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Global Specialized Freight Services Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

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    Report

  • 213 Pages
  • February 2024
  • Region: Global
  • Infogence Global Research
  • ID: 5879944

Rising demand for raw materials from manufacturing industries

The Global Specialized Freight Services Market is estimated to be USD 538.31 Bn in 2023 and is expected to reach USD 809.81 Bn by 2028 growing at a CAGR of 8.51%.

Specialized Goods Services are a mode of transportation for household and office goods that uses trucks for short-distance travel and provides delivery of goods in rural areas based on on-demand delivery and custom-based deliveries and is primarily used for delivery of products ordered through e-commerce platforms.

E-commerce's rapid growth has provided new prospects for specialized freight services. The growing demand for speedy and efficient delivery of goods, especially huge or fragile items, represents a significant potential opportunity. White-glove delivery, last-mile logistics, and assembly/installation services are in high demand, propelling the market's expansion. The expansion of specialized freight services is being driven by the introduction of modern technologies such as the Internet of Things (IoT), artificial intelligence (AI), and robotics in the freight business. These technologies allow for more efficient tracking, monitoring, and handling of specialized cargo, resulting in increased safety, lower costs, and shorter delivery times. This presents a possibility for the projected timeframe.

Infrastructure, equipment, and specialized vehicles are frequently required for specialized freight services. Furthermore, operational costs for specialized labor, maintenance, and regulatory compliance might be substantial. These issues are market restraints, particularly for small and medium-sized businesses with limited resources. Natural disasters, geopolitical upheavals, and unexpected changes in demand disrupt the worldwide specialized freight services market's supply chain. These interruptions cause market participants delays, additional expenses, and operational issues. It is critical to develop robust contingency plans and flexible supply chain strategies to mitigate these issues.

Market Segmentations

  • The Global Specialized Freight Services Market is segmented based on Type, Size, Application, and Geography.
  • By Type, the market is classified into Automobiles & Heavy Equipment, Bulk Liquids, Dry Bulk Materials, Forest Products, and Refrigerated Goods.
  • Refrigerated goods have the biggest market share. Transport is critical in the food and pharmaceutical industries. It entails delivering perishable commodities at a controlled temperature. Population expansion, changing dietary choices, and worldwide food trade all impact the need for refrigerated goods services.
  • By Size, the market is classified into Heavy, Medium, and Light Trucks.
  • Heavy vehicles account for most of the market. This is because they have a bigger carrying capacity than medium and light trucks, making them excellent for hauling huge and heavy items over long distances. Heavy trucks also feature stronger engines and larger fuel tanks, allowing them to travel long distances without stopping for refueling or maintenance. Furthermore, big trucks are built to withstand the wear and tear of hauling huge cargo, making them more dependable and cost-effective in the long run.
  • By Application, the market is classified into Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food &Beverages, Pharmaceuticals & Healthcare, and Other Applications.
  • The Oil and Gas industry has the biggest market share. The oil and gas sector necessitates specialized goods services to transfer important equipment and supplies from one location to another, frequently over great distances and in extreme environmental conditions. The industry's specialized requirements, such as the necessity for specialized handling and shipment of sensitive equipment and supplies, make it one of the most frequent users of specialized goods services. Furthermore, the industry's continual need for vital supplies, such as drilling equipment and parts, to explore and extract oil and gas adds to its need for specialized freight services.
  • By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
  • The Asia-Pacific region has the largest geographical proportion. This is owing to the region's strong economic growth and the continued industrial expansion of many of the region's countries, which has raised the demand for goods and raw materials transportation services. The region is also home to a wide range of sectors, including manufacturing, mining, and construction, all requiring specialized transportation services to transfer their products successfully and efficiently to and from markets. Furthermore, the region's strategic location for international trade and transportation has contributed to its position as a significant market for specialized goods and services.

