Global Oversized Cargo Transportation Market 2017-2021
About Oversized Cargo Transportation
An oversized cargo is a load that exceeds the dimensions and weight limits of a normal transport. It requires extensive expertise and handling. There are certain factors that are considered as the determinants for an oversized cargo such as cargo dimensions, cargo weight, available cargo space, and acceptable pressure and stress on the loading surface. The market is segmented based on transportation type (road, rail, sea, and air) and geography (the Americas, EMEA, and APAC). The definition of an oversized cargo varies for every mode of transportation based on the dimensions and weights allowed for its transport.
Technavio’s analysts forecast the global Oversized Cargo Transportation market to grow at a CAGR of 4.41% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global oversized cargo transportation market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through the sales of oversized cargo transportation services through various modes, which includes road, rail, sea, and air. The sea market includes inland waterways and maritime shipping.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Oversized Cargo Transportation Market 2017-2021
Technavio recognizes the following companies as the key players in the global oversized cargo transportation market: DSV, Orient Overseas Container Line (OOCL), Bohnet GmbH, STA Logistic, and DB Schenker.
Other Prominent Vendors in the market are: Amerijet, APL, Dextra Industry & Transport, Global Shipping Services, IB Cargo, ISDB Logistik, Lynden, Panalpina, SNcargo, TAD Logistics, UAB Eivora, and Zoey Logistics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing developments in construction equipment industry. The developments in construction equipment are positively influencing the global oversized cargo transportation market. This is because construction equipment consists of heavy earthmoving equipment such as loaders and excavators; road construction equipment such as rollers and dozers; and concrete equipment such as mixers. In the construction equipment industry, it is estimated that more than 40% of the overall revenue is generated from heavy wheel loaders and excavators. Furthermore, it is found that the Americas and Europe has a well-established rental market for heavy earthmoving equipment.”
According to the report, one of the major drivers for this market is increasing investments in oversized cargo industry. The global oversized cargo transportation market is driven by increasing investments in the machinery and equipment industries for the developments of heavy equipment and machineries. The global construction equipment industry is expected to grow at a rate of nearly 6% and the agriculture machinery and mining equipment market at more than 8% during the forecast period. Major equipment involves a crane, clamshell, grid roller, and bulldozer among others, which require a careful handling during transportation.
Further, the report states that one of the major factors hindering the growth of this market is loss of containers during sea transportation. It is observed that nearly 10,000 containers fall from ships every year, which amounts to almost 41,000 tons' weight annually. Similarly, it is estimated that the lost merchant freight at sea amounts to nearly 1.1 million tons every year, which includes break-bulk cargo and bulk goods other than containers. In addition, there is no centralized data maintained for such losses, and the damages reports are rarely shared with line operators, and such cases are not made public to avoid legal circumstances.
DSV, Orient Overseas Container Line (OOCL), Bohnet GmbH, STA Logistic, DB Schenker, Amerijet, APL, Dextra Industry & Transport, Global Shipping Services, IB Cargo, ISDB Logistik, Lynden, Panalpina, SNcargo, TAD Logistics, UAB Eivora, and Zoey Logistics.
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