Vehicle Shipping Services
Over the past five years, the Vehicle Shipping Services industry has steadily improved. Industry operators use trucks, railroads and ships to transport vehicles, such as cars and motorcycles. Over the five years to 2019, low unemployment and improving income levels caused consumer spending on vehicles to drop, leading to increasing demand for vehicle shipping services. Early in the five-year period, consumers continued to release pent-up demand for vehicles that they put off during the economic downturn. However, vehicle sales slowed into the latter half of the period, which has slowed industry services. Moreover, slowing vehicle production in the United States in recent years has negatively affected demand for transport services, contributing to slow revenue growth in 2019. Over the five years to 2024, industry revenue is forecast to climb. Improving economic conditions and consumer income will boost demand for automobiles, leading to higher vehicle freight volumes and stronger revenue growth.
Operators in this industry transport finished vehicles, such as cars, trucks, vans, buses, tractors and motorcycles, regionally and nationally. This industry includes operators that transport vehicles individually or part of a fleet but excludes operators that perform automobile towing services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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