Global Freight Transport Market Size, Share, Growth Analysis Report - Forecast 2034

Global Freight Transport Market: Industry Perspective

The global freight transport market size was worth around USD 7.19 Billion in 2024 and is predicted to grow to around USD 12.25 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 5.1% between 2025 and 2034. The report analyzes the global freight transport market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the freight transport industry.

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Global Freight Transport Market: Overview

Freight transport is a key component of supply chain and logistics systems. Moreover, it is defined as a process of moving sorted items from one place to their destination through various modes of transport such as roadways, aircraft, seaways, and railways. It is used for transporting freight to distant locations and hence it is utilized in retail, automotive, pharmaceuticals, e-commerce, energy, and aerospace sectors.    

Global Freight Transport Market: Growth Factors

Rise in demand for freight transport in e-commerce activities to spearhead the global market trends 

The thriving e-commerce sector along with escalating requirements of fleet tracking, maintenance of warehouse management systems, and a rise in the need for effective 3PL services will steer the expansion of the global freight transport market. The need for effective freight transport activities and supply chain execution competencies will prompt a global market surge in the upcoming years. Additionally, the massive need for reducing fixed expenditure, logistics costs, and inventory costs is likely to provide impetus to the expansion of the global market. Moreover, surging globalization has contributed majorly to the growth of the market across the globe. In addition to this, freight transport helps in reducing capital costs, door-to-door service costs, and costs of products in transit due to insurance coverage of products, thereby driving the global market trends. Industry 4.0 revolution and swift industrialization will steer the expansion of the market across the globe. The humungous need for prompt product delivery will chart a profitable roadmap for the global market.  

Restraints:

An increase in the fuel emissions from diesel can put brakes on freight transport activities in coming years

A rise in carbon emissions and an increase in the costs of diesel can hamper the growth of the global freight transport industry. In addition to this, ongoing conflicts between Israel and Hamas as well as Russia and Ukraine have hampered the expansion of the global industry.  

Opportunities:

Technological innovation in freight transport to open new growth avenues for the global market 

Technological breakthroughs and the need for developing new freight transport solutions are likely to improve the position of the giant players in the global freight transport market. This will also help the market expand by leaps & bounds in the coming decade. For instance, in the last quarter of 2020, CargoSmart, a key software firm based in Hong Kong, introduced an IoT-driven ‘CargoSmart Connected Reefer Solution’ for shippers and ocean carriers.

Challenges:

Strict government legislation over the transport of particular goods can prove to be a huge challenge for the global industry over the coming years

Strict government laws pertaining to the transport of particular types of products which can be toxic in nature as well as restrictions placed on transport of certain perishable goods can pose a huge challenge for the expansion of the global freight transport industry in the upcoming years.

Key Insights

• As per the analysis shared by our research analyst, the global freight transport market is estimated to grow annually at a CAGR of around 5.1% over the forecast period (2025-2034).
• Regarding revenue, the global freight transport market size was valued at around USD 7.19 Billion in 2024 and is projected to reach USD 12.25 Billion by 2034.
• The freight transport market is projected to grow at a significant rate due to expanding global trade, e-commerce boom, and infrastructure development in road, rail, air, and maritime logistics.
• Based on Mode, the Road segment is expected to lead the global market.
• On the basis of Service, the Full Truckload (FTL) segment is growing at a high rate and will continue to dominate the global market.
• Based on the End-user Industry, the Retail segment is projected to swipe the largest market share.
• Based on region, North America is predicted to dominate the global market during the forecast period.

Global Freight Transport Market: Report Scope

Global Freight Transport Market: Segmentation Analysis

The global freight transport market is segmented based on Mode, Service, End-user Industry, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2025 to 2034.

Based on Mode, the global freight transport market is divided into Road, Rail, Air, Sea.

On the basis of Service, the global freight transport market is bifurcated into Full Truckload (FTL), Less Than Truckload (LTL), Express, Courier.

By End-user Industry, the global freight transport market is split into Retail, Automotive, Oil & Gas, Food & Beverages, Industrial Manufacturing.

The Regional, this segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America,and the Middle East and Africa.

Global Freight Transport Market: Regional Insights

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The freight transport market exhibits diverse regional dynamics shaped by economic growth, trade flows, and infrastructure development. North America remains a major market, driven by strong domestic logistics networks, e-commerce expansion, and cross-border trade with Canada and Mexico. Europe’s market benefits from robust intra-regional trade, advanced rail and road infrastructure, and environmental regulations pushing shifts toward greener transport modes. In Asia-Pacific, rapid urbanization, manufacturing dominance, and Belt and Road initiatives are fueling significant growth, particularly in China, India, and Southeast Asia. Meanwhile, Latin America, the Middle East, and Africa are witnessing steady growth, supported by improving trade corridors, infrastructure investments, and rising demand for efficient supply chain solutions, although challenges like political instability and logistics inefficiencies persist in some areas. Overall, the global freight transport market is evolving with digitalization, sustainability efforts, and shifting trade dynamics shaping regional developments.

Key Developments

• In September 2024, Maersk A/S, a key shipping & logistics firm based in Denmark, launched a new freight transport service in Asian countries such as China.
• In November 2024, Qatar Airways launched a new automotive transport product referred to as Drive for transporting automobiles by air.
• In the second half of 2024, 3SC Solutions introduced an intelligent transport management solution, an integrated transportation management system, which makes use of AI and data analytics along with an effective combination of a complete logistics transportation lifecycle.
• In the third quarter of 2024, Flexport introduced an end-to-end AI-driven supply chain solution for entrepreneurs in the freight, retail, and finance sectors.
• In March 2024, Kuehne + Nagel established a new transport operation center in India which will study the supply chain network for streamlining the logistics operations and increase the efficiency of freight transportation activities.
• In May 2024, Tata Motors introduced e-cargo transport services with Ace electric vehicle, a zero-emission four-wheeled small commercial vehicle of electric type, which can be used for intra-city services in India.

Global Freight Transport Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the freight transport market on a global and regional basis.

The global freight transport market is dominated by players like:

• CEVA Logistics
• Nippon Express Holdings
• FedEx
• DB Schenker Logistics
• DSV PANALPINA A/S
• Deutsche Post AG
• United Parcel Service of America Inc.
• Kuehne + Nagel International AG
• Schneider National Inc.
• Oracle Inc.
• SAP SE
• C.H. Robinson Worldwide Inc.
• Kerry Logistics Network Limited
• CJ Logistics Corporation
• Others.

Global Freight Transport Market: Segmentation Analysis

The global freight transport market is segmented as follows;

By Mode

• Road
• Rail
• Air
• Sea

By Service

• Full Truckload (FTL)
• Less Than Truckload (LTL)
• Express
• Courier

By End-user Industry

• Retail
• Automotive
• Oil & Gas
• Food & Beverages
• Industrial Manufacturing

Global Freight Transport Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America