Market Size of north america freight and logistics Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 1.57 Trillion |
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Market Size (2030) | USD 2 Trillion |
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Largest Share by Logistics Function | Freight Transport |
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CAGR (2024 - 2030) | 4.08 % |
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Largest Share by Country | United States |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Freight And Logistics Market Analysis
The North America Freight And Logistics Market size is estimated at 1.57 trillion USD in 2024, and is expected to reach 2 trillion USD by 2030, growing at a CAGR of 4.08% during the forecast period (2024-2030).
1.57 Trillion
Market Size in 2024 (USD)
2 Trillion
Market Size in 2030 (USD)
3.19 %
CAGR (2017-2023)
4.08 %
CAGR (2024-2030)
Fastest Growing Market by Mode of Transport
4.67 %
Projected CAGR, Air, 2024-2030
In February 2023, the United States government announced an additional USD 1 billion in airport funding, benefiting 99 airports across the nation.
Largest CEP Market by Destination
75.22 %
value share, Domestic, 2023
E-commerce being a major driver for domestic CEP growth, is growing rapidly in North America and has contributed USD 1 trillion worth of e-commerce sales in 2023.
Largest Country
84.50 %
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
30.52 %
value share, Wholesale and Retail Trade, 2023
In 2023, retail sales in the US increased by an estimated 3.2% YoY. In addition, efforts were made to strengthen logistics infrastructure and technology to accommodate the anticipated surge in e-commerce and parcel demand.
Fastest Growing Warehousing Market by Temperature Control
3.98 %
Projected CAGR, Temperature Controlled, 2024-2030
The refrigerated warehousing market witnessed significant growth in 2023. By June 2023, nearly 2 million sq. ft of refrigerated storage and distribution facilities were developed in the US.
Rising demand for foreign goods in Indonesia, Thailand, and India imported from North America is driving the growth of the transport sector
- Major North American ports are witnessing a decline in cargo container volumes, returning to pre-pandemic levels. Following a peak in 2022, volumes dropped by 18.6% YoY in the first half of 2023. Labor issues added to the challenge. While West Coast ports secured a labor agreement in early 2023, port workers in Western Canada went on strike in July. The strike had a significant impact on the Port of Vancouver, which only resolved after 13 days. In contrast, Manzanillo, Mexico, saw a notable YoY growth of 7.2% in container volumes in Q2 2023. Over the past five years, Manzanillo's volume surged by 24%, benefiting from the nearshoring trend adopted by several US firms alongside the port of Lazaro Cardenas.
- The North American logistics market is being fueled by the rising demand for foreign goods, especially in emerging economies like Indonesia, Thailand, and India. This demand, particularly for imports from North America, is a key growth driver. In 2022, the market witnessed an expansion driven by heightened trade volumes. North American exports climbed to USD 3.23 trillion in 2022, up from USD 2.75 trillion in 2021. Simultaneously, imports surged to USD 4.54 trillion in 2022, rising from USD 3.93 trillion in 2021.
- In 2022, the US committed to achieving 30% nationwide sales of zero-emission trucks by 2030, with a further goal of 100% by 2040. In line with this, in 2023, Republic Services, a leading waste disposal and environmental services firm, unveiled its first fully integrated electric recycling and waste collection truck. The company had plans to introduce two more fully integrated electric recycling and garbage truck prototypes in 2023.
Understand The Key Trends Shaping This Market
Enhancing the North American freight & logistics industry through government investments from the United States (USD 31 million), Canada (USD 2.3 billion), and Mexico (USD 44 billion)
- By December 2023, the transborder freight value in North America, across all transportation modes, reached USD 121.6 billion, marking a marginal 0.1% YoY decline. Freight between the US and Canada amounted to USD 61.1 billion, showing a 0.7% YoY increase, while freight between the US and Mexico totaled USD 60.4 billion, experiencing a 0.9% YoY dip. Of the overall freight, trucks accounted for USD 73.2 billion, railways moved USD 16.4 billion, vessels transported USD 11 billion, pipelines carried USD 9.1 billion, and air freight amounted to USD 4.6 billion.
- In Canada's transportation markets in 2022, air transportation comprised 848 businesses, with Ontario hosting 244, British Columbia 192, Quebec 124, and Alberta 94. Rail transportation had 275 businesses, with Ontario leading at 83, followed by Quebec (53), Alberta (36), and Saskatchewan (36). Water transportation had 281 businesses, with British Columbia leading at 124, trailed by Quebec (56) and Ontario (41). Road transportation dominated with 52,140 businesses, with Ontario (25,198), Quebec (9,325), Alberta (6,855), and British Columbia (4,867) taking the lead. Pipeline transportation had the fewest businesses, numbering 123, primarily in Alberta (63) and Ontario (18).
