Learn About the Global Intermodal Freight Market – Hunter Women’s Chronicle
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This growth is driven by increased shipment volume and changing consumer demand.
What is intermodal freight?
Intermodal freight can be transported by truck, train, plane or any combination thereof. Intermodal can be the most cost effective option for many reasons when it comes to moving goods. Intermodal freight is the transportation of goods from one place to another, usually using shipping containers moving on different types of transportation. With intermodal freight, it becomes easier to transfer goods across oceans, railroads and roads.
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Why the Global Intermodal Freight Transportation Market is Expected to Grow
The global intermodal freight transport market is expected to grow rapidly as e-commerce and increased demand for speed, lower cost and more reliable service are changing the way goods are transported. The Intermodal Transportation Association (ITA) estimates that between 2013 and 2023, the intermodal freight transportation market will grow from US$100 billion to US$247 billion.
Why is the global intermodal freight transport market growing?
One of the main reasons for the growth of the global intermodal freight transport market is the growing number of cross-border trade agreements. Many countries are putting in place the necessary infrastructure to facilitate international trade. Some countries have even required that a significant portion of their national goods be transported by rail or truck for environmental purposes.
Who are the key players in the global intermodal freight transport market?
The market will reach $375.62 billion by 2025, with more than half of infrastructure investment going to China and India.
What are the challenges of the global intermodal freight transport market?
People are increasingly interested in buying products online, but they still want to buy from local stores. This means that people continue to shop at their favorite stores, even though shopping online is easier and cheaper for them. Another challenge in the global intermodal freight transport market is the lack of port infrastructure. There are only 27 ports in the world capable of handling container ships, which means there is plenty of room for improvement as governments strive to increase capacity.
How can we solve these challenges?
The global intermodal freight transport market holds enormous potential to transform the way companies do business. However, it still faces several challenges that need to be addressed to get there: rising costs and lack of innovation. Some important issues need to be addressed for this market to succeed, such as slow integration of technology in logistics, inefficient sharing of information and data, poorly defined processes, lack of coordination between countries and regulators, risk management challenges, etc.
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The global intermodal freight transportation market is growing rapidly and it is estimated to have reached a value of around $2.3 trillion in 2014. The market is witnessing significant expansion in the Asia-Pacific region, Chinese population doubling from 1997 to 2017, becoming the largest freight-carrying country in the world by 2017.