Market Size of freight and logistics Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 5.96 Trillion |
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Market Size (2030) | USD 8.04 Trillion |
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Largest Share by Logistics Function | Freight Transport |
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CAGR (2024 - 2030) | 5.11 % |
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Largest Share by Region | Asia Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Freight and Logistics Market Analysis
The Freight and Logistics Market size is estimated at 5.96 trillion USD in 2024, and is expected to reach 8.04 trillion USD by 2030, growing at a CAGR of 5.11% during the forecast period (2024-2030).
5.96 Trillion
Market Size in 2024 (USD)
8.04 Trillion
Market Size in 2030 (USD)
3.95 %
CAGR (2017-2023)
5.11 %
CAGR (2024-2030)
Fastest Growing Market by Mode of Transport
5.97 %
Projected CAGR, Air, 2024-2030
The explosive surge of e-commerce is driving the growth of the air freight market. IATA reports that 80% of international e-commerce relies on air transport, significantly streamlining cross-border shopping.
Largest CEP Market by Destination
68.65 %
value share, Domestic, 2023
The increase in urbanization is boosting the growth of the domestic CEP segment. Currently, more than half of the global population lives in urban areas and projected to increase to around two-thirds in 2050.
Largest Country
23.33 %
value share, United States, 2023
In November 2023, the Port Infrastructure Development Program (PIDP) in the United States allocated over USD 653 million to 41 port improvement projects nationwide.
Largest Market by End User Industry
33.63 %
value share, Wholesale and Retail Trade, 2023
The end-user segment, buoyed by rising retail and e-commerce sales, witnessed growth in 2023. Moreover, the global e-commerce market grew by 9.6% YoY and reached USD 3.29 trillion in 2023.
Fastest Growing Warehousing Market by Temperature Control
5.29 %
Projected CAGR, Temperature Controlled, 2024-2030
Free trade agreements between EU nations boosted trade, leading to increased cold storage throughout Europe. The cold chain market in Europe is predicted to grow to USD 112 billion by 2028.
Asia-Pacific leads the investment in infrastructure development worldwide, followed by Europe and the United States
- China dominates the Asia-Pacific market, buoyed by robust government initiatives. In 2022 alone, the Transport Department of China allocated over USD 3.4 billion to bolster road transport infrastructure. Looking ahead, the National Development and Reform Commission, along with the Ministry of Transport, has set an ambitious goal: expanding the national road network to encompass 299,000 km of highways and 162,000 km of expressways by 2035.
- As of May 2022, India led the global pack with a staggering USD 25 million worth of ongoing or planned infrastructure projects. In comparison, the United States had 1,866 projects, while China had 1,175. The High-Speed Rail Line project in California, USA, stood out as a frontrunner, boasting an estimated value of USD 113 billion as of October 2022. Railway lines took center stage in several major infrastructure undertakings, spanning countries like Norway, Sweden, the United Kingdom, the United States, and various regions in Asia, Southeast Asia, and Japan.
- In February 2024, Germany witnessed a significant development as DHL and Fraport AG, the operator of Frankfurt Airport (FRA), broke ground on a new air freight facility. Spanning 55,000 sq. m, the construction is expected to conclude in approximately twelve months, with DHL slated to inaugurate the air cargo center by mid-2025. Meanwhile, in 2023, France unveiled its commitment to invest over USD 500 million in the coming years, specifically targeting advancements in low-emission aircraft, engines, and sustainable aviation fuels (SAF). These investments underscore France's and Europe's drive toward environmental sustainability in the aviation sector.
Strong potential with market uncertainties like the residual impact of the Russia-Ukraine war
- Asia-Pacific, North America, and Europe dominate the global freight and logistics market. In Asia-Pacific, in India, transportation costs dominate the logistics landscape, accounting for 62% of overall logistics costs and 14% of the country's GDP. Given that diesel fuel costs make up the lion's share of transportation expenses, the adoption of zero-emission trucks (ZETs) can significantly slash fuel costs by up to 46% over the vehicle's lifespan. This has far-reaching implications for India's economy. Notably, road freight, which already accounts for over a quarter of oil import expenses, is projected to surge fourfold by 2050. By embracing ZETs, India could potentially save a staggering 838 billion liters of diesel by 2050, translating to a reduction of USD 140.17 billion in oil expenditures.
