Transport Services Industry Overview

The forest products trucking market consists of sales of forest products trucking services and related goods by entities (organizations, sole traders and partnerships) that provide over-the-road transportation of forest products. Only goods and services traded between entities or sold to end consumers are included. The global forest products market is expected to grow from $159.69 billion in 2020 to $172.08 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $230.26 billion in 2025 at a CAGR of 7.6%. The forest products trucking market covered in this report is segmented by type into log transport; chip transport. The increase in demand for wood-based raw materials drives the demand for the forest products trucking market. According to the Food and Agriculture Organization’s Annual Market Review 2018 – 2019, the total consumption of roundwood logs for industrial use and fuel in the UNECE region was estimated to be 1.4 billion m3 in 2018, which is an increase of 5% over that of 2017. The consumption of wood-based panels grew by 1.3%. International trade of softwood logs reached 93 million m3 in 2018, which is a 52% increase over the last ten years. The rise in demand for wooden raw materials boosted the demand for trucking forest products and positively affected the forest products trucking market. The shortage of truck drivers is a major challenge in the forest products trucking market. According to the American Trucking Association’s (ATA) USA estimates, there is a shortage of 50,000 truck drivers and this is expected to increase to 174,000 by 2026. Moreover, according to an article in the Canadian Press, due to the shortage of truck drivers, Weyerhaeuser, an American timberland company, lost $10 million to $15 million in the fourth quarter. By 2024, the average age of truck drivers is expected to be 50, the shortage is expected to be between 38,000 or 48,000, and more than 10,000 trucker drivers retire every year. Therefore, the shortage of truck drivers is expected to limit the growth of the forest products trucking market. In August 2018, Leavitt’s Freight Service, a US-based specialty carrier of utility poles and engineered wood products, merged with Daseke-affiliated Central Oregon Truck Company. The merger will allow both the companies to cut costs by sharing each other’s facilities for service, maintenance, and fuel as both the companies operate in the Northwest along the I-5 corridor. The major players covered in the global forest products trucking market are GoodLogistics, Timber Products Company, Fr. Meyer's Sohn (GmbH & Co.) KG, JB Hunt Transport Services, Knight Transportation, CRST International, Leavitt’s Freight Service. The countries covered in the global forest products trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global forest products trucking market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global forest products trucking market is segmented - 1) By Type: Log Transport, Chip Transport 2) By Size: Heavy Trucks, Medium Trucks, Light Trucks

The passenger chartered air transport services market consists of sales of passenger chartered air transportation services and related goods by entities (organizations, sole traders, and partnerships) that use aircraft, such as airplanes and helicopters, to provide chartered (non-scheduled) air transportation services for passengers at a toll per mile or per hour for the charter of the aircraft. Only goods and services traded between entities or sold to end consumers are included. The global passenger chartered air transport market is expected to grow from $31.82 billion in 2020 to $33.57 billion in 2021 at a compound annual growth rate (CAGR) of 5.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $39.84 billion in 2025 at a CAGR of 4.4%. The passenger chartered air transport market covered in this report is segmented by type into private charter services; business charter services. The increasing preference for private charters by ultra-high net worth individuals (UHNWI) is expected to drive the global passenger-chartered air transport market. Most UHNWI are inclined towards private charters rather than owning jets. In the Asia Pacific, Australia leads the market with 57 charter jets for 27 billionaires followed by Singapore which has 30 charter jets for their 28 billionaires. The prevalence of COVID19 has also supported the growth of the market as the individuals travelling had to maintain social distancing and the UHNWIs were looking for safe and customized travel options. The growing preference for private charters contributed to the growth of the passenger-chartered air transport market. Fluctuating fuel prices is expected to hinder the growth of the passenger-chartered air transport market. An Increase in fuel price increases the operating costs of charter flights which results in an increase in the rental price of charter flights. For instance, in March 2019, jet fuel price hiked by $64.14 per kilolitre in India which is an increase of 8.15%. Therefore, sudden fluctuations in price are expected to impact the growth of the passenger-chartered air transport market. A custom luxury vacation tour by chartered jets is a major trend gaining popularity in the global passenger chartered air transport services market. People are prioritizing