Oversized Cargo Transportation Market in Americas 2018-2022
About Oversized Cargo Transportation
Oversized cargo transportation refers to moving overweight and bulky loads that exceed the authorized weight limits and dimensions from a point of origin to a desired destination. Transporting oversized cargo is not feasible through standard containers or standard road vehicles, as it involves high risks and requires efficient planning and execution.
Technavio’s analysts forecast the oversized cargo transportation market in the Americas to grow at a CAGR of 4.46% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the oversized cargo transportation market in the Americas for 2018-2022. To calculate the market size, the report considers the revenue generated from the oversized cargo transportation.
Technavio's report, Oversized Cargo Transportation Market in Americas 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Oversized Cargo Transportation Market in Americas 2018-2022
Technavio recognizes the following companies as the key players in the oversized cargo transportation market in the Americas: Amerijet International, BDP International, Crowley Maritime Corporation, DB Schenker, DSV, and Expeditors International.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Developments in construction equipment industry. The growth in manufacturing facilities and developments in the construction equipment industry are positively impacting the oversized cargo transportation market in Americas. Construction equipment consists of heavy equipment such as loaders and excavators; road construction equipment such as rollers and dozers; and other concrete equipment such as mixers.”
According to the report, one of the major drivers for this market is Growing investments in heavy equipment and mining industries. The oversized cargo transportation market in Americas is experiencing growth due to the rise in investments in the heavy equipment and mining industries. In the US, Georgia and Michigan are the major hubs for industrial equipment manufacturing. The global construction equipment manufacturing industry is expected to grow at a rate of more than 5%, and the mining equipment market is expected to grow more than 6% during the forecast period. The US and Canada are considered as developed markets in construction equipment, as both countries have a sound market position on a global scale. As of 2016, the construction sector worldwide was contributing more than 10% to the global GDP, whereas the US alone accounted for more than 3% contribution to the global GDP.
Further, the report states that one of the major factors hindering the growth of this market is Country-specific regulations and delivery route challenges. The selection of an optimal delivery route is the key challenge involved in the transportation of oversized cargo. Such cargoes have odd shapes and parameters that need to be considered primarily while determining the route or developing the project plan. Route planning is a crucial task in such type of cargo transportation not only to ensure that time limits and safety aspects are met but also to be prepared and aware of infrastructural challenges in advance, such as road deterioration and weather changes. Route planning includes identification of permissible routes for oversized cargo in accordance with cargo parameters and related legal restrictions. The next step in route planning is identification of cost factors to decide an economical route.
Amerijet International, BDP International, Crowley Maritime Corporation, DB Schenker, DSV, and Expeditors International.
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