- In October 2022, the US Department of Transportation allocated about USD 31 million to bolster cargo infrastructure and fortify the supply chain. In a bid to modernize rail infrastructure, the US government pledged USD 1.4 billion in 2022. Mexico's government unveiled a USD 44 billion plan for 2020-2024, with a key focus on transportation infrastructure, as part of the National Private Sector Infrastructure Investment Agreement. Canada's government channeled over USD 2.3 billion into the National Trade Corridors Fund to bolster freight transportation.
North America 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. Canada, Mexico, United States are covered as segments by Country.
- Major North American ports are witnessing a decline in cargo container volumes, returning to pre-pandemic levels. Following a peak in 2022, volumes dropped by 18.6% YoY in the first half of 2023. Labor issues added to the challenge. While West Coast ports secured a labor agreement in early 2023, port workers in Western Canada went on strike in July. The strike had a significant impact on the Port of Vancouver, which only resolved after 13 days. In contrast, Manzanillo, Mexico, saw a notable YoY growth of 7.2% in container volumes in Q2 2023. Over the past five years, Manzanillo's volume surged by 24%, benefiting from the nearshoring trend adopted by several US firms alongside the port of Lazaro Cardenas.
- The North American logistics market is being fueled by the rising demand for foreign goods, especially in emerging economies like Indonesia, Thailand, and India. This demand, particularly for imports from North America, is a key growth driver. In 2022, the market witnessed an expansion driven by heightened trade volumes. North American exports climbed to USD 3.23 trillion in 2022, up from USD 2.75 trillion in 2021. Simultaneously, imports surged to USD 4.54 trillion in 2022, rising from USD 3.93 trillion in 2021.
- In 2022, the US committed to achieving 30% nationwide sales of zero-emission trucks by 2030, with a further goal of 100% by 2040. In line with this, in 2023, Republic Services, a leading waste disposal and environmental services firm, unveiled its first fully integrated electric recycling and waste collection truck. The company had plans to introduce two more fully integrated electric recycling and garbage truck prototypes in 2023.
| End User Industry | |
| Agriculture, Fishing, and Forestry | |
| Construction | |
| Manufacturing | |
| Oil and Gas, Mining and Quarrying | |
| Wholesale and Retail Trade | |
| Others |
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| Other Services |
| Country | |
| Canada | |
| Mexico | |
| United States | |
| Rest of North America |
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North America Freight And Logistics Market Size Summary
The North America Freight and Logistics Market is poised for significant growth, driven by increasing demand for imports and exports, particularly from emerging economies. The market is experiencing a resurgence in trade volumes, with a notable expansion in both exports and imports. This growth is further supported by strategic investments in transportation infrastructure across the region, including substantial funding from the US, Canada, and Mexico to enhance road, rail, and port facilities. The logistics sector is also adapting to technological advancements, with companies like C.H. Robinson and Kuehne + Nagel implementing innovative solutions to streamline freight operations and reduce carbon footprints. Despite challenges such as labor disputes and fluctuating fuel prices, the market remains robust, with major players like A.P. Moller - Maersk, FedEx, and UPS maintaining significant market shares.
The market landscape is characterized by a fragmented structure, with the top companies holding a modest share, indicating opportunities for growth and competition. The ongoing nearshoring trend, particularly in Mexico, is contributing to increased container volumes, contrasting with the decline observed in some US and Canadian ports. The introduction of zero-emission vehicles and sustainable practices is also shaping the future of the logistics industry, aligning with broader environmental goals. As the market evolves, the focus on enhancing supply chain resilience and efficiency continues to be a priority, supported by government initiatives and private sector innovations. The interplay of these factors is expected to drive the market towards its projected growth trajectory, positioning North America as a key player in the global freight and logistics arena.
North America 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 Country
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1.3.1 Canada
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1.3.2 Mexico
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1.3.3 United States
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1.3.4 Rest of North America
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North America Freight And Logistics Market Size FAQs
How big is the North America Freight And Logistics Market?
The North America Freight And Logistics Market size is expected to reach USD 1572.28 billion in 2024 and grow at a CAGR of 4.08% to reach USD 1998.59 billion by 2030.
What is the current North America Freight And Logistics Market size?
In 2024, the North America Freight And Logistics Market size is expected to reach USD 1572.28 billion.
