The global drayage services market report assesses the market size forecasts, and potential growth opportunities across Expedited drayage, Inter-carrier drayage, Intra-carrier drayage, Pier drayage, Shuttle drayage, Door-to-door drayage services, and other types. Further, the drayage service market demand across Electronics and electrical, Food and beverages, Consumer goods and retail, and other industries are included.
Introduction to Global Drayage Services Market, 2022
The drayage Services market is one of the vital segments of the logistics industry with over 3.45% growth (CAGR) anticipated over the forecast period. Increasing end-user adoption of drayage services, drive towards expedited services, investments in technological advancements including digital platforms, e-Commerce market growth, global trade volume recovery, and rapid industrialization in developing countries are shaping the market outlook.
The drayage services market is quickly gaining prominence in the shipping and logistics industry. The market size of the drayage services that carry freight over a short distance stood at USD 18.2 billion in 2022. Different drayage services such as expedited services, movement of goods between different carriers, intra-carrier drayage, pier drayage, and shuttle and door-to-door drayage services continue to gain wide acceptance among consumers, driving the market outlook. The strong growth potential of the services industry is encouraging the foray of a large number of small-scale players focusing on lowering costs, expediting the process, and offering world-class customer support.
The market growth is driven by the positive influence of e-commerce industry growth, technological advancements, continued trade and economic development, business expansion in developing countries, and wide applications adopting drayage services. On the other hand, challenges associated with the negative impact of COVID-19 conditions led to the bankruptcy of several small carriers, fluctuating drayage service costs, and operational challenges that restricted the market growth.
Global Drayage Services Market Size Outlook, 2022-2028
The global Drayage services market size stood at $18.2 million in 2022. The market is poised to register a robust growth outlook to reach $22.4 million by 2028.
Drayage Services Market Report Highlights
The research identifies major types including Expedited drayage, Inter-carrier drayage, Intra-carrier drayage, Pier drayage, Shuttle drayage, and Door-to-door Services. Of these Inter-carrier drayage services dominate the global markets, with the highest market share.
Among different applications using Drayage Services, the Consumer goods, and retail sector is the dominant user for Drayage Services. During 2022, the application segment accounted for the dominant market share. Further, industrial uses of Drayage Services including wide adoption in the Electronics and electrical sector, Food and beverages industry, and others present strong market scope for companies operating in the industry.
Among geographies, Asia Pacific remains the dominant user of Drayage Services, with over 37.2% market share. The dominant share of the region is largely driven by huge consumption volumes in China, India, South East Asia, and other developing markets. The shift of production base from developed countries to these low-cost Asian markets, driven by the low-cost advantage and proximity to large consumption population drives the cargo volumes, thereby supporting the drayage services market.
Market Trends- Technology advancements in the drayage services market
Ongoing investments in the drayage services market encourage technological advancements in the industry. Technological developments in visibility, execution, on-demand facilities and solutions, pickup efficiency, and use of advanced software services such as software-as-a-service (SaaS) drayage platforms are identified.
Further, improved connectivity, efficient management of blocking-and-tackling drayage services, better data management, promote transparency in operations for trucking companies, freight forwarders, brokers, consumers, and others through advanced platforms and other developments are being focused on.
New technologies such as the Internet of Things (IoT), cloud computing, automation, and data analytics are being incorporated into the industry. In addition, the use of artificial intelligence to forecast demand conditions, optimization of supply chains, inventory management, shipping accuracy, customer management, efficient transport management system, and others are being observed.
Venture capitalists, small investors, and others are largely investing in the drayage services industry. Embracing the digital revolution, and switching to automation remains the main focus of most start-up companies and investors. Shipping line bookings, optimization and tracking loads, intelligent transport management, and port management are also key investment areas.
