Global Freight Forwarding Market

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 car 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 main types of freight cars market covered in this report are intermodal, tank wagons, and freight cars. The tank wagon is defined as a vehicle that is designed to carry gasses or liquids. It is also segmented by application into coal, petroleum and chemicals, metals and minerals, automobiles, agricultural products, and Other Applications. It is also segmented by end-use industries into agriculture, construction, oil and gas, chemical, medical and pharmaceuticals, food and beverages, government and defense, automotive and transportation, and marine. The global freight cars market size is expected to grow from $137.85 billion in 2021 to $143.51 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The freight cars market is then expected to grow to $178.57 billion in 2026 at a CAGR of 5.6%. 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 contracts with major customers, providing incentives to container traffic, tariff rationalization 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 Other Applications. Investments in railway infrastructure have 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 that 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 2020, the Customs department of India imposed stringent rules on the free-trade agreement import of white goods to check undue dumping of these commodities under FTAs from non-producing countries. It aims to check the 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 is 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. The incorporation of GPS technologies into freight cars by rail operators helps in managing the transport process, scheduling freight cars, maintaining a consistent delivery process, and reducing the 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 the 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 offerings 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. Major players in the freight cars market are CN Railway, DB Schenker, Union Pacific, Kansas City Southern, CSX Corporation, Norfolk Southern Corporation, Housatonic Railroad Company, and Linfox Pty Ltd. Asia Pacific was the largest region in the freight cars market in 2021. North America was the second largest region in the freight cars market. The regions covered in the freight car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the freight cars market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. 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 and Gas, Chemical, Medical and Pharmaceuticals, Food and Beverages, Government and Defense, Automotive and Transportation, Marine

The freight chartered air transport services market consists of sales of freight chartered air transportation services by entities (organizations, sole traders, and partnerships) that use aircraft, such as airplanes and helicopters, to provide chartered (non-scheduled) air transportation services for cargo at a toll per mile or hour for the charter of the aircraft. Only goods and services traded between entities or sold to end consumers are included. The main cargo types in the freight chartered air transport services market are time-critical cargo, heavy and outside cargo, dangerous cargo, animal transportation, and others. The dangerous cargo involves the shipment of substances that are at a risk to health, property, safety, or the environment. The freight chartered air transport market is segmented by application into private use and commercial use and by end-use into wealthy individuals, sports teams, and large corporations. The global freight chartered air transport market size is expected to grow from $20.92 billion in 2021 to $23.64 billion in 2022 at a compound annual growth rate (CAGR) of 13%. The freight chartered air transportation market is expected to grow to $36.68 billion in 2026 at a CAGR of 11.6%. The growing need for urgent shipment of dangerous goods and hazardous materials is expected to drive the freight chartered air transport market. Sensitive freights with dangerous goods including explosives, highly inflammable, gases, radioactive materials, and military items, toxic and infectious substances require a special skill set and expert knowledge for shipping the goods. These goods are transported through chartered cargo to avoid explosions and contaminations. For instance, the Federal Aviation Administration (FAA) of the USA, granted the authority for chartered cargo services along with training for all employees, in the form of a part-135 certificate, to operate on demand under FAA-approved hazardous materials program. Urgent shipment of dangerous goods and hazardous materials is therefore expected to drive market growth. High prices associated with charter cargo flight services are expected to hinder the freight chartered air transport market. The cost of the cargo charter depends on many factors such as origin and destination points, type of commodity shipped, dimensions, and weights. For instance, the freight and logistics prices are above $500,000 for an Asia-Europe A330 charter and above $21 per kilogram on transatlantic routes for some urgent shipments. Additionally, the cost of B777 or B747 carrying 100 tonnes of cargo was $470,000 earlier, which is now costing between $850,000 and $1 million for a round trip with e-commerce goods and general cargo from Europe to China. Therefore, the skyrocketing cost of freight charter services is expected to hinder the market. Major players in the freight chartered air transport services market are Air Charter Service, Air Transport Services Group Inc., Stratos Jet Charters Inc., Cargo Air Chartering, Cathay Pacific Airways Ltd., Air Partner, and Fliteline. North America was the largest region in the freight chartered air transport services market in 2021. Asia Pacific was the second largest region in the chartered freight air transport services market. The regions covered in the freight chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the freight chartered air transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global freight chartered air transport market is segmented - 1) By Cargo Type: Time Critical Cargo, Heavy and Outside Cargo, Dangerous Cargo, Animal Transportation, Others 2) By Application: Private Use, Commercial Use 3) By End-Use: Wealthy Individuals, Sports Teams, Large Corportations

