Top 50 Global Freight Companies Persevere Amid Trade Shift
World's Largest Transportation and Logistics Providers Operating in a Volatile Business Environment
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The world’s largest transportation and logistics providers have been operating in a highly volatile business environment this year as tariffs and shifting trade policies have altered international freight flows.
Despite the uncertainty caused by this ongoing trade realignment, the companies that appear on the 2025 Transport Topics Top 50 Global Freight Companies list have kept supply chains running throughout the world.
This annual ranking, produced in cooperation with , provides an overview of the largest freight transportation providers across all geographies and all modes of transportation, including truck, parcel, rail, ocean and air, as well as non-asset-based third-party logistics.
The updated Top 50 ranking is based on full-year freight revenue in 2024, so it does not reflect the impact of this year’s trade policy changes, but it does reveal that a majority of these companies managed to grow their businesses during the prior year.
Unsurprisingly, the e-commerce fulfillment and logistics business of Amazon.com Inc. once again tops the list. The world’s largest online retailer reported more than $156 billion in net sales from its third-party seller services in 2024, up from $140 billion a year earlier.
Meanwhile, package delivery giant UPS Inc. moved past FedEx Corp. for No. 2 on the list after falling behind its rival the prior year. UPS generated more than $91 billion in freight-related revenue last year, compared with $87 billion for FedEx.
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The U.S. Postal Service remains No. 4 with annual revenue remaining flat at $79 billion.
Germany-based parcel and warehousing provider DHL Group, at No. 5, is the highest-Âranked company on the list based outside the United States.
Checking in at No. 6 is France-based CMA CGM, which became the top ocean carrier on this year’s list after moving ahead of No. 7 Maersk.
A notable newcomer to this year’s list is Walmart, which debuts at No. 32. The reÂtailer, which operates the largest private trucking fleet in North America, also has expanded its store-to-door parcel delivery service and provides e-commerce fulfillment services for sellers using its Walmart Marketplace platform.
Recent and planned mergers and acquisitions have the potential to reshape the Top 50 in the future.
The planned merger of Class I railroads Union Pacific and Norfolk Southern, announced in July, would create a transcontinental freight railroad and combine the Nos. 14 and 26 companies on this list if approved.
In April, Danish freight forwarding and logistics company DSV, which ranks No. 15 on this list, completed its acquisition of DB Schenker from No. 49 Deutsche Bahn.
North America’s largest trucking and third-party logistics providers once again rank among the biggest freight transportation companies in the world.
Freight brokerage giant C.H. Robinson moved down one spot to No. 21 this year with 2024 freight revenue of $16 billion, flat from the previous year.
Intermodal provider J.B. Hunt Transport Services also slipped one position, to No. 27, after its annual revenue dipped 6% to just more than $12 billion.
Freight forwarder Expeditors International, however, moved up two spots to No. 29 with full-year revenue of $10.6 billion, up 14% from the prior year.
Less-than-truckload carrier XPO ranks No. 39 on this year’s list after growing its revenue to more than $8 billion in 2024.
Next up is truck leasing and transportation firm Ryder System, whose logistics and dedicated operations rank No. 40 on the list.
Knight-Swift Transportation, the industry’s largest truckload carrier, checks in at No. 42 with more than $7.4 billion in annual revenue.
Other North American trucking businesses that appear on the Top 50 include TFI International at No. 43, Landstar System at No. 47 and LTL hauler Old Dominion Freight Line at No. 48. Truckload carrier Schneider just cracked the list at No. 50.
This year’s Top 50 features 11 companies that generate freight revenue primarily from parcel delivery services. The list also contains 11 freight rail companies, 10 ocean carriers, 10 third-party logistics providers and eight truck transportation companies.
Among this year’s Top 50 companies, 21 are based in North America, with 18 headquartered in the United States and three in CanÂada. China, Germany and Japan are each home to five Top 50 companies.
The revenue information on this list comes from company reports and estimates by SJ Consulting Group for freight transportation services. All revenue figures are listed in U.S. dollars. Currency conversions are based on the average exchange rate in 2024.
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