Mexico Freight And Logistics Market Size & Share Analysis - Growth Trends & Forecasts up to 2029

Mexico Freight And Logistics Market Size & Share Analysis - Growth Trends & Forecasts up to 2029

The Mexico Freight And Logistics Market is projected to register a CAGR of 4.97%

Key Highlights

• Air is the Fastest-growing Mode Of Transport : Air is the fastest-growing segment, which had a CAGR of 4.39% during the review period and is expected to continue its growth during the forecast period.
• Domestic is the Largest Destination Type : The domestic segment is the largest segment by destination type, supported by the wholesale and retail trade end-user segment, which had a share of 58.8% in 2022.
• Manufacturing is the Largest End User : The manufacturing end-user segment is the largest segment, as the manufacturing sector is essential to the Mexican economy. The sector represents 16.2% of the economy in 2022.
• Non-Temperature Controlled is the Largest Temperature Control : The non-controlled segment is supported by the wholesale and retail trade end-user segment, which had a share of 58.3% in 2022, followed by the manufacturing segment (31.8%).
• Temperature Controlled is the Fastest-growing Temperature Control : The controlled segment is the fastest-growing segment supported by the pharmaceutical sector. Mexico has the second-largest pharmaceutical market in Latin America and ranks 15 globally.

Mexico Freight And Logistics Market Trends

Rising cross-border trade volumes

• The growth of the Mexican transportation service industry has made exports from Mexico quite competitive. Exports reached a value of USD 590.93 billion in 2022, leading to increased trade with fellow North American Free Trade Agreement (NAFTA) members, who accounted for 81.2% of Mexico’s total exports. The NAFTA has also firmly established trading relations for Mexico, with 84% of exports from the country going to the United States and Canada. As a result, the bulk of the Mexican freight industry is occupied by road freight, which held a modal share (tons) of 54.9% in 2022.
• Maritime transport in Mexico is one of the key pillars of developing the economy and international trade. In April 2021, the volume of container cargo handled in Mexican ports accounted for approximately 608.5 thousand TEUs. This represented an increase of around 15.2% compared to the throughput reported in April 2020.
• Air freight witnessed an upsurge during 2017-2021, registering a CAGR of 4.39%. In 2021, the way from Mexico City to Guadalajara was the leading domestic air freight route in Mexico, transporting approximately 26,227 metric tons of freight. The second-leading route was from Tijuana to Mexico City, accounting for almost 10,000 metric tons of air freight. In 2021, over 51,600 metric tons of air cargo loads were transported between Mexico City and Los Angeles, which made it the most important route for international air cargo transportation route in the Latin American country. The next ranking was occupied by the Mexico City - Frankfurt route, accounting for approximately 32,100 metric tons of freight.

Mexico Freight And Logistics Industry Overview

The Mexico Freight And Logistics Market is fragmented, with the top five companies occupying 17.44%. The major players in this market are Deutsche Post DHL Group, FedEx, Grupo Mexico Ferromex, Solistica and Traxion (sorted alphabetically).

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• The market estimate (ME) sheet in Excel format
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