Global Cargo Market

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 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 online taxi services market consists of sales of taxi services and related goods by entities (organizations, sole traders, and partnerships) that provide passenger transportation by automobile or van through online reservations or on a booking basis. This industry comprises establishments primarily engaged in providing passenger transportation by taxi that are booked by using a mobile application. These companies use online platforms and mobile applications to offer their services to customers. Examples include Uber, Lyft, and Didi. Taxis booked online through an app are mentioned in the report as ride-hailing services. This does not include taxis stopped on roadsides. Only goods and services traded between entities or sold to end consumers are included. The global online taxi services market is expected to grow from $23.42 billion in 2020 to $28.65 billion in 2021 at a compound annual growth rate (CAGR) of 22.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while 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 $41.22 billion in 2025 at a CAGR of 9.5%. The online taxi services market covered in this report is segmented by service type into ride-hailing; ride sharing and by vehicle type into motorcycles; cars. Rising internet penetration drives the demand for the online taxi services market. The availability of high-speed internet connectivity and convenience associated with using online services is shifting consumer preferences towards online taxi services. According to the Internet World Stats, the number of internet users increased from 4,208 million to 4,833 million in June 2020. Furthermore, internet users in India are expected to grow from 636.73 million in 2019 to 974.86 million by the end of 2025. A growing number of internet users with smartphones now have taxi services at their fingertips that give the drivers’ details and location and benefit the user and thereby fuel the demand for the online taxi services market. Stringent regulations imposed on online taxi services operations limit the growth of the online taxi services market. Many cases of assault and molestation have been registered against online taxi services as a result of which governments across the world have imposed strict regulations on the providers. In 2018, were 5,981 claims of sexual assaults were reported by Uber. These incidents call for a strong policy to secure customers. Governments have imposed strict background checks on Uber and Lyft drivers and mandatory fingerprint background check to avoid such incidents any further. Other regulations imposed by governments to comply with the service providers include India’s Motor Vehicle (Amendment) Bill 2016 and Information Technology Act, 2000, Malaysia’s Commercial Vehicles Licensing Board Act 1987 (Act 334) (“CVLBA 1987”) and the Land Public Transport Act 2010 (“LPTA 2010”)(Act 715). The laws under the act regulate both e-hailing operators and drivers. Moreover, e-hailing service providers are mandated to have an intermediation business license to operate their business in Malaysia. Thus, the stringent rules and regulations imposed on taxi services are restricting the online taxi services market growth during the forecast period. The launch of self-driving taxi services is gaining popularity in the online taxi services market. Major players operating in the industry are continuously focused on introducing innovations and technologies to better serve the needs of consumers. For instance, in August 2020, AutoX, an autonomous driving startup announced the public launch of robo-taxi services in China. In December 2018, Waymo LLC, a US-based autonomous driving technology development company, launched self-driving taxi services for paying customers in Arizona, USA. Moreover, in October 2019, Ola, a ride-hailing firm introduced Ola Drive, self-driving car-sharing services in multiple locations in India including Bangalore, New Delhi, Mumbai, and Hyderabad. In September 2019, Mahindra & Mahindra, an Indian multinational vehicle manufacturing corporation announced the acquisition of 55% stakes in Meru Cabs, a taxi cab service provider for $27.3 million (Rs 201.5 crore). With the acquisition of Meru Cabs, Mahindra & Mahindra plans to expand its business with participation in the growing shared mobility space. Meru Cabs is an India-based ridesharing company operating in the ride-hailing segment and corporate transportation solutions. The major players covered in the global online taxi services market are ANI Technologies Private Limited, Uber India Systems Private Limited, Lyft Inc., Didi Chuxing, GrabTaxi Holdings Pte Ltd, Carzonrent (India) Private Limited, Mega Cabs Private Limited, Meru Mobility Tech Private Limited, Savaari Car Rentals Private Limited, Go-Jek, Kabbee, Hailo, Flywheel, Curb, Yellow Cab, mytaxi, Meru Mobility Tech Private Limited, Savaari Car Rentals Private Limited, Go-Jek, Kabbee, Hailo, Flywheel, Curb, Yellow Cab, mytaxi. The countries covered in the global online taxi services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global online taxi services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global online taxi services market is segmented - 1) By Service Type: Ride-Hailing, Ride Sharing 2) By Vehicle Type: Motorcycles, Cars 3) By Payment Mode: Online, Cash 4) By Ride Type: Individual, Car Pool/ Share

