Global Multimodal Transport Market: Introduction
Multimodal transport is a conjunction of two or more than two modes of transport services that are used to transport goods and freight from one place to another. Multimodal transport is also referred to as combined transport, as it uses several modes of transport in combination such as rail, land, water, and air to transport the product from source to destination. Multimodal transport also uses one transport bill of lading for its services and operation and optimizes lead times, reduces inventory costs, and regulates freight level costs.
Global Multimodal Transport Market: Competitive Landscape
- In 2018, C.H. Robinson entered into a five-year contract with Austal, an Australia-based Shipbuilding company, for expert freight forwarding and customs clearance services in order to fulfill Austal’s logistics and supply chain needs
DB SCHENKER was founded in 1872. It’s presently headquartered in Essen, Germany. It is a leading global player in the field of logistics. It providers logistics, which support trade and industry in the exchange of goods via land, air, and water transport, contract logistics, and supply chain management. The company has global presence through more than 2,000 locations and owns 750 warehouses across the globe.
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KUEHNE + NAGEL
Established in 1890, KUEHNE + NAGEL is presently based in Schindellegi, Feusisberg, Switzerland. KUEHNE + NAGEL is major global company that provides logistics services to diverse sectors including aerospace, FMCG, industrials, automotive, high tech, oil & gas logistics, retail, and pharma & healthcare. The company deals with value-added segment with IT-based integrated logistics solutions. KUEHNE + NAGEL operates with through 1300 offices located across 100 countries worldwide.
Founded in 2008, GEODIS is presently headquartered in Levallois-Perret, France. GEODIS is a leading global player operating in the field of transport and logistics. It has major presence in Europe. The company is a part of SNFC Logistics, a business line of SNFC Group. GEODIS has presence in 120 countries, globally
Global Multimodal Transport Market: Dynamics
Rise proportion of trade across the global drives multimodal transport market
Global trade has been expanding significantly for the last few years, thereby boosting and transforming the global economy completely. Presently, on a global scale, approximately 1/4th of total global production is exported. Moreover, budding bilateral trade and revised trade policies and customs between countries around the world have led to an increase in trade volume and proportion, which is a major contributor to economic growth across the world. High volume of international trade has been witnessed in countries such as China, the U.S., those in the European Union, Japan, South Korea, India, Saudi Arabia, and those in ASEAN. This has fueled the demand for multimodal transport.
The transition and evolution of global transportation is primarily due to expansion of manufacturing and agriculture industries, which in turn fuels the demand for multimodal transport to carry goods and material from one place to another. These factors are primarily projected to propel the multimodal transport market in the near future.
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Rise of e-commerce
E-commerce plays very key role in offering freight customers new options to boost their economic growth. Internet-based retailing and online shopping is witnessing significant expansion in majority of countries across the globe, owing to an increase in speedy internet access, which has led to rising preference toward e-tailing among consumers. Significant expansion of online shopping around the world and hassle-free shopping has led to a boom in demand for door-to-door transport services in order to fulfill shipment requirements, which in turn is anticipated to propel the multimodal transport market during the forecast period.