The ‘Colombia Transportation Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Colombia transportation market, assessing the market on the basis of its segments like services, destination, and end use.
Colombia Transportation Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 7.30%
The Colombia transportation market growth is being driven by increasing population and rapid economic growth, leading to a heightened demand for various modes of transportation for people and goods. With rising disposable income, there is a greater demand for a vast range of consumer products throughout the nation that use transportation for distribution.
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Urbanisation and development of rural regions are further surging the demand for smooth movement of products and people domestically. As more people move to urban areas and urban population continues to rise, transportation needs are increasing for smooth movement of people and products. The growing workforce is also aiding the Colombia transportation market expansion by increasing the demand for public transportation.
Rising investments by the government towards improving transportation infrastructure is anticipated to provide lucrative opportunities to the growth of the transportation market in Colombia over the forecast period. The government is investing in expansion of roadways, construction of airports, and modernisation of railways, thereby increasing the ease of travel and transportation.
Meanwhile, growing trade of Colombia with other countries in the region is increasing international transportation requirements and augmenting the Colombia transportation market development. The exports of the country include coal, coffee, and oil, while imports include machinery, chemicals, and vehicles. Increasing trade is contributing to a rising demand for freight transportation services.
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Colombia Transportation Industry Definition and Major Segments
Transportation is the intentional movement of people, products, or animals from one location to another, using modes such as air, road, rail, or ship, through aircrafts, cars, trucks, trains, or other vehicles. The suitability of mode of transportation depends upon the cargo being moved and the distance involved, with multiple models being used for end-to-end transportation.
Based on services, the market is divided into:
- Air Transportation
- Road Transportation
- Rail Transportation
- Ship Transportation
- Pipeline Transportation
- Others
On the basis of destination, the market is bifurcated into:
- Domestic
- International
Based on end use, the market is segmented into:
- Aerospace
- Construction and Mining
- Agriculture, Fishing, and Forestry
- Distributive Trade
- Oil and Gas
- Manufacturing
- Pharmaceutical and Healthcare
- Others
Colombia Transportation Market Trends
Among the key trends impacting the Colombia transportation market are the growth of the pharmaceutical and healthcare sector. As the government makes more efforts to provide adequate healthcare across the country, the pharmaceutical and healthcare end uses of transportation are rising. Apart from emergency care, transportation services are utilised for non-emergency care and to support supply chains for pharmaceutical products throughout the nation.
Rising popularity of e-commerce in Colombia is also anticipated to boost the demand for transportation services, particularly for last-mile connectivity. With increasing penetration of the internet and smart devices, online sales are growing, resulting in a greater demand for adequate transportation to deliver purchased products to customers. Business-to-business online purchases are also increasing, further boosting the need for reliable transportation of bulk purchased goods.
Advancements in technology are also providing impetus to the Colombia transportation market by facilitating easier access to transportation and safer travelling. Real-time access and navigation services such as GPS help individuals in movement and industry users in tracking shipments. Meanwhile, artificial intelligence is being implemented to identify optimum transportation routes and modes for different types of cargo. New modes of transportation such as electric vehicles and autonomous vehicles, supported by latest technologies, are also witnessing a growing demand in Colombia due to their cost savings and sustainability.
Key Market Players
The major players in the Colombia transportation market report are Deutsche Post DHL Group, Kuehne+Nagel, Coltanque, CEVA Logistics, Naviera Fluvial Colombiana S.A., Servientrega SA, Inter Rapidísimo, and Transportes Sanchez Polo, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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