Global Road Haulage Market is valued approximately USD 14.19 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.00% over the forecast period 2022-2029. Road Haulage is known as transportation of goods via road. Thus, the major driving factors for the market are rising e-commerce industry which increase the demand for road haulage, and rising automation industry and transportation industry. Moreover, adoption of self-driving trucks is creating lucrative growth opportunity for the market over the forecast period.
According to Statista, in 2020, the sales of e-commerce were USD 4,938 billion which is predicted to increase up to USD 6,767 billion in 2023. Along with this, according to the same source, the coronavirus pandemic caused a decline in the logistics sector's size in 2020, which was close to USD 5.68 trillion. The logistics sector is expected to generate more than USD 6.74 billion in revenue by 2024. However, it causes pollution which is harmful for the environment. Thus, the above-mentioned factor is stifles market growth throughout the forecast period of 2022-2029. Along with this, it increases the risk associated with accidents which is limiting the market growth over the forecast period.
The key regions considered for the Global Road Haulage Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the space in terms of revenue, owing to the rise is attributed to the region's expanding foreign investments and better transportation infrastructure. Furthermore, the need for efficient road haulage services is being further fueled by the fast-expanding e-commerce sector in developing nations like China and India. North America is expected to grow significantly during the forecast period, owing to factors such as the regional market, which is currently seeing solid expansion, is projected to hold onto a sizeable portion of the market. The regional market's development possibilities may be linked to the region's extensive highway system as well as the region's growing quantity and breadth of commercial operations.
Major market players included in this report are:
Kindersley Transport Ltd.
LKW WALTER International Transport organization AG
Manitoulin Transport Inc.
SLH Transport Inc.
Woodside Logistics Group
Recent Developments in the Market:
In Aurangabad, one of Maharashtra's premier educational and industrial centres, in India, in April 2022, Nitin Gadkari, the Union Minister for Road Transport and Highways, unveiled seven national highway projects. The building of these national transportation projects is anticipated to hasten the expansion and transportation of the Aurangabad district, according to the union minister.
Volvo Trucks introduced a number of cutting-edge innovations in June 2022 with the goal of enabling precise driving in constrained spaces and on uneven or slippery roads.
Global Road Haulage Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Vehicle, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
International Road Haulage
Domestic Road Haulage
Light Commercial Vehicles
Heavy Commercial Vehicles
Mining & Construction
Oil & Gas
Food & Beverage
Rest of the World