Recent Development

  • A.P. Moller - Maersk launched two new air cargo services between the US and China. - April 2023
  • Port of Piraeus launched the new flat rack service with Cosco Shipping Specialized Carriers Co., Ltd. - February 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Old Dominion Freight Line, R+L Carriers, Roadrunner Transportation Systems, Saia, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of the Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

  • The report presents a detailed Ansoff matrix analysis for the Global Specialized Freight Services Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
  • The publisher analyses the Global Specialized Freight Services Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
  • Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Specialized Freight Services Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
  • Excel data sheet for the market size will also be provided with the report.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
  • The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
  • The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights

  • A complete analysis of the market, including the parent industry
  • Important market dynamics and trends
  • Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
  • Market segmentation
  • Competitive Analysis: Comparative analysis of competitor
  • Historical, current, and projected size of the market based on value and volume
  • Market size of the US states
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations, and Outlook
4 Market Dynamics
4.1 Impact Analysis
4.2 Drivers
4.2.1 Increasing Demand for Specialized Freight Services
4.2.2 Rapid Expansion of E-Commerce
4.3 Restraints
4.3.1 High Infrastructure and Operational Costs
4.4 Opportunities
4.4.1 Technological Advancements and Automation Like the Internet of Things (IoT), Artificial Intelligence (AI), & Robotics
4.5 Challenges
4.5.1 Regulatory Compliance
4.5.2 Supply Chain Disruptions
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTEL Analysis
5.4 Impact of Covid-19
5.5 Ansoff Matrix Analysis
6 Global Specialized Freight Services Market, By Type
6.1 Introduction
6.2 Automobiles & Heavy Equipment
6.3 Bulk Liquids
6.4 Dry Bulk Materials
6.5 Forest Products
6.6 Refrigerated Goods
7 Global Specialized Freight Services Market, By Size
7.1 Introduction
7.2 Heavy Trucks
7.3 Medium Trucks
7.4 Light Trucks
8 Global Specialized Freight Services Market, By Application
8.1 Introduction
8.2 Oil & Gas
8.3 Industrial & Manufacturing
8.4 Energy & Mining
8.5 Food &Beverages
8.6 Pharmaceuticals & Healthcare
8.7 Other Applications
9 Americas' Specialized Freight Services Market
9.1 Introduction
9.2 Argentina
9.3 Brazil
9.4 Canada
9.5 Chile
9.6 Colombia
9.7 Mexico
9.8 Peru
9.9 United States
9.10 Rest of Americas
10 Europe's Specialized Freight Services Market
10.1 Introduction
10.2 Austria
10.3 Belgium
10.4 Denmark
10.5 Finland
10.6 France
10.7 Germany
10.8 Ireland
10.9 Italy
10.10 Luxembourg
10.11 Netherlands
10.12 Norway
10.13 Poland
10.14 Russia
10.15 Spain
10.16 Sweden
10.17 Switzerland
10.18 United Kingdom
10.19 Rest of Europe
11 Middle East and Africa's Specialized Freight Services Market
11.1 Introduction
11.2 Egypt
11.3 Israel
11.4 Nigeria
11.5 Qatar
11.6 Saudi Arabia
11.7 South Africa
11.8 United Arab Emirates
11.9 Rest of MEA
12 APAC's Specialized Freight Services Market
12.1 Introduction
12.2 Australia
12.3 Bangladesh
12.4 China
12.5 India
12.6 Indonesia
12.7 Japan
12.8 Malaysia
12.9 Philippines
12.10 Singapore
12.11 South Korea
12.12 Sri Lanka
12.13 Thailand
12.14 Taiwan
12.15 Rest of Asia-Pacific
13 Competitive Landscape
13.1 Competitive Quadrant
13.2 Market Share Analysis
14 Company Profiles
14.1 ArcBest Corporation
14.1.1 Company Overview
14.1.2 Company Snapshot
14.1.3 Product Overview
14.1.4 Business Overview
14.1.5 Swot Analysis
