USD 4295.64 billion
Global Road Haulage Market Size, Share, Growth Analysis, By Application(retail, petroleum), By Vehicle type(light trucks, medium trucks), By Service(light haulage, container transport) - Industry Forecast 2024-2031
Report ID:
SQMIG20V2003 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|
Tables:
95 |
Figures:
76
Global Road Haulage Market Insights
Global Road Haulage Market size was valued at USD 4295.64 billion in 2022 and is poised to grow from USD 4531.90 billion in 2023 to USD 6955.05 billion by 2031, growing at a CAGR of 5.50% during the forecast period (2024-2031).
Road haulage is the business of transporting goods by road from one location to another. It consists of two types of transportation: hoisting and cartage or drainage. Drayage or cartage is the horizontal transport of coal, ore, waste, and other goods, whereas hoisting is the vertical transport of the same goods using cranes.
Furthermore, road haulage services include container haulage, pallet haulage, refrigerated haulage, and others. The road haulage process is widely used in a variety of industries, including chemical, retail, petroleum, defence, and construction. A significant increase in global truck production is supplementing rising freight demand from industries like retail and manufacturing.
Trucks are the most adaptable, responsive, and cost-effective mode of freight transport preferred by distributors for the transportation of a wide range of goods, which is propelling market growth. Furthermore, technological advances such as vehicle-to-vehicle communication, integrated supply chains, remote diagnostics, and autonomous driving are transforming the logistics industry, fueling global demand for road haulage services.
The booming worldwide online retail sector has created a demand for prompt parcel deliveries. A new class of logistics operators has emerged as a result of the expansion of the e-commerce sector, which has brought about the need for new service requirements including quick deliveries.
US Road Haulage Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
retail
Fastest Growth
retail
Growth Rate
5.50% CAGR
Global Road Haulage Market ($ Bn)
Country Share for North america Region (%)
Global Road Haulage Market By Application ($ Bn)
Global Road Haulage Market By Application (%)
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Global Road Haulage Market Segmental Analysis
The global road haulage market can be classified according to application, vehicle type, service. The Road Haulage Market can be divided into retail, petroleum, defence, chemical, construction, and delivery based on application. The Road Haulage Markete. In terms of service, the market is further subdivided into light haulage, container transport, refrigerated haulage, pallet haulage, and heavy haulage. By region, the Road Haulage Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Road Haulage Market Analysis by Vehicle
The road freight transport market can be divided into light trucks, medium trucks, heavy trucks, and other trucks based on the kind of vehicle. Due to the vast distances that large vehicles travel for export and import reasons globally, the heavy truck category holds a major share of the market. Furthermore, because they can transport big items and materials in greater quantities than other vehicle types, heavy trucks are the best choice for both short- and long-distance transportation. This is a crucial element that is anticipated to enhance the market for road freight transportation throughout the projection period.
Road Haulage Market Analysis by Application
Road haulage services are employed in a variety of application sectors in a variety of industries, including mining and construction, oil and gas, food and beverage, retail, manufacturing, healthcare, the automobile industry, and others. The increasing need for construction materials and petroleum around the world is credited with driving the expansion of the mining & construction segment. Due to the flourishing global e-commerce market, the retail segment is anticipated to increase significantly. The demand for dependable road haulage services for the transportation of metal ores and other mining and quarrying products is likely to increase, providing the mining and construction market with considerable potential opportunities.
Global Road Haulage Market By Application, 2022 (%)
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Global Road Haulage Market Regional Insights
In terms of revenue throughout the anticipated period, the road haulage market in North America commands the global market. Due to the increasing demand for container hauling, refrigerated hauling, and pallet hauling in these countries.
Due to rising economies in Asia Pacific the market is predicted to grow significantly faster than the market in Europe. Latin America is predicted to experience moderate revenue growth, followed by the Middle East and Africa. Geographically, the market is anticipated to be dominated by Asia-Pacific (APAC) throughout the forecast period. The region's road freight transportation market is anticipated to increase as a result of the region's growing population and the welcoming government policies in nations like China and India regarding e-commerce and other businesses. Additionally, the region's developing nations are making significant investments in port construction to increase cargo handling.
