A modest growth has been witnessed by the global transportation services market over the past few years and this momentum is expected to carry on into the future with the industry set to increase at a compound annual growth rate (CAGR) of 2.5% over the next five years to be worth a value of $2,735 billion by 2017.
Growth within the global transportation services market is expected to be driven by government infrastructure investments, improved economic conditions, rise in industrial production, and mining activities.
A tightening infrastructure capacity and increased fuel prices, decline in import and export activity, slowdown of global trade, and vehicle regulations are key challenges the industry still has to face.
The global transportation services industry consists of revenues generated from freight transportation by road, rail, air, and marine modes.
Road freight is the largest segment of the global transportation services industry, accounting for 74.2% of the industry's total value.
North America dominates the global transportation services industry, accounting for a share of 42.3%, and is expected to continue this dominance over the next five years. A strong economy is expected to fuel the demand for freight growth in Canada and other nations.
For more information on the global transportation services market, see the latest research: Global Transportation Services Market Report
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