Oversized Cargo Transportation Market Forecasts to 2028 – Global Analysis By Type (Air Transportation, Railway Transportation, Road Transportation, Sea Transportation), Application (Construction Industry, Mineral Industry, Energy and Petrochemical Industr

Oversized Cargo Transportation Market Forecasts to 2028 – Global Analysis By Type (Air Transportation, Railway Transportation, Road Transportation, Sea Transportation), Application (Construction Industry, Mineral Industry, Energy and Petrochemical Industry, Water Conservancy Industry, Metal and Mining), and By Geography

According to Stratistics MRC, the Global Oversized Cargo Transportation Market is accounted for $239.78 billion in 2021 and is expected to reach $344.00 billion by 2028 growing at a CAGR of 6.2% during the forecast period. Oversized cargo is a type of cargo with extra physical capacities or mass than the utmost permitted standards or heaviness in a precise region via which transportation of cargo takes place. This transportation varies and is keeping pace according to region. Transporting oversized cargo is not feasible through standard containers or standard road vehicles, as it involves high risks and requires efficient planning and execution. It requires special equipment, machinery, escort, cargo space, advance agreements, permits, and knowledge.

About 90% of the world’s trade is transported via the sea and cargo shipping. In the first quarter of 2020, The Ministry of Commerce of China report states that freight trains between China and Europe are increased by 15% to 1,941 and transported containers by 18% to 174,000. Moreover, the transportations of parcels are now increasing with increase in global market and the market connectivity to the customer over the internet. According to International Air Transport Association (IATA), Airlines transport over 52 million metric tons of goods a year, representing more than 35% of global trade by value but less than 1% of world trade by volume. That is equivalent to $6.8 trillion worth of goods annually, or $18.6 billion worth of goods every day.

Market Dynamics:

Driver:

Rising adoption of Industry 4.0

Industry 4.0 stands for the fourth industrial revolution, where machines, raw material, and all processes will be connected, which is expected to lead to the low-cost production of high-quality products. To support Industry 4.0, oversized cargo transportation is ideal, as it offers flexible and more economical short-distance transportation. Transport industry is a network that ensures successful movement of passengers, cargoes and mails from one place to another through various modes like air, water, road, rail, pipeline, and cable. This industry is made up of heterogeneous interacting sub-system working interrelated to ensure the performance. Industry 4.0 has resulted in a significant increase in data quality and availability.

Restraint:

Global trade tensions

The shipping route accounts for a big amount of the global oversized cargo transportation volume. Though, owing to trade tensions, chiefly among China and the U.S., imports from China have become more expensive. Therefore, a demand and volume drop is expected by carriers, and they have considerably decreased capacity, especially on the Trans-Pacific route. Moreover, some sectors have faced uncertainty in investment plans and augmented cost of inputs. They have been compelled to reposition manufacturing facilities from China to regions such as South-East Asia and Eastern Europe.

Opportunity:

Rising infrastructural development at the port terminals

Development of trade passageway such as Suez Canal and Panama Canal increases waterways’ ability and permit the passage of larger vessels is advantageous for oversized cargo transportation. Growing number of countries forging free trade agreements will boost the oversized cargo transportation industry. In addition, dissimilar free trade agreements such have NAFTA, AFTA, TPSEP, and others have helped countries significantly towards strengthening their economies. These agreements not only are accountable for the growth in trade between nations but also have direct impact on the transportation industry. Furthermore, the improved specialization in the supply chain for marine trade has gathered huge development as developing countries continue to gain greater market share in the oversized cargo transportation business.

Threat:

Environmental challenges as well as challenges emerging from changing dynamics of geopolitics

Oversized cargo transportation market is facing environmental challenges as well as challenges emerging from changing dynamics of geopolitics. Along with these challenges, high cost of buying new bigger container ships and competition to fill them in saturated market has started consolidation in the transportation industry. The industry players are fighting for market share which is giving rise to pricing at their marginal cost. Transportation industry can overcome these restrains by increasing productivity in operations, and improvement in network and fleet.

The road transportation segment is expected to be the largest during the forecast period

The road transportation segment is estimated to have a lucrative growth, due to high loading capacity, technological advancements in logistics industry, improved connectivity of road transportation because of development of trade routes, and expansion of the construction industry owing to rapid development of infrastructure around the world. Road transportation is more cost-effective than other transportation modes for short distances.

The construction industry segment is expected to have the highest CAGR during the forecast period

The construction industry segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the demand for industrial and construction handling equipment, rising construction projects, and expansion of the construction industry owing to rapid development of infrastructure around the world.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to rising trade and export in the region. The Asia Pacific region consists of countries like India and China which are highly demanding the transportation of heavy equipment and construction. This region has major component manufacturers and fabricators. Additionally, increasing industrialization and transformation of infrastructure through new upcoming projects in the region requires goods and product transportation, thereby driving the demand for industrial and construction handling equipment.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period due to the increased capacity of trailers and shipping vessels and growing investments in heavy equipment and mining industries. The U.S. is estimated to account for a significant share of the market in North America, due to the expansion of the retail sector due to majority firms adopting digital business practices and adopting online business channels.

Key players in the market

Some of the key players profiled in the Oversized Cargo Transportation Market include Dextra Industry & Transport Co., Ltd., APL Co. Pte Ltd., Global Shipping Services, LLC, DB Schenker, ISDB Logistik GmbH, Amerijet International, Inc., IB Cargo S.R.L., DSV A/S, Bohnet GmbH, Lynden, Inc., Orient Overseas Container Line Limited (OOCL), STA Logistic, Panalpina World Transport (Holding) Ltd., TAD Logistic Limited, Zoey Logistics B.V., Crowley Maritime Corp., Schenker AG, and Kuehne + Nagel International AG.

Key Developments:

In February 2022, Amerijet International Airlines has partnered with SmartKargo, an innovative, comprehensive and seamlessly integrated cargo management solution. The cloud-based SmartKargo system will replace Amerijet's legacy cargo system and will provide scalability and greater efficiency as well as a streamlined user experience. SmartKargo offers a suite of fully integrated tools and solutions to support all essential cargo functions from customer management, pricing and sales, operations, and warehouse management, to loading and unloading and ramp operations.

Types Covered:
• Air Transportation
• Railway Transportation
• Road Transportation
• Sea Transportation

Applications Covered:
• Construction Industry
• Mineral Industry
• Energy and Petrochemical Industry
• Water Conservancy Industry
• Metal and Mining
• Raw Material Transportation
• Fresh Transportation
• Food Transportation

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances