NEW YORK, Dec. 21, 2023 /PRNewswire/ — The animal transportation market is expected to grow by USD 600.02 million from 2023 to 2028. However, the growth momentum of the market will be progressing at a CAGR of 5.07% during the forecast period. The market is segmented by Application (Livestock, Pets, and Others), Type (Personal and Commercial), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
A decline in fuel prices and increasing profit margins of LSPs are notably driving the market growth. Globally, there has been a significant drop in fuel prices due to oversupply in recent years. Jet fuel prices constitute 35%-45% of the operating cost of airlines; therefore, with the drop in fuel prices, airfares became more affordable, resulting in driving air passenger traffic and profit margins of airlines. The reduction in jet fuel prices, the strong performance of the airline industry, and strong economic conditions will drive the market for animal transportation by air.
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Key Highlights:
- The report recognizes the following as some of the key players in the animal transportation market: American Airlines Group Inc., Amerijet International Inc., Carry My Pet, Copa Airlines, Inc., Delta Air Lines Inc., Deutsche Lufthansa AG, DSV AS, EMO Trans Inc., GRADLYN Petshipping, Happy Tails Travel, Inc., HERFURTH GROUP, International Consolidated Airlines Group SA, Paws Pet Travel, Pets Transport, Southwest Airlines Co., SpiceJet Ltd, Starwood Pet Travel, United Parcel Service Inc., World Care Pet Transport, LLC, and China Eastern Airlines Corp. Ltd.
- The Animal Transportation Market is fragmented in nature.
- Market to observe 4.95% YOY growth in 2024.
Market Dynamics:
Trend & Challenges
The increasing adoption of the Internet of Things (IoT) in the logistics industry is an emerging trend shaping market growth. Some logistics service providers are now using the Internet of Things (IoT) to optimize asset utilization, manage fleet effectively, enable geofencing, and implement smart inventory management. The use of IoT-based technologies helps logistics companies with large fleets to prevent sudden breakdowns and enhance the efficiency of operations. By integrating connected devices like electronic log devices (ELD) with IoT, logistics operations can become even more streamlined.
Shortage of truck drivers and mandates on ELDs is a significant challenge hindering the market growth. The animal transportation market heavily relies on the trucking industry to transport animals through roads covering a distance of 300-350 miles. However, globally, there is a shortage of skilled truck drivers in the logistics industry, and this is projected to continue increasing in the foreseeable future. This scarcity of skilled truck drivers can significantly disrupt the supply chain in the worldwide animal transportation market.
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Keg Segments:
- The livestock segment is estimated to witness significant growth during the forecast period. The livestock segment comprises animals such as horses, sheep, camels, pigs, goats, cattle, and poultry. Transportation of livestock is a vital part of the meat production cycle, starting from farms to slaughterhouses.
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Animal Transportation Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.07% |
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Market Growth 2024-2028 |
USD 600.02 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.95 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 29% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
American Airlines Group Inc., Amerijet International Inc., Carry My Pet, Copa Airlines, Inc., Delta Air Lines Inc., Deutsche Lufthansa AG, DSV AS, EMO Trans Inc., GRADLYN Petshipping, Happy Tails Travel, Inc., HERFURTH GROUP, International Consolidated Airlines Group SA, Paws Pet Travel, Pets Transport, Southwest Airlines Co., SpiceJet Ltd, Starwood Pet Travel, United Parcel Service Inc., World Care Pet Transport, LLC, and China Eastern Airlines Corp. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
