What Has Been the Progress and Growth of the Intermodal Freight Transportation Market in Recent Years?
The intermodal freight transportation market has seen considerable growth due to a variety of factors.
• The intermodal freight transportation market has grown rapidly in recent years. It is expected to grow from $58.85 billion in 2024 to $67.97 billion in 2025, at a CAGR of 15.5%.
This growth is driven by higher demand for faster delivery, the expansion of free trade agreements, the growth of rail infrastructure, industrial production increases, and expansion in logistics and supply chain services.
What Is The Expected Growth In The Intermodal Freight Transportation Market Size Evolve over the Forecast Period?
The intermodal freight transportation market is expected to maintain its strong growth trajectory in upcoming years.
• The intermodal freight transportation market is set to grow to $119.35 billion by 2029 at a CAGR of 15.1%.
The growth is driven by increasing global trade, higher e-commerce demand, urbanization, rising fuel costs, and the demand for refrigerated transport. Key trends include technological advancements, AI integration, real-time tracking, green logistics, and blockchain technology adoption.
What Main Forces Are Fueling Expansion In The Intermodal Freight Transportation Market?
The rise in industrialization is expected to drive the growth of the intermodal freight transportation market. Industrialization involves transitioning from an agricultural economy to a manufacturing-driven one. As industrialization grows, the demand for efficient logistics systems like intermodal freight transportation also rises, supporting global trade and economic growth. According to Statistics Canada in February 2023, Canada's manufacturing business saw a 17.9% increase in total sales to $850.9 billion in 2022.
What Are The Primary Segments In The Global Intermodal Freight Transportation Market?
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
Subsegments:
1) By Railway Transport: Freight Rail Transport (Long-Distance) Or Regional Rail Freight Transport Or Intermodal Rail Transport (Containerized And Trailerized) Or Rail Transport For Bulk Commodities (Coal, Grains)
2) By Road Transport: Freight Trucking (Long-Haul) Or Regional And Local Freight Trucking Or Container Trucking Or Refrigerated Trucking (For Perishables) Or Heavy-Duty Freight Trucks
3) By Air And Sea Transport: Air Freight Transport Or Sea Freight Transport (Ocean Freight) Or Air-Sea Combined Transport Or Air Freight For Time-Sensitive Cargo Or Sea Freight For Bulk Cargo (Containerized And Non-Containerized)
4) By Other Type: Inland Waterways Transport Or Multimodal Transport (Involving More Than Two Modes) Or Pipeline Transport For Bulk Liquids Or Gases Or Hybrid Intermodal Systems (Combining Rail, Road, And Sea Or Air Transport)
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Which Emerging Market Trends Are Altering The Intermodal Freight Transportation Industry?
Key players in the intermodal freight transportation market, like AI-based transport management solutions developers, are concentrating on the creation of cutting-edge technologies. These technologies aim to increase proficiency, streamline routes, and boost the overall performance of the supply chain. AI-based transport management solutions denote sophisticated systems using artificial intelligence to further improve and specialize various angles of transport management. For example, 3SC Solutions, a Dutch organization specializing in supply chain solutions, unveiled its Intelligent Transport Management Solution (iTMS) in September 2023. This solution fuses superior AI and machine learning technologies to provide real-time route adjustment, hence improving efficiency and lowering operational expenses. Predictive analytics features are a part of iTMS, allowing anticipation of potential disruptions and proactive adjustments to logistics strategies. Its dynamic dashboard grants full transparency into all transport activities, facilitating smooth coordination among various transport methods.
Who Are the Key Players In The Intermodal Freight Transportation Market?
Major companies operating in the intermodal freight transportation market are:
• Deutsche Post DHL Group
• FedEx Corporation
• A.P. Moller-Maersk A/S
• CMA CGM Group
• Deutsche Bahn AG
• Kuehne + Nagel International AG
• Hapag-Lloyd AG
• DSV A/S
• SAP SE
• DB Schenker
• C.H. Robinson Worldwide Inc.
• DP World
• J.B. Hunt Transport Services Inc.
• Canadian Pacific Railway Limited
• Schneider National Inc.
• Hub Group Inc.
• APM Terminals
• XPO Logistics Inc.
• Swift Transportation Company
• STG Logistics Inc.
• WiseTech Global Limited
• Yusen Logistics Co. Ltd.
• Air Ground Xpress
• CLX Logistics LLC
• LOGISTEED Ltd.
What Is The Most Dominant 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.