travel, adventures, and unique experiences and private chartered jet services are offering customized tours for a group of travellers for the round-the-world tours as well. For instance, Abercrombie & Kent (A&K), a luxury travel company, provides round-the-world tours on all-first-class airliners is now offering personalized tours through bizjet for up to 16 passengers. In March 2020, Wheels Up, a leader in total aviation solutions, acquired Gama Aviation for an undisclosed amount. The acquisition will increase Wheels Up’s fleet with more than 300 planes owned and operated. Gama Aviation is a leading private aviation services company that provides aircraft management, private jet charter, and ancillary support for its managed aircraft. The major players covered in the global passenger chartered air transport market are Air Charter Service Group Ltd., Air Partner Plc, Asia Jet Partners Ltd., ASIAN SKY GROUP, Delta Private Jets Inc., Flexjet LLC, Gama Aviation Plc, GlobeAir AG, NetJets Aviation Inc, XO Global LLC, VistaJet Group Holding Ltd, Deer Jet Co Ltd, TMC Jets, Jet Aviation AG, Luxaviation, Contour Aviation, TAG Aviation, Executive Jet Management, Líder Aviatio, PrivateFly, LILY JET, GlobeAir, Jet Linx Aviation, Solairus Aviation, Clay Lacy Aviation, MJets, Asian Aerospace, Premiair. The countries covered in the global passenger chartered air transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global passenger chartered air transport market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global passenger chartered air transport market is segmented - 1) By Type: Private Charter Services, Business Charter Services 2) By Size: Light Jets, Mid Sized Jets, Large Jets, Air Liner 3) By Capacity: Less than 10, 10-100, Greater than 100

The freight cars market consists of sales of freight cars rail freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide the transportation of freight in a freight car. Freight cars are a type of railroad cars or rolling stock that are designed to transport goods on a rail transport system. Only goods and services traded between entities or sold to end consumers are included. The global freight cars market is expected to grow from $135.32 billion in 2020 to $148.87 billion in 2021 at a compound annual growth rate (CAGR) of 10%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $193 billion in 2025 at a CAGR of 6.7%. The freight cars market covered in this report is segmented by type into intermodals; tank wagons; freight cars. Government initiatives are expected to boost the freight cars market growth. For instance, in 2019, the Indian government has taken initiatives to make rail freight more attractive through long term tariff contract with major customers, providing incentives to container traffic, tariff rationalisation initiatives, the launch of schemes such as the General Purpose Wagon Investment Scheme (GPWIS), Liberalised Wagon Investment Scheme (LWIS), Special Freight Train Operator (SFTO), and Automobiles Freight Train Operator (AFTO), and others. Investments in railway infrastructure has also been looked into by the Government of India by making investor-friendly policies and enabling Foreign Direct Investment in railways to improve infrastructure for freight and high-speed trains. Also similar instance, in 2019, the UK government launched a velocity improvement initiative which does the continuous analysis of freight services focused on commodity and flow in close collaboration with freight operators. Therefore the steps taken by the government to increase the rail freight will increase the demand for freight cars market growth during the period. Stringent regulation regarding import and export is one of the major challenges to the freight car market growth. Rail freight transportation would decrease as a result of strict rules over trade which would decrease the demand for freight cars. In October 2017, the Lang Son Customs Department of Vietnam posed strict rules on the importation of goods to control smuggling and frauds from China to Vietnam. In 2020, the Customs department of India imposed stringent rules on free-trade agreement import of white goods to check undue dumping of these commodities under FTAs from non-producing countries. It aims to check misuse of relaxation under free-trade agreements. India is also keen to implement new planned regulations to boost local manufacturing by reducing imports and the move is primarily aimed at slashing the amount of lower-quality imports from China. Therefore stringent rules posed by the government over trade are expected to hinder the freight car market growth during the forecast period. Freight cars are now enabled with GPS tracking and this likely to be an emerging trend in the freight cars market. The efficiency of freight cars transport will be augmented with the use of advanced GPS technologies. Incorporation of GPS technologies into freight cars by rail operators helps in managing the transport process, scheduling of freight cars, maintain a consistent delivery process, and reduction in theft of goods from the freight cars. For instance, in 2019, Indian Railways began real-time monitoring of over 700 trains (passenger and freight), using The Control Office Application (COA) system. The COA was designed by ISRO after collaborating with the Indian Railways