14.1.6 Recent Development
14.2 C.H. Robinson Worldwide
14.2.1 Company Overview
14.2.2 Company Snapshot
14.2.3 Product Overview
14.2.4 Business Overview
14.2.5 Swot Analysis
14.2.6 Recent Development
14.3 Covenant Transportation Group
14.3.1 Company Overview
14.3.2 Company Snapshot
14.3.3 Product Overview
14.3.4 Business Overview
14.3.5 Swot Analysis
14.3.6 Recent Development
14.4 FedEx Freight
14.4.1 Company Overview
14.4.2 Company Snapshot
14.4.3 Product Overview
14.4.4 Business Overview
14.4.5 Swot Analysis
14.4.6 Recent Development
14.5 Forward Air Corporation
14.5.1 Company Overview
14.5.2 Company Snapshot
14.5.3 Product Overview
14.5.4 Business Overview
14.5.5 Swot Analysis
14.5.6 Recent Development
14.6 GlobalTranz
14.6.1 Company Overview
14.6.2 Company Snapshot
14.6.3 Product Overview
14.6.4 Business Overview
14.6.5 Swot Analysis
14.6.6 Recent Development
14.7 Heartland Express
14.7.1 Company Overview
14.7.2 Company Snapshot
14.7.3 Product Overview
14.7.4 Business Overview
14.7.5 Swot Analysis
14.7.6 Recent Development
14.8 Hub Group, Inc.
14.8.1 Company Overview
14.8.2 Company Snapshot
14.8.3 Product Overview
14.8.4 Business Overview
14.8.5 Swot Analysis
14.8.6 Recent Development
14.9 J.B. Hunt Transport Services
14.9.1 Company Overview
14.9.2 Company Snapshot
14.9.3 Product Overview
14.9.4 Business Overview
14.9.5 Swot Analysis
14.9.6 Recent Development
14.10 Knight-Swift Transportation Holdings
14.10.1 Company Overview
14.10.2 Company Snapshot
14.10.3 Product Overview
14.10.4 Business Overview
14.10.5 Swot Analysis
14.10.6 Recent Development
14.11 Old Dominion Freight Line
14.11.1 Company Overview
14.11.2 Company Snapshot
14.11.3 Product Overview
14.11.4 Business Overview
14.11.5 Swot Analysis
14.11.6 Recent Development
14.12 R+L Carriers
14.12.1 Company Overview
14.12.2 Company Snapshot
14.12.3 Product Overview
14.12.4 Business Overview
14.12.5 Swot Analysis
14.12.6 Recent Development
14.13 Roadrunner Transportation Systems
14.13.1 Company Overview
14.13.2 Company Snapshot
14.13.3 Product Overview
14.13.4 Business Overview
14.13.5 Swot Analysis
14.13.6 Recent Development
14.14 Saia
14.14.1 Company Overview
14.14.2 Company Snapshot
14.14.3 Product Overview
14.14.4 Business Overview
14.14.5 Swot Analysis
14.14.6 Recent Development
14.15 Schneider National
14.15.1 Company Overview
14.15.2 Company Snapshot
14.15.3 Product Overview
14.15.4 Business Overview
14.15.5 Swot Analysis
14.15.6 Recent Development
14.16 TFI International
14.16.1 Company Overview
14.16.2 Company Snapshot
14.16.3 Product Overview
14.16.4 Business Overview
14.16.5 Swot Analysis
14.16.6 Recent Development
14.17 Universal Logistics Holdings
14.17.1 Company Overview
14.17.2 Company Snapshot
14.17.3 Product Overview
14.17.4 Business Overview
14.17.5 Swot Analysis
14.17.6 Recent Development
14.18 UPS (United Parcel Service)
14.18.1 Company Overview
14.18.2 Company Snapshot
14.18.3 Product Overview
14.18.4 Business Overview
14.18.5 Swot Analysis
14.18.6 Recent Development
14.19 XPO Logistics
14.19.1 Company Overview
14.19.2 Company Snapshot
14.19.3 Product Overview
14.19.4 Business Overview
14.19.5 Swot Analysis
14.19.6 Recent Development
14.20 YRC Worldwide
14.20.1 Company Overview
14.20.2 Company Snapshot
14.20.3 Product Overview
14.20.4 Business Overview
14.20.5 Swot Analysis
14.20.6 Recent Development
15 Appendix
15.1 Self-Assessment Form

Companies Mentioned

  • ArcBest Corporation
  • C.H. Robinson Worldwide
  • Covenant Transportation Group
  • FedEx Freight
  • Forward Air Corporation
  • GlobalTranz
  • Heartland Express
  • Hub Group, Inc.
  • J.B. Hunt Transport Services
  • Knight-Swift Transportation Holdings
  • Old Dominion Freight Line
  • R+L Carriers
  • Roadrunner Transportation Systems
  • Saia
  • Schneider National
  • TFI International
  • Universal Logistics Holdings
  • UPS (United Parcel Service)
  • XPO Logistics
  • YRC Worldwide

Table Information