- Logistics hubs, like Bahrain's Global Sea-to-Air Logistics Hub, launched in 2021, could provide cost-effective and faster freight transportation. To upgrade and modernize warehousing, 90% of Asia-Pacific warehouse operators are investing in next-gen automation tech, which is anticipated to boost the market globally in the next five years.
- Driven by the e-commerce and manufacturing sectors, warehousing and logistics stock will likely double by 2030 to cross 700 million sq. ft. Leasing activity in the segment grew by 40% QoQ in Q3 2022 to amount to 9.2 million sq. ft. The e-commerce boom also fueled parcel volumes by 21% YoY in 2021 in 13 major economies. It is expected to record a CAGR of 8.5% between 2022 and 2027. The United States generated the highest revenue, while China produced 108 billion parcels in 2021.
Freight and Logistics Industry Segmentation
Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others are covered as segments by End User Industry. Courier, Express, and Parcel (CEP), Freight Forwarding, Freight Transport, Warehousing and Storage are covered as segments by Logistics Function. Africa, Asia Pacific, Europe, GCC, North America, South America are covered as segments by Region.
- China dominates the Asia-Pacific market, buoyed by robust government initiatives. In 2022 alone, the Transport Department of China allocated over USD 3.4 billion to bolster road transport infrastructure. Looking ahead, the National Development and Reform Commission, along with the Ministry of Transport, has set an ambitious goal: expanding the national road network to encompass 299,000 km of highways and 162,000 km of expressways by 2035.
- As of May 2022, India led the global pack with a staggering USD 25 million worth of ongoing or planned infrastructure projects. In comparison, the United States had 1,866 projects, while China had 1,175. The High-Speed Rail Line project in California, USA, stood out as a frontrunner, boasting an estimated value of USD 113 billion as of October 2022. Railway lines took center stage in several major infrastructure undertakings, spanning countries like Norway, Sweden, the United Kingdom, the United States, and various regions in Asia, Southeast Asia, and Japan.
- In February 2024, Germany witnessed a significant development as DHL and Fraport AG, the operator of Frankfurt Airport (FRA), broke ground on a new air freight facility. Spanning 55,000 sq. m, the construction is expected to conclude in approximately twelve months, with DHL slated to inaugurate the air cargo center by mid-2025. Meanwhile, in 2023, France unveiled its commitment to invest over USD 500 million in the coming years, specifically targeting advancements in low-emission aircraft, engines, and sustainable aviation fuels (SAF). These investments underscore France's and Europe's drive toward environmental sustainability in the aviation sector.
| End User Industry | |
| Agriculture, Fishing, and Forestry | |
| Construction | |
| Manufacturing | |
| Oil and Gas, Mining and Quarrying | |
| Wholesale and Retail Trade | |
| Others |
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Freight and Logistics Market Size Summary
The freight and logistics market is poised for significant growth, driven by advancements in infrastructure and technology across various regions. Asia-Pacific, North America, and Europe are the dominant players in this sector, with China leading the charge in the Asia-Pacific market due to substantial government investments in transport infrastructure. The United States and Germany are also making notable strides, with the U.S. focusing on enhancing port capabilities and Germany investing heavily in transportation and warehousing. The market is experiencing a surge in demand, particularly from the e-commerce and manufacturing sectors, which is expected to double warehousing and logistics stock by the end of the decade. Innovations such as zero-emission trucks and next-gen automation technologies are set to revolutionize the industry, offering cost-effective and sustainable solutions.
The market landscape is characterized by a fragmented structure, with major players like A.P. Moller - Maersk, CMA CGM Group, DHL Group, FedEx, and UPS holding a significant but not dominant share. The introduction of electric vehicles and advancements in freight shipping technology, such as those developed by C.H. Robinson, highlight the industry's shift towards sustainability and efficiency. Despite challenges like fluctuating fuel prices and geopolitical tensions affecting oil supply, the market remains resilient, with strategic investments and initiatives aimed at enhancing logistics infrastructure and reducing carbon footprints. The ongoing developments in Asia-Pacific, particularly in India and China, underscore the region's critical role in the global freight and logistics market, with projections indicating a substantial increase in freight transport demand by 2050.
