Freight Transport Market Share

North American Market Statistics

North America in freight transport market is poised to account for around 60% revenue share by 2037. The market growth in the region is also expected on account of the rising shipment of goods. An incredible number of commodities are moved annually by the freight transportation network in the region either locally, within a specified area, or even throughout the entire nation.

By weight, trucks move about 72% of American freight. Moreover, the world's largest and most coveted freight rail network is found in the United States, which is an integral part of the extensive, multimodal freight transportation network in the region. As per the Association of American Railroads, U.S. freight railroads move around 1.6 billion tons across 140,000 miles of track in a typical year.

Besides this, in Canada, the majority of commodities are moved by road, since there is a vast rail network spanning more than 35,000 kilometers.

APAC Market Analysis

The Asia Pacific region will also encounter tremendous revenue for the freight transport landscape in the coming years and will hold the second position owing to the presence of eco-friendly freight transportation systems. The freight transport ecosystem in the region plays a pivotal role in mitigating the nation's greenhouse gas emissions through the launch of numerous initiatives to foster intermodal transport solutions.

For instance, the IKI project Green Freight strives to aid partners at the federal and state levels in transforming the Indian freight and logistics industry into a climate-friendly industry by improving productivity and lessening the automotive logistics industry's carbon footprint.

Additionally, trains are a popular means of passenger transportation in Japan because they are easy to use and very efficient. As a result, the nation's freight transport market is growing and is predicted to experience profitable expansion shortly. Japan's railway freight was around 38 million metric tons in 2022.

Furthermore, one of the main drivers of the rise in global oil consumption has been China's quickly increasing need for freight transportation, and this trend is predicted to continue to drive up world oil demand for transportation in the decades to come.