In this report, Technavio covers the market outlook and growth prospects of the global oversized cargo transportation market for 2017-2021. Based on transportation type, the market is divided into road, rail, sea and air segments.
|An oversized cargo is a load that exceeds the dimensions and weight limits of a normal transport and requires extensive expertise and handling. The global oversized cargo transportation market is growing because of an increasing development of industries such as machinery and equipment along with increasing investment in infrastructures.|
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Technavio’s research study segments the global oversized cargo transportation market into the following regions:
Oversized cargo transportation market in the Americas
“The Americas dominate the oversized cargo transportation market, projected to contribute both the highest revenue and maximum incremental growth over the forecast period. The US is the major contributor in the region, owing to a large amount of heavy equipment manufacturing occurring in the country,” says Shakti Jakhar, a lead analyst at Technavio for transportation and distribution research.
Multiple big companies such as Caterpillar and Kubota Industrial Equipment in the Americas manufacture heavy equipment and agricultural machinery, which will generate a high demand for transportation of heavy cargo in the country. Also, advances in technology such as accessible technologies used for location tracking, identification, and surveillance drive the oversized cargo transportation market in the Americas.
Oversized cargo transportation market in EMEA
The oversized cargo transportation market in EMEA was valued at USD 59.81 billion in 2016 and will grow steadily during the forecast period, owing to the booming construction and manufacturing industries which require heavy equipment to be transportation facilities.
In Germany alone, machinery and equipment manufacturing companies generated a revenue of more than USD 235 billion in 2016, and has set up high-quality infrastructure for transportation of heavy equipment and machinery. Also, vendors such as Fagioli are focusing on effective turbine transportation by analyzing and calculating the infrastructures before transporting the turbines, which is also boosting the market growth.
Oversized cargo transportation market in APAC
“APAC is the fastest-growing sector of the oversized cargo transportation market, projected to showcase a CAGR of nearly 5% over the forecast period. The increased investments towards infrastructure development is one of the key factors driving the growth of the market segment,” says Shakti.
Some countries are also involved in the development of special vehicles to carry heavy and oversized cargo. For instance, Kuehne + Nagel developed a project in Vietnam to transport heavy consignments weighing more than 100 tons and carrying hazardous materials by carefully understanding the infrastructure requirements for the transport.
The top vendors in the global oversized cargo transportation market highlighted in the report are:
- Orient Overseas Container Line
- STA Logistic
- DB Schenker
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