Drayage services market to grow by USD 2,960.11 million between 2022 and 2027; APAC to account for 38% of the market growth – Technavio

NEW YORK, April 21, 2023 /PRNewswire/ — The “Drayage Services Market by End-user, Type, and Geography – Forecast and Analysis 2023-2027” report has been added to Technavio’s offering. The drayage services market is estimated to grow by USD 2,960.11 million between 2022 and 2027, growing at a CAGR of 2.24% during the forecast period. APAC will account for 38% of the market growth during the forecast period. The growth of the regional market is driven by the increase in purchasing power of consumers and rising sales of consumer goods through e-commerce platforms. In addition, government initiatives focusing on trade and foreign direct investment (FDI) and strengthening cross-border logistics will contribute to the growth of the drayage services market in APAC during the forecast period. For Comprehensive details on the market size of the historic period (2017 to 2021) and forecast period (2023-2027) – View Sample Report

Vendor Landscape

The global drayage services market is fragmented with the presence of a substantial number of international and regional road freight transportation vendors. Established vendors are trying to gain market share by expanding their business to new regions. This tends to increase the competition among vendors. Also, the high capital requirement hinders new players from entering the market. Therefore, the threat of new entrants is moderate in 2022, and it is expected to remain the same during the forecast period. Some of the key vendors covered in the report include:

• Boa Logistics LLC – The company offers drayage services that provide the necessary link in the supply chain which spells the benefits of multimodal transport.
• G and D Integrated – The company offers drayage services which include optimizing supply chains by enabling important strategies such as vendor-managed inventory, packaging, distribution and fulfillment, cross-docking, and kitting.
• Hub Group Inc. – The company offers drayage services for supply chains of all sizes from any industry with dependable drayage services at both inland and coastal port locations.
• IMC Companies – The company offers drayage services that can be used for minor transporting of goods, usually confined to use by the container shipping industry.
• Asiana USA
• Continental Logistics
• ITS ConGlobal
• J B Hunt Transport Services Inc.
• Knight Swift Transportation Holdings Inc.
• NFI Industries Inc.
• PLS Logistics
• PORT CITY LOGISTICS
• RoadOne IntermodaLogistics Inc.
• Schneider National Inc.
• Taylor Distributing Co.

Market Dynamics

Major Driver – The market is driven by rising seaborne trade. Seaborne trade has been steadily growing across the world over the last decade. Factors such as the growing global GDP and the increased demand for goods and materials from different regions have increased seaborne activities worldwide. In addition, the growth in global population has increased the need for transporting various goods. This is expected to increase the volume of seaborne trade during the forecast period. Thus, the rise in global seaborne trade will drive the growth of the market during the forecast period.

Key Trends – The growing penetration of the e-commerce market is identified as the key trend in the market. Factors such as ease of buying, easy access to alternatives, and home delivery services have increased consumer dependence on e-commerce platforms. Also, the rise in the penetration of the internet and the rising adoption of smartphones have fueled the global e-commerce industry. This has resulted in the expansion of operations by logistics and transportation companies to cater to various business sectors. All these factors have increased the demand for drayage services, which is driving the growth of the market.

Major Challenge – High operational costs will challenge the growth of the market. The operational costs of vendors is increasing with the growing shortage of labor and rising fuel prices. In addition, the volatility in the prices of crude oil further increases the profit margins of vendors. The losses incurred by vendors operating in developing countries such as India is high due to higher fuel prices. As fuel prices increase, drayage service providers charge customers more to maintain their profits. All these factors negatively affect the growth of the market.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View Sample Report

Company Profiles

The drayage services market report includes information on the product launches, sustainability, and prospects of leading vendors including Asiana USA, Boa Logistics LLC, ContainerPort Group Inc., Continental Logistics, Evans Delivery Co. Inc., G and D Integrated, Hub Group Inc., IMC Companies, Interlog USA, ITS ConGlobal, J B Hunt Transport Services Inc., Knight Swift Transportation Holdings Inc., NFI Industries Inc., PLS Logistics, PORT CITY LOGISTICS, RoadOne IntermodaLogistics Inc., Schneider National Inc., Taylor Distributing Co., Trinity Logistics Inc., and XPO Inc.

