Drayage Services Market Size to Grow by USD 2.90 billion with 38% of the contribution from APAC and the highest share from the Electronics and Electrical Segment - Technavio

NEW YORK, Aug. 23, 2022 /PRNewswire/ -- The latest market analysis report titled Drayage Services Market by End-user and Geography - Forecast and Analysis 2021-2025 has been recently added to Technavio. The report predicts the market to witness an accelerating growth momentum at a CAGR of 2%. Technavio categorizes the global drayage services market as a part of the global logistics market. Our report provides extensive information on the value chain analysis for the drayage services market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

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Drayage Services Market Dynamics

Key Driver: The growing manufacturing industry is one of the key factors expected to influence the market growth during the forecast period. Manufacturers and other stakeholders are opting for safer modes of transportation for materials and consumer goods, which is increasing the demand for drayage services. Such factors are likely to fuel the growth of the drayage services market growth.

Key Trend: The growing e-commerce market is another factor supporting the drayage services market share growth. E-commerce is a fast-growing market and has a strong impact on retail as well as distribution channels. Growing disposable incomes and urbanization, especially in European and Asian countries, are accelerating the growth of the retail market, which is resulting in a well-organized retail sector. The growth of the e-commerce and retail sectors is expected to increase the competition in the global drayage services market.

Key Challenge: The shortage of drayage drivers will be a major challenge for the drayage services market during the forecast period. Products in this supply chain need to be delivered to different destinations within a short duration. Consequently, a streamlined supply chain is required to ensure customer satisfaction. The widening gap between the demand for and supply of skilled drivers will affect the global drayage services market negatively. The industry-wide shortage of drayage drivers may result in low vehicle utilization and missed revenue opportunities. Hence, the shortage of skilled drivers will pose a challenge to the market.

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Drayage Services Market Segmentation Highlights

• End-user
• Electronics And Electrical: The drayage services market share growth by the electronics and electrical segment will be significant during the forecast period. Production has shifted from high-cost to low-cost countries, such as China, which has become an important hub for the high-volume production of electronic equipment. The progressive growth in the electronics industry will result in more inter-country trade, which, in turn, will drive the demand for drayage services in this segment.
• Food And Beverage
• Consumer Goods And Retail
• Others
• Geography
• APAC: 38% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for drayage services in APAC. Market growth in this region will be faster than the growth of the market in other regions. With the rapid economic growth in APAC, the per capita income of the people has increased dramatically over the past few years, which has led to an increase in the purchasing power of consumers, thereby leading to higher sales in the e-commerce sector, which, further will drive the market growth.
• North America
• Europe
• MEA
• South America

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Drayage Services Market Vendor Analysis

The drayage services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. This statistical study of the drayage services market encompasses successful business strategies deployed by the key vendors. The drayage services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Companies such as Boa Logistics LLC offers drayage services that include Trucking of containerized cargo from port to port, The cargo might be taken from a port to a rail yard to begin the next leg of its journey, The cargo may be trucked to its ultimate location.

Top Drayage Services Market Players are:

• 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.

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Drayage Services Market Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist drayage services market growth during the next five years
• Estimation of the drayage services market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the drayage services market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of drayage services market vendors

Related Reports:

Fine Arts Logistics Market by End-user and Geography - Forecast and Analysis 2022-2026

Public Warehousing Market by Type and Geography - Forecast and Analysis 2022-2026

Table of Content

Executive Summary

Market Landscape

• Market ecosystem
• Impact of COVID-19 on the industrials sector
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five Forces Analysis
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Electronics and electrical - Market size and forecast 2020-2025
• Food and beverage - Market size and forecast 2020-2025
• Consumer goods and retail - Market size and forecast 2020-2025
• Others - Market size and forecast 2020-2025
• Market opportunity by End-user

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2020-2025
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Competitive scenario
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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