Just to get an idea about the vastness of the transportation industry, in the year 2019, this industry was worth $6.1 trillion. Western Europe was the leader in this industry as the largest global transportation market was present there. Meanwhile, the Asia-Pacific region was the runner-up with 29% share of the transportation market. Several countries of the African continent lack basic infrastructure and thus, they have a small share in the global transportation services market. The law and order situation in Africa isn’t good either and hence, this affects the development of those countries. In the current era, this industry is being upgraded with technological advancement. Several global transportation companies have adopted the latest technological gadgets to compete in the highly competitive market. Global car hailing apps, like Uber and Careem are worth millions and billions of dollars. As the pandemic directly hit several countries in different economic areas, the transportation industry has also been badly hit by COVID-19 due to domestic and global lockdowns in various countries across the world. Due to the pandemic, it is estimated that the transportation industry will lose over $100 billion in current year and the loss could be more than this estimate. In this article we are discussing some of the biggest transportation companies in the world as listed in a post by Insider Monkey.
China Post Group tops the list of the largest transportation companies. According to sources in the year 2019, the total revenue of the company was US $89,347 million while US $4,441 were total profits during the same year. The company employs around 900,000 people and has over US $1.5 trillion assets. China Post Group was founded in the year 1997 and the Chinese government owns it. The company responsible for management of operation of China postal service.
China Merchants Group ranks second on the list with total assets worth US $277,918 million. The company’s revenue in the year 2019 was US $ 49,126 million and it earned a profit of US $5,233 million in the same year. The company has a total workforce of 1.4 billion people. Chinese government owns China Merchants Group. The Group provides a wide range of services including logistics support, freight forwarding and port transportation. If you want to learn more about the other transportation companies, check out the information at 15 Largest Transportation Companies In The World.