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Global Oversized Cargo Transportation Market Expansion at 5.4% CAGR, Valued at $261.36 Billion by 2029
Oversized Cargo Transportation
What Are the Oversized Cargo Transportation Market Size Forecast for 2025?
The market size of the oversized cargo transportation has witnessed consistent growth in the past few years. The market, which is poised to rise from $204.81 billion in 2024 to $211.6 billion in 2025, will experience a compound annual growth rate (CAGR) of 3.3%. The growth during the historical period can be credited to the growth of emerging markets, expansion of the construction sector, a surge in the renewable energy sector, heightened governmental support, and an increase in air cargo transportation.
What Is the Market Size Outlook for Oversized Cargo Transportation Until 2029?
The market for transporting oversized cargo is set to witness substantial growth in the upcoming years, with a projection of reaching $261.36 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.4%. This increase over the predicted period can be traced back to factors such as increasing global population and urbanization, the expansion of the automotive industry, burgeoning international trade, and a surge in the requirement of raw materials by manufacturing sectors. Key trends for the forecasted period encompass the establishment of more heavy cargo transport stations, initiating new cargo centers to boost transport services, a rise in strategic partnerships and acquisitions among market competitors, applying precision-scheduled railroading for enhancing rail network efficiency, the implementation of AI for real-time analytics and integration in cargo vehicles, and the utilization of IoT in vehicles and fleet management software for efficiency enhancement.
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What Are the Major Factors Driving Demand in the Oversized Cargo Transportation Market?
The growth of the construction industry is anticipated to drive the oversized cargo transportation market in the future. The term "construction industry" relates to the manufacturing and trade sector associated with the creation, repair, renovation, and maintenance of infrastructures. The transportation of oversized cargo is utilized within the construction sector to move construction machinery and pre-constructed modules, indicating that a surge in the construction sector will fuel market expansion. To exemplify, the South Korea government has scheduled to implement construction expenditure of 2.7 trillion won ($2 billion) in the first half of 2024, marking a 20% rise from 2023. Furthermore, Invest India, the National Investment Promotion and Facilitation Agency which assists investors exploring investment possibilities and alternatives in India, suggests that the Indian construction industry is likely to reach a market value of $1.4 trillion by 2025. Consequently, the growth of the construction industry is a pivotal factor in pushing forward the oversized cargo transportation market.
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How Are End-Use Segments Shaping the Oversized Cargo Transportation Market Outlook?
The oversized cargo transportation market covered in this report is segmented -
1) By Type: Road Transportation, Rail Transportation, Sea Transportation, Air Transportation
2) By End Use: Agriculture Machinery, Construction Machinery, Military Machinery, One-Piece Structure And Installations, Industrial Equipment, Aircraft And Watercraft, Other End Uses
Subsegments:
1) By Road Transportation: Flatbed Trucks, Lowboy Trailers, Specialized Heavy Haul Trucks
2) By Rail Transportation: Heavy-Duty Railcars, Flatcar Transport, Intermodal Containers
3) By Sea Transportation: Heavy Lift Vessels, Roll-On Or Roll-Off (RoRo) Ships, Flat Rack Shipping
4) By Air Transportation: Cargo Aircraft, Charter Flights For Oversized Cargo, Air Freight Services
What Are the Strategic Trends Transforming the Oversized Cargo Transportation Market Landscape?
Leading firms in the oversized cargo transportation market are increasingly adopting artificial intelligence (AI) to deliver precise analysis and live updates on transport operations, transport planning, and predictive procedures. AI in the oversized cargo transport sector is proving beneficial in refining operations and augmenting capacity. For instance, CJ Logistics, a logistics entity based in South Korea, introduced The Unban in December 2022. This freight transportation platform harnesses AI and big data technology to facilitate direct connections between shippers and freight trucks. The platform provides an option for a freight truck owner to choose a transportation bid after a bidder has uploaded crucial details like the starting point, destination point, and type of cargo.
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Who Are the Prominent Companies in the Oversized Cargo Transportation Market by ?
Major companies operating in the oversized cargo transportation market include Kintetsu World Express, Inc, A.P. Møller - Mærsk A/S, Deutsche Bahn AG, DSV A/S, Landstar System, Inc, Daseke Inc., Mammoet North America, Orient Overseas Container Line Limited, Barnhart Crane & Rigging, Lynden Incorporated, Equity Logistics Australia, CJ Logistics, Allcargo Logistics Ltd, Swanson Transport Ltd, DMA Cargo Srl, Pastrello Autotrasporti S.r.l, DHL Supply Chain & Global Forwarding, DB Schenker, Sarens, Barrington Freight Ltd, Acirfa Shipping International S.L, Agora Freight, New Wave International Cargo Sp. z o.o. Sp, PANAS TRANSPORT, Black Sea Crown Logistic SRL, Watco Companies LLC, Omni Logistics, Ameritrans Freight International, Expeditors International, Sea Cargo Logistics, Schumacher Cargo Logistics, Crowley Maritime Corporation, Amerijet International Inc., Global Shipping Services LLC, Mullen Group Ltd, Latin American Cargo (LAC), Almajdouie Logistics, Jenae Logistics, Platinum Shipping & Logistics, Prime Shipping Agency LLC, Willem Steenkamp Transport, Spedag Interfreight, Tristar Transport
Which Region Is Expected to See the Highest CAGR in the Oversized Cargo Transportation Market?
North America was the largest region in the oversized cargo transportation market in 2024. The regions covered in the oversized cargo transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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