What Is The Definition Of The Global Intermodal Freight Transportation Market?
Intermodal freight transportation is the movement of goods using two or more modes of transportation in a single journey, without handling the cargo when changing modes. This method utilizes standardized containers seamlessly transferring between different transportation modes, enhancing efficiency, reducing costs, and minimizing handling risks.
Intermodal Freight Transportation Global Market Report 2024 provides data on the global intermodal freight transportation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The intermodal freight transportation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Intermodal Freight Transportation Market Size Expected To Expand, And At What Annual Growth Rate?
The intermodal freight transportation market has expanded rapidly, growing from $51.18 billion in 2023 to $58.85 billion in 2024 at a CAGR of 15.0%. Growth is attributed to demand for faster delivery, free trade agreements, rail infrastructure development, and e-commerce growth. By 2028, the market is projected to reach $103.78 billion, with a CAGR of 15.2%. Growth factors include rising global trade, urbanization, and demand for refrigerated transport. Key trends are real-time tracking, green logistics solutions, AI integration, and blockchain technology.
What Are The Key Drivers Fueling Growth In The Intermodal Freight Transportation Market?
The rise in industrialization is expected to contribute to the growth of the intermodal freight transportation market. Industrialization, driven by globalization and trade agreements, is leading to more efficient and diverse supply chains. Intermodal freight transportation plays a key role in supporting global trade by enhancing logistics and infrastructure. For instance, Canada’s manufacturing sector saw a significant increase in sales, growing by 17.9% to $850.9 billion in 2022, reflecting the growing importance of freight transportation for industrial economies.
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What Are The Principal Market Segments In The Global Intermodal Freight Transportation Industry?
The intermodal freight transportation market covered in this report is segmented –
1) By Type: Railway Transport, Road Transport, Air And Sea Transport, Other Type
2) By Component: Software, Service
3) By Modes: Rail Road, Road Water, Road Air, Other Modes
4) By Verticals: Consumer And Retail, Oil And Gas, Industrial And Manufacturing, Energy And Mining, Food And Beverages, Aerospace And Defense, Construction, Chemicals, Pharmaceuticals And Healthcare, Other Verticals
Which Emerging Market Trends Are Altering The Intermodal Freight Transportation Market?
The intermodal freight transportation market is embracing AI-based transport management systems to optimize efficiency, improve route planning, and enhance supply chain performance. These systems use AI to streamline transportation management across multiple modes. In September 2023, 3SC Solutions introduced the iTMS (Intelligent Transport Management Solution), which uses AI and machine learning for real-time route optimization. It also includes predictive analytics to anticipate disruptions and adjust logistics strategies proactively, improving coordination and reducing operational costs.
What Is The Leading Region In The Intermodal Freight Transportation Market?
North America was the largest region in the intermodal freight transportation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intermodal freight transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