to monitor the movement of freight cars even between two stations with GPS. Therefore demand for freight cars is expected to be increased with the incorporation of certain criteria such as real-time data and on-time deliveries. In July 2019, The Greenbrier Companies, Inc, a leading international supplier of equipment and services to the freight rail transportation markets, acquired the manufacturing business of American Railcar Industries (ARI) from ITE Management for an undisclosed amount. ITE Management is an investment firm that operates industrial and transportation assets and companies. The acquisition will strengthen Greenbrier’s position in product offering in tank cars and covered hoppers and expand its customer base. The acquisition will also extend Greenbrier's reputation in design leadership and quality in the North American freight cars market. The major players covered in the global freight cars market are CN Railway, DB Schenker, SBB Cargo, Union Pacific, Kansas City Southern, CSX Corporation, Norfolk Southern Corporation, Housatonic Railroad Company, Linfox Pty Ltd. The countries covered in the global freight cars market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global freight cars market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global freight cars market is segmented - 1) By Type: Intermodals, Tank Wagons, Freight Cars 2) By Application: Coal, Petroleum And Chemicals, Metals And Minerals, Automobiles, Agricultural Products, Others 3) By End-Use Industries: Agriculture, Construction, Oil & Gas, Chemical, Medical & Pharmaceuticals, Food & Beverages, Government & Defense, Automotive & Transportation, Marine

The tank wagons market consists of sales of tank wagons rail freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide the transportation of freight in a tank wagon. Tank wagons are a type of railroad cars or rolling stock that are designed to transport liquid and gaseous commodities on the rail transport system. Only goods and services traded between entities or sold to end consumers are included. The global tank wagons market is expected to grow from $62.59 billion in 2020 to $68.74 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $88.55 billion in 2025 at a CAGR of 6.5%. The tank wagons market covered in this report is segmented by tank pressure type into pressurized railroad tank car; general purpose or non-pressurized tank car. Increased demand for liquid and gases as a raw material in residential and petrochemicals sectors that use railways as one of the modes of transportation is contributing to the growth of the tank wagon market. This upswing in need is due to lockdown and ban on traveling which has happened worldwide. For instance, according to the Facts Global Energy (FGE) data, India is expected to buy 15.8 million tons of LPG from abroad in 2020 year which is 9% more than in 2019. Furthermore, FGE has also estimated that the Asia region will buy 67-69.5 million tons of gas from abroad in 2020, which will be 1-3% more than that of 2019. Due increase in need of PPE kits and cooking at home is causing a rise in demand for liquid and gas which is fulfilled with help of tank wagons to carry tons of these materials, thus driving the tank wagon market. The increased rate of accidents due to the high speed of railways is expected to limit the growth of the tank wagon market. These high accident rates can hamper the service provided by the rail tank wagons and also loss of economy and fuels. For instance, in June 2020, in Andhra Pradesh, a state in India, tank wagons carrying oil got derailed due to high speed and caught fire which caused huge combustion of the oil. In February 2020, in Canada, a train with 19 wagons carrying dangerous goods got derailed due to high speed causing an explosive fire. This led to the imposition of trains carrying hazardous goods. Thus, a rise in accidents is hampering the revenues generated for the tank wagons market. The launch of the internet of things (IoT) to fast-track the safety and compliance of the rail tanks have created immense demand in the tank wagons market. The IoT empowers rail administrators to use internet-connected communication devices installed across infrastructure and rolling stock to increase safety. For instance, in August 2018, Tata Consultancy Services has planned out a series of IoT-based apps to improve the safety of the increasing volumes of crude oil being transported by rail in North America. These apps will maintain a record of activities and will provide real-time operating conditions such as speed restrictions. In 2018, the Association of American Railroads (AAR) certified the TransRail Innovation Group’s (TRIG) XLOAD sensor to measure and track dangerous commodities being transported by tank cars. Moreover, there are many apps such as the safety lock app, terminal automation app, and anti-roll-away apps rolled out by TCS to digitalize the tank wagons. In July 2019, Greenbrier, a US-based railroad transportation company, announced the acquisition of American Railcar Industries manufacturing business for $430 million. The acquisition is expected to enable Greenbrier to provide customers not only with direct sales or leasing options but also with after-market services and also to help customers seeking tank cars and covered hoppers. American Railcar