The increasing demand of Intermodal Freight transportation is recognized as one of the key trend in the multi-purpose freight transportation industry. Multimodal transportation has a few points of interest as it is connected with single contract unlike to multi-purpose transportation having various contracts with various bearers. Moreover, it diminishes the likelihood of hazard, misfortune or harm amid transportation. Likewise, merchandise can be followed at a solitary point utilizing the multimodal transportation, which will support industry development.
Global Intermodal Freight transportation Industry was valued at USD 43.70 Billion in the year 2018. Global Intermodal Freight transportation Industry is further estimated to grow at a CAGR of 7.5% from 2018 to 2025 to reach USD 72.51 Billion. Intermodal Freight transportation consist two modes of freight including rail and truck which is used in applications such as containerization of freight and passenger transportation. The intermodal process usually begins with a container moved by a truck to a rail, then back to a truck to complete the process. There are about more than 50 million containers moved in United States, 213 million in China, more than 30 million containers moved in Singapore and others via intermodal shipping in 2018 through respective countries ports. The Intermodal Association of North America (IANA) is North America's leading industry trade association representing the combined interests of the intermodal freight industry. According to IANA and IRA Truck moved and rail moved 66.5 billion and 16.1 dollar of freight respectively.
Global Intermodal Freight transportation Industry Share and Size by 2025 (USD Billion)
By solution, the industry is further bifurcated into freight security, fleet management, intermodal terminals, intermodal dispatch, warehousing and others .On the basis of service, the industry is segmented into customization, managed and consulting services.
End user segment is further segregated into oil and gas, aerospace and defense, industrial and manufacturing, construction, chemical, food and beverages, healthcare and others. Need of more safe, reliable and efficient transportation system is boosting the demand of global Intermodal Freight Transportation industry. Efficient transportation system aims at decreasing the time spent on freight management which in turn can be invested in carrying out the warehouse duties more efficiently. Rising trend of containerization is another factor driving the global Intermodal Freight Transportation industry as containerization facilitates easy handling of goods. However, growth in domestic intermodal transportation industry followed by free trade agreements is other factors driving the global Intermodal Freight Transportation industry. Lack of intermodal transportation training and knowledge followed by reluctance in adopting new ways of transportation are acting as restraining factors in the growth of global Intermodal Freight Transportation industry. Shippers now days are focusing on developing Geospatial Intermodal Freight Transportation (GIFT) which serves as opportunity for the global Intermodal Freight Transportation industry. In addition, evolution of multimodal transportation is also acting as an opportunity factor in the growth of global Intermodal Freight Transportation industry.
Geographically, global Intermodal Freight Transportation industry has been segmented into North America, Europe, Asia Pacific, Middle- East and Africa (MEA) and Latin America. In 2018, North America held the largest share of the Intermodal Freight Transportation industry owing to increase in transportation by railroad which is the most convenient mode of intermodal transport for freight .The U.S is the largest contributor in this regional industry. Europe is expected to be the fastest growing industry for global Intermodal Freight Transportation owing to the rapid adoption of intermodal freight transportation in this region. All these factors are expected to increase the demand of Intermodal Freight Transportation industry during the forecast period from 2019- 2025.
Key players working in the global Intermodal Freight transportation industry Incorporate A.P. Moller – Maersk, C.H. ROBINSON, Aljex Software, Inc., GE Transportation, Cognizant, Deutsche Bahn, Deutsche Post DHL Group, Kuehne + Nagel, UPS, Trinium Trucking Systems (IAS), Motorola Solutions Inc., Wisetech Global, Maersk Line(Denmark), DHL(Germany), TMW Systems Inc., and JB Hunt Transport.
Intermodal Freight transportation Industry Segmentation:
Intermodal Freight transportation Industry Overview, by Service:
Intermodal Freight transportation Industry Overview, by End-Use:
Intermodal Freight transportation Industry Overview, by Solution:
Intermodal Freight transportation Industry Overview, by products:
Intermodal Freight transportation Industry Overview, by Region