Freight And Logistics Market Size to grow by USD 11857.1 million between 2024-2028
According to a research report “ Freight And Logistics Market” by Delivery Mode (Road, Rail, Maritime, Air) Service (Transportation, Warehousing and distribution, Value-added services) End-user (Manufacturing, Automotive, Consumer goods, Food and beverage, Others) Geography (Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 11857.1 million, at a CAGR of 7.69% during the forecast period. The e-commerce sector in Turkey has experienced substantial growth and is projected to persist in its expansion throughout the forecast period. Notable e-commerce players in the country include Trendyol, generating a revenue of USD3.2 billion in 2021, followed by hepsiburada.com and lcwaikiki.com with revenues of USD1.3 billion and USD514 million, respectively. Collectively, these top three entities accounted for approximately 30% of Turkey's online revenue. Furthermore, nearly 40% of Turkey's population made at least one online purchase in 2021. Fashion represents the leading e-commerce segment in Turkey, contributing to 42% of the industry's revenue.
Browse market data tables, figures, and in-depth TOC on “Freight And Logistics Market” by Delivery Mode (Road, Rail, Maritime, Air) Service (Transportation, Warehousing and distribution, Value-added services) End-user (Manufacturing, Automotive, Consumer goods, Food and beverage, Others) Geography (Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Delivery Mode, the Road segment is projected to dominate the market size in 2024
The freight and logistics market encompasses the transportation and management of goods from origin to destination. This essential business sector facilitates global trade by ensuring the efficient movement of commodities through various modes of transportation, including air, sea, rail, and road. Market growth is driven by increasing international trade, e-commerce expansion, and the need for faster delivery times. Companies in this industry focus on optimizing supply chain operations, implementing advanced technologies, and providing customized solutions to meet evolving customer demands.
By Service, Transportation segment is expected to hold the largest market size for the year 2024
The freight and logistics market encompasses the transportation and management of goods from one location to another. This essential business sector facilitates global trade by ensuring the efficient and timely movement of commodities. Key components include freight forwarding, warehousing, and transportation services. Market growth is driven by increasing international trade, e-commerce expansion, and the need for supply chain optimization. Companies focus on innovation, technology integration, and cost reduction to maintain competitiveness.
Middle East and Africa is forecasted to hold the largest market size by region in 2024
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The Freight And Logistics Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Freight and Logistics Market encompasses various modes of transport, including airplanes, large boats, road cars, trucks, and rail, used for Freight Shipping in Global Supply Chains. Trade-related agreements significantly impact this market, shaping international trade flows and logistics networks. Value-added services, such as Contract Logistics, are increasingly in demand, providing manufacturing sectors with efficient Warehousing and Storage solutions. Leasing activity in the Freight Transport sector continues to grow, driven by the e-commerce boom and increasing demand for faster delivery times. The Logistics Function plays a crucial role in sectors like Mining and Quarrying, Oil and Gas, Manufacturing, Construction, Forestry, Fishing, and Agriculture, ensuring the smooth flow of goods and raw materials. Freight Forwarding and Courier and Parcel services are essential components of this market, facilitating the movement of goods domestically and internationally. The Freight Transport Volume is expected to increase significantly in the coming years, driven by the growing demand for efficient and reliable logistics solutions.
Market Research Overview
The Freight and Logistics market encompasses various industries, including Telecommunications, Chemicals, Pharmaceutical, Health care, Distributive trade, Quarrying, Mining, Manufacturing and Automotive, Customs Clearance, Distribution, Transportation, Inventory Management, Waterways, Roadways, Railways, Airways, and Shipping. The market is driven by the need for efficient and timely movement of goods and materials in these sectors. Key shipping types include Airplanes for quick delivery and Large Boats for bulk cargo. Technological improvements, such as Digital marketing and Global trade facilitation, have revolutionized the industry. Global logistics infrastructure, Trade related agreements, and Global supply chains have also played a significant role in the market's growth. Value-added services like Contract logistics, Freight Forwarding, and Courier and Parcel services have become essential for businesses in sectors like Manufacturing, Oil and Gas, Construction, Forestry, Fishing, and Agriculture. The rise of e-commerce has led to increased parcel volumes and leasing activity. Freight Transport Volume is a critical metric, with modes like Road cars, Trucks, Rail, and Freight shipping seeing significant growth. Electric Vehicles (EVs) and Gasoline prices impact the market, with the former gaining popularity for their environmental benefits. Inventory Management, Warehousing, and Warehousing and Storage are crucial components of the logistics function. The Mining and Quarrying sector relies heavily on Rail and Road transport for the movement of raw materials. Overall, the Freight and Logistics market is a dynamic and complex ecosystem that continues to evolve with the needs of various industries.
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