Road Haulage Market to Grow with a CAGR of 6.19% through 2028
Increasing demand for goods and services and the
expansion of manufacturing and industrial activities are likely to drive the market
in the forecast period.
According to TechSci Research report, “Road Haulage
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Road Haulage Market stood at USD 8.89 billion
in 2022 and is anticipated to grow with a CAGR of 6.19% in the forecast period. Urbanization and population growth are
key drivers of the global road haulage market. As more people migrate to urban
areas and the global population continues to expand, there is an increasing
demand for the movement of goods to support urban living and consumer needs.
Here's how these factors drive the road haulage market. Urbanization Impact
such as, Urban dwellers tend to rely more on purchased goods and services,
including food, clothing, and electronics, leading to a higher volume of goods
requiring transport to urban centers. Urban areas require efficient
distribution networks to stock stores, restaurants, and businesses. Road
haulage companies play a central role in ensuring a continuous flow of goods to
meet the needs of urban populations. The concentration of consumers in urban
areas intensifies the demand for last-mile delivery services, with road haulage
companies delivering packages directly to homes and businesses.
Technological advancements in fleet
management and transportation logistics have become significant drivers of the
global road haulage market. The adoption of advanced technologies is
transforming the industry and enhancing its efficiency and competitiveness. Technological
Impact such as, Road haulage companies
are increasingly using telematics and GPS systems to track and monitor vehicles
in real-time. This technology enables optimized route planning, fuel efficiency
improvements, and enhanced safety. Advanced
data analytics tools provide valuable insights into fleet performance, allowing
companies to make data-driven decisions, predict maintenance needs, and
optimize their operations. Automation
technologies, including autonomous vehicles and driver assistance systems, have
the potential to improve safety and reduce labor costs in the long term, making
the road haulage industry more efficient and competitive. Technology is driving
the adoption of greener practices, such as electric and hybrid vehicles, reducing
the environmental impact of road haulage operations..
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Road
Haulage Market.”
The Global Road Haulage Market is segmented into type,
Vehicle type,
end user and region.
Based on Vehicle type, The
Heavy Commercial Vehicles (HCVs) segment had the largest market share in 2022
& expected to maintain in the forecast period. Heavy Commercial Vehicles,
commonly referred to as HCVs, play a pivotal role in the global road haulage
market. These vehicles are the workhorses of the industry, designed to
transport substantial quantities of goods over long distances. HCVs encompass a
wide range of vehicles, including tractor-trailers (commonly known as
semi-trucks or articulated lorries), rigid trucks, and specialized vehicles like
tankers and flatbeds. The availability of various HCV types allows road haulage
companies to select the most suitable vehicle for specific cargo and route
requirements, enhancing operational flexibility. HCVs are known for their substantial cargo
capacity, capable of carrying large volumes of goods, both in terms of weight
and volume. The high payload capacity of HCVs is essential for cost-effective
transportation of goods in bulk, such as raw materials, manufactured products,
and retail merchandise. This capability is especially valuable in industries
like construction, agriculture, and heavy manufacturing.
Based on end user, The Food Beverages segment had the
largest market share in 2022 and is projected to experience rapid growth during
the forecast period. The food and beverage industry is a significant player in
the global road haulage market, relying heavily on efficient transportation
networks to move raw materials, ingredients, and finished products. The food
and beverage industry is a significant player in the global road haulage
market, relying heavily on efficient transportation networks to move raw
materials, ingredients, and finished products. The food and beverage industry
often necessitates temperature-controlled transport to preserve the freshness
and quality of products. Refrigerated trucks, commonly known as reefer trucks,
are essential for this purpose. Reefer trucks enable the safe transportation of
perishable goods such as fruits, vegetables, dairy products, and frozen foods.
They play a critical role in maintaining the integrity of the supply chain and
ensuring that consumers receive safe and high-quality food products. The food
and beverage sector frequently relies on just-in-time (JIT) delivery to
minimize inventory holding costs and reduce food waste. Road haulage companies
specializing in JIT deliveries play a vital role in ensuring that food products
reach retailers and restaurants on schedule, optimizing supply chain efficiency
and reducing excess inventory.
Major companies operating in Global Road Haulage Market
are:
- Deutsche Post AG
- Kuehne + Nagel International AG
- Schenker AG
- United Parcel Service, Inc.
- FedEx Corporation
- Ceva Logistics SA
- Panalpina Welttransport Holding AG
- Nippon Express Co., Ltd.
- CMA CGM Group
- Expeditors International
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“The Global Road Haulage market is expected to rise in
the upcoming years and register a significant CAGR during the forecast period. Economic
growth serves as a primary driver of the Road Haulage market. As economies
expand, so does the production and distribution of goods. This necessitates a
robust and flexible transportation network, with road haulage playing a central
role. Growing economies lead to increased manufacturing, consumer spending, and
international trade, all of which generate higher demand for the movement of
goods. Road haulage is pivotal in transporting raw materials to manufacturing
plants, delivering finished products to retailers, and facilitating
international trade by transporting goods to ports and border crossings. Additionally,
economic growth spurs construction and infrastructure development, further
increasing the need for road haulage services to transport construction
materials and equipment. In essence, the Road Haulage market closely mirrors
the trajectory of economic growth, expanding and adapting to meet the
escalating demand for the efficient movement of goods, both domestically and
across borders, making it an indispensable component of the global supply
chain. Therefore, the market of Road Haulage is expected to boost in the
upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Road Haulage Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type
(International Road Haulage, Domestic Road Haulage), By Vehicle Type (Light
Commercial Vehicles, Heavy Commercial Vehicles) By End User (Mining
Construction, Oil Gas, Food Beverages, Retail, Manufacturing, Healthcare,
Automotive, Others), By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Road Haulage Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Road Haulage Market.
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