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The Japan road freight transport market size is forecast to increase by USD 9.56 billion at a CAGR of 6.15% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market plays a pivotal role In the logistics and supply chain sector, particularly for the manufacturing industry. Road freight is utilized for transporting raw materials, finished goods, and components between various production facilities and distribution centers. The demand for road freight services is driven by the need to efficiently move goods from manufacturers to retailers and consumers. This is crucial for Japanese manufacturing enterprises, which often have multiple production sites located in different regions. The transportation of raw materials and components to production facilities is also a significant function of the road freight market. The road sector provides a reliable and efficient means for manufacturers to deliver their products to market, ensuring a steady supply chain.
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The manufacturing segment was valued at USD 5.48 billion in 2018 and showed a gradual increase during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
E-commerce and last-mile delivery is the key driver of the market.
Increase in road freight demand is the upcoming trend In the market.
Availability of substitutes is a key challenge affecting the market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a critical component of the country's logistics sector, facilitating the movement of goods from manufacturers to consumers and supporting various industries, including agriculture, fishing and forestry, oil and gas, mining and quarrying, and the FMCG sector. The market encompasses a range of vehicle classes, including light commercial vehicles, medium commercial vehicles, and heavy commercial vehicles, catering to the diverse needs of domestic entities and emerging startups. The road sector in Japan is characterized by a historic period of regulatory changes and infrastructure investments. The regulatory environment has evolved to prioritize sustainability initiatives and digitalization, with a focus on reducing carbon emissions and improving operational efficiency.
In addition, urbanization trends have led to an increased demand for door-to-door services and collaboration logistics, particularly In the e-commerce sector. The market dynamics of the road freight transport sector are influenced by several factors. The rising production and income levels in Japan have led to an increase in demand for raw materials and finished goods, driving up freight rates. However, fuel prices and tax hikes have put pressure on truckers, leading to higher operating costs. The fuel costs, including petrol prices and diesel price increases, have been a significant concern for small fleet owners and large fleet operators alike. The regulatory changes, such as VAT cuts and the implementation of GST, have had a significant impact on freight transportation and warehousing costs.
Furthermore, oil marketing companies have also influenced the market by affecting fuel prices and domestic gasoline demand. High inflation and economic recovery have further complicated the market landscape, creating both opportunities and challenges for players. The market is a complex ecosystem, with various stakeholders, including freight transportation companies, logistics service providers, and e-commerce platforms. CEP and VAS have emerged as key players In the e-commerce sector, offering seamless delivery solutions and leveraging digitalization and automation to improve efficiency. The market is also witnessing a shift towards an asset-light model, with companies focusing on kitting, assembling, and packing services to reduce overheads.
In addition, the emergence of e-commerce deliveries has led to the growth of less-than-truckload (LTL) and all cargo services, catering to the changing demands of consumers. The regulatory environment and consumer behavior are two critical factors shaping the future of the market. Sustainability initiatives, such as the BHRT and Sagarmala projects, are driving the adoption of green initiatives and technology advancements. The e-commerce boom and cross-border trade are also creating new opportunities for strategic alliances and collaborations between domestic entities and international players. Therefore, the market is a dynamic and evolving landscape, influenced by various factors, including regulatory changes, consumer behavior, and technological advancements. The market is expected to continue to grow, driven by the increasing demand for goods and services, urbanization trends, and the e-commerce boom. Companies that can adapt to the changing market dynamics and leverage technology and sustainability initiatives are likely to thrive in this competitive market.
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Market Scope |
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Report Coverage |
Details |
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Page number |
154 |
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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 6.15% |
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Market growth 2024-2028 |
USD 9.56 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.37 |
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Competitive landscape |
Leading Companies, market report , Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Vehicle Type
8 Market Segmentation by Type
9 Customer Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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