Forecasts for growth till 2027
The development of volumes in the transport markets until 2027 has been analysed in a new report published by the consultancy Research & Markets, headquartered beside the Guinness Brewery in Dublin (Ireland).
Amid the current pandemic, the global market for seafreight forwarding estimated at 64 million teu in the year 2020, is projected to reach a revised size of 72 million teu by 2027, growing annually 1.7% over the analysis period 2020-2027.
The respective market in the USA is estimated at 17.3 million teu in 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 13.8 million teu by 2027.
Within Europe, Germany is forecast to grow at approximately 0.6% every year until 2027. In the global transportation & warehousing segment, USA, Canada, Japan, China and Europe will drive the 1.7% annual growth rate estimated for this segment.
These regional markets accounting for a combined market size of 10.6 million teu in 2020, will reach a projected size of 11.9 million teu by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India and South Korea, the market in Asia-Pacific is forecast to reach 9.6 million teu by 2027, while Latin America will grow by 2.8% per year until 2027. (cd)