Rapid growth of the transportation and logistics industry has enhanced the standards for transportation drastically. Additionally, industries and companies need to deliver goods as quickly as possible, at minimum cost and with no damage. Thus, transportation industry is undergoing technological changes, intermodal transport being one of them. Intermodal transport is the used for transportation of goods from shippers to consignee with the help of two modes of freight, such as rail and truck. It is estimated that more than 20 million containers are moved via intermodal shipping each year. In present scenario, continues surge of more reliable, efficient and safe transportation is expected to fuel the growth of intermodal transport market in terms of value.
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Intermodal Transport Market Drivers
Some of the driving factors for the intermodal transportation market include, accelerated adoption of containerization, need for, safe, more reliable and efficient transportation system. On other hand, increasing trade and business relationships between various regions globally are expected to ensure new opportunities for the intermodal transport market. Government stringent rules pertaining to the cargo, containers and tank transportation is expected to positively influence the growth of the intermodal transportation market. Economic growth and increasing penetration of the logistics players in the developed countries is expected to fuel the growth of the intermodal transportation market during the forecast period.
Opportunities for the intermodal transportation market:
Increasing penetration of the logistics players in the developing countries is expected to fuel growth of the intermodal transport market. Moreover, regions such as Latin America, South Asia, and Oceania are expected to witness a rapid growth in the intermodal transportation market in the coming year. Adoption of the Geospatial Intermodal Freight Transportation (GIFT) across the world is expected to register new growth opportunities for the intermodal transport market during the forecast period.
Trend of the Intermodal Transport Market:
The introduction of containerization in transportation and shipment industry has permitted easy handling and has eliminated the concept of repackaging while change of modes. Growth in domestic intermodal transportation market is also positively influencing growth of the intermodal transportation market. Moreover, intermodal transportation is generally adopted by key players to increase the logistics efficiency and to improve supply chain management.
Intermodal Transport Market Challenges:
Lack of intermodal transportation knowledge and training is restraining the rapid growth of intermodal transport market in some developing and underdeveloped countries. However, increasing penetration of key players in such countries, increasing world trade and increasing globalization is expected to fuel growth of the intermodal transport market in in the untouched regions during the forecast period.
Intermodal Transport Market: Segmentation
Segmentation of the Intermodal Transport market on the basis of solutions:
- Fleet management
- Intermodal dispatch
- Freight security
- Terminals
- Warehousing
- Trucking software
Segmentation of the Intermodal Transport market on the basis of services:
- Managed Services
- Consulting Services
- Customization services
Segmentation of the Intermodal Transport market on the basis of type of mode:
- Rail-road,
- Road-water
- Road-air
- Other
Segmentation of the Intermodal Transport market on the basis of vertical:
- Consumer and retail
- Oil and gas,
- Manufacturing Industry
- Energy and Utility
- Mining
- Aviation
- Construction,
- Chemicals
- Pharmaceuticals and healthcare
- Food and beverages
- Others
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Segmentation of intermodal transportation market on the basis of mode of ownership
- Asset Owned
- Manufacturers
- Trade Integrators
Intermodal Transport Market: Market Participants
Examples of some of the key players identified in the Intermodal Transport market are DHL, DB Schenker,, FedEx, DSV, Yusen Logistics, Kunel+Nagel, Xpo Logistics, GE Transportation, HighJump Software, TMW Systems, and Trinium Trucking Systems. The logistics and integrated service providers work together of the whole process of intermodal transport. These players are expected to profoundly influence the Intermodal Transport market during the forecast period.
Intermodal Transport Market: Regional Overview
The growth of domestic intermodal transportation market in North America (especially) is expected to push the growth of intermodal transport market around the globe. Europe is expected to hold a significant market value share of the intermodal transport market owing to presence of large number of logistics companies in the region. Moreover significant business trade, and increasing industrialization is expected to witness a significant growth of the intermodal transportation market in the region. Asia Pacific region is expected to have a significant growth in the intermodal transport market due to increasing adoption of the domestic intermodal transport and increasing trends pertaining to the logistics industry. China is expected to hold a significant market value share in the intermodal transport market in the region due to present of significant trading business in the region. The players in the intermodal transport market are expected to penetrate in the Latin America. The intermodal transport market in the Middle East and Africa is expected to have a significant market value share due to the presence of large business of crude oil, petroleum and other commodities.
The report on intermodal transportation market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.