Freight Transport Market Size & Share, by Offering (Solution, Services); Mode of Transport (Railways, Roadways, Seaways, Airways); Industry Vertical (Retail & E-commerce, Automotive, Aerospace & Defense, Pharmaceuticals, Energy); Logistics Function (Courier, Express and Parcel, Freight Forwarding, Freight Transport, Warehousing and Storage) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6060
  • Published Date: May 23, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Freight Transport Market size was over USD 35 Billion in 2023 and is poised to cross USD 98 Billion by the end of 2036, witnessing more than 12% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of freight transport is estimated at USD 40.45 Billion.

The increasing international trade is likely to boost the freight transport market demand for freight transport which is essential to moving commodities from ports to their actual destinations. According to the World Trade Organization (WTO), following a 1.2% decline in 2023, the volume of global merchandise trade is projected to rise by 2.6% in 2024 and 3.3% in 2025.

Freight Transport Market
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Freight Transport Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing adoption of artificial intelligence (AI) - The freight industry's supply chain management has been completely transformed by AI-powered predictive analytics, which can mine massive databases for insightful information that can be used to help freight forwarders spot patterns, streamline operations, promote sustainability and increasing the efficiency and competitiveness of logistics.

    For instance, professionals in the transportation and logistics industries have responded, and they indicate that more than 45% of businesses employ basic data analytics and around 24% use artificial intelligence.
  • Rising spending on efficient logistics solutions - Successful supply chain management greatly depends on effective logistics management; therefore both large and small shops are spending on having effective logistics systems in today's fiercely competitive industry to stay in business. This may augment the need for freight transport to ensure the smooth operation of every stage in the supply chain.

    The logistics operations account for around 10% of the expenditures incurred by the average online merchant.
  • Growing shipment of goods via air - When it comes to shipping express shipments around the world, air transport services are the most in demand due to the speed, which is comparable to same-day delivery.
    As per IATA, over USD 6 trillion worth of goods are transported by air each year, making up about 35% of all trade in terms of value.


  • Varying regulations across different regions - Logistics, and transportation are controlled by a set of rules that have a variety of effects on freight shipping costs, which may impede freight transport market demand.
    For instance, to guarantee the protection of all parties concerned, regulations are implemented which have an impact on freight forwarding charges.
    Similarly, another area where laws may affect freight forwarding rates is fuel efficiency standards, which may raise the cost of transportation.
    Besides this, freight shipping rates can be affected by trade restrictions, which may raise the cost of shipping those items.
  • Environmental concerns - One of the main industries contributing to greenhouse gas emissions is freight transport, which also includes particulate matter (PM), nitrogen oxides (NOx), sulfur oxides (SOx), and volatile organic compounds (VOCs), in addition to CO2 emissions due to excessive energy usage. However, regulations have been put in place as a result to lessen its environmental impact, and complying with these regulations can be expensive, leading to higher freight charges.
    For instance, more than 45% of freight in the EU is transported by road, which significantly increases greenhouse gas emissions.

Freight Transport Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

USD 35 Billion

Forecast Year Market Size (2036)

USD 98 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Freight Transport Segmentation

 Industry Vertical (Retail & E-commerce, Automotive, Aerospace & Defense, Pharmaceuticals, Energy)

Retail & e-commerce segment is poised to dominate over 35% freight transport market share by 2036. The segment growth can be ascribed to the expansion of e-commerce. The worldwide freight transport industry has been affected by e-commerce in recent years as more and more individuals purchase goods and services online, which has substantially increased the volume of items being sent across the nation.

In addition, the requirement for quicker delivery times is one way that online retail has affected freight transport activities, as a result, many freight transport businesses have had to make investments in new procedures and technology to keep up with demand. For instance, global retail e-commerce revenues reached over USD 5 trillion in 2023.

Mode of Transport (Railways, Roadways, Seaways, Airways)

The roadways segment is set to garner robust market revenue shortly. The volume of freight carried by roads is anticipated to rise between 2020 and 2050, presenting potential as a result of expanding e-commerce deliveries, a greater emphasis on multi-modal connectivity, and increased volume from the fast-moving consumer goods (FMCG) industry.

