Freight Transport Market Projected to Reach USD 95.96 Billion by 2033 | Straits Research

The global freight transport market size was valued at USD 36.32 billion in 2024 and is expected to grow from USD 40.46 billion in 2025 to reach USD 95.96 billion by 2033, growing at a CAGR of 11.4% during the forecast period (2025-2033).

/EIN News/ -- New York, United States, , Jan. 27, 2025 (GLOBE NEWSWIRE) -- Freight transport is a vital component of global trade because it enables the movement of goods and materials across geographies. Growth in this market is supported by a rise in e-commerce, increasing globalization, and ongoing technological advancements in transportation modes. Moreover, companies are focusing on supply chain efficiency, real-time tracking, and sustainability, contributing to significant shifts within the industry. Freight transport is likely to grow further in response to the increasing demand for fast and efficient delivery solutions, especially in retail and e-commerce industries.

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Market Dynamics

The surge in e-commerce and retail sectors drives the global market

The rapid expansion of e-commerce continues to be a major driver of growth in the global freight transport market, as consumers increasingly expect fast and reliable delivery solutions. This trend is particularly evident in urban areas, where the demand for efficient last-mile delivery is soaring due to the growing popularity of online shopping.

To address these needs, freight service providers are making significant investments in cutting-edge logistics solutions. These include automated warehouses, optimized delivery routes, and real-time tracking systems. These advancements not only improve delivery speed and flexibility but also enhance shipment traceability, which is crucial for maintaining high customer satisfaction.

• According to data from the United Nations Conference on Trade and Development (UNCTAD), global e-commerce sales reached USD 26.7 trillion in 2022, highlighting the vast opportunity for the freight transport industry to meet the increasing demands of this sector.

The adoption of blockchain technology in freight management creates tremendous opportunities

The integration of blockchain technology in freight management offers a transformative opportunity for the industry, enhancing transparency, security, and operational efficiency across the supply chain. By utilizing a decentralized ledger, blockchain reduces fraud and errors by providing an immutable record of transactions, ensuring accurate tracking of goods from origin to destination.

Blockchain also promotes seamless data sharing among stakeholders—shippers, carriers, and customs authorities—allowing real-time updates that increase agility and responsiveness in logistics operations. Moreover, it streamlines the management of documents such as contracts and customs declarations, reducing administrative burdens and speeding up cross-border shipments.

• According to IBM, implementing blockchain in logistics can reduce paperwork for cross-border transport by 15-20%, significantly improving both efficiency and security. As the freight transport industry continues to evolve, the adoption of blockchain technology will not only optimize operations but also enhance trust and collaboration among supply chain participants, making it a key driver of future growth.

Regional Analysis

North America leads the global freight transport market, driven by its sophisticated logistics infrastructure, widespread adoption of innovative technologies, and high levels of trade activity.

The United States, in particular, features a vast network of highways, ports, and railways, which form the core of its freight transport system, supporting both domestic and international trade. Moreover, significant investments in digital logistics technologies, such as AI-driven analytics and IoT-based tracking systems, are optimizing operational efficiency and improving supply chain visibility across the region.

North America is also a leader in sustainability efforts, with companies integrating electric and autonomous vehicles into their fleets and exploring green fuel alternatives. These initiatives help reduce emissions and ensure compliance with stringent environmental regulations, positioning the region at the forefront of the industry's shift toward greener practices.

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Key Highlights

• The global freight transport market size was valued at USD 36.32 billion in 2024 and is expected to grow from USD 40.46 billion in 2025 to reach USD 95.96 billion by 2033, growing at a CAGR of 11.4% during the forecast period (2025-2033).
• Based on Offering, the global market is divided into solutions and services. The solution segment dominated the market with the largest market revenue.
• Based on the Mode of Transport, the global market is divided into railways, roadways, seaways, and airways. The roadways segment dominated the market with the largest market revenue.
• Based on Vertical, the global market is divided into retail & e-commerce, automotive, aerospace & defense, pharmaceuticals, energy, and others. The retail and e-commerce segment dominated the market with the largest market revenue.
• North America is the most significant shareholder in the global market.

Competitive Players

1. DHL Group
2. FedEx Corporation
3. United Parcel Service (UPS), Inc.
4. Robinson Worldwide, Inc.
5. XPO Logistics, Inc.
6. Kuehne + Nagel International AG
7. DB Schenker
8. Maersk Line
9. DSV Panalpina
10. Nippon Express Co., Ltd.
11. Hunt Transport Services, Inc.
12. SNCF Logistics
13. Ceva Logistics
14. YRC Worldwide Inc.
15. Agility Logistics

 Recent Developments

• In January 2024, FedEx introduced a cutting-edge AI-driven logistics platform designed to optimize route planning and fuel efficiency for its global fleet. This platform leverages real-time data and predictive analytics to reduce delivery times, cut costs, and improve operational sustainability, underscoring FedEx's dedication to innovation and eco-friendly practices.

Market Segmentation

By Offering

• Solution
• Services

By Mode of Transport

• Railways
• Roadways
• Seaways
• Airways

By Vertical

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

By Region

• North America
• Europe
• Latin America
• APAC
• Middle East and Africa

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