Freight and Logistics Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes 1. Market value in USD for all segments 2. Market volume for select segments viz. freight transport, CEP (courier, express, and parcel) and warehousing & storage 3.Forecasts up to 2029 and analysis of growth prospects)
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1.1 End User Industry
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1.1.1 Agriculture, Fishing, and Forestry
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1.1.2 Construction
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1.1.3 Manufacturing
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1.1.4 Oil and Gas, Mining and Quarrying
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1.1.5 Wholesale and Retail Trade
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1.1.6 Others
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1.2 Logistics Function
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1.2.1 Courier, Express, and Parcel (CEP)
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1.2.1.1 By Destination Type
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1.2.1.1.1 Domestic
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1.2.1.1.2 International
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1.2.2 Freight Forwarding
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1.2.2.1 By Mode Of Transport
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1.2.2.1.1 Air
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1.2.2.1.2 Sea and Inland Waterways
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1.2.2.1.3 Others
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1.2.3 Freight Transport
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1.2.3.1 By Mode Of Transport
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1.2.3.1.1 Air
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1.2.3.1.2 Pipelines
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1.2.3.1.3 Rail
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1.2.3.1.4 Road
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1.2.3.1.5 Sea and Inland Waterways
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1.2.4 Warehousing and Storage
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1.2.4.1 By Temperature Control
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1.2.4.1.1 Non-Temperature Controlled
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1.2.4.1.2 Temperature Controlled
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1.2.5 Other Services
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1.3 Region
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1.3.1 Africa
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1.3.1.1 By Country
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1.3.1.1.1 Egypt
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1.3.1.1.2 Nigeria
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1.3.1.1.3 South Africa
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1.3.1.1.4 Rest of Africa
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1.3.2 Asia Pacific
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1.3.2.1 By Country
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1.3.2.1.1 Australia
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1.3.2.1.2 China
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1.3.2.1.3 India
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1.3.2.1.4 Indonesia
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1.3.2.1.5 Japan
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1.3.2.1.6 Malaysia
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1.3.2.1.7 Thailand
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1.3.2.1.8 Vietnam
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1.3.2.1.9 Rest of Asia Pacific
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1.3.3 Europe
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1.3.3.1 By Country
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1.3.3.1.1 Denmark
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1.3.3.1.2 Finland
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1.3.3.1.3 France
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1.3.3.1.4 Germany
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1.3.3.1.5 Iceland
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1.3.3.1.6 Italy
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1.3.3.1.7 Netherlands
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1.3.3.1.8 Norway
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1.3.3.1.9 Russia
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1.3.3.1.10 Spain
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1.3.3.1.11 Sweden
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1.3.3.1.12 United Kingdom
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1.3.3.1.13 Rest of Europe
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1.3.4 GCC
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1.3.4.1 By Country
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1.3.4.1.1 Qatar
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1.3.4.1.2 Saudi Arabia
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1.3.4.1.3 UAE
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1.3.4.1.4 Rest of GCC
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1.3.5 North America
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1.3.5.1 By Country
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1.3.5.1.1 Canada
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1.3.5.1.2 Mexico
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1.3.5.1.3 United States
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1.3.5.1.4 Rest of North America
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1.3.6 South America
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1.3.6.1 By Country
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1.3.6.1.1 Argentina
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1.3.6.1.2 Brazil
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1.3.6.1.3 Chile
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1.3.6.1.4 Rest of South America
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1.3.7 Rest of the World
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Freight and Logistics Market Size FAQs
How big is the Global Freight and Logistics Market?
The Global Freight and Logistics Market size is expected to reach USD 5963.09 billion in 2024 and grow at a CAGR of 5.11% to reach USD 8040.55 billion by 2030.
What is the current Global Freight and Logistics Market size?
In 2024, the Global Freight and Logistics Market size is expected to reach USD 5963.09 billion.