Industries is a US-based company that manufactures railroad rolling stock. The major players covered in the global tank wagons market are American Railcar Industries Inc., GATX, National Steel Car, The Greenbrier Companies, Trinity Industries Inc., Vertex Railcar, Union tank car company, American-Rails, Chongqing ChagnZheng Heavy Industry, TrinityRail Products, Caterpillar, Japan Oil Transportation., Kelso Technologies Inc, OmBesco Limited, Procor Limited, VTG Aktiengesellschaft. The countries covered in the global tank wagons market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global tank wagons market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global tank wagons market is segmented - 1) By Tank Pressure Type: Pressurized Railraod Tank Car, General Purpose or Non-Pressurized Tank Car 2) By Protection Type: Insulated, Non-insulated 3) By Application: Crude Oil, Ethanol, Liquefied Gases, Bio Fuels, Milk, Chemicals, Others

The long-distance general freight trucking market consists of sales of long-distance general freight trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide long-distance general freight trucking services. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Long-distance general freight trucking establishments usually provide trucking between metropolitan areas which may cross country borders. Included in this industry are establishments operating as truckload (TL) or less than truckload (LTL) carriers. Only goods and services traded between entities or sold to end consumers are included. The global long-distance general freight trucking market is expected to grow from $536.55 billion in 2020 to $601.87 billion in 2021 at a compound annual growth rate (CAGR) of 12.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $826.54 billion in 2025 at a CAGR of 8.3%. The long-distance general freight trucking market covered in this report is segmented by services into truckload carriers; less-than-truckload carriers; other transportation services and by activities into general long-distance truckload transit; general long-distance less-than-truckload transit; logistics planning; container trucking long-distance; motor freight trucking long-distance. An increase in manufacturing output of different industries is expected to drive the growth of the long-distance general freight trucking market. More manufacturing output calls for more trucking to carry the freight from one place to another. In March 2020, Tesla planned to increase electric vehicle production capacity in China. This production capacity will be 250,000 cars a year. To transport these manufactured cars, there will be a need for freight trucking. In June 2020, Tesla semi which is used for long haul trucking was transporting the cars. Thus, the increased manufacturing output which results in increased trucking for transportation of the finished products is leading to the growth of the long-distance general freight trucking market. Travel restrictions and lockdowns during COVID 19 are limiting the growth of the long-distance general freight trucking market. Coronavirus lockdown limitations have restricted freight movement raising operating expenses, and increased anxiety among drivers and crew members. According to an analysis by Geotab Inc., a web analytics company, there was a significant drop in the commercial transport activity between 16 March 2020 and 8 May 2020 in the United States, when compared with baseline data from February 2020. The commercial transport activity of the United States is working at an average of 83% of total commercial transport activity. This decrease in activity is felt more seriously in federal regions, such as in New York and New Jersey, with working levels at 66% of normal activity. Thus, these variables such as travel restrictions and lockdown are affecting the development of the long-distance general freight trucking market. Electric trucks are being increasingly used by the long-distance general freight trucking market for transportation which is expected to propel the market growth. Numerous retailers and transporters are putting in huge orders of electric trucks for beverage routes and last-mile delivery. In September 2020, Amazon bought 10 electric trucks from Lion Electric, and in September 2019, Amazon ordered 100,000 electric delivery vans from startup Rivian with deliveries from 2021 to 2024. Similarly, in November 2018, FedEx Corp. expanded its fleet to 1000 electric delivery vehicles of which 100 were bought from Chanje Energy and leased 900 from Ryder System. In June 2020, Mark-It Express Logistics, a US-based intermodal trucking and freight brokerage company, has acquired the operating assets of Sava Transportation for an undisclosed amount. The acquisition will help Mark-It Express Logistics to offer flexible and robust solutions to their customers and will add 20 more trucks to its fleet. This acquisition will also diversify its customer base and increase the market share. Sava Transportation, a US-based company specializing in intermodal traffic. The major players covered in the global long-distance general freight trucking market are XPO Logistics Inc., YRC Worldwide Inc., FedEx Corporation, JB Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Old Dominion Freight Line, Progressive Carriers, Joe's Logistics, Universal