Cargo transportation
is freight or shipment transportation that is used to transport cargo
from one place to another. Cargo transportation includes transport of
goods, raw material, finished products, and other such material between
manufacturers, distributors, retailers, and end-users. Cargo
transportation for roadways includes a various types of vehicles such as
pick-up trucks, lorry tanks, dry van trucks, flatbed trucks, truck
trailers, and refrigerated trucks. Cargo transportation includes various
modes of transportation and requires special equipment, escort, cargo
space, permits, machinery, advance agreements, and knowledge.
Booming industrialization, globalization,
expansion of the construction industry, and budding bilateral trade
coupled with revised trade policies are prime factors that projected to
propel the cargo transportation market during the forecast period.
Additionally, rapid expansion in transport facilities across the globe,
owing to advancements in technology and rising urbanization over the
years, has led to a surge in transport of goods and commodities. This is
another factor that is anticipated to boost the cargo transportation
market in near future.
Rise in trade among countries around the
world and noteworthy import and export are projected to drive the cargo
transportation market for all means of transport during the forecast
period. However, higher initial capital investments and maintenance of
entire cargo transportation and process are projected to hamper the
cargo transportation market during the prognosis period.
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The global cargo transportation market
can be segmented based on application, type, and region. Based on
application, the cargo transportation market can be segregated into
mineral, construction, oil & gas, healthcare, food & beverage,
and others. The construction segment holds for prominent share of the
global cargo transportation market. The segment is anticipated to
maintain its prominent position in the cargo transportation market owing
to the expansion of the construction industry due to rapid
infrastructure development across the globe.
Based on type, the cargo transportation
market can be split into rail transportation, road transportation, air
transportation, and sea transportation. The road transportation segment
leads the cargo transportation market due to expansion of construction
and food & beverage industry transportation by road. Furthermore,
for shorter distance or destination, road cargo transportation is
cost-effective and rapid, as compared to other transportation modes.
This, in turn, is likely to boost the road cargo transportation segment
of the market during the forecast period.
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