LONDON–(BUSINESS WIRE)–Technvaio forecast the global domestic freight market in the US to grow by USD 170.10 billion during 2021-2025. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 5%.
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The domestic freight market in the US is driven by the growth of the e-commerce market. In addition, the consolidation of the logistics market leading to operational efficiency is anticipated to boost the growth of the domestic freight market in the US.
The growth of the e-commerce industry in the US has reduced consumer spending in physical stores and increased the time spent on online shopping. This is encouraging vendors to offer freight logistics services to e-commerce enterprises to meet customer expectations, thereby helping enterprises achieve customer loyalty and repeated sales. Therefore, the rapid growth of the e-commerce industry will positively influence the growth of the domestic freight market in the US during the forecast period.
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Major Five Domestic Freight in US Companies:
C.H. Robinson Worldwide Inc.
C.H. Robinson Worldwide Inc. operates its business through segments such as North American Surface Transportation, Global Forwarding, and All Other and Corporate. The company provides freight services in the US, such as Truckload, LTL, Ocean, Intermodal, and Chemical and Plastics Logistics.
CEVA Logistics AG
CEVA Logistics AG operates its business through segments such as Freight Management and Contract Logistics. The company provides road freight and rail freight services in the US.
Deutsche Post DHL Group
Deutsche Post DHL Group operates its business through segments such as Post & Parcel Germany, Express, Global Forwarding, Freight, Supply chain, and eCommerce Parcel. The company provides road freight and rail freight services in the US.
DSV Panalpina A/S
DSV Panalpina A/S operates its business through segments such as Air & Sea, Road, and Solutions. The company provides road freight and air freight services in the US.
FedEx Corp.
FedEx Corp. operates its business through segments such as FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services. The company provides domestic shipping services in the US.
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Domestic Freight Market in US Product Outlook (Revenue, USD Billion, 2020-2025)
- Bulk freight – size and forecast 2020-2025
- General freight – size and forecast 2020-2025
Domestic Freight Market in US End-user Outlook (Revenue, USD Billion, 2020-2025)
- Road – size and forecast 2020-2025
- Rail – size and forecast 2020-2025
- Others – size and forecast 2020-2025
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