Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 7.19 Billion | USD 12.25 Billion | 5.1% | 2024 |
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.
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.
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.
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.
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.
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.
Report Attributes | Report Details |
---|---|
Report Name | Freight Transport Market |
Market Size in 2022 | USD 30 Billion |
Market Forecast in 2030 | USD 73 Billion |
Growth Rate | CAGR of 11.4% |
Number of Pages | 212 |
Key Companies Covered | 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, and others. |
Segments Covered | By Offering, By Mode of Transport, By Vertical, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
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.
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.
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:
The global freight transport market is segmented as follows;
By Mode
By Service
By End-user Industry
FrequentlyAsked Questions
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.
The global freight transport market is expected to grow due to expanding global trade, e-commerce boom, and infrastructure development in road, rail, air, and maritime logistics.
According to a study, the global freight transport market size was worth around USD 7.19 Billion in 2024 and is expected to reach USD 12.25 Billion by 2034.
The global freight transport market is expected to grow at a CAGR of 5.1% during the forecast period.
North America is expected to dominate the freight transport market over the forecast period.
Leading players in the global freight transport market include 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, and others., among others.
The report explores crucial aspects of the freight transport market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
HappyClients
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.
Our support available to help you 24 hours a day, five days a week.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed