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Drayage Services Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR70586
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The drayage services market share is expected to increase by USD 2.90 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2%. The drayage services market report also offers information on several market vendors, including Boa Logistics LLC, Evans Delivery Co. Inc., Hub Group Inc., ITS ConGlobal, J.B. Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., PLS Logistics, RoadOne IntermodaLogistics Inc., Schneider National Inc., and XPO Logistics Inc. among others. Furthermore, this drayage services market research report extensively covers drayage services market segmentation by end-user (electronics and electrical, food and beverage, consumer goods and retail, and others) and geography (APAC, North America, Europe, MEA, and South America).

What will the Drayage Services Market Size be During the Forecast Period?

Drayage Services Market Size

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"APAC accounts for a major share of the world's top ports in terms of container traffic. In addition to this, geopolitics is further driving port activities in APAC owing to increased investments in facilities by regional manufacturing powerhouses to increase their influence and get better access to resources and future markets in the Middle East and Central Asia."

Drayage Services Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing manufacturing industry is notably driving the drayage services market growth, although factors such as the shortage of drayage drivers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the drayage services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Drayage Services Market Driver

One of the key factors driving growth in the drayage services market is the growing manufacturing industry. Manufacturing has emerged as a high-growth industry. Numerous countries and regions are witnessing an increase in the manufacturing of electronics, food, rubber and plastic products, textiles, pharmaceuticals, basic metals, and apparel. With the increasing adoption of advanced technologies, the manufacturing industry is undergoing a transformation. In APAC, the manufacturing industry is growing, owing to the availability of low-cost labor and policy reforms that have improved the ease of doing business. The growth in the manufacturing industry will lead to an increase in the production volumes of various types of products. Manufacturers and other stakeholders are opting for safer modes of transportation for materials and consumer goods, which is increasing the demand for drayage services. Such factors are likely to fuel the growth of the market in focus.

Key Drayage Services Market Trend

The growing e-commerce market is another factor supporting the drayage services market share growth. E-commerce is a fast-growing market and has a strong impact on retail as well as distribution channels. The shift toward online shopping by customers seems to be permanent because of the several benefits that it offers, such as ease of buying, easy access to alternatives, and home delivery services. The rise in the adoption of the Internet and mobile devices is also fostering the growth of the global e-commerce market. This, in turn, has resulted in an increased demand for drayage services. APAC is the fastest-growing segment in the global e-commerce market due to the increase in the purchasing power of its middle-class population. Growing disposable incomes and urbanization, especially in European and Asian countries, are accelerating the growth of the retail market, which is resulting in a well-organized retail sector. The growth of the e-commerce and retail sectors is expected to increase the competition in the global drayage services market.

Key Drayage Services Market Challenge

The shortage of drayage drivers will be a major challenge for the drayage services market during the forecast period. Products in this supply chain need to be delivered to different destinations within a short duration. Consequently, a streamlined supply chain is required to ensure customer satisfaction. However, the global drayage services market is witnessing a shortage of skilled drayage drivers, which is hampering its growth. This shortfall is expected to become more pronounced if various issues, such as low wages, long working hours, and the implementation of electronic logging devices (ELDs), are not addressed. The widening gap between the demand for and supply of skilled drivers will affect the global drayage services market negatively. The industry-wide shortage of drayage drivers may result in low vehicle utilization and missed revenue opportunities. Hence, the shortage of skilled drivers will pose a challenge to the market in focus.

This drayage services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global drayage services market as a part of the global logistics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the drayage services market during the forecast period.

Market Overview

The parent global logistics market covers revenue generated by companies providing air freight transportation; courier; and logistics services, including package and mail delivery and customs agents. Technavio calculates the global logistics market size based on revenue generated by logistics service providers. 

Who are the Major Drayage Services Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Boa Logistics LLC
  • Evans Delivery Co. Inc. 
  • Hub Group Inc.
  • ITS ConGlobal 
  • J.B. Hunt Transport Services Inc.
  • Knight-Swift Transportation Holdings Inc.
  • PLS Logistics
  • RoadOne IntermodaLogistics Inc.
  • Schneider National Inc.
  • XPO Logistics Inc.

