Status : Published Published On : Jun, 2020 Report Code : VRAT4078 Industry : Automotive & Transportation Available Format : Page : 163

Global Road Freight Transportation Market – Analysis and Forecast (2019-2025)

Industry Insights by Product Type (Less-Than-Truckload, Full Truckload Market), by Application (Domestic, International)

Industry Overview

The global road freight transportation market is is forecast to grow at a CAGR of 7.0% between 2020 and 2025. The growth of this market is attributed towards the increase in the global retail industry, emergence of ecommerce in various segments and the need for fast courier deliveries.

Road Freight Transportation Market Highlights

Road haulage or freight transport means shipment made through the way of roads. Roads are the most common way for freight transportation and this mode of transport involves various types of vehicles like flatbed trucks, truck trailers, refrigerated trucks, lorry tank and pickup trucks. This way of transport is the most cost effective and quick way to provide door to door service of daily offerings.

Road freight transportation is the process where a truck of a significant capacity moves the products from one place to another. It may be from manufacturer to distributer to retailer, it may be from the dock yard to the distributers. Any transport of goods through the roadways is road haulage. Freight haulage involves lower capital investments when compared to other ways of transportation such as through rail, sea ways or air transportation. Furthermore, with the increase in the disposable income of the individuals, the demand for goods in all the segments is increasing that is further bolstering the growth of global road freight transportation market.

Market Segmentation

Insight by Product Type

On the basis of product type, the global road freight transportation market is categorized into less-than-truckload and full truckload market. Amongst these segments, full truckload segment is expected to witness higher CAGR during the forecast period as this full truckload is suggested for heavy and large loads and thus ensure maximum capacity to move from one place to another.

Report Metric

Details

Market Size Available for the Years in the Study

2015–2025

Historical Period

2015–2019

Base Year

2019

Forecast Period

2020–2025

Segments Covered in the Study

Product Type, Application, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

FedEx Freight, Kerry Logistics Network Limited, YRC Worldwide, UPS, Schneider National, J.B. Hunt Transport Services, Estes Express Lines, DSV, DHL Global Forwarding, Swift Transportation, Cargo Carriers Limited, ArcBest, CJ Logistics Corporation, TNT Express, DB SCHENKER, Nippon Express, CEVA Logistics, Overland Total Logistics Services (M) Sdn Bhd., GEODIS, and GEFCO

Industry Dynamics

Industry Trends

Increasing trends pertaining to the freight technology solution provider and safe roads with electronic devices for drivers are the key trends observed in the growth of global road freight transportation market. The service providers are adopting new technologies such as predictive maintenance, RFID tracking and Hybrid powertrains that make intercity transportation by road efficient and effective thereby accentuating the growth of global road freight transportation market. 

Growth Drivers

The emergence of e-commerce industry, increasing disposable income of the population and enhanced health consciousness amongst the, tax relaxations provided by government for the trade between countries along with increasing need for fossil fuels health consciousness, are the key factors driving the growth of global road freight transportation market. The emergence of e-commerce has led to the increase in the need of distribution of retail products at a significant rate. With the emergence of the e-commerce platforms the major companies even with the brick and mortar stores are now setting up their electronic stores online to reach a wider number of customers easily. This requires the companies to hire services providing freight services to areas which were not targeted before.

Challenges

However, hurdles due to road conditions, traffic congestion and harsh weather conditions are factors that are expected to hinder the growth of global road freight transportation market. 

Geographic Overview

Geographically, road freight transportation market in Europe is expected to generate largest revenue by 2025 as extensive tie ups undertaken by the region for trade with the emerging countries. Additionally, the emerging economies allow the market to grow at a promising rate with increase in import and export of goods. Furthermore,   the automotive domain is fetching in new features in the small and large commercial vehicles that are used for the road transportation of goods. For instance GPS, increased fuel efficiencies, digital capacity measurement equipment, strong chassis and containers for the vehicle to enable transportation of large consignments more efficiently and safely with fast deliveries. 

Moreover, the road freight transportation market in Asia-Pacific is expected to witness the fastest growth in the market throughout the forecast period. This is due to the fact that the emergence of the ecommerce market has led to a great expansion in the retail segment and has greatly affected this region. Furthermore, the presence of emerging economies and the improved lifestyles have further attributed towards the demand for oil and petroleum, manufacturing, construction and food and beverages domain that is bolstering the growth of road freight transportation market at significant rate.

Competitive Insight

Key players operating in the global road freight transportation market are emphasizing their efforts upon strategic acquisitions in order to strengthen capabilities of research & development that supports them in providing innovative solutions to the users and thus gain competitive advantage. 

Some of the major players operating the global road freight transportation market include FedEx Freight, Kerry Logistics Network Limited, YRC Worldwide, UPS, Schneider National, J.B. Hunt Transport Services, Estes Express Lines, DSV, DHL Global Forwarding, Swift Transportation, Cargo Carriers Limited, ArcBest, CJ Logistics Corporation, TNT Express, DB SCHENKER, Nippon Express, CEVA Logistics, Overland Total Logistics Services (M) Sdn Bhd., GEODIS, and GEFCO.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.

Road Freight Transportation Market Size

Source: VynZ Research

Road Freight Transportation Market Analysis

Source: VynZ Research

Frequently Asked Questions

FedEx Freight, Kerry Logistics Network Limited, YRC Worldwide, UPS, Schneider National, J.B. Hunt Transport Services, Estes Express Lines, DSV, DHL Global Forwarding, Swift Transportation, Cargo Carriers Limited, ArcBest, CJ Logistics Corporation, TNT Express, DB SCHENKER, Nippon Express, CEVA Logistics, Overland Total Logistics Services (M) Sdn Bhd., GEODIS, and GEFCO.
North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)
The global road freight transportation market is is forecast to grow at a CAGR of 7.0% between 2020 and 2025.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Road Freight Transportation Market