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The Americas Oversized Cargo Transportation Market size is forecast to increase by USD 12.80 billion, at a CAGR of 3.02% between 2024 and 2028. Several factors significantly contribute to the market's growth trajectory. Firstly, the expanding space exploration and satellite industry, coupled with the continuous growth of aerospace exports, fuel market expansion. These sectors drive demand for specialized transportation solutions, supporting the market's upward trajectory. Secondly, the automotive sector's increasing adoption of oversized cargo transportation presents lucrative opportunities. As automotive companies transport larger components and machinery, the demand for specialized logistics services rises, driving Americas oversized cargo transportation market growth. Lastly, the proliferation of free trade agreements facilitates international trade, spurring demand for efficient transportation and logistics services.
These agreements reduce trade barriers, leading to increased cross-border commerce and the need for streamlined transportation solutions. Together, these factors create a conducive environment for market expansion, fostering innovation and driving the adoption of advanced transportation technologies. The market forecast report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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In the oversized cargo transportation market in Americas, standard container play a pivotal role in efficiently moving goods across specific region, ensuring adherence to maximum permitted standards for mass and physical capacities. Specialized services cater to oversized or overweight cargo and heavy cargo, requiring escort and adequate cargo space. Industries such as military machinery and industrial equipment rely on efficient logistics to transport their goods, highlighting the importance of reliable transportation networks in facilitating global trade and commerce. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
A growing number of free trade agreements is the key factor driving the market. Free trade agreements (FTAs) are intended to reduce tariff and non-tariff trade barriers between the member countries. These policies aid in the free movement of goods and services, including oversized goods, among member countries. With the increase in the number of free trade agreements, there will be an increased movement of oversized goods, which will, in turn, increase the need for oversized cargo transportation in the Americas during the forecast period.
Consequently, the rise in such free trade agreements between nations is anticipated to boost the economy of member countries. This rising number of free trade agreements will increase the demand for oversized cargo transportation to provide a quick, reliable, and economical way of transporting capital and industrial goods. Hence, the rise in the number of free trade agreements in the Americas is anticipated to drive the growth of the market during the forecast period.
Growing collaborations between military forces and cargo transportation companies is the primary trends shaping the market. In recent years, there has been a growing trend toward greater collaboration between military forces and cargo transportation companies. This collaboration is driven by a number of factors, including the need to improve the efficiency and effectiveness of logistics operations, reduce costs, and increase flexibility and agility. One key area of collaboration is the sharing of cargo transportation resources. Military forces and cargo transportation companies are increasingly working together to share logistics assets, such as transport vehicles. This allows both parties to benefit from economies of scale and reduce costs. Cargo transportation companies also benefit from collaborations with military forces.
Furthermore, collaborations between military forces and logistics companies can also help increase the resilience and agility of transportation operations. By working together, they can respond quickly to changing needs and priorities and adapt their operations to changing circumstances. Thus, growing collaborations between military forces and cargo transportation companies are one of the major trends that are expected to propel the growth of the market during the forecast period.
Stringent regulations are the major challenge that affects the market. Oversized cargo transportation service providers need to comply with various regulations in different countries across the Americas. The need to adhere to numerous government regulations across the Americas due to certain factors such as safety, security, and commercial reasons, has turned out to be an important part of international logistics. Oversized cargo transportation requires compliance with weight limits to ensure the safety of the cargo, transportation crew, and other users. Oversized cargo transportation service providers require a significant amount of time and money to familiarize their staff with the various rules and policies of different countries.
In addition, transactions, particularly international transactions, have to comply with the continuously changing and evolving international regulations. For instance, in the US, the Federal Highway Administration and the Department of Transportation regulate federal requirements for weight and dimensional standards on vehicles transporting oversized cargo loads. There are also varying rules and regulations on logistics within a country. Therefore, the increasing number of stringent rules and regulations globally on oversized cargo transportation is expected to hamper the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The oversized cargo transportation market in Americas encompasses a wide range of industries, from agriculture machinery to construction machinery, catering to oversized or overweight cargo and heavy cargo needs. Standard containers ensure efficient transportation while adhering to maximum permitted standards for mass and physical capacities in specific regions. Utilizing artificial intelligence solutions, the sector optimizes import-export dynamics and enhances transportation of cargo across various modes, including watercraft, meeting the demands of industries like the renewable energy sector.
The industrial equipment segment is estimated to witness significant growth during the forecast period. The road transportation segment is likely to benefit from the increase in oversized freight volumes at ports of entry in the Americas. Trade between the United States-Mexico-Canada Agreement (USMCA) member countries is likely to increase during the forecast period, particularly because of the growth in industrial manufacturing and the growing manufacturing of aerospace equipment needed in space exploration projects. This is also expected to increase the use of oversized cargo transportation services during the forecast period.
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The industrial equipment segment was the largest segment and was valued at USD 29.14 billion in 2018. Additionally, the increasing demand for road freight transportation in the automotive industry in the US and a shift in the supply chain strategies adopted by shippers are likely to favor the Mexican manufacturing industry. This will lead to an increase in the volume of goods transported across the US-Mexico border. The appreciation of the US dollar exchange rate against the Canadian dollar and Mexican peso, along with growing cross-border trade activities in the Americas will fuel the growth of the road transportation segment of the oversized cargo transportation market in Americas during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Air cargo transportation plays a crucial role in the global logistics network, facilitating the swift movement of goods, including raw materials and high-value items. Integration in cargo vehicles cargo centers and heavy cargo transport stations serve as vital hubs for efficient operations, leveraging technologies like artificial intelligence (AI) and real-time analytics for enhanced fleet management software. AI integration and IoT (Internet of things) in cargo vehicles and motor vehicles enables improved tracking and monitoring, while precision scheduled railroading optimizes rail freight operations. Companies like CJ Logistics drive innovation in containerized shipping across roadways and waterways, contributing to seamless import and export dynamics through strategic capital investments and transformation of infrastructure.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.02% |
Market Growth 2024-2028 |
USD 12.80 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.86 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ameritrans Freight International, AP Moller Maersk AS, CJ Group, CMA CGM SA Group, Crowley Maritime Corp., Daseke Inc., Deutsche Bahn AG, Deutsche Post AG, DSV AS, Expeditors International of Washington Inc., FedEx Corp., Kintetsu World Express Inc., Landstar System Inc., Latin american cargo, Lynden Inc., New Wave International Cargo, Orient Overseas Container Line Ltd., PSA International Pte Ltd., Sarens NV, and Amerijet International Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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