 

This statistical study of the drayage services market encompasses successful business strategies deployed by the key vendors. The drayage services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Boa Logistics LLC - The company offers drayage services that include Trucking of containerized cargo from port to port, The cargo might be taken from a port to a rail yard to begin the next leg of its journey, The cargo may be trucked to its ultimate location.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The drayage services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Drayage Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the drayage services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Drayage Services Market?

Drayage Services Market Market segmentation by region

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38% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for drayage services in APAC. Market growth in this region will be faster than the growth of the market in other regions.

With the rapid economic growth in APAC, the per capita income of the people has increased dramatically over the past few years, which has led to an increase in the purchasing power of consumers, thereby leading to higher sales in the e-commerce sector. This will facilitate the drayage services market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in the region was negatively impacted by the COVID-19 outbreak in the region in 2020. The temporary closure of several industrial operations, primarily across the automotive, oil and gas, and construction industries, due to the stringent lockdown measures implemented by the governments of different countries, adversely impacted the growth of the drayage services market in the region in 2020. However, with the gradual recovery of economies from the COVID-19 crisis, the regional drayage services market is expected to rebound during 2022-2025.

What are the Revenue-generating End-user Segments in the Drayage Services Market?

Drayage Services Market Segmentation

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The drayage services market share growth by the electronics and electrical segment will be significant during the forecast period. Production has shifted from high-cost to low-cost countries, such as China, which has become an important hub for the high-volume production of electronic equipment. As of 2018, China was one of the highest producers of electronic equipment. Hence, the progressive growth in the electronics industry will result in more inter-country trade, which, in turn, will drive the demand for drayage services in this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the drayage services market size and actionable market insights on post COVID-19 impact on each segment.

 

Drayage Services Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2%

Market growth 2021-2025

$ 2.90 billion

Market structure

Fragmented

YoY growth (%)

1.49

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 38%

Key consumer countries

US, China, Germany, UK, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Boa Logistics LLC, Evans Delivery Co. Inc. , Hub Group Inc., ITS ConGlobal , J.B. Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., PLS Logistics, RoadOne IntermodaLogistics Inc., Schneider National Inc., and XPO Logistics 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

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What are the Key Data Covered in this Drayage Services Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive drayage services market growth during the next five years
  • Precise estimation of the drayage services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the drayage services industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of drayage services market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Impact of COVID-19 on the industrials sector
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five Forces Analysis
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Electronics and electrical - Market size and forecast 2020-2025
    • Food and beverage - Market size and forecast 2020-2025
    • Consumer goods and retail - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Competitive scenario
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Boa Logistics LLC
      • Evans Delivery Co. Inc. 
      • Hub Group Inc.
      • ITS ConGlobal 
      • J.B. Hunt Transport Services Inc.
      • Knight-Swift Transportation Holdings Inc.
      • PLS Logistics
      • RoadOne IntermodaLogistics Inc.
      • Schneider National Inc.
      • XPO Logistics Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your sample now!
      Drayage Services market growth will increase by $2901.66 million during 2020-2025.
      The drayage services market is expected to grow at a CAGR of 2.27% during 2020-2025.
      Technavio has segmented the drayage services market by end user (Electronics and electrical, Food and beverage, Consumer goods and retail, and Others) and geographic (APAC, North America, Europe, MEA, and South America).
      Boa Logistics LLC, Evans Delivery Co. Inc.?á, Hub Group Inc., ITS ConGlobal?á, J.B. Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., PLS Logistics, RoadOne IntermodaLogistics Inc., Schneider National Inc., XPO Logistics Inc. are a few of the key vendors in the drayage services market.
      APAC will register the highest growth rate of 37.85% among the other regions. Therefore, the drayage services market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the drayage services market growth are:
      • Growing manufacturing industry
      The drayage services market vendors should focus on grabbing business opportunities from the electronics and electrical segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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      • Five-force market analysis

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