Intermodal Transport Market to Expand Threefold by 2030; Trade Restrictions amidst COVID-19 Outbreak Impeding Market Growth
Published On : Sep 14, 2020
Over the past few years, regional governments have been investing heavily in infrastructure developments. Countries such as India, China, Indonesia, and many others are investing large sums to strengthen their intermodal capacity. Such investments are aimed to improve and strengthen transport and infrastructure capacity, which will indirectly facilitate trade improvement. These investments are targeted toward network expansion, and will positively impact the growth of intermodal transportation.
As such, the intermodal transport market is set to expand 3X over the next ten years, as an impressive CAGR of over 11% through 2030.
Key Takeaways from Global Intermodal Transport Market Study
- Among the regions, North America and East Asia together accounted for over 23.2% of the global intermodal transport market in 2019. Among these two regions, North America represented a higher share, owing to significant penetration of international trade activities and growing domestic intermodal transportation.
- Many small-scale players in the intermodal transport market are providing personalized services to large volume shippers in terms of transportation. Transport companies are also highly engaged in providing consultation services in terms of fleet management and transport in order to ensure the efficient transportation of goods.
- The consumer and retail category is increasingly preferring the adoption of intermodal transport due to factors such as cost efficiency and sustainable transport. Besides, this sector ships products to a larger consumer base located across different parts of the world, which is encouraging players to adopt this mode of shipment that is suitable for large volumes and long distances.
“The COVID-19 outbreak has resulted in market disruptions. The transportation industry has been one of the hardest-hit industries. Amid the outbreak, international transportation was completely suspended, which restricted the movement of commercial cargo from one region to another, thereby impeding market growth,” says a PMR analyst.
Governments Proactively Encouraging Intermodal Transport
Different regional governments are actively involved in encouraging the adoption of intermodal transport services. Regional governments have undertaken projects to promote the safe and secure movement of intermodal cargo, encourage the adoption of intermodal transport modes as the mode of transport is more sustainable, and reduce fuel consumption. Such government encouragement will open up new opportunities for the players in the intermodal transport market. For instance, the Chinese government has initiated a plan in order to develop intermodal infrastructure facilities. Reducing the impact of transportation on the environment is one of the major factors that is encouraging governments to promote intermodal transportation.
Intermodal Transport Market Landscape
PMR’s report underlines groundbreaking insights into the competitive scenario of the intermodal transport market, along with highlights of differential strategies used by manufacturers. Some prominent players in the global intermodal transport market include Deutsche Post DHL Group, DB Schenker, FedEx Corporation, DSV Panalpina, Yusen Logistics Co, Ltd., Kuehne + Nagel, XPO Logistics, Inc., Evans Delivery Company, Inc., Hub Group, Swift Transportation Company, GE Transportation, HighJump Software, TMW Systems, Trinium Trucking Systems, and others.
More Valuable Insights on Intermodal Transport Market
Persistence Market Research released a new market research on the intermodal transport market, covering global industry analysis of 2015-2019 and forecasts for 2020–2030. The intermodal transport market study reveals compelling insights on the basis of solution (fleet management, intermodal dispatch, freight security, terminals, warehousing, and trucking software), vertical (consumer & retail, oil & gas, manufacturing industry, energy & utility, mining, aviation, construction, pharmaceuticals & healthcare, food & beverages, and others), service (managed services, consulting services, and customization services), type of mode (rail-road, road-water, road-air, and others), and mode of ownership (asset owned, manufacturers, and trade integrators), across all seven regions.
For additional information on how the intermodal transport market will shape up in the near future, write to the team of expert research analysts at firstname.lastname@example.org
About Consumer Goods Division at Persistence Market Research
The Consumer Goods team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs by offering expert analysis, actionable insights, and strategic recommendations. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the consumer goods industry lucidly in 50+ countries for over a decade. We provide end-to-end research and consulting services; reach out to explore how we can help.
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