Stable Global Economic Growth: A Key Driver Transforming the Transport Services Market 2024

The Business Research Company's Transforming the Transport Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

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The transport services market is projected to grow from $8164.3 billion in 2023 to $8839.85 billion in 2024, with a CAGR of 8.3%. This growth is fueled by population expansion, urbanization trends, demographic shifts, and new government transportation policies focused on health and safety.

Global Transport Services Market Size Forecast and Annual Growth Rate Predictions

The transport services market is expected to see strong growth, forecasted to reach $11,980.66 billion by 2028 at a CAGR of 7.9%. This growth is driven by sustainability initiatives, the integration of smart cities, shared mobility services, and the development of high-speed rail. Key trends include mobility as a service, the introduction of autonomous vehicles for cargo transport, and the enhancement of digital platforms for freight matching.

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What Are The Major Factors Driving The Growth Of The Transport Services Market?

The transportation services market is set to benefit from stable economic growth anticipated in both developed and developing nations. The International Monetary Fund (IMF) has forecasted a global GDP growth rate of 3.3% for 2020 and 3.4% for 2021. With recovering commodity prices expected to bolster this growth, both developed and emerging markets are likely to see increased investments in end-user markets, driving the transportation services market during the forecast period.

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Which Major Market Players Are Propelling the Transport Services Market?

Major companies operating in the market report are Amazon.com Inc., China Railway Corporation, Cargill Incorporated, United Parcel Service Inc., DHL Group, Deutsche Post AG, FedEx Corporation, A.P. Moller-Maersk A/S, Maersk, United States Postal Service, CMA CGM Group, COSCO Shipping Group, Kuehne + Nagel International, SF Express Co. Ltd., Hapag-Lloyd AG, DSV A/S, Indian Railways, JSC Russian Railways, Nippon Express Co. Ltd., Expeditors International, Kerry Logistics, DB Schenker, Bollore Logistics, XPO Inc., Hellmann Worldwide Logistics, Kintetsu World Express, NFI Industries Inc., Agility, HNA Technology Co. Ltd.

What Is the Segmentation of the Global Transport Services Market?

The transport services market covered in this report is segmented –
1) By Type: Air Transport, General Transport, Pipeline Transport, Rail Transport, Transit And Ground Passenger Transport, Truck Transport, Warehousing And Storage, Water Transport
2) By Purpose: Commuter Travel, Tourism And Leisure Travel, Business Travel, Cargo And Freight Travel, Shipping And Delivery Travel
3) By Destination: Domestic, International
4) By End-Use Industry: Mining, Construction, Agriculture, Other End Use Industries

Regional Insights: Asia-Pacific's Dominance in the Transport Services Market

Asia-Pacific was the largest region in the market in 2023. Western Europe was the second largest region in the market. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Defining the Transport Services Market

Transport services encompass a range of activities aimed at facilitating movement from one location to another. This includes warehousing and storage operations tailored to support individuals and businesses in managing logistics, whether for goods, refrigerated items, or other materials essential for daily operations.

The Transport Services Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Transport Services Market Report: Trends, Opportunities, Strategies, and More
The Transport Services Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into transport services market size, transport services market drivers and trends, transport services market major players, transport services competitors' revenues, market positioning, and growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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