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The road haulage market size is forecast to increase by USD 1.34 billion between 2023 and 2028, accelerating at a CAGR of 6.78%. In 2018, China held the largest market share, projecting an annual revenue of USD 0.43 billion. The market is being propelled by a significant surge in road freight transport demand from both the retail and manufacturing sectors. With manufacturing firms expanding their operations globally, there's a corresponding increase in logistical requirements. Challenges such as fleet management, shortages of drivers, and IT infrastructure limitations can impede in-house logistics management efforts. Consequently, many shippers are opting to engage third-party logistics (3PL) providers to streamline operations, drive efficiencies, and lower costs, thereby optimizing the supply chain while minimizing tied-up capital.
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The road haulage market research report provides in-depth coverage of market segmentation, encompassing Vehicle Types Segment divided into Heavy Commercial Vehicles and Light Commercial Vehicles, Types Segment divided into Domestic Road Haulage and International Road Haulage, and Geography segment divided into APAC, North America, Europe, South America, and Middle East and Africa. The market size, historical market size (2017-2021), and forecasts are provided on the basis of value (USD billion) for all the above segments.
Domestic Segment Leads the Market
The heavy commercial vehicles segment was valued at USD 2.35 billion in 2018. The HCVs are commonly used when shippers decide they have enough items to fill vehicles, such as heavy-duty trucks, want all their shipments in one trailer when the freight is time-sensitive, or if the shipper decides that it is more cost-effective than the other options available. The growing global manufacturing industry is also expected to drive the growth of the HCVs segment.
Furthermore, vendors in the market are adopting intermodal transportation to provide better services to their clients. In recent years, regions such as North America and Europe have been focusing on the electrification of vehicles, including HCV. Thus, vendors are also expanding the charging infrastructure of electric vehicles. Thus, these developments regarding electrification will positively impact the growth of the global market through the HCVs segment during the forecast period.
APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Rapid economic growth in APAC has boosted consumer purchasing power, particularly in countries like China, India, and Indonesia, leading to increased e-commerce sales. Government initiatives, such as China's One Belt One Road (OBOR) initiative, aim to enhance infrastructure, connectivity, trade, and road logistics. In India, significant highway construction and investment in port modernization are driving road transportation. However, alternative transportation methods like ships and trains for goods may pose challenges for the market during the forecast period.
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The market is experiencing significant transformations driven by factors such as globalization, infrastructure development, and the rise of the e-commerce industry. With the increasing demand for goods across various sectors including agricultural products, automotive, and construction, road haulage plays a crucial role in bulk distribution and delivery logistics. The market is witnessing a shift towards innovative vehicles, including those with autonomous driving capabilities, to enhance efficiency and reduce carbon emissions. Heavy trucks powered by diesel engines are still prevalent in the industry, but there is a growing focus on reducing diesel engine emissions through technological advancements. Integrated supply chains and efficient road networks are facilitating domestic and international road haulage, contributing to the seamless movement of goods and materials across borders. As the demand for road haulage services continues to grow, the industry is evolving to meet the needs of modern transportation and logistics requirements.
Rising freight demand from retail and manufacturing industries is a key factor driving the market. Manufacturing companies worldwide are expanding, increasing logistics needs. Fleet management, driver shortages, and IT infrastructure challenges can hinder in-house logistics management. Many shippers turn to third-party logistics (3PL) providers to improve operational efficiency and reduce costs, enabling a more efficient supply chain with minimal blocked capital.
Additionally, the growing freight demand from retail and manufacturing has driven the development of vehicles like autonomous and electric trucks, further boosting the global market during the forecast period. For example, Volvo and Aurora collaborated on autonomous trucks, and Maersk ordered 16 electric trucks in September 2021, marking a significant advancement.
The road haulage market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
AM Cargo Ltd. - The company offers professional services to cargo and goods. The key offerings of the company include road haulage services for shipping containers and LCL goods.
AM Cargo Ltd., Leicester Heavy Haulage, Caterpillar Inc., CEVA Logistics, Container Corp. of India Ltd., DB Schenker, DSV AS, Fercam Spa, FM Logistic, Gosselin Group, Ital Logistics Ltd., KLG Europe, WALTER LEASING GmbH, Manitoulin Transport Inc., Maxi Group Ltd., Mesaroli Spa, Monarch Transport Ltd., Siemens AG, SLH Transport Inc., and Woodside Haulage Holdings Ltd.
The road haulage market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
The Market is witnessing a transformation driven by advanced technologies and innovative vehicles. Companies like Volvo Trucks are pioneering self-driving trucks, revolutionizing the transportation sector. With increasing globalization and e-commerce retail businesses, the demand for cutting-edge delivery options and efficient logistical networks is soaring. However, challenges persist, including rising fuel prices, carbon emissions, and stringent regulations on emission standards. The lack of heavy vehicle drivers and road traffic injuries also pose significant obstacles. Despite these hurdles, the market continues to evolve with investments in remote diagnostics and vehicle-to-vehicle communication systems. As the world shifts towards sustainable practices, road haulage companies are exploring ways to minimize environmental impact while ensuring safe and efficient transportation of goods, including agricultural products and staple foods, to meet residential preferences and logistical strategies.
In the realm of logistics, cartage services play a pivotal role in transporting goods, especially in sectors like coal transportation. Efficient container haulage and container transport are essential for global trade expansion, necessitating the use of cranes and cutting-edge vehicles for swift handling. However, amidst these operations, customer experience remains paramount. Transparent communication, timely deliveries, and fair delivery fees are crucial for enhancing satisfaction. Moreover, the logistics industry intersects with defense requirements, where secure and reliable transportation is vital. Despite these efforts, challenges persist, particularly regarding diesel fuel consumption. The reliance on diesel poses economic and environmental concerns. Innovations in alternative fuels and vehicle technologies aim to address these challenges, fostering more sustainable logistics practices. In conclusion, the logistics landscape continues to evolve, driven by the need for efficiency, reliability, and customer-centric solutions. As businesses navigate complexities such as fuel costs and operational challenges, embracing innovation and collaboration remain essential for progress in the ever-changing logistics sector.
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Road Haulage 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 6.78% |
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Market growth 2024-2028 |
USD 1.34 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.23 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 34% |
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Key countries |
China, US, UK, India, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AM Cargo Ltd., Leicester Heavy Haulage, Caterpillar Inc., CEVA Logistics, Container Corp. of India Ltd., DB Schenker, DSV AS, Fercam Spa, FM Logistic, Gosselin Group, Ital Logistics Ltd., KLG Europe, WALTER LEASING GmbH, Manitoulin Transport Inc., Maxi Group Ltd., Mesaroli Spa, Monarch Transport Ltd., Siemens AG, SLH Transport Inc., and Woodside Haulage Holdings Ltd. |
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Market dynamics |
Parent market analysis, market research and growth, Road haulage market growth and forecasting, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Road haulage market worth and condition analysis for market forecast period |
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Customization purview |
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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 Vehicle Type
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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