Intermodals Market size was valued at USD 29,369.9 million in 2022 and is expected to grow at a 13.8% CAGR from 2023 to 2029. Intermodal is a mode of transportation involving multiple modes like road, rail, airway, and marine for safe and efficient delivery of goods to the destination. The goods in intermodal transportation are paced in a standard container which can be transported and transferred from one mode to another without unloading. Factors such as reduced transportation costs, increase in reliability and security, and improved supply chain visibility are expected to drive the growth of the intermodal market over the forecast years. In addition, the growing globalization of trade and rising international freight, and growing technological advancements such as warehouse automation, autonomous trucks, artificial intelligence, and robotics are expected to further drive the growth of the intermodal market over the forecast period. Moreover, the increasing environmental concern of consumers in reducing carbon footprints and promoting sustainable transportation is expected to increase the demand for intermodal transportation over the forecast period. However, huge capital investments, rising competition from the trucking market, and limited infrastructures are expected to hinder the growth of the intermodals market over the forecast period. Moreover, increasing government investments in transportation infrastructures is expected to provide opportunities for the growth of the intermodals market. For instance, the US government is focusing on the development of intermodal terminals and transportation routes. In addition, the rising demand for transportation from the e-commerce platform, and increasing demand for containerization are expected to have a positive impact on the growth of the intermodals market over the forecast years.
Fastest Growing Market
The intermodals market is expected to grow over the forecast period due to the increasing demand for transportation owing to the increasing globalization of trade and international freight transportation. The rising global trade is expecting safe and efficient modes of transportation from the source to the destination. Intermodal transportation is an ideal choice for safe, efficient, and flexible transportation thus increasing the demand for intermodal transportation. In addition, the increasing environmental consciousness of the consumer in reducing carbon footprint and having a sustainable mode of transportation is expected to boost the growth of the intermodal market over the forecast period.
Intermodals Market was valued at USD 29,369.9 million in 2022 and is expected to grow at a 13.8% CAGR from 2023 to 2029.
Increasing demand for efficient transportation and increasing environmental consciousness in reducing carbon foot prints is expected to drive the intermodal market.
The leading players in the global Intermodals market are BNSF Railway, Norfolk Southern Railway, Union Pacific Railroad, Canadian National Railway, Deutsche Bahn, CSX Transportation, Schneider National Inc, SNCF, Japan Freight Railway Company (JR Freight), Knight-Swift Transportation Holdings Inc, China Freight Co Ltd, Triman Shipping Ltd, DocShipper Asia, Bondex Supply Chain Management Co Ltd, Toprail International Logistics Co Ltd.
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation, and Seven years forecast is presented from 2023– 2029.