Global Road Freight Transportation Market – Analysis and Forecast (2021-2027)

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 7.4% between 2021 and 2027. 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 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.

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 2027 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.

Source: VynZ Research

Source: VynZ Research

1.    Research Overview 

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Product Type
                1.2.2.    By Application
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Research Methodology
                1.5.1.    Data Sources
                        1.5.1.1.    Primary Research
                        1.5.1.2.    Secondary Research
                1.5.2.    Methodology
                        1.5.2.1.    Data Exploration
                        1.5.2.2.    Forecast Parameters
                        1.5.2.3.    Data Validation
                        1.5.2.4.    Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2027

5.    Market Segmentation Estimate and Forecast

        5.1.    By Product Type
                5.1.1.    Less-Than-Truckload 
                        5.1.1.1.    Market Definition
                5.1.2.    Full Truckload Market 
                        5.1.2.1.    Market Definition
                        5.1.2.2.    Market Estimation and Forecast to 2027
        5.2.    By Application
                5.2.1.    Domestic
                        5.2.1.1.    Market Definition
                        5.2.1.2.    Market Estimation and Forecast to 2027
                5.2.2.    International
                        5.2.2.1.    Market Definition
                        5.2.2.2.    Market Estimation and Forecast to 2027

6.    North America Market Estimate and Forecast

        6.1.    By Product Type
        6.2.    By Application
        6.3.    By Country
                6.3.1.    U.S. Market Estimate and Forecast
                6.3.2.    Canada Market Estimate and Forecast
                6.3.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Product Type
        7.2.    By Application
        7.3.    By Country
                7.3.1.    Germany Market Estimate and Forecast
                7.3.2.    France Market Estimate and Forecast
                7.3.3.    U.K. Market Estimate and Forecast
                7.3.4.    Italy Market Estimate and Forecast
                7.3.5.    Spain Market Estimate and Forecast
                7.3.6.    Russia Market Estimate and Forecast
                7.3.7.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Product Type
        8.2.    By Application 
        8.3.    By Country 
                8.3.1.    China Market Estimate and Forecast
                8.3.2.    Japan Market Estimate and Forecast
                8.3.3.    India Market Estimate and Forecast
                8.3.4.    South Korea Market Estimate and Forecast
                8.3.5.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Product Type
        9.2.    By Application 
        9.3.    By Country
                9.3.1.    Brazil Market Estimate and Forecast
                9.3.2.    Saudi Arabia Market Estimate and Forecast
                9.3.3.    South Africa Market Estimate and Forecast
                9.3.4.    U.A.E. Market Estimate and Forecast
                9.3.5.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    FedEx Freight
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    Kerry Logistics Network Limited
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    YRC Worldwide
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    UPS
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments

        10.5.    Schneider National
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    J.B. Hunt Transport Services
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    Estes Express Lines
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    DSV
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    DHL Global Forwarding
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.    Swift Transportation
                10.10.1.    Snapshot
                10.10.2.    Overview
                10.10.3.    Offerings
                10.10.4.    Financial Insight
                10.10.5.    Recent Developments
        10.11.    Cargo Carriers Limited
                10.11.1.    Snapshot
                10.11.2.    Overview
                10.11.3.    Offerings
                10.11.4.    Financial Insight
                10.11.5.    Recent Developments
        10.12.    ArcBest
                10.12.1.    Snapshot
                10.12.2.    Overview
                10.12.3.    Offerings
                10.12.4.    Financial Insight
                10.12.5.    Recent Developments

        10.13.    CJ Logistics Corporation
                10.13.1.    Snapshot
                10.13.2.    Overview
                10.13.3.    Offerings
                10.13.4.    Financial Insight
                10.13.5.    Recent Developments
        10.14.    TNT Express
                10.14.1.    Snapshot
                10.14.2.    Overview
                10.14.3.    Offerings
                10.14.4.    Financial Insight
                10.14.5.    Recent Developments

        10.15.    DB SCHENKER
                10.15.1.    Snapshot
                10.15.2.    Overview
                10.15.3.    Offerings
                10.15.4.    Financial Insight
                10.15.5.    Recent Developments
        10.16.    Nippon Express
                10.16.1.    Snapshot
                10.16.2.    Overview
                10.16.3.    Offerings
                10.16.4.    Financial Insight
                10.16.5.    Recent Developments
        10.17.    CEVA Logistics
                10.17.1.    Snapshot
                10.17.2.    Overview
                10.17.3.    Offerings
                10.17.4.    Financial Insight
                10.17.5.    Recent Developments
        10.18.    Overland Total Logistics Services (M) Sdn Bhd
                10.18.1.    Snapshot
                10.18.2.    Overview
                10.18.3.    Offerings
                10.18.4.    Financial Insight
                10.18.5.    Recent Developments
        10.19.    GEODIS 
                10.19.1.    Snapshot
                10.19.2.    Overview
                10.19.3.    Offerings
                10.19.4.    Financial Insight
                10.19.5.    Recent Developments
        10.20.    GEFCO.
                10.20.1.    Snapshot
                10.20.2.    Overview
                10.20.3.    Offerings
                10.20.4.    Financial Insight
                10.20.5.    Recent Developments

