What Has Been the Growth Trajectory for the Oversized Cargo Transportation Market in Recent Years?
The oversized cargo transportation market has seen considerable growth due to a variety of factors.
• In recent times, there has been a steady expansion in the market size of oversized cargo transportation. It is anticipated to surge from $204.81 billion in 2024 to $213.62 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.3%.
The notable increase during the former period can be ascribed to factors such as the growth of emerging markets, expansion of the construction industry, advancement in the renewable energy sector, escalated governmental support, and the development of the air cargo transportation sector.
How Does the Forecast Look for the Oversized Cargo Transportation Market?
The oversized cargo transportation market is expected to maintain its strong growth trajectory in upcoming years.
• The market for oversized cargo transportation is predicted to witness substantial expansion in the upcoming years, increasing to a whopping $264.45 billion by 2029, with a CAGR of 5.5%.
This augmentation during the anticipated period can be credited to factors such as global population increase, urbanization, the thriving automotive sector, upsurge in international trade, and a heightened requirement for raw materials by manufacturing sectors. Key trends foreseen in this timeframe include the development of hefty cargo transport hubs, emphasis on the establishment of novel cargo units to fortify transportation provisions, spurt in strategic consolidations and takeovers by market participants, meticulously planned rail transport to boost the railway network's efficiency, incorporation of AI to furnish real-time analysis and amalgamation in freight vehicles, and the application of IoT in vehicles and fleet administration software for efficacy enhancements.
What Are The Essential Drivers Behind The Growth Of The Oversized Cargo Transportation Market?
The oversized cargo transportation market is likely to be boosted by the growth of the construction industry. The construction sector involves all activities related to the production, refurbishing, and upkeep of infrastructure. This sector often requires the transportation of large equipment and pre-fabricated units, hence the increased demand for oversized cargo transport. For example, the South Korean government intends to allocate 2.7 trillion won, approximately $2 billion, for construction expenditures in the first half of 2024 reflecting a 20% surge compared to 2023. Furthermore, Invest India, a body that caters to investors seeking investment avenues in India, forecasts that the Indian construction sector could reach a valuation of $1.4 trillion by 2025. Thus, the enlargement of the construction sector is a key driver for the growth of the oversized cargo transportation market.
How Are The Segments Defined Within The Global Oversized Cargo Transportation Market?
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
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How Are New Trends Expected To Influence The Growth Of The Oversized Cargo Transportation Market?
Leading businesses in the oversized cargo transportation market are leveraging artificial intelligence (AI) to deliver precise analyses and live transportation operations, transport planning, and foresight-driven operations. AI application in oversized cargo transportation enhances operational optimization and capacity expansion. For instance, in December 2022, CJ Logistics, a firm based in South Korea, introduced The Unban, a platform for freight transportation that links senders and freight trucks directly using AI and big data technologies. This platform empowers a freight truck proprietor to opt for a transportation bid following the upload of details such as departure point, destination, and type of cargo by a bidder.
Who Are the Key Players in the Oversized Cargo Transportation Market?
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
What Is The Most Dominant Region 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.
