Market Overview:
Multimodal Transportation Market Size Was Valued at USD 41.42 Billion in 2022 and is Projected to Reach USD 77.24 Billion by 2030, Growing at a CAGR of 8.1% From 2023-2030.
Multimodal transportation, variously known as intermodal transportation, is the movement of goods through numerous transportation modes such as air, road, air, and water. By strategically combining different transportation modes and leveraging their strengths, multimodal transportation offers various advantages like cost-effectiveness, improved supply chain visibility, and enhanced connectivity, among others. A major factor influencing the multimodal transportation market growth includes a surge in international trade. Multimodal transport reduces handling times, uses a simplified transport and single transport operator, and lowers incidences of losses or thefts.
The introduction of favorable government policies aimed at promoting multimodal transportation and reducing reliance on road transportation is one of the crucial multimodal transportation market trends. Governments are also actively investing in developing multimodal logistics parks and infrastructure such as rail and waterways concentrated towards multimodal transportation and attempting to reduce logistics costs.
Top Key Players Covered in The Multimodal Transportation Market:
- Deutsche Bahn AG
- Kuehne + Nagel International AG
- Deutsche Post AG
- C.H. Robinson Worldwide, Inc.
- Geodis SA
- Yusen Logistics Co., Ltd., and Other Major Players
Market Dynamics and Factors:
The demand for energy and chemical products has been steadily rising in recent years, driven by a growing population and increasing industrial and commercial activity. This has led to the need for efficient, reliable, and cost-effective transportation of these goods, which is why the global multimodal transportation for the chemical and petroleum market is experiencing growth. For instance, the transportation of hazardous and non-hazardous chemicals requires special equipment and careful handling, as well as efficient and timely transportation of these goods, which is why multimodal transportation has become increasingly popular.
The global multimodal transportation market for chemicals and petroleum is set to experience significant growth over the coming years. This is because it offers a cost-effective and efficient solution to the transportation needs of the chemical and petroleum industry. Multimodal transportation is a type of transport that involves the use of multiple modes of transportation, such as rail, road, air, and sea. It enables companies to transport chemicals and petroleum over long distances with greater speed, efficiency, and cost savings. The increased emphasis on safety, environmental protection, and cost control has created a demand for reliable and cost-effective solutions. Multimodal transportation can provide the safest, most efficient, and cost-effective way of transporting chemicals and petroleum products. It also offers the greatest potential for reducing environmental impacts associated with transportation.
The Multimodal Transportation Market Report Highlight:
- By Solutions, the cargo segment within the Multimodal Transportation market is poised for significant growth. This expansion is driven by increasing demand for efficient and integrated transportation solutions that can seamlessly move goods across various modes of transportation, such as road, rail, sea, and air. As businesses prioritize cost-effective and reliable cargo transport, the Multimodal Transportation sector is expected to see substantial expansion in response to these market dynamics.
- By Transportation Mode, the Road-Water segment within the Multimodal Transportation market is projected to witness substantial growth, During the forecast period. This growth can be attributed to the rising preference for combined road and water transportation solutions, which offer cost-efficiency and environmental benefits. As companies seek more sustainable and versatile cargo transport options, the Road-Water segment is anticipated to flourish, meeting the evolving demands of the Multimodal Transportation industry.
- By Region, North America represents a significant portion of the multimodal transportation market share. The rise in cross-border e-commerce and increasing trade activities are aiding the market growth in the region. Moreover, the rising demand for reliable and fast transport of goods, coupled with the growing complexity of supply chains, is propelling the regional market demand.
Key Industry Development:
In July 2023, Yusen Logistics proudly announced its innovative cross-border multimodal transportation service, leveraging the high-speed rail network between China and Laos. This groundbreaking initiative offers a faster, more efficient, and environmentally friendly logistics solution, enhancing connectivity and economic cooperation in the region. This service symbolizes Yusen Logistics' commitment to advancing global trade through cutting-edge transportation solutions.
The Multimodal Transportation Market Segmentation:
By Solutions
- Cargo
- Supply Chain
- Truck Load
- Carriage
- Shipping
- Courier Service
By Transportation Mode
- Rail-Road
- Road-Air
- Road-Water
By End-Users
- Retail
- Chemical
- Aerospace and Defence
- Food and Beverages
- Pharmaceutical and Healthcare
- Manufacturing
- Oil and Gas
For this report, Introspective Market Research has segmented the Multimodal Transportation Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