Truckload, Reynold Transportation, Carolina Cargo Freight Expediters, Spirit Trucking Lines, Kivi Bros. Trucking, Mangino Holding, Erik Holdings, Duncan Trucking, Transport Holdings, GFA Alabama, C&S Wholesale Grocers, Kenan Advantage Group, Universal Logistics Holdings (Nasdaq: Uacl), Ceva Logistics Us Holdings, Lynden, Hub Group (Nasdaq: Hubg), Aaa Cooper Transportation, Charlotte Truck Center, Estes Express Lines, UPS Freight, ABF Freight System, R+L Carriers, Saia Motor Freight Line, Central Transport International, Oak Harbor Freight Lines, Central Freight Lines, Daylight Transport, New Penn Motor Express, New England Motor Freight, A. Duie Pyle, Reddaway, Roadrunner Transportation, AAA Cooper Transportation, Pitt Ohio Transportation Group, Dayton Freight Lines, Forward Air, Averitt Express, Holland, Southeastern Freight Lines. The countries covered in the global long-distance general freight trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global long-distance general freight trucking market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global long-distance general freight trucking market is segmented - 1) By Services: Truckload Carriers, Less-than-Truckload Carriers, Other Transportation Services 2) By Activities: General Long-Distance Truckload Transit, General Long-Distance Less-than-Truckload Transit, Logistics Planning, Container Trucking Long-Distance, Motor Freight Trucking Long-Distance 3) By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Others 4) By Size: Heavy Trucks, Medium Trucks, Light Trucks

The inland water freight transport market consists of sales of inland water freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide inland water transportation of cargo on lakes, rivers, or intra-coastal waterways. Only goods and services traded between entities or sold to end consumers are included. The global inland water freight transport market is expected to grow from $17.89 billion in 2020 to $18.66 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $22.29 billion in 2025 at a CAGR of 4.5%. The inland water freight transport market covered in this report is segmented by type of transportation into liquid bulk transportation; dry bulk transportation. The need for economical transportation for cargo has been the main driving factor for the inland water freight transport market. Water freight is usually considered inexpensive and economical for heavier cargos because of the difference in fare charging in comparison to other modes of transport. In water transport, the rate is often calculated by the cubic meter of the standard container and on other hand in air transport, the chargeable weight is calculated by a combination of size and weight of cargo. According to the U.S. Department of Transportation, goods worth approximately $736 billion were shipped through ocean vessels in 2000 and by 2020, the international trade is expected to be double within the US, with the majority of the trade is expected to move via ocean shipping. According to the World Bank, which is the major financer in India's National Waterway Project, the cost for transporting one tons of freight over 100 km through roadways is around $3.07, through railways is around $1.93 and through waterways is around $1.62 and this makes waterways the economical way of transporting cargo in India. Volatility in the crude oil price is impacting the water transport and therefore it is expected to restrain the market for inland water freight transport during the period. According to the United Nations Conference on Trade and Development, fuel oil is a major source powering the global economy and supplies 95% of the energy used in world transport. Water transport carries over 80% of global merchandise trade by volume and is highly dependent on oil. As the cost of oil rises, the carriers are forced to raise prices or bear losses. Usually, the receiver is charged more to make up for added costs. Higher fuel costs cause product inflation and affect every aspect of product transportation. When fuel prices fall, the consumer receives goods at a low price and logistic companies use the saved money to improve their operations. An increase or decrease in fuel price affects the operations cost directly. For instance, according to International Energy Agency (IEA), the crude oil price increased from $0.33/litre in 2015 to $0.45/litre in 2018, an increase of 36%, thus increasing the operating costs of water transport and hindering the inland water freight transport market growth. The development of information technology platforms for better vessel management is an emerging trend in the inland water freight transport market. According to the United Nations Conference on Trade and Development (UNCTAD) in 2019, about 80% of global trade by volume was carried by waterways with a fleet of 95402 ships. Information technology on ships is used for- fuel optimization and monitoring vessel performance, recognizing scanned copies and photos of documents, customer relationship management, warehouse management, and Que management system. Few significant online apps and portals used for operations management on the ship are - BunkerEx, an online portal for ship owners helping in finding optimal bunker port; Nautilus Labs, takes data from sensors, manual reports, and market information to get