The requirement of supply chain management due to the increase in consumer demand is propelling the growth of the market. Market Size – $ 42.98 Billion in 2018, Market Growth – 6.9% CAGR, Market Trends – The Need for Secure Transportation of Goods.
The Global Intermodal freight transport 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 cargo handling, and this has grown significantly in recent years due to increased demand from end users to transport their products safely. . The increase in imports and exports of products has also influenced the significant growth of regional, national and international logistics. Booming industrial sectors and expanding supply chains are driving the growth of the.
In addition to the determining factors, the brakes to growth include the lack of knowledge of the general population regarding safe transport mechanisms. This is further hampered by the underdeveloped infrastructure to support the growth of the.
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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 world leaders in cargo handling. These countries account for more than 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 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 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 transport.
- 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 in intermodal freight transport.
- 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 Global Freight Intermodal 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
- Chemical products
Outlook Solution Type (Revenue, USD Billion; 2016-2026)
- Fleet management
- Intermodal shipping
- Cargo security
- Intermodal terminals
- Trucking software
End User Outlook (Revenue, USD Billion; 2016-2026)
- Oil and gas
- Aeronautics and Defense
- Industrial and manufacturing
- Food and drinks
- Health care
Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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