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Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

 Market Segmentation

• By End-user, the market is classified into segments such as electronics and electrical, food and beverage, consumer goods and retail, and others.
• By type, the market is classified into ship, rail, and truck.
• By Geography, the market is classified as APAC, North America, Europe, Middle East and Africa, and South America.

The market growth in the electronics and electrical segment will be significant over the forecast period. The electronics and electrical industry is the prime end-user in the market. The segment is driven by the continuous growth in the demand for electronics and electrical products among end-users. In addition, the expansion of production facilities from high-cost to low-cost countries, such as China, and the increased adoption of environmentally friendly manufacturing practices by electronic device manufacturers will drive the growth of the segment during the forecast period.

Related Reports:

The reverse logistics market is estimated to grow at a CAGR of 7.8% between 2022 and 2027. The size of the market is forecast to increase by USD 324.23 billion. The market is segmented by type (recalls, commercial and B2B returns, repairable returns, end-of-use returns, and end-of-life returns), end-user (e-commerce, retail, automotive, healthcare, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The warehousing and distribution logistics market is estimated to grow at a CAGR of 6.2% between 2022 and 2027. The size of the market is forecast to increase by USD 72.96 billion. The market is segmented by business segment (warehousing, distribution logistics, and value-added services), end-user (healthcare, manufacturing, aerospace, telecommunication, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global drayage services market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global drayage services market 2017 – 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 – 2021 ($ million)

• 4.3 Type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Electronics and electrical – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Electronics and electrical – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Electronics and electrical – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Electronics and electrical – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Electronics and electrical – Year-over-year growth 2022-2027 (%)

• 6.4 Food and beverage – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Food and beverage – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Food and beverage – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Food and beverage – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Food and beverage – Year-over-year growth 2022-2027 (%)

• 6.5 Consumer goods and retail – Market size and forecast 2022-2027 
• Exhibit 42: Chart on Consumer goods and retail – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Consumer goods and retail – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Consumer goods and retail – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Consumer goods and retail – Year-over-year growth 2022-2027 (%)

• 6.6 Others – Market size and forecast 2022-2027 
• Exhibit 46: Chart on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 50: Market opportunity by End-user ($ million)
• Exhibit 51: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 52: Chart on Type – Market share 2022-2027 (%)
• Exhibit 53: Data Table on Type – Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 54: Chart on Comparison by Type
• Exhibit 55: Data Table on Comparison by Type

• 7.3 Ship – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Ship – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Ship – Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Ship – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Ship – Year-over-year growth 2022-2027 (%)

• 7.4 Rail – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Rail – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Rail – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Rail – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Rail – Year-over-year growth 2022-2027 (%)

• 7.5 Truck – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Truck – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Truck – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Truck – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Truck – Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 68: Market opportunity by Type ($ million)
• Exhibit 69: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 North America – Market size and forecast 2022-2027 
• Exhibit 79: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.5 Europe – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027 
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 Germany – Market size and forecast 2022-2027 
• Exhibit 103: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.11 Japan – Market size and forecast 2022-2027 
• Exhibit 107: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.12 UK – Market size and forecast 2022-2027 
• Exhibit 111: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Boa Logistics LLC
• Exhibit 123: Boa Logistics LLC – Overview
• Exhibit 124: Boa Logistics LLC – Product / Service
• Exhibit 125: Boa Logistics LLC – Key offerings

• 12.4 ContainerPort Group Inc. 
• Exhibit 126: ContainerPort Group Inc. – Overview
• Exhibit 127: ContainerPort Group Inc. – Product / Service
• Exhibit 128: ContainerPort Group Inc. – Key offerings

