Global Freight And Logistics Market Report 2022-2026 & 2031: Analysis by Manufacturing, Automotives Oil And Gas, Mining, Quarrying, Agriculture, Fishing, and Forestry, & Construction
DUBLIN, Nov. 22, 2022 /PRNewswire/ -- The "Freight And Logistics Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global freight and logistics market is expected to grow from $14.56 billion in 2021 to $15.71 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The market is expected to grow to $18.69 billion in 2026 at a compound annual growth rate (CAGR) of 4.4%.
The main types of freight and logistics include airways, railways, roadways, and waterways. Airways refers to the transportation and management of goods through an air carrier. The different functions include freight forwarding, warehousing, value-added services, and others. It is employed in manufacturing and automotive, oil and gas, mining, and quarrying, agriculture, fishing, and forestry, construction, distributive trade, and other end users.
Asia Pacific was the largest region in the freight and logistics market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the freight and logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing global trade activities are expected to propel the growth of the freight and logistics market going forward. Global trade activities refer to the import and export of goods and services across international boundaries. Freight and logistics services are used to transport goods internationally through different modes of transport. An increase in global trade activities has led to an increase in the volume of transporting goods to different countries through different means of transportation.
For instance, according to United Nations Conference on Trade and Development, a Switzerland-based, United nations organization, for the year 2021, exports of developing countries increased to 30% higher in the fourth quarter of 2021, and global trade reached a record level of US 28.5 trillion in 2021. Also, China is contributing the highest, 15% of all world exports. Therefore, the increasing global trade activities in emerging economies are driving the growth of the freight and logistics market.
Technological advancement is the key trend gaining popularity in the freight and logistics market. Major companies operating in the market are focused on technological advancement to sustain their position in the market. For instance, in 2020, Deutsche Post DHL Group (DPDHL), a Germany-based freight and logistics company, launched its DHL SmarTrucking solution to accelerate the development of AI-based technology-enabled logistics solutions. By Using AI technology, shipped items and goods can be tracked to their exact location. This technology helps to reduce nearly 50% transit time compared to the traditional trucking industry.
In June 2021, Worldwide Express LLC, a US-based logistics provider merged with GlobalTranz Enterprises, for an undisclosed amount. Through this merger, these merged companies offer services in parcel delivery that includes the less-than-truckload and full truckload and manage transportation through the use of business intelligence, data assets, and the latest technology. The merger helps to gain a better market presence and helps Worldwide Express serve a larger number of customers. GlobalTranz Enterprises is a US-based full-service logistics provider.
The countries covered in the freight and logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major players in the freight and logistics market are
Key Topics Covered:
1. Executive Summary
2. Freight And Logistics Market Characteristics
3. Freight And Logistics Market Trends And Strategies
4. Impact Of COVID-19 On Freight And Logistics
5. Freight And Logistics Market Size And Growth
6. Freight And Logistics Market Segmentation
6.2. Global Freight And Logistics Market, Segmentation By Function, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Freight And Logistics Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Freight And Logistics Market Regional And Country Analysis
For more information about this report visit https://www.researchandmarkets.com/r/pjovx7
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