The general freight trucking market consists of sales of general freight trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide general freight trucking services. Establishments in the general freight trucking industry handle a wide variety of commodities, generally palletized, and transported in a container or van trailer. They also provide network activities such as local pickup, local sorting, and terminal operations, line hauling, destination sorting and terminal operations, and local delivery. The main types in the general freight trucking market are local general freight trucking, and long-distance general freight trucking. The local general freight trucking handles a wide variety of commodities, generally palletized, and transported in a container or van trailer. The general freight trucking market is also segmented by size into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others The global general freight trucking market size is expected to grow from $773.46 billion in 2021 to $853.45 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The general freight trucking market is then expected to grow to $1,212.59 billion in 2026 at a CAGR of 9.2%. With the entry of automated vehicles with high-tech safety measures, cameras, radar, and Lidar sensors guiding the way, companies can save money through less fuel and more frequent schedules. Major companies in the general freight trucking market include Xiamen C&D, United Parcel Service Inc., C.H. Robinson Worldwide Inc, FedEx Corporation, XPO Logistics Inc., J.B. Hunt Transport Services, YRC Worldwide Inc., Deutsche Post AG, Old Dominion Freight Line Inc, and Landstar System Inc. Asia-Pacific was the largest region in the general freight trucking market in 2021. North America was the second largest region in the general freight trucking market. The regions covered in the general freight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the general freight trucking market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global general freight trucking market is segmented - 1) By Type: Local General Freight Trucking, Long-Distance General Freight Trucking 2) By Application: Oil and Gas, Industrial and Manufacturing, Energy and Mining, Food and Beverages, Pharmaceuticals and Healthcare, Others 3) 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 main types of transportation in the inland water freight transport market are liquid bulk transportation and dry bulk transportation. Dry bulk transportation involves the shipment of dry raw materials in large unpackaged parcels. It is also segmented by fuel into heavy fuel oil, diesel, biofuel, and others and by vessel type into cargo ships, container ships, tankers, and others. The global inland water freight transport market size is expected to grow from $15.91 billion in 2021 to $16.71 billion in 2022 at a compound annual growth rate (CAGR) of 5.0%. The inland water freight transport market is then expected to grow to $19.34 billion in 2026 at a CAGR of 3.7%. 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 cargo 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 ton 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 US energy information administration data, crude oil prices rose during the year 2021, with Brent crude oil spot prices averaging $71/b for the year compared with $42/b in 2020., 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, which 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 cargo. In April 2020, Kirby Corporation, a USA-based waterway transport company acquired Savage Inland Marin’s inland barge fleet for $278 million. With this acquisition, Kirby Corporation will be enabled to provide better service to customers’ fleeting needs with young and well-maintained vessels. Savage Inland Marine is a USA-based company operating in inland water freight transport. Major players in the 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, and Imperial Logistics International. Western Europe was the largest region in the inland water freight transport market in 2021. Asia Pacific was the second largest region in the inland water freight transportation market. The regions covered in the inland water freight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the inland water freight transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. 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 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 that may cross state lines. Generally, the trips are same-day returns. Only goods and services traded between entities or sold to end consumers are included. The main types of local general freight trucking are truckload transportation, less-than-truckload transportation, intermodal transportation, dry-bulk transportation, and others. Intermodal transportation involves the movement of large-sized goods through more modes of transport in containers. The local general freight trucking market is segmented by type into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others The global local general freight trucking market size is expected to grow from $121.99 billion in 2021 to $126.07 billion in 2022 at a compound annual growth rate (CAGR) of 3.3%. The local general freight trucking market is then expected to grow to $136.75 billion in 2026 at a CAGR of 2.1%. 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. The 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 benefits 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 about temperature, humidity, pressure, shock, and tilt at the parcel level. Major players in the 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, and Swift Transportation. Asia-Pacific was the largest region in the local general freight trucking market in 2021. North America was the second largest region in the local general freight trucking market. The regions covered in the local general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the local general freight trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global local general freight trucking market is segmented - 1) By Type: Truckload Transportation, Less-than-Truckload Transportation, Intermodal Transportation, Dry-Bulk Transportation, Others 2) By Size: Heavy Trucks, Medium Trucks, Light Trucks 3) By Application: Oil and Gas, Industrial and Manufacturing, Energy and Mining, Food and Beverages, Pharmaceuticals and Healthcare, 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. Only goods and services traded between entities or sold to end consumers are included. The main services in the long-distance general freight trucking market are general long-distance truckload carriers, general long-distance less-than-truckload carriers, and other transportation services. The general long-distance truckload carriers provide long-distance general freight trucking between metropolitan areas. The long-distance general freight trucking market is segmented by activities into general long-distance truckload transit, general long-distance less-than-truckload transit, logistics planning, container trucking long-distance, and motor freight trucking long-distance. It is also segmented by size into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others The global long-distance general freight trucking market size is expected to grow from $651.47 billion in 2021 to $727.38 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%. The long-distance general freight market is then expected to grow to $1,075.84 billion in 2026 at a CAGR of 10.3%. An increase in the 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 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. In June 2020, Mark-It Express Logistics, 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 its market share. Sava Transportation is a US-based company specializing in intermodal traffic. Major players in the 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, and Reynold Transportation. Asia Pacific was the largest region in the long-distance general freight trucking market in 2021. North America was the second largest region in the long-distance general freight trucking market. The regions covered in the long-distance general freight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the long-distance general freight trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. 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 and Gas, Industrial and Manufacturing, Energy and Mining, Food and Beverages, Pharmaceuticals and Healthcare, Others 4) By Size: Heavy Trucks, Medium Trucks, Light Trucks