The domestic couriers market consists of the sales of the guaranteed express delivery services of small packages and parcels, in metropolitan areas, urban centres within a country. The market includes the sales of various courier and local delivery services which finds applications in various business models such as Business-to-Business (B2B), Business-to-Consumer (B2C) and Consumer-to-Consumer (C2C). The global domestic couriers market is expected to grow from $36.48 billion in 2020 to $39.86 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $68.48 billion in 2025 at a CAGR of 14%. The domestic couriers market covered in this report is segmented by type into ground, express, deferred. E-commerce trade is expected to be one of the major drivers of the global domestic courier service market. As the buying and selling of goods and services over the internet continues to grow, the courier or parcel volumes will increase and thereby drive the demand for courier delivery services. E-Commerce or electronic commerce or internet commerce refers to is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. Few examples of E- commerce websites include the online stores such as Amazon, Ebay, Quikr, Olx and more. The emergence of ecommerce has made products easier to discover and purchase through online retailers and marketplaces and benefited Independent freelancers, small businesses, and large corporations by enabling them to sell their goods and services at a higher scale. Thus, the growing E-commerce industry is anticipated to drive the domestic courier market in the forecast period by enhancing the courier or parcel delivery service opportunities within the country. In-house delivery networks are expected to restrict the growth of the courier and local delivery services market in the US. In-house delivery refers to the retailers using their own dedicated delivery staff and own fleet of vehicles to deliver orders to customers. For instance, Tesco, a British multinational grocery and merchandise retailer uses in-house delivery quite successfully and the other example includes pizza delivery by Domino’s company. Thus, the increasing adoption of in-house delivery units by retailers is anticipated halt the growth of courier and local delivery service market in the forecast period. E-locker delivery system is a computerized electronic locker system used for the security of delivering and retrieving or recovering parcels. Each locker station may include a set of individual lockers of various sizes, each with an electronic controlled release operated door latch. Each locker station has an input/output device(s) that is electronically connected to an internal computer. This makes an ideal solution for apartments, dormitories, businesses, and other applications that handle the ongoing delivery of packages and parcels. For instance, Packcity is an automated electronic locker system that securely stores and distributes inbound parcels, informs recipients that a parcel has arrived and allows 24/7 collections. Packcity enables to store and distribute a large volume of incoming parcels. Its easy-to-use interface allows recipients to track parcels and inform them about the arrival of their parcel. Since the emergence of E-locker delivery system solves the problems of rising parcel deliveries, it is anticipated to be an important trend that drives the domestic courier market. In March 2019, Delhivery, a Gurugram-based logistics provider for ecommerce companies acquired Aramex for an undisclosed amount. Through this acquisition Delhivery will take over Aramex India’s pick-up and delivery shipment operations. Aramex, a UAE based logistics, courier and package delivery company. The major players covered in the global domestic couriers market are FedEx Corporation, United Parcel Service Inc., A-1 Express , SF Express Co. Ltd., UPS Limited, DHL Express, Yunda Holding Co., Ltd., Royal Mail, Japan Post Group, China Post, USPS, Deutsche Post AG, Canada Post Corporation, Eastern Connection (United States), New Zealand Post, Allied Express (Australia), Aramex (United Arab Emirates), TFI International Inc., Shanghai YTO Express (Logistics) Co. Ltd. The countries covered in the global domestic couriers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global domestic couriers market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global domestic couriers market is segmented - 1) By Type: Ground, Express, Deferred 2) By Application: Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C) 3) By End User: BFSI, Wholesale And Retail Trade, Construction, Manufacturing, Others

The carpooling market consists of sales of carpooling which is also known as shared mobility is the most technologically advanced transportation system that enables users to book a short distance ride as and when needed. The sales consist of revenues generated by establishments that are primarily engaged in the booking of the car by online carpooling platforms and app-based carpooling. The global carpooling market is expected grow from $13.06 billion in 2020 to $20.56 billion in 2021 at a compound annual growth rate (CAGR) of 57.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while 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 $35.29 billion in 2025 at a CAGR of 14%. The car-pooling market covered in this report is segmented by type into online carpooling platforms, app-based carpooling. Government initiatives to minimize the carbon emissions is likely to drive the carpooling market. Major metropolitan cities have traffic congestion with increase in the vehicle density on the roads, increasing the carbon emissions. For instance, cities such as New York, Seoul and Shanghai are among the top 10 cities with highest carbon foot print. In an attempt to curb the emission rates, governments and companies are encouraging car-pooling to commute in the cities. In the Paris agreement on climate change, countries have set determined targets for carbon footprint reduction by 2030. For instance, the Delhi government in India has introduced odd-even scheme to control the traffic density and keep a check on the carbon emission in the city. Corporates such as Amazon, Infosys are also encouraging car-pooling to commute to workplaces to reduce the congestion and air pollution. The initiatives to keep a check on carbon emissions thereby contribute to the growth of the market. Complex policies of different countries are anticipated to limit the expansion of the carpooling industry during the next coming years. Stringent policies encumber the businesses and bounds the carpooling players to function smoothly. For instance, in 2019 the Government of India (GOI) enforced guidelines to ensure that carpooling is a no-profit no-loss service in order to help the citizens with odd-even policy that has been introduced to reduce the carbon emission. The transport ministry of India issued guidelines for private car owners for ride-sharing, which mandates the KYC for users and limits the maximum number of rides taken per day to four. Therefore, the government guidelines drafted by various countries are projected to act as a major restraint for the growth of the carpooling market during the forecast period. Automobile manufacturers are increasingly venturing into mobility services to cater to the growing demand for car-pooling services. For instance, major automobile manufacturers, namely BMW and Daimler have merged their car-sharing ventures to expand geographically in 2018. Similarly, in February 2020, Tesla announced plans to launch ride-sharing application. Automakers investing in carpooling applications will contribute to the growth of the market. In June 2018, BlaBlaCar, a French online marketplace for carpooling acquired Beepcar for undisclosed amount. BlaBlaCar committed for a partnership to promote its carpooling services through Mail.Ru’s various platforms, which include social networking sites, instant messaging, search engines, and ecommerce portals. BeepCar is the online service of search of fellow travelers on automobile trips developed by Mail.Ru Group. The major players covered in the global carpooling market are Didi Chuxing, Dida Chuxing, Uber, Via Transportation, Lyft Line, Waze Carpool, Zimride, Carma, Scoop Technologies, Splitting Fares, Wunder Carpool, BlaBlaCar, Karos, Grab, Ryde, Ola, SRide, Meru Carpool, Car2Go Ltd., Cambio CarSharing, Ridejoy, Getaround, JustShareIt, Zimride. The countries covered in the global carpooling market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global carpooling market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global carpooling market is segmented - 1) By Type: Online Carpooling Platforms, App-based Carpooling 2) By Application: Businesses, Individuals, Schools, Others 3) By Car Type: Economy, Executive, Luxury

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