• 12.5 Evans Delivery Co. Inc. 
• Exhibit 129: Evans Delivery Co. Inc. – Overview
• Exhibit 130: Evans Delivery Co. Inc. – Product / Service
• Exhibit 131: Evans Delivery Co. Inc. – Key offerings

• 12.6 G and D Integrated
• Exhibit 132: G and D Integrated – Overview
• Exhibit 133: G and D Integrated – Product / Service
• Exhibit 134: G and D Integrated – Key offerings

• 12.7 Hub Group Inc.
• Exhibit 135: Hub Group Inc. – Overview
• Exhibit 136: Hub Group Inc. – Product / Service
• Exhibit 137: Hub Group Inc. – Key offerings

• 12.8 IMC Companies
• Exhibit 138: IMC Companies – Overview
• Exhibit 139: IMC Companies – Product / Service
• Exhibit 140: IMC Companies – Key offerings

• 12.9 ITS ConGlobal
• Exhibit 141: ITS ConGlobal – Overview
• Exhibit 142: ITS ConGlobal – Product / Service
• Exhibit 143: ITS ConGlobal – Key offerings

• 12.10 J B Hunt Transport Services Inc. 
• Exhibit 144: J B Hunt Transport Services Inc. – Overview
• Exhibit 145: J B Hunt Transport Services Inc. – Business segments
• Exhibit 146: J B Hunt Transport Services Inc. – Key offerings
• Exhibit 147: J B Hunt Transport Services Inc. – Segment focus

• 12.11 Knight Swift Transportation Holdings Inc. 
• Exhibit 148: Knight Swift Transportation Holdings Inc. – Overview
• Exhibit 149: Knight Swift Transportation Holdings Inc. – Business segments
• Exhibit 150: Knight Swift Transportation Holdings Inc. – Key news
• Exhibit 151: Knight Swift Transportation Holdings Inc. – Key offerings
• Exhibit 152: Knight Swift Transportation Holdings Inc. – Segment focus

• 12.12 NFI Industries Inc.
• Exhibit 153: NFI Industries Inc. – Overview
• Exhibit 154: NFI Industries Inc. – Product / Service
• Exhibit 155: NFI Industries Inc. – Key offerings

• 12.13 PLS Logistics
• Exhibit 156: PLS Logistics – Overview
• Exhibit 157: PLS Logistics – Product / Service
• Exhibit 158: PLS Logistics – Key offerings

• 12.14 PORT CITY LOGISTICS
• Exhibit 159: PORT CITY LOGISTICS – Overview
• Exhibit 160: PORT CITY LOGISTICS – Product / Service
• Exhibit 161: PORT CITY LOGISTICS – Key offerings

• 12.15 RoadOne IntermodaLogistics Inc. 
• Exhibit 162: RoadOne IntermodaLogistics Inc. – Overview
• Exhibit 163: RoadOne IntermodaLogistics Inc. – Product / Service
• Exhibit 164: RoadOne IntermodaLogistics Inc. – Key offerings

• 12.16 Schneider National Inc. 
• Exhibit 165: Schneider National Inc. – Overview
• Exhibit 166: Schneider National Inc. – Business segments
• Exhibit 167: Schneider National Inc. – Key news
• Exhibit 168: Schneider National Inc. – Key offerings
• Exhibit 169: Schneider National Inc. – Segment focus

• 12.17 XPO Inc.
• Exhibit 170: XPO Inc. – Overview
• Exhibit 171: XPO Inc. – Business segments
• Exhibit 172: XPO Inc. – Key offerings
• Exhibit 173: XPO Inc. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 174: Inclusions checklist
• Exhibit 175: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 176: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 177: Research methodology
• Exhibit 178: Validation techniques employed for market sizing
• Exhibit 179: Information sources

• 13.5 List of abbreviations 
• Exhibit 180: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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