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Road Freight Transportation Market Size, by Product Type, 2015 – 2020 (USD Million)
Table 5 Global Road Freight Transportation Market Size, by Product Type, 2021 – 2027 (USD Million)
Table 6 Global Road Freight Transportation Market Size, by Application, 2015 – 2020 (USD Million)
Table 7 Global Road Freight Transportation Market Size, by Application, 2021 – 2027 (USD Million)
Table 8 Global Road Freight Transportation Market Size, by Region, 2015 – 2020 (USD Million)
Table 9 Global Road Freight Transportation Market Size, by Region, 2021 – 2027 (USD Million)
Table 10 North America Road Freight Transportation Market Size, by Product Type, 2015 – 2020 (USD Million)
Table 11 North America Road Freight Transportation Market Size, by Product Type, 2021 – 2027 (USD Million)
Table 12 North America Road Freight Transportation Market Size, by Application, 2015 – 2020 (USD Million)
Table 13 North America Road Freight Transportation Market Size, by Application, 2021 – 2027 (USD Million)
Table 14 North America Road Freight Transportation Market Size, by Country, 2015 – 2020 (USD Million)
Table 15 North America Road Freight Transportation Market Size, by Country, 2021 – 2027 (USD Million)
Table 16 Europe Road Freight Transportation Market Size, by Product Type, 2015 – 2020 (USD Million)
Table 17 Europe Road Freight Transportation Market Size, by Product Type, 2021 – 2027 (USD Million)
Table 18 Europe Road Freight Transportation Market Size, by Application, 2015 – 2020 (USD Million)
Table 19 Europe Road Freight Transportation Market Size, by Application, 2021 – 2027 (USD Million)
Table 20 Europe Road Freight Transportation Market Size, by Country, 2015 – 2020 (USD Million)
Table 21 Europe Road Freight Transportation Market Size, by Country, 2021 – 2027 (USD Million)
Table 22 Asia-Pacific Road Freight Transportation Market Size, by Product Type, 2015 – 2020 (USD Million)
Table 23 Asia-Pacific Road Freight Transportation Market Size, by Product Type, 2021 – 2027 (USD Million)
Table 24 Asia-Pacific Road Freight Transportation Market Size, by Application, 2015 – 2020 (USD Million)
Table 25 Asia-Pacific Road Freight Transportation Market Size, by Application, 2021 – 2027 (USD Million)
Table 26 Asia-Pacific Road Freight Transportation Market Size, by Country, 2015 – 2020 (USD Million)
Table 27 Asia-Pacific Road Freight Transportation Market Size, by Country, 2021 – 2027 (USD Million)
Table 28 RoW Road Freight Transportation Market Size, by Product Type, 2015 – 2020 (USD Million)
Table 29 RoW Road Freight Transportation Market Size, by Product Type, 2021 – 2027 (USD Million)
Table 30 RoW Road Freight Transportation Market Size, by Application, 2015 – 2020 (USD Million)
Table 31 RoW Road Freight Transportation Market Size, by Application, 2021 – 2027 (USD Million)
Table 32 RoW Road Freight Transportation Market Size, by Country, 2015 – 2020 (USD Million)
Table 33 RoW Road Freight Transportation Market Size, by Country, 2021 – 2027 (USD Million)
Table 34 Snapshot – FedEx Freight
Table 35 Snapshot – Kerry Logistics Network Limited
Table 36 Snapshot – YRC Worldwide
Table 37 Snapshot – UPS
Table 38 Snapshot – Schneider National
Table 39 Snapshot – B. Hunt Transport Services
Table 40 Snapshot – Estes Express Lines
Table 41 Snapshot – DSV
Table 42 Snapshot – DHL Global Forwarding
Table 43 Snapshot – Swift Transportation
Table 44 Snapshot – Cargo Carriers Limited
Table 45 Snapshot – ArcBest
Table 46 Snapshot – CJ Logistics Corporation
Table 47 Snapshot – TNT Express
Table 48 Snapshot – DB SCHENKER
Table 49 Snapshot – Nippon Express
Table 50 Snapshot – CEVA Logistics
Table 51 Snapshot – Overland Total Logistics Services (M) Sdn Bhd.
Table 52 Snapshot – GEODIS
Table 53 Snapshot – GEFCO

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Road Freight Transportation Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Road Freight Transportation Market Highlight
Figure 12 Global Road Freight Transportation Market Size, by Product Type, 2015 – 2027 (USD Million)
Figure 13 Global Road Freight Transportation Market Size, by Application, 2015 – 2027 (USD Million)
Figure 14 Global Road Freight Transportation Market Size, by Region, 2015 – 2027 (USD Million)
Figure 15 North America Road Freight Transportation Market Highlight
Figure 16 North America Road Freight Transportation Market Size, by Product Type, 2015 – 2027 (USD Million)
Figure 17 North America Road Freight Transportation Market Size, by Application, 2015 – 2027 (USD Million)
Figure 18 North America Road Freight Transportation Market Size, by Country, 2015 – 2027 (USD Million)
Figure 19 Europe Road Freight Transportation Market Highlight
Figure 20 Europe Road Freight Transportation Market Size, by Product Type, 2015 – 2027 (USD Million)
Figure 21 Europe Road Freight Transportation Market Size, by Application, 2015 – 2027 (USD Million)
Figure 22 Europe Road Freight Transportation Market Size, by Country, 2015 – 2027 (USD Million)
Figure 23 Asia-Pacific Road Freight Transportation Market Highlight
Figure 24 Asia-Pacific Road Freight Transportation Market Size, by Product Type, 2015 – 2027 (USD Million)
Figure 25 Asia-Pacific Road Freight Transportation Market Size, by Application, 2015 – 2027 (USD Million)
Figure 26 Asia-Pacific Road Freight Transportation Market Size, by Country, 2015 – 2027 (USD Million)
Figure 27 RoW Road Freight Transportation Market Highlight
Figure 28 RoW Road Freight Transportation Market Size, by Product Type, 2015 – 2027 (USD Million)
Figure 29 RoW Road Freight Transportation Market Size, by Application, 2015 – 2027 (USD Million)
Figure 30 RoW Road Freight Transportation Market Size, by Country, 2015 – 2027 (USD Million)