Scope
Types
Expedited drayage
Inter-carrier drayage
Intra-carrier drayage
Pier drayage
Shuttle drayage
Door-to-door
Applications
Electronics and Electrical
Food and beverage
Consumer goods and retail
Others
Companies
Trending Topics
Chapter 1- Introduction to Global Drayage Services Market, 2022
Summary
Drayage Services Industry Outlook, 2020 – 2028
Abbreviations
Market Scope and Report Segmentation
Sources and Research Methodology
Chapter 2- MACROECONOMIC & DEMOGRAPHIC OUTLOOK
GDP Outlook, 2010 – 2030
Population Outlook of Select Countries, 2010 – 2030
Chapter 3- The Future of DRAYAGE SERVICES MARKET
Industry Panorama
Companies Profiled in the Report
Market Dynamics
Strong growth in e-commerce business
Technology advancements in drayage market
Recovering manufacturing industry post COVID-19
Growing demand for expedite delivery from wide end user industries
Rapid Industrialization Rate in Emerging Markets
Market Challenges
Low efficiency and underinvestment challenges
High operational costs involved in drayage industry
Regional Analysis
Chapter 4- MARKET TRENDS IN DRAYAGE SERVICES TYPES
Largest Types
Expedited Drayage Services
Inter-Carrier Drayage Services
Intra-Carrier Drayage Services
Pier Carrier Drayage Services
Shuttle Drayage Services
Door-to-door Drayage Services
Chapter 5- MARKET TRENDS IN END USER INDUSTRIES OF DRAYAGE SERVICES
Electronics and electrical Industry
Food and Beverages Industry
Consumer goods and retail Industry
Other Industries
Chapter 6- GLOBAL DRAYAGE SERVICES MARKET SIZE OUTLOOK ACROSS COVID-19 RECOVERY SCENARIOS
Low Growth Scenario
Reference Case Scenario
High Growth Case Scenario
Chapter 7- NORTH AMERICA DRAYAGE SERVICES MARKET OUTLOOK AND OPPORTUNITIES
North America Drayage Services Market Size Forecast, 2022- 2030
Trends and Opportunities
Inter-carrier drayage services dominate the North American Market
Electronics and electrical industry is the leading consumer of drayage services in North America
The US dominates the North American Drayage Services Market
Market Outlook by Country
United States
Canada
Chapter 8- EUROPE DRAYAGE SERVICES MARKET OUTLOOK AND OPPORTUNITIES
Europe Drayage Services Market Forecasts, 2022- 2030
Trends and Opportunities
Inter-Carrier Drayage Services dominates the European Market
Consumer Goods and Retail is the leading consumer of Drayage Services in Europe
The UK dominates the European Drayage Services Market
Market Outlook by Country
Germany
United Kingdom
France
Spain
Italy
Other Europe
Chapter 9- ASIA PACIFIC DRAYAGE SERVICES MARKET OUTLOOK AND OPPORTUNITIES
Asia Pacific Drayage Services Market Forecasts, 2022- 2030
Trends and Opportunities
Inter-Carrier Drayage Services dominate the Asia Pacific Market
Consumer Goods and Retail Segment is the leading consumer of Drayage Services in Asia Pacific
China dominates the Asia Pacific Drayage Services Market
Market Outlook by Country
China
India
Japan
South Korea
Australia
Other Asia Pacific
Chapter 10- LATIN AMERICA DRAYAGE SERVICES MARKET OUTLOOK AND OPPORTUNITIES
Latin America Drayage Services Market Size Forecasts, 2022- 2030
Trends and Opportunities
Inter-Carrier Drayage Services dominate the Latin American Market
Consumer Goods and Retail Industry is the Leading Consumer of Drayage Services in Latin America
Mexico dominates the Latin America Drayage Services Market
Market Outlook by Country
Mexico
Brazil
Colombia
Argentina
Rest of Latin America
Chapter 11- MIDDLE EAST AND AFRICA DRAYAGE SERVICES MARKET OUTLOOK AND OPPORTUNITIES
Middle East Drayage Services Market Size Forecast, 2022- 2030
Africa Drayage Services Market Size Forecast, 2022- 2030
Trends and Opportunities
Inter-Carrier Type Drayage Services dominates the Middle East and Africa Market
Consumer Goods and Retail Industry is the leading consumer of Drayage Services in Middle East and Africa
Saudi Arabia dominates the MEA Drayage Services slices Market
Market Outlook by Country
Saudi Arabia
United Arab Emirates (UAE)
South Africa
Rest of Middle East and Africa
Chapter 12- DRAYAGE SERVICES COMPANIES
Boa Logistics LLC
Evans Delivery Co. Inc.
Hub Group Inc.
ITS ConGlobal
J.B. Hunt Transport Services Inc.
Knight-Swift Transportation Holdings Inc.
PLS Logistics
RoadOne IntermodaLogistics Inc.
Schneider National Inc.
XPO Logistics Inc.
Chapter 13- APPENDIX