Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Intermodal Freight Transportation Market Report by Component, Transportation Mode, End User, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global intermodal freight transportation market size reached US$ 46.2 Billion in 2022. Looking forward, the market is set to reach US$ 116.72 Billion by 2028, exhibiting a growth rate (CAGR) of 16.30% during 2023-2028.
The escalating demand for intermodal freight transportation across the industrial sector, continual advancements in transport infrastructure and the advent of digital freight brokerage services and autonomous trucks represent some of the key factors driving the market.
Intermodal freight transportation is a logistical strategy that involves moving cargo using multiple modes of transportation, such as rail, ship, and truck, without handling the freight itself when changing modes. The primary goal of this system is to combine the strengths and capitalize on the efficiencies of various transportation methods to deliver goods from origin to destination in a cost-effective, efficient, and environmentally friendly manner.
The method allows for a streamlined, consistent transportation process that integrates a flexible distribution chain, thus making it an increasingly preferred method for freight shipment. Additionally, it is often container-based or facilitated by standardized containers, making the switch between sea, rail, and road transport effortless.
It has significant applications in various sectors, including manufacturing, retail, food and beverages, chemical, and others, where large-scale transportation of goods is necessary, and efficiency and time-effectiveness are paramount.
Intermodal Freight Transportation Market Trends:
The escalating demand for intermodal freight transportation across the industrial sector majorly drives the global market. This can be supported by the growing consumer inclination toward intermodal freight transportation over traditional freight transport methods due to its cost-effectiveness and efficiency.
Along with this, continual advancements in transport infrastructure across the globe, rapid globalization and international trade, and the rising need for a reliable, efficient, and sustainable freight transport system are significantly supporting the market. This transport method also reduces cargo handling, thereby improving security and reducing damages and losses, which is creating a positive market outlook.
In addition, the market is witnessing several emerging trends, such as the incorporation of advanced tracking and tracing systems for freight, which aids in improving the visibility and efficiency of freight transportation, thereby influencing demand. In addition to this, the increasing environmental awareness has also led to heightened demand for intermodal freight transportation as it is a much more environmentally friendly method compared to the alternatives, as it effectively reduces the carbon footprint associated with goods transportation.
Also, governments across the globe are investing in transport infrastructure development, including intermodal terminals and efficient road and rail networks, which is augmenting the market growth.
North America was the largest market for intermodal freight transportation. Some of the factors driving the North America intermodal freight transportation market included favorable government regulations, continual technological advancements, rapid urbanization, etc.
Apart from this, the advent of digital freight brokerage services and autonomous trucks, offering new opportunities for companies in the freight transportation market, are also contributing to the market. With these advancements and trends, the global intermodal freight transportation market is creating a positive market outlook.
Key Questions Answered in This Report:
- How has the global intermodal freight transportation market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global intermodal freight transportation market?
- What is the impact of each driver, restraint, and opportunity on the global intermodal freight transportation market?
- What are the key regional markets?
- Which countries represent the most attractive intermodal freight transportation market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the intermodal freight transportation market?
- What is the breakup of the market based on the transportation mode?
- Which is the most attractive transportation mode in the intermodal freight transportation market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the intermodal freight transportation market?
- What is the competitive structure of the global intermodal freight transportation market?
- Who are the key players/companies in the global intermodal freight transportation market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 148 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $46.2 Billion |
| Forecasted Market Value (USD) by 2028 | $116.72 Billion |
| Compound Annual Growth Rate | 16.7% |
| Regions Covered | Global |
Competitive Landscape:
- A J Walter Aviation Limited
- AAR Corp.
- Aventure International Aviation Services LLC
- Bombardier Inc
- General Electric Company
- GKN Aerospace (Melrose Industries)
- Honeywell International Inc.
- Moog Inc.
- Raytheon Technologies Corporation
- The Boeing Company
Key Market Segmentation:
Component Insights:
- Software
- Service
Transportation Mode Insights:
- Rail and Road Transport
- Air and Road Transport
- Maritime and Road Transport
End User Insights:
- Industrial and Manufacturing
- Oil and Gas
- Consumer and Retail
- Food and Beverage
- Construction
- Others
For more information about this report visit https://www.researchandmarkets.com/r/fmzga2
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