NEW YORK, June 3, 2021 /PRNewswire/ -- The global drayage services market is set to grow by USD 2.90 billion during 2021-2025, according to the latest market research report by Technavio. The market is expected to witness a 1.49% YOY growth in 2021 and register a CAGR of 2% during the forecast period.
The drayage services market report encapsulates not only the industrials industry value chain analysis but also features overall validation techniques employed for deriving the most accurate data insights. Request a Free Sample Report
Read the 120-page report with TOC on "Drayage Services Market Analysis Report by End-user (Electronics and electrical, Food and beverage, Consumer goods and retail, and Others), Geography (APAC, North America, Europe, MEA, and South America), and the Segment Forecasts,2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions.
The drayage services market is driven by the growth of the manufacturing industry. In addition, rising seaborne trade is anticipated to boost the growth of the drayage services market.
Countries across the world are observing an increase in the manufacturing of electronics, food, rubber and plastic products, textiles, pharmaceuticals, basic metals, and apparel. Many developing countries are undertaking various initiatives and reforming their policies to improve the ease of doing business. For instance, the Indian government is providing a capital subsidy of up to 25% for ten years to encourage the manufacture of electronics in the country. Such initiatives are attracting electronic manufacturers to their manufacturing plants in the country. The growth in the manufacturing industry is leading to an increase in the production of various types of products. This is increasing the demand for drayage services, which is driving the growth of the market.
Drayage Services Market End-user Outlook (Revenue, USD Bn, 2020-2025)
Electronics and electrical - size and forecast 2020-2025
Food and beverage - size and forecast 2020-2025
Consumer goods and retail - size and forecast 2020-2025
Others - size and forecast 2020-2025
Drayage Services Market Geography Outlook (Revenue, USD Bn, 2020-2025)
APAC - size and forecast 2020-2025
North America - size and forecast 2020-2025
Europe - size and forecast 2020-2025
MEA - size and forecast 2020-2025
South America - size and forecast 2020-2025
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