The intermodal freight transportation market is expected to reach $ 73.38 billion by 2026, according to a new report from Reports and Data.
NEW YORK, NY, UNITED STATES, October 11, 2021 /EINPresswire.com/ – Intermodal freight transport market is expected to reach $ 73.38 billion by 2026, according to a new report from Reports and Data. Intermodal freight transport involves the transport of goods in a container or intermodal vehicle, using more than one mode of transport such as rail, truck and boat, without any direct handling of the freight itself when changing fashion. The non-invasive method reduces cargo handling, thereby reducing damage and loss, improving safety, and moving cargo faster. Cost reduction compared to highway trucking is the key convenience for intercontinental use. This can be compensated by reduced lead times for road transport over shorter distances.
The colossal increase in trailer and container traffic across countries has played a major role in the growth of the cargo handling market, and this has grown significantly in recent years due to the increased demand for end users to transport their products. without issue. The increase in imports and exports of products has also influenced the market, resulting in significant growth in regional, national and international logistics. Booming industrial sectors and expanding supply chains are driving market growth.
Besides the determining factors, the constraints of the market growth include the lack of knowledge of the general population regarding the safe transport mechanisms. This is further hampered by the underdeveloped infrastructure to support the growth of the market.
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The Asia-Pacific region has turned to importing and exporting goods with major developments in free trade agreements. Developing countries expect China and India to be the leaders in the global cargo handling market. These countries account for over 35% of the population across the world, and the application of freight transport in this region will grow at a very high rate.
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Other key findings from the report suggest
The fleet management segment is expected to experience a CAGR of 7.2% during the forecast period. Fleet management is the management of goods, equipment and utility vehicles such as cars, vans, trucks, specialty vehicles, forklifts and trailers, which continue to grow with increasing demand.
The minerals and ores segment held the largest market share of 27.3% in 2018. This is due to the increase in trade and construction activities. These materials are mainly transported by rail and therefore intermodal freight transport facilities are heavily used.
The industrial and manufacturing segment held the largest market share of 21.6% in 2018. This is due to the high locomotion of materials and minerals using the transportation systems. Mining activities, as well as construction, activate accordingly, increase the growth of freight transportation market.
Asia-Pacific is expected to experience a CAGR of 6.8% during the forecast period. Countries like Japan, China and India are rapidly catching up with the growth of the intermodal freight transport market.
The main participants are AP Moller – Maersk, CH ROBINSON, Aljex Software Inc., GE Transportation, Cognizant, Deutsche Bahn, Deutsche Post DHL Group, Kuehne + Nagel, UPS, Trinium Trucking Systems (IAS), among others.
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For the purpose of this report, reports and data have been segmented into the global Intermodal Freight Transportation market on the basis of product type, solution type, end-users, and region:
Outlook Product Type (Revenue, USD Billion; 2016-2026)
Minerals and ores
Food and farm products
Equipment and instruments
Outlook Solution Type (Revenue, USD Billion; 2016-2026)
End User Outlook (Revenue, USD Billion; 2016-2026)
Oil and gas
Aeronautics and Defense
Industrial and manufacturing
Food and drinks
Regional Outlook (Revenue, USD Billion; 2016-2026)
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