The rail freight market consists of sales of rail freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide the carriage of goods from a point of loading, or goods station, to a point of unloading, again a station capable of handling the loading and unloading of the goods carried. These goods are generally heavy in bulk and of low value with their bulk. The main types in the rail freight market are intermodal, tank wagons, and freight cars. The freight cars are used to transport and carry goods. The rail freight market is also segmented by freight type into containerized, liquid, commodities, and others and by application into oil and gas, mining industry, logistic industry, post-service, and others. The global rail freight market size is expected to grow from $242.53 billion in 2021 to $258.11 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The rail freight market is then expected to grow to $318.42 billion in 2026 at a CAGR of 5.4%. Tracking and tracing systems of rail freight using GPS and GSM helps the transportation organizations to overcome the rail freight transportation drawbacks such as loss and theft. It provides full-fledged security and monetarization of freights and more effective and efficient freight transportation over short distances for smaller loads. ViWaS project equipped with smart telematics systems in Europe has introduced tracking technology in rail freight. Major companies in the rail freight market include Duetsche Bahn AG, BNSF Railway, Indian Railways, JSC Russian Railways, Union Pacific Corp, China Railway Corporation, Berkshire Hathaway Inc., Canadian National Railway, CSX Corp, and Norfolk Southern Corp. Asia Pacific was the largest region in the rail freight market in 2021. North America was the second largest region in the rail freight market. The regions covered in the rail freight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the rail freight market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global rail freight market is segmented - 1) By Type: Intermodals, Tank Wagons, Freight Cars 2) By Destination: Domestic, International 3) By Application: Oil and Gas, Mining Industry, Logistic Industry, Post Service, Others 4) By Freight Type: Containerized, Liquid, Commodities, Others

The specialized freight trucking market consists of sales of specialized freight trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide over-the-road transportation of household and office goods. The main types in specialized freight trucking are automobiles and heavy equipment, bulk liquids, dry bulk materials, forest products, and refrigerated goods. Automobiles refer to a passenger vehicle designed for operation on ordinary roads and mainly having four wheels and a gasoline or diesel internal-combustion engine. Heavy equipment is used to describe the heavy-duty machines that are used in the construction, forestry, agriculture, and mining industries. These machines are used to move earth and other large materials, but they are also used to drill, lift, grade, suction, pave, and compact. The specialized freight trucking market is also segmented by size into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others. The global specialized freight trucking market size is expected to grow from $889.89 billion in 2021 to $980.49 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The specialized freight trucking market is then expected to grow to $1,381.77 billion in 2026 at a CAGR of 9%. The specialized freight trucking services market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in end-user markets, thereby driving the market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the specialized freight trucking market in 2020 as governments imposed lockdowns and restricted the movement of people and goods to contain the transmission. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including to Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak harmed businesses throughout 2020 and 2021. However, it is expected that the specialized freight trucking market will recover from the shock. Truck transportation companies are widely using collision mitigation technology to reduce loss of lives and damages associated with accidents. Collision mitigation system detects the impending strike and alerts the driver about any collision. These systems are installed within the vehicle and in case of an imminent accident, they can take an action automatically without the driver’s input. These systems are becoming standard inbuilt feature on many new trucks in many countries globally. For instance, according to US Department of transportation data 2019,Twenty automakers pledged to voluntarily equip virtually new passenger vehicles by 2022, with a low-speed AEB system that includes forward collision warning (FCW), technology proven to help prevent and mitigate front-to-rear crashes The agency stated that this could prevent nearly 2000 crashes every year. Major companies manufacturing these systems for trucks include Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., and General Electric Company. Major companies in the specialized freight trucking market include Cargill Incorporated, Toyota Motor Corp, FedEx Corporation, Energy Transfer Partners LP, Thyssenkrupp AG, Plains GP Holdings, A.P. Møller-Mærsk A/S, Toyota Tsusho, CJ Corp, and Knight-Swift Transportation Holdings Inc. Asia Pacific was the largest region in the specialized freight trucking market in 2021. North America was the second largest region in the specialized freight trucking market. The regions covered in the specialized freight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the specialized freight trucking market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global specialized freight trucking market is segmented - 1) By Type: Automobiles and Heavy Equipment, Bulk Liquids, Dry Bulk Materials, Forest Products, Refrigerated Goods 2) By Application: Oil and Gas, Industrial and Manufacturing, Energy and Mining, Food and Beverages, Pharmaceuticals and Healthcare, Others 3) By Size: Heavy Trucks, Medium Trucks, Light Trucks