a unified fleet intelligence picture; and Radiantfleet, with its software, helps in digitizing workflows, cut cost and improve budgeting. Therefore, the combination of digital and physical connectivity helps carriers and seaports to integrate their processes with shippers and track devices for containers and cargos. In February 2018, Kirby Corporation, an American waterway transport company operating US's largest fleet of inland tank barges and towing vessels, acquired Higman Marine, Inc. and its affiliated companies for $419 million. The acquisition is expected to make the Kirbys inland fleet of barrel tank barges, the youngest fleet in the industry. This will also benefit Kirby to avoid future capital outlays for new towboats. Higman Marine Services, Inc was an American marine transportation company transporting petroleum, crude oil and chemicals by tank barges The major players covered in the global inland water freight transport market are American Commercial Barge Line, Ingram Barge, Kirby Inland Marine, American River Transportation, CMA CGM Group, McKeil Marine Limited, AP Moller - Maersk A/S, Rhenus Group, Rhenus Group, Imperial Logistics International. The countries covered in the global inland water freight transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global inland water freight transport market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global inland water freight transport market is segmented - 1) By Type Of Transportation: Liquid Bulk Transportation, Dry Bulk Transportation 2) By Fuel: Heavy Fuel Oil, Diesel, Biofuel, Others 3) By Vessel Type: Cargo Ships, Container Ships, Tankers, Others

The refrigerated goods trucking market consists of sales of refrigerated goods trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide over-the-road transportation of refrigerated goods. Only goods and services traded between entities or sold to end consumers are included. The global refrigerated goods market is expected to grow from $47.54 billion in 2020 to $50.02 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $59.27 billion in 2025 at a CAGR of 4.3%. The refrigerated goods trucking market covered in this report is segmented by vehicle type into the light commercial vehicle; medium heavy commercial vehicles; heavy commercial vehicles. Increasing demand for perishable foods such as ready-to-eat food items, milk and dairy products, and fruits and vegetables are predicted to contribute to the growth of the refrigerated goods trucking market. The surging demand for frozen food items is propelling suppliers to equip their refrigerated units with multi-temperature systems, computer controls, and thermal liners to keep the food at the required temperature. According to Dairy Global’s statistics published in June 2018, the global milk production was about 876 million tons in 2018 and is projected to reach 1,168 million tons by the end of 2030, recording a growth of 35% during the period. Moreover, according to the National Dairy Development Board (NDDB), the demand for milk in the Indian market is expected to reach 180 million tons by 2022. Therefore, increasing demand for refrigerated food products is expected to drive the market for refrigerated goods trucking market during the forecast period. Lack of infrastructure for cold storage in developing countries is anticipated to limit the growth of the refrigerated goods trucking market over the forecast period. Cold chain management (CCM) is a recently adopted concept in supply chain management. CCM is a network of cold stores, refrigerators, freezers, refrigerated trucks, and cold boxes that are organized to maintain the temperature of the food items during storage, transportation, and distribution from the factory. Lack of proper cold chain management leads to loss of food and losses. According to the Food and Agriculture Organization of the United Nations (FAO)’s report on 16 countries from sub-Saharan Africa showed that cold chains are very poorly developed or inexistent in most subsectors in the region. Moreover, the International Institute of Refrigeration (IIR) estimated that in developed countries cold storage capacity in urban areas is about 200 liters per capita (where 70% of the population is urban) whereas in developing countries it is about 19 liters per capita (where 50% of the population is urban). Thus, lack of cold chain infrastructure especially in developing economies will result in low demand for refrigerated goods trucking services which is likely to act as a major restraint for the growth of the market. Major companies operating in this market are continuously investing in introducing new technologies such as cloud computing, IoT solutions, solar-powered systems, and communication technologies such as machine learning, GPS, 5G for greater accountability, visibility, and performance in refrigerated storage and transport. It is estimated that the investments in this field are likely to cross $40 billion by the end of 2020. Moreover, in April 2020, Carrier Transicold launched a solar charging system for transport refrigeration unit batteries which has an innovative design that conveniently fits on top of the unit. The innovative solar charging system is capable of delivering 2.0-amp power delivery by combining ultrapure silicon cells with a high-performance charge