Industry Overview
The Global Road Freight Transportation Market is forecast to grow at a CAGR of 7.4% between 2025 and 2030. The growth of this market is attributed to the increase in the global retail industry, the emergence of e-commerce 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 tanks, 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 products from one place to another. It may be from manufacturer to distributor to retailer, it may be from the dockyard to the distributors. 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, seaways, or air transportation. Furthermore, with the increase in the disposable income of individuals, the demand for goods in all segments is increasing which is further bolstering the growth of the global road freight transportation market.
Market Segmentation
Insight by Product Type
Based on product type, the global road freight transportation market is categorized into less-than-truckload and full-truckload markets. Amongst these segments, the 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 ensures the maximum capacity to move from one place to another.
Industry Dynamics
Global Road Freight Transportation Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. XX Billion
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Revenue Forecast in 2030
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U.S.D. XX Billion
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Growth Rate
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7.4%
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Segments Covered in the Report
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Product Type, Application
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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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.)
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Industry Trends
Increasing trends of freight technology solution providers and safe roads with electronic devices for drivers are the key trends observed in the growth of the 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 the global road freight transportation market.
Growth Drivers
The emergence of the e-commerce industry, increasing disposable income of the population, and enhanced health consciousness amongst the tax relaxations provided by the government for the trade between countries along with the increasing need for fossil fuels health consciousness are the key factors driving the growth of the global road freight transportation market. The emergence of e-commerce has led to an increase in the need for the 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 that 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 the global road freight transportation market.
Geographic Overview
Geographically, the road freight transportation market in Europe is expected to generate the largest revenue by 2030 as extensive tie-ups undertaken by the region for trade with emerging countries. Additionally, emerging economies allow the market to grow at a promising rate with an increase in the import and export of goods. Furthermore, the automotive domain is fetching 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 the 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 because the emergence of the e-commerce market has led to a great expansion in the retail segment and has greatly affected this region. Furthermore, the presence of emerging economies and improved lifestyles have further contributed to the demand for oil and petroleum, manufacturing, construction, and food and beverages domain which is bolstering the growth of the road freight transportation market at a significant rate.
Competitive Insight
Key players operating in the global road freight transportation market are emphasizing their efforts upon strategic acquisitions to strengthen capabilities of research & development that support them in providing innovative solutions to the users and thus gain a competitive advantage.
Kerry Logistics Network Limited is a company engaged in third party logistics, warehouse operations, freight services and supply chain services. The company is headquartered in Kwai Chung, Hong Kong.
United Parcel Service, Inc. is an American multinational shipping & receiving and supply chain management company. It is a fortune 500 company and one of the world's largest shipping couriers.
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.
Recent Developments by Key Players
FedEx Express (FedEx), a subsidiary of FedEx Corp. which is the largest express transportation companies introduced a new flight that offers additional capacity to cater to international freight shipmentsis further enhancing its transpacific service between South Korea and the US.
DSV, the global transport and logistics company, and UNICEF has collaborated to provide rapid emergency responses and strengthening global supply chains. DSV will provide UNICEF with in-kind flights for swift delivery of essential supplies during emergencies, as well as flexible funding to enable timely support to children around the world.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising consumers are also conducted to understand consumer behavior.
The Road Freight Transportation Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- Product Type
- Less-Than-Truckload
- Full Truckload Market
- Application
Geographical Segmentation
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Source: VynZ Research