Global Road Haulage Market By Region, 2024-2031
- Largest
- Fastest
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Global Road Haulage Market Dynamics
Road Haulage Market Drivers
Growing Demand from Various End Users to Bolster Market Growth
- Growing demand for road haulage in the manufacturing, construction, chemical, and other industries, as well as for efficient, safe, and quick road transportation. During the forecast period, these are the key aspects that are expected to drive the growth of the worldwide road haulage market. Other factors anticipated to boost the target market expansion include expanding automotive and transportation sectors, as well as an increase in the use of various transport vehicles such as trucks, vans, and lorries for the movement of products.
- Increasing use of cutting-edge vehicles, logistical strategies, and transport and logistics procedures by road haulage service companies. There are more and more international transport service companies. The aforementioned are additional elements anticipated to spur the worldwide road haulage market's rise in the near future.
Road Haulage Market Restraints
Stringent Regulations to Hinder Market Growth
- A number of significant issues, such as rising fuel prices, transportation strikes, and governmental regulations pertaining to logistics and transportation, are anticipated to restrain the growth of the global road haulage market.
- Over the forecast period, factors including rising carbon emissions from the usage of diesel fuel in road transportation and an increase in traffic accidents worldwide are anticipated to restrain the market's expansion.
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Global Road Haulage Market Competitive Landscape
Due to the existence of numerous well-established regional competitors, the market is extremely fragmented and is characterised by intense competition. To increase their consumer base, businesses are concentrating on integrating logistics technologies into their transportation services. Reduced delivery fees have prompted important participants in this industry to compete more fiercely on price. Businesses are concentrating on expanding their ability to transport goods, either through partnerships with third-party logistics service providers or through the introduction of cutting-edge delivery options.
Road Haulage Market Top Player's Company Profiles
- DHL International GmbH
- FedEx Corporation
- UPS Inc.
- Ceva Logistics
- DSV A/S
- DB Schenker
- Kuehne + Nagel International AG
- XPO Logistics Inc.
- Nippon Express Co. Ltd.
- J.B. Hunt Transport Services Inc.
- Swift Transportation Company
- Schneider National Inc.
- CH Robinson Worldwide Inc.
- C.H. Guenther & Son Inc.
- Werner Enterprises Inc.
- YRC Worldwide Inc.
- Penske Logistics
- Ryder System Inc.
- Knight Transportation Inc.
- Old Dominion Freight Line Inc.
Road Haulage Market Recent Developments
- In April 2022, Union Minister for Road Transport and Highways Nitin Gadkari introduced seven national highway projects in Aurangabad, recognized as one of Maharashtra's foremost educational and industrial hubs. As per the union minister, the Aurangabad district's growth and transportation are expected to be accelerated by the construction of these national transportation projects.
- In June 2022, Volvo Trucks launched various advanced technologies focused on enabling accurate driving in confined quarters and on bumpy or slippery roads.
Global Road Haulage Key Market Trends
- The market is anticipated to grow as a result of globalization. The road haulage industry is anticipated to grow as a result of new logistical techniques, innovative vehicles, and technological advancements. It is projected that the market will benefit significantly from the ongoing demand for bulk distribution, agricultural products, staple foods, and package delivery.
- The demand for road haulage is rising across industries like manufacturing, defence, petroleum, and infrastructure.
Global Road Haulage Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, The market for road haulage has grown along with the automation sector and transportation. This is another driver of the road haulage market's expansion. The road haulage market's expansion is constrained by a lack of heavy vehicle drivers and a sharp rise in traffic accidents. Another obstacle to the market's expansion is the environmental impact of vehicles' diesel engines, which violate emission standards and damage the environment. This is what makes the road haulage market's expansion difficult. The development of self-driving trucks and new logistics techniques, for example, is proving to be an opportunity element for the market's growth. To improve the customer experience, a large number of e-commerce retail businesses are investing heavily in expanding their logistical networks and capabilities. Additional opportunities for market expansion are provided by increased industrialization and rising investments in streamlining the parcel transportation procedure. Along with these investments, the demand for road haulage is also being driven by an increase in population and a change in residential preferences (location change/shifting) over the anticipated period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4295.64 billion |
| Market size value in 2031 | USD 6955.05 billion |
| Growth Rate | 5.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Road Haulage Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Road Haulage Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Road Haulage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Road Haulage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Road Haulage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Road Haulage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Road Haulage Market Report Snapshots
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