Freight Transport Market Report 2025

The freight transport market size has grown rapidly in recent years. It will grow from $34.82 billion in 2024 to $38.96 billion in 2025 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to globalization and international trade growth, economic growth and industrialization, infrastructure development projects, increased manufacturing activities, environmental regulations.

The freight transport market size is expected to see rapid growth in the next few years. It will grow to $61.62 billion in 2029 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to shift towards sustainable transport, focus on last-mile delivery solutions, regulatory support for sustainable transport, increased investment in transport infrastructure, advancements in autonomous vehicles. Major trends in the forecast period include integration of IoT in logistics, blockchain adoption in supply chains, adoption of digital technologies, data-driven decision-making, real-time tracking and visibility, collaboration and partnerships.

The expanding e-commerce industry is anticipated to enhance the freight transport market in the future. Freight transport refers to the overall movement of goods through inland transportation on a specific network. The growth of e-commerce has led to an increased demand for logistics and freight transport services. For example, in August 2023, reports from the United States Census Bureau, a government agency in the US, indicated that U.S. retail e-commerce sales reached $291.6 billion in the second quarter of 2024, representing a 1.3% increase from the previous quarter and a 6.7% rise compared to the same period in 2023. Total retail sales were estimated at $1.82 trillion, reflecting a 0.5% increase from the first quarter and a 2.1% year-over-year rise, with e-commerce accounting for 16% of total sales. Thus, the growing e-commerce industry is propelling the freight transport market.

The anticipated rise in manufacturing activities is poised to propel the freight transport market's expansion. Manufacturing involves the conversion of raw materials into finished goods, and efficient freight transport is integral to this process. By facilitating the timely movement of raw materials and finished products, freight transport ensures supply chain continuity and supports overall production. In July 2023, Eurostat reported a 0.2% increase in industrial output in the European area, with a 0.1% increase in the European Union between May and April 2023. Consequently, increased manufacturing activities are a driving force behind the growth of the freight transport market.

Technological innovation is emerging as a prominent trend in the freight transport market. Major industry players are actively developing innovative solutions to enhance their market positions. For example, in May 2022, ShipBob Inc., a US-based software company, introduced an end-to-end managed freight transportation solution powered by Flexport. This initiative combines ShipBob's cross-docking, inventory distribution, and fulfillment networks to coordinate freight shipments for e-commerce merchants. The goal is to achieve faster shipping times and lower costs for shipping inventory from China to the US. FreightBob, designed to assist e-commerce businesses in managing their freight efficiently, addresses challenges such as port congestion and supply chain blockages while optimizing inventory distribution.

Leading companies in the freight transport sector are intensifying their focus on the implementation of autonomous transport solutions as a strategic move to enhance their competitiveness. Autonomous transport solutions involve technologies or systems enabling vehicles to operate and navigate without human intervention. An illustrative example is Volvo Autonomous Solutions (VAS), a Sweden-based company, which, in May 2022, unveiled a new hub-to-hub autonomous transport solution targeting key customer segments such as shippers, carriers, logistics service providers, and freight brokers. This innovative solution addresses the rising demand for goods in North America, enhancing overall transportation reliability by leveraging Volvo Trucks' established service network and world-class uptime services. VAS serves as the primary contact for all Autonomous Transport Solution customers, ensuring reliable support for a seamless transition.

In June 2022, Fastfrate, a prominent Canada-based transportation services company, completed the acquisition of Challenger Motor Freight for an undisclosed amount. This strategic move positioned Fastfrate as the largest company of its kind in the country. The amalgamation of their businesses encompasses 1.2 million square feet of premises and over 5,500 pieces of equipment. This acquisition reinforces their ability to provide a comprehensive range of asset-based transportation services. Challenger Motor Freight, a Canada-based entity specializing in transportation, warehousing, and distribution services, extends their reach and offerings across the nation.

Major companies operating in the freight transport market include CEVA Logistics, CJ Logistics Corporation, Nippon Express Holdings, Kerry Logistics Network Limited, Kuehne + Nagel International AG, DSV Panalpina A/S, Deutsche Post DHL, FedEx Corporation., United Parcel Service of America Inc, Schneider National Inc., C.H. Robinson Worldwide Inc, GATI-KWE, DB Schenker Logistics, XPO Logistics, Expeditors International of Washington Inc., Agility Logistics, Geodis, Hellmann Worldwide Logistics, Bolloré Logistics, Yusen Logistics Co. Ltd., Sinotrans Limited, Toll Group, ArcBest Corporation, J.B. Hunt Transport Services Inc., Old Dominion Freight Line Inc., Saia LTL Freight, Werner Enterprises Inc., Knight-Swift Transportation Holdings Inc., Landstar System Inc., Swift Transportation Company.

North America was the largest region in the freight transport market in 2024. Asia-Pacific is expected to be the fastest-growing region in the freight transport market during the forecast period. The regions covered in the freight transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the freight transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Freight transportation involves the transfer of diverse commodities from one point to another using a range of transportation modes. This movement spans various methods from the source to the destination.

The primary offerings in freight transportation encompass both solutions and services. Freight transport solutions facilitate the transfer of merchandise, goods, and freight through land, sea, or air channels. Diverse modes such as railways, road transport, maritime shipping, and air transport are employed across sectors including retail, e-commerce, automotive, aerospace, pharmaceuticals, energy, and other industries.'

The freight transport market research report is one of a series of new reports that provides freight transport market statistics, including freight transport industry global market size, regional shares, competitors with a freight transport market share, detailed freight transport market segments, market trends and opportunities, and any further data you may need to thrive in the freight transport industry. This freight transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The freight transport market includes revenues earned by entities such as expedited freight, and fully truck load freight. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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