Oversized Cargo Transportation Market is booming in upcoming years due to increase in trade policies across the globe, environmental issues and expansion of the construction industry.
Albany, NY — (SBWIRE) — 04/09/2019 — Oversized or overweight, or heavy cargo, is a kind of cargo with additional physical capacities or mass than the maximum permitted standards or weight in a specific region via which transportation of cargo takes place. The transportation through this heavy cargo is termed as oversized cargo transportation, which varies and is regulated according to region. Oversized cargo transportation requires special equipment, machinery, escort, cargo space, advance agreements, permits, and knowledge.
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Rapid industrialization and increasing environmental issues are expected to accelerate the oversized cargo transportation market during the forecast period. Increase in trade policies across the globe and expansion of the construction industry are anticipated to accentuate the oversized cargo transportation market during the forecast period. Increase in trade regulations by governments of various countries and significant import and export are projected to boost the oversized cargo transportation market during the forecast period. However, higher capital investments and maintenance of overall oversized cargo transportation are projected to restraint the market during the forecast period.
The global oversized cargo transportation market can be segmented based on application, type, and region. In terms of application, the oversized cargo transportation market can be bifurcated into construction industry, mineral industry, petrochemical industry, and others. The construction industry segment leads the oversized cargo transportation market. The segment is projected to maintain its leading position in the oversized cargo transportation market. This is due to expansion of the construction industry owing to rapid development of infrastructure around the world.
Based on type, the oversized cargo transportation market can be classified into road transportation, rail transportation, sea transportation, and air transportation. The road transportation segment accounts for a major share of the market due to surge in transportation in construction industry via this segment. Road transportation is more cost-effective than other transportation modes for short distances, which is expected to lead to the higher share of the road transportation segment of the market during the forecast period.
In terms of region, the oversized cargo transportation market can be segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific accounts a prominent share of the global oversized cargo transportation market. The market in the region is expected to expand at a significant pace during the forecast period. A major factor driving the market in the region is rising trade and export in the region. Globally, China dominates the components and goods export. This is anticipated to boost the oversized cargo transportation market in the country, thereby boosting the market in the region. Additionally, increasing industrialization and transformation of infrastructure through new upcoming projects in the region requires goods and product transportation, thereby driving the demand for industrial and construction handling equipment. This is another key factor that is likely to propel the oversized cargo transportation market during the forecast period.
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Prominent players operating in the global oversized cargo transportation market include DSV, Spedition Bohnet GmbH, Amerijet International, DB Schenker, APL, Crowley Maritime Corporation, Orient Overseas Container Line Limited., Schumacher Cargo Logistics., IB Cargo,STA Logistic, Dextra Group., ISDB Logistik GmbH, TAD Group, Zoey Logistics, Global Shipping Services, LLC, PANALPINA WORLD TRANSPORT (HOLDING) LTD., sncargo, Expeditors International, Lynden, and R Group.
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