Global Road Haulage Market

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

Road Haulage Market News

  • 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.
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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).

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. '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.'

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.

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.

In terms of revenue throughout the anticipated period, the road haulage market in North America commands the market. Due to the increasing demand for container hauling, refrigerated hauling, and pallet hauling in these countries.

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Global Road Haulage Market

Product ID: SQMIG20V2003