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United States Short Sea Road Sea Freight Market US Short Sea Road Sea Freight Market CA G R to End User 2022 2028
Dublin, March 28, 2024 (GLOBE NEWSWIRE) — The report “U. S. Short-Sea Ocean Road Freight Forwarding” has been published in the U. S. “U. S. Market Share Analysis, Industry Trends & Statistics, Growth Forecast 2016-2029” was added to the ResearchAndMarkets. com offering.
The short-haul freight forwarding market is developing amid the boom in e-commerce. The U. S. short-haul road freight forwarding market is expected to be the largest in the world. A physically powerful reflection of an evolving logistics landscape, the U. S. is expected to grow frequently in the coming years. Industry research forecasts a notable increase in market duration from $150. 65 billion in 2024 to $177. 19 billion forecast through 2029, with a compound annual expansion rate (CAGR) of 3. 30%.
Domestic Road Transportation Dominates as E-Commerce SoarsThe domestic trucking segment stands out as a vital driving force of this growth, driven largely by the transformative effect of the e-commerce sector. The onset of the COVID-19 pandemic led to profound adjustments in customer behavior, which in turn heavily favored the short sea trucking sector.
Wholesale and Retail Market Share The wholesale and retail industry sectors are known as the major end-users of the short-distance road freight forwarding market. These sectors have contributed to the expansion of the market as they continue to have very broad effects on the market. GDP of the country.
The energy sector is witnessing the fastest growth among end-users The oil, fuel, mining, and quarrying sectors will be the fastest-growing end-user segments in the market. This immediate expansion is supported by the resumption of production activities in the oil sector. and the fuel sector, where demand exceeds supply.
Market Fragmentation and Competitive Landscape The U. S. Short-Sea Road Freight Forwarding MarketThe U. S. is particularly fragmented, with key players such as FedEx, Ryder System, Schneider, United Parcel Service (UPS) and XPO Logistics Inc. at the head of the group. Collectively, those corporations have a market share of 26. 70%, underscoring a competitive environment where operational excellence and strategic expansion play a critical role. The industry’s trajectory suggests a robust yet dynamic market, rich in opportunities and driven by ever-evolving customer demands. and industry innovations. The integration of the essential elements of e-commerce with short-sea maritime logistics underlines the essential role of the sector in the national economic fabric. As such, industry players remain on the lookout for trends that promise to shape the trucking landscape. in the coming years. A variety of corporations analyzed in this report include, but are not limited to:
Ceva Logistics
Deutsche Post DHL Group
FedEx
Knight-Swift Transportation
Landstar System Inc.
PS Logistics
Ryder System
Schneider
Parcel Delivery Service (UPS)
XPO Logistics Inc.
For more information on this report, https://www. researchandmarkets. com/r/3q3h10
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United States Short Sea Trucking Market United States Short Sea Highway Sea Freight Forwarding Market CA G R to End User 2022 2028