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Freight and Logistics Market Size

The Freight and Logistics Market is projected to experience significant growth over the forecast period, with its market size expanding substantially. The Asia-Pacific region, particularly China and India, plays a crucial role in this expansion, driven by government initiatives and infrastructure investments. North America and Europe also contribute significantly to the market's growth, with advancements in logistics and transportation technologies. The increasing demand from e-commerce and manufacturing sectors is expected to further boost the market, leading to a substantial increase in warehousing and logistics capacity.

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Market Size of freight and logistics Industry

Freight and Logistics Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 5.96 Trillion
svg icon Market Size (2030) USD 8.04 Trillion
svg icon Largest Share by Logistics Function Freight Transport
svg icon CAGR (2024 - 2030) 5.11 %
svg icon Largest Share by Region Asia Pacific
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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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

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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

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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

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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

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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

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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.
Global Freight and Logistics Market

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
Logistics Function
Courier, Express, and Parcel (CEP)
By Destination Type
Domestic
International
Freight Forwarding
By Mode Of Transport
Air
Sea and Inland Waterways
Others
Freight Transport
By Mode Of Transport
Air
Pipelines
Rail
Road
Sea and Inland Waterways
Warehousing and Storage
By Temperature Control
Non-Temperature Controlled
Temperature Controlled
Other Services
Region
Africa
By Country
Egypt
Nigeria
South Africa
Rest of Africa
Asia Pacific
By Country
Australia
China
India
Indonesia
Japan
Malaysia
Thailand
Vietnam
Rest of Asia Pacific
Europe
By Country
Denmark
Finland
France
Germany
Iceland
Italy
Netherlands
Norway
Russia
Spain
Sweden
United Kingdom
Rest of Europe
GCC
By Country
Qatar
Saudi Arabia
UAE
Rest of GCC
North America
By Country
Canada
Mexico
United States
Rest of North America
South America
By Country
Argentina
Brazil
Chile
Rest of South America
Rest of the World
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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.

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Freight and Logistics Market Size - Table of Contents

  1. 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)

    1. 1.1 End User Industry

      1. 1.1.1 Agriculture, Fishing, and Forestry

      2. 1.1.2 Construction

      3. 1.1.3 Manufacturing

      4. 1.1.4 Oil and Gas, Mining and Quarrying

      5. 1.1.5 Wholesale and Retail Trade

      6. 1.1.6 Others

    2. 1.2 Logistics Function

      1. 1.2.1 Courier, Express, and Parcel (CEP)

        1. 1.2.1.1 By Destination Type

          1. 1.2.1.1.1 Domestic

          2. 1.2.1.1.2 International

      2. 1.2.2 Freight Forwarding

        1. 1.2.2.1 By Mode Of Transport

          1. 1.2.2.1.1 Air

          2. 1.2.2.1.2 Sea and Inland Waterways

          3. 1.2.2.1.3 Others

      3. 1.2.3 Freight Transport

        1. 1.2.3.1 By Mode Of Transport

          1. 1.2.3.1.1 Air

          2. 1.2.3.1.2 Pipelines

          3. 1.2.3.1.3 Rail

          4. 1.2.3.1.4 Road

          5. 1.2.3.1.5 Sea and Inland Waterways

      4. 1.2.4 Warehousing and Storage

        1. 1.2.4.1 By Temperature Control

          1. 1.2.4.1.1 Non-Temperature Controlled

          2. 1.2.4.1.2 Temperature Controlled

      5. 1.2.5 Other Services

    3. 1.3 Region

      1. 1.3.1 Africa

        1. 1.3.1.1 By Country

          1. 1.3.1.1.1 Egypt

          2. 1.3.1.1.2 Nigeria

          3. 1.3.1.1.3 South Africa

          4. 1.3.1.1.4 Rest of Africa

      2. 1.3.2 Asia Pacific

        1. 1.3.2.1 By Country

          1. 1.3.2.1.1 Australia

          2. 1.3.2.1.2 China

          3. 1.3.2.1.3 India

          4. 1.3.2.1.4 Indonesia

          5. 1.3.2.1.5 Japan

          6. 1.3.2.1.6 Malaysia

          7. 1.3.2.1.7 Thailand

          8. 1.3.2.1.8 Vietnam

          9. 1.3.2.1.9 Rest of Asia Pacific

      3. 1.3.3 Europe

        1. 1.3.3.1 By Country

          1. 1.3.3.1.1 Denmark

          2. 1.3.3.1.2 Finland

          3. 1.3.3.1.3 France

          4. 1.3.3.1.4 Germany

          5. 1.3.3.1.5 Iceland

          6. 1.3.3.1.6 Italy

          7. 1.3.3.1.7 Netherlands

          8. 1.3.3.1.8 Norway

          9. 1.3.3.1.9 Russia

          10. 1.3.3.1.10 Spain

          11. 1.3.3.1.11 Sweden

          12. 1.3.3.1.12 United Kingdom

          13. 1.3.3.1.13 Rest of Europe

      4. 1.3.4 GCC

        1. 1.3.4.1 By Country

          1. 1.3.4.1.1 Qatar

          2. 1.3.4.1.2 Saudi Arabia

          3. 1.3.4.1.3 UAE

          4. 1.3.4.1.4 Rest of GCC

      5. 1.3.5 North America

        1. 1.3.5.1 By Country

          1. 1.3.5.1.1 Canada

          2. 1.3.5.1.2 Mexico

          3. 1.3.5.1.3 United States

          4. 1.3.5.1.4 Rest of North America

      6. 1.3.6 South America

        1. 1.3.6.1 By Country

          1. 1.3.6.1.1 Argentina

          2. 1.3.6.1.2 Brazil

          3. 1.3.6.1.3 Chile

          4. 1.3.6.1.4 Rest of South America

      7. 1.3.7 Rest of the World

Freight and Logistics Market Size FAQs

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.

In 2024, the Global Freight and Logistics Market size is expected to reach USD 5963.09 billion.

Freight & Logistics Market Report Snapshots

Freight and Logistics Industry Analysis - Market Growth, Size & Forecast Report up to 2030