LONDON--(BUSINESS WIRE)--The global oversized cargo transportation market is expected to grow by USD 39.83 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 3%.
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The market is driven by increasing investments in the oversized cargo industry. In addition, the increased capacity of trailers and shipping vessels is anticipated to boost the growth of the oversized cargo transportation market.
Factors such as the rise in population, rapid urbanization, and high demand for food have significantly contributed to the growth of the construction, agriculture, and mining industries. This is leading to the increased procurement of equipment such as cranes, clamshells, grid rollers, bulldozers, and others that require careful handling during transportation. Such types of oversized cargo transportation require proper infrastructure. Besides, many governments across the world are taking various initiatives to boost infrastructure and transportation. For instance, in February 2020, the Government of India announced its plans to invest USD 23 billion to improve transport and logistics infrastructure and facilitate international trade for exporters and importers. Such investments are fueling the growth of the global oversized cargo transportation market.
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Major Five Oversized Cargo Transportation Companies:
BOHNET GmbH
BOHNET GmbH operates its business through a unified segment. The company offers a superlative transport solution for the transportation of oversize shipment and heavy loads by using a state-of-the-art vehicle fleet of 12 tractors and 160 combinable axle lines.
CMA CGM Group
CMA CGM Group operates its business through segments such as Container shipping, Logistics activities, and Other activities. The company offers transportation services for special, heavy and oversized cargos such as military tanks, road-building machinery, and oil drilling equipment that cannot be containerized. The company also uses Out of Gauge (OOG) and special cargo handling facilities and equipment to offer such services.
Crowley Maritime Corp.
Crowley Maritime Corp. operates its business through a unified segment. The company offers complex, high-value, heavy-lift and over-dimensional project cargo services and global logistics and international freight forwarding services to energy, engineering, procurement and construction management (EPCM), mining, and government sectors.
Deutsche Post DHL Group
Deutsche Post DHL Group operates its business through segments such as Post & Parcel Germany, Express, Global Forwarding, Freight, Supply chain, and eCommerce Parcel. The company offers logistics and full-service management for oversized cargo to industries such as oil and gas, renewables, mining, engineering, procurement and construction (EPC), and engineering and manufacturing.
DSV Panalpina A/S
DSV Panalpina A/S operates its business through segments such as Air & Sea, Road, and Solutions. The company offers tailor-made global transport and logistic solutions that include loading, transshipment, and discharging services for oversized cargo.
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Oversized Cargo Transportation Market Transportation Type Outlook (Revenue, USD Billion, 2020-2024)
- Road
- Rail
- Sea
- Air
Oversized Cargo Transportation Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- APAC
- Europe
- South America
- MEA
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