The transport services market consists of sales of transportation services by entities (organizations, sole traders and partnerships) that move people or things from one place to another for an amount or fee. Transportation services include air, rail, road, water and pipeline transportation of both goods and people. The global transport services market is expected to decline from $6176.9 billion in 2019 to $6079.9 billion in 2020 at a compound annual growth rate (CAGR) of -1.6%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $7518.4 billion in 2023. Western Europe was the largest region in the global transport services market, accounting for 31% of the market in 2019. Asia Pacific was the second largest region accounting for 29% of the global transport services market. Africa was the smallest region in the global transport services market. User centric mobility services put transportation users in control and this meant that public transportation will become personal. It changes the approach to operations and planning based on user’s preference, movements, data flows and response to disruption. Smartphones give users access to more travel options and real time status on par with any transportation services operator. Ride sharing companies like BlaBlaCar enabled by digital technology are challenging and changing established business models and players. It is also clearly visible in the taxi industry where smartphone users can book a cab in advance and secure a fare of their choice using apps such as Uber, Lyft, Juno, Gett, Ola, GetAround, Carma Pooling App and Waze Carpool
The major players in the global transport services market are China National Railway Group, United Parcel Service, United States Postal Service, Deutsche Post DHL Group, FedEx Corporation
The countries covered in the global transport services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The global transport services market is segmented:
1) By Type: Air Transport, General Transport, Pipeline Transport, Rail Transport, Transit And Ground Passenger Transport, Truck Transport, Warehousing And Storage, Water Transport
2) By Purpose: Commuter Travel, Tourism And Leisure Travel, Business Travel, Cargo And Freight Travel, Shipping And Delivery Travel Subsegments Covered: Passenger Air Transport, Chartered Air Transport, Air Cargo Services, Sightseeing Transport & Support Activities For Transport, Couriers And Messengers, Postal Services, Crude Oil Pipeline Transport, Natural Gas Pipeline Transport, Refined Petroleum Products Pipeline Transport, Others - Pipeline Transport, Passenger Rail Transport, Rail Freight, Commuter Rail And Public Bus Services, Taxi And Limousine Services, School And Employee Bus Services, Charter Bus Services, Others - Transit And Ground Passenger Transport, General Freight Trucking, Specialized Freight Trucking, General Warehousing And Storage, Refrigerated Warehousing And Storage, Specialized Warehousing And Storage, Farm Product Warehousing and Storage, Deep Sea, Coastal, And Great Lakes, Inland Water Transport