Facts and Factors Market Research has published a new report titled “Middle East & Africa Freight & Cargo Market By Mode (Air, Road, Marine, Rail, and Multimodal), By Service (Customs Clearance & Compliance, Insurance, Storage & Packaging, Inventory Management, Booking Management, Carrier Management, and Logistics Design), By Delivery Type (Normal and Express), By Industry Vertical (Aerospace, Manufacturing, Automotive, Pharmaceutical & Healthcare, FMCG, Retail, Oil & Energy Logistics, and Technology), and By Regional Coverage (Domestic and International): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the Middle East & Africa freight & cargo market is predicted to be valued at approximately USD 213.64 billion in 2018 and is expected to reach a value of around USD 315.56 billion by 2027, at a CAGR of around 4.37 % between 2019 and 2027.
Freight & Cargo are the terminologies that are usually associated with the transportation of goods. Freight is the transport of goods in bulk through roadways and railways. Precisely, freight is the terms used for loading of goods on a semi-trailer of the train or semi-trailer of a truck. It is the key component of a spectrum of eCommerce business activities. Cargo is a terminology used to define the transport of goods through the ship or airplane mode of transport.
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Today, a rapid bulge in the population size, swift urbanization, and industrialization has drastically raised the need for freight & cargo across myriad regions. Escalating disposable income in developing countries and a continual surge in demand for storage & packaging, carrier management inventory management, and booking management are projected to influence the growth of freight & cargo market over the forecast period.
Thriving eCommerce activities to boost the market trends
Rise in the eCommerce business in the Middle East and Africa will amplify the scope of the market in the region over the forecast period. Apart from this, the increase in the export and import business activities will further embellish the expansion of the freight & cargo industry in the Middle East and African market during the period from 2019 to 2027. In addition to this, large-scale cloud-based functions will propel the demand for freight & cargo activities in the region. Nonetheless, rising crude oil or fuel costs will impede the business expansion over the forecast timeframe. Apparently, complicated trade protection regulations will further obstruct the growth of the Middle East & Africa freight & cargo industry over the forecast timeline.
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Furthermore, the introduction of big data and blockchain technologies, as well as massive acceptance of digitization, is likely to favorably influence the expansion of the market, thereby nullifying the hindrances on the market progression over the forecast timeline. Apart from this, robotics-driven warehouse management activities and elastic logistics for on-time order deliveries will favorably impact the growth of the market over the forecast timeline.
Road is likely to dominate the mode segment during the forecast period
The growth of the segment during the period from 2019 to 2027 is due to prominent freight & cargo activities taking place across the Middle East & African region. Apparently, the road segment is likely to register a CAGR of over 4% during the forecast period.
Manufacturing segment to register highest CAGR over the forecast timeline
The manufacturing segment is set to record the highest growth rate of over 4.10% over the forecast timeline. The growth of the segment is credited to massive transport of freight & cargo from the manufacturing units to its destinations across the Middle East & African regions.
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Saudi Arabia to make major contributions towards the regional market revenue share by 2027
The growth of the regional market is attributed to massive carrying out of the freight & cargo activities in the country.
Some of the key players in the market include Agility, Al-Futtaim Logistics, Ardian Global Express LLC, CEVA Logistics, DHL International GmbH, Dolphin Shipping & Logistics, Expeditors International of Washington, Inc., GAC, Greenways Logistics Intl, and Hellmann Worldwide Logistics WLL.
This report segments the Middle East & Africa Freight & Cargo market as follows:
Middle East & Africa Freight & Cargo Market: By Mode Segment Analysis
Middle East & Africa Freight & Cargo Market: By Service Segment Analysis
Customs Clearance & Compliance
Storage & Packaging
Middle East & Africa Freight & Cargo Market: By Delivery Type Segment Analysis
Middle East & Africa Freight & Cargo Market: By Industry Vertical Segment Analysis
Pharmaceutical & Healthcare
Oil & Energy Logistics
Middle East & Africa Freight & Cargo Market: By Regional Coverage Segment Analysis
Middle East & Africa Freight & Cargo Market: Country-wise Segment Analysis
The Middle East & Africa
Rest of Middle East & Africa
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