As per recent data, from around 6 trillion ton-kilometers in 2010 to over 25 trillion ton-kilometers in 2050, there will likely be an even greater growth in road freight transit worldwide.

Our in-depth analysis of the freight transport market includes the following segments: 


  • Solution
  • Services

            Mode of Transport

  • Railways
  • Roadways
  • Seaways
  • Airways

            Industry Vertical

  • Retail & E-commerce
  • Automotive
  • Aerospace & Defense
  • Pharmaceuticals
  • Energy

            Logistics Function

  • Courier
  • Express and Parcel
  • Freight Forwarding
  • Freight Transport
  • Warehousing and Storage

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Freight Transport Industry - Regional Synopsis

North American Market Statistics

North America in freight transport market is poised to account for around 60% revenue share by 2036. The market growth in the region is also expected on account of the rising shipment of goods. An incredible number of commodities are moved annually by the freight transportation network in the region either locally, within a specified area, or even throughout the entire nation.

By weight, trucks move about 72% of American freight. Moreover, the world's largest and most coveted freight rail network is found in the United States, which is an integral part of the extensive, multimodal freight transportation network in the region. As per the Association of American Railroads, U.S. freight railroads move around 1.6 billion tons across 140,000 miles of track in a typical year.

Besides this, in Canada, the majority of commodities are moved by road, since there is a vast rail network spanning more than 35,000 kilometers.

APAC Market Analysis

The Asia Pacific region will also encounter tremendous revenue for the freight transport landscape in the coming years and will hold the second position owing to the presence of eco-friendly freight transportation systems. The freight transport ecosystem in the region plays a pivotal role in mitigating the nation's greenhouse gas emissions through the launch of numerous initiatives to foster intermodal transport solutions.

For instance, the IKI project Green Freight strives to aid partners at the federal and state levels in transforming the Indian freight and logistics industry into a climate-friendly industry by improving productivity and lessening the automotive logistics industry's carbon footprint.

Additionally, trains are a popular means of passenger transportation in Japan because they are easy to use and very efficient. As a result, the nation's freight transport market is growing and is predicted to experience profitable expansion shortly. Japan's railway freight was around 38 million metric tons in 2022.

Furthermore, one of the main drivers of the rise in global oil consumption has been China's quickly increasing need for freight transportation, and this trend is predicted to continue to drive up world oil demand for transportation in the decades to come.

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Freight Transport Market Size
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Companies Dominating the Freight Transport Landscape


    There are several freight transport service providers operating in the market, resulting in a highly fragmented industry. Prominent companies engage in mergers and acquisitions to enhance their market position, diversify their range of products, extend their reach geographically, and use cutting-edge technologies to lower freight expenses. The main goal of the players is to provide secure, quick, and affordable freight transport services. These businesses are working together with local and regional businesses as well as e-commerce enterprises to obtain a competitive advantage over their rivals and a sizeable market share.

    • CEVA Logistics
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • CJ Logistics Corporation
    • 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

In the News

  • CEVA Logistics acquired Stellar Value Chain to increase its current footprint in India and enable the company to provide comprehensive supply chain services to clients throughout the Asia Pacific area and beyond.
  • Schneider National Inc. declared that it has acquired M&M Transport Services to provide more value to its stakeholders and clients to foster ongoing expansion and dependable, continuous service by capitalizing on Schneider's extensive talents and resources while using the strengths of M&M Transport Services.

Author Credits:  Saima Khursheed

  • Report ID: 6060
  • Published Date: May 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of freight transport was over USD 35 billion.

The market size for freight transport is projected to cross USD 98 billion by the end of 2036 expanding at a CAGR of 12% during the forecast period i.e., between 2024-2036.

The major players in the market are CJ Logistics Corporation, United Parcel Service of America Inc., Kuehne + Nagel International AG, Schneider National Inc., Oracle Inc., SAP SE, and others.

In terms of industry vertical, the Retail & e-commerce segment is anticipated to account for the largest market share of 35% during 2024-2036.

The North America freight transport sector is poised to hold the highest share of 40% by 2036.
Freight Transport Market Report Scope

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