controller. In January 2020, Nolan Transportation Group (NTG), truckload brokerage and third-party logistics services provider, acquired Eagle Transportation LLC, a cold chain logistics specialist for an undisclosed amount. With the acquisition of Eagle Transportation LLC, Nolan Transportation Group (NTG) plans to expand nationwide supply chain solutions offerings with enhanced temperature-controlled capabilities and expertise of the company. Eagle Transportation LLC is a Mississippi-based brokerage and transportation company engaged in providing on-time temperature-controlled shipping services. The major players covered in the global refrigerated goods trucking market are Schmitz Cargobull AG, Great Dane LLC, China International Marine Containers, Kogel Trailer GmbH & Co, Hyundai Translead Inc., Wabash National Corporation, KRONE, GRW Tankers and Trailers. The countries covered in the global refrigerated goods trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global refrigerated goods trucking market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global refrigerated goods trucking market is segmented - 1) By Vehicle Type: Light Commercial Vehicle, Medium Heavy Commercial Vehicles, Heavy Commercial Vehicles 2) By Temperature: Single Temperature, Multi-Temperature 3) By Application: Food Products, Poultry, Meat, and Seafood, Dairy and Beverages, Bakery And Confectionery, Pharmaceutical, Others

The local general freight trucking market consists of sales of local general freight trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide local general freight trucking services. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Local general freight trucking establishments usually provide trucking within a metropolitan area which may cross state lines. Generally, the trips are same-day return. Only goods and services traded between entities or sold to end consumers are included. The global local general freight trucking market is expected to grow from $111.84 billion in 2020 to $125.24 billion in 2021 at a compound annual growth rate (CAGR) of 12%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $170.8 billion in 2025 at a CAGR of 8.1%. The increase in e-commerce sales is expected to fuel the growth of the local freight trucking market in the coming years. E-Commerce refers to the purchasing and sale of products and services on the Internet. The e-commerce industry relies on trucking to move their items from one location to another and impacts the trucking industry directly. For instance, according to the US Census Bureau, in 2020, the USA consumers spent $211.5 billion in the second quarter and increased by 31.8% from the previous quarter. The increase in e-commerce sales increases the demand to transport the goods and thereby drives the growth of the local freight trucking market. The impact of COVID19 is expected to limit the growth of the local freight trucking market in the coming years. The transportation industry faces severe challenges due to coronavirus with disruption in the supply chain. A decrease in demand led to a fall in the supply of raw material or end-products such as restaurant supply, live event equipment, among others. According to the Center for Disease Control and Prevention, the trucking industry lost more than 88,000 jobs in April 2020, a 5.8% decline from March, a 20.5 million job losses across the U.S., placing the nation's total unemployment rate at 14.7%. A recent survey found that nearly half (48%) of carriers registered significantly lowered freight rates across the U.S. Therefore, the prevalence of COVID-19 restrains the growth of the local freight trucking market. The integration of the Internet of Things (IoT) in the transportation sector is a key trend gaining popularity in the local general freight trucking market. IoT is expected to change the transport sector by gathering data and vital information from market and technology developments related to data analytics and automation of mobility and provide benefit in fleet management and location tracking. Companies around the world are finding more interesting ways to take advantage of the Internet of Things for greater productivity and efficiency. For instance, Kuehne + Nagel, a Swiss-based transport and logistics company, uses IoT for freight monitoring, which helps to warn temperature, humidity, pressure, shock, and tilt at parcel level. The major players covered in the global local general freight trucking market are YRC Worldwide Inc, JB Hunt Transport Services Inc., FedEx Corporation, XPO Logistics Inc, Knight-Swift Transportation Holdings Inc, American Rail Center Logistics, DHL, United Parcel Service, Challenger Motor Freight Inc, Creed Freight System, JR Traffic Service, LEASE-SERV TRANSPORTATION, Schneider national, Landstar, Swift Transportation. The countries covered in the global local general freight trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global local general freight trucking market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global local general freight trucking market is segmented - 1) By Type: Truckload Transportation, Less-than-Truckload Transportation, Intermodal Transportation, Dry-Bulk Transportation, Other 2) By Size: Heavy Trucks, Medium Trucks, Light Trucks 3) By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Others