Global Road Haulage Market is set to reach $4,072 Bn by 2030

The global road haulage industry size was nearly $3,879 Billion in 2022 and is set to reach $4,072 Billion by 2030 with a CAGR of nearly 5.6% between 2023 and 2030.

Road haulage refers to goods transportation business through roadways. Furthermore, there is a massive surge in truck production across the globe due to an increase in demand for freight transport across the manufacturing and retail industries. This has increased the popularity of road haulage business activities. In addition to this, firms in the road haulage business are highlighting integrating logistics technology into transport services for increasing the consumer base. However, the reduction in freight costs has resulted in high competition among these firms, thereby enlarging the growth and scope of the road haulage industry across the globe.

Firms in the road haulage business are focusing on enhancing the end-user experience through the use of new technologies such as GPS and autonomous vehicles. Moreover, such initiatives will also help in reducing operational costs of road transport, thereby spearheading the growth of the global road haulage market. Furthermore, technological breakthroughs such as autonomous driving, smart supply chains, and vehicle-to-vehicle communications will contribute majorly to the global road haulage market size in the coming years.

However, massive fuel costs, road traffic jams, riots, and road accidents have created hurdles in the growth path of the global road haulage industry. Less availability of heavy-duty vehicle drivers further impedes the expansion of the global industry. Nevertheless, the launching of autonomous vehicles and new logistics procedures will generate new growth horizons for the road haulage industry across the globe.

The global road haulage market is divided into type, vehicle type, application, and region.

Based on the type, the global road haulage market is divided into domestic road haulage and international road haulage segments. Moreover, the international road haulage segment is predicted to record the highest CAGR over the forecast timeframe subject to a rise in global trade due to rapidly developing road infrastructure and technological innovations including GPS tracking in the logistics sector. Apart from this, tax subsidies and relaxation in import duties as well as flexible transport costs will pave a way for the growth of the segment in the upcoming years.

In terms of vehicle type, the global road haulage industry is bifurcated into light and heavy commercial vehicles segments. In addition to this, the heavy commercial vehicles segment, which accounted for the largest share of the global industry in 2022, is expected to lead the vehicle type segment during the forecast period. The growth of the segment from 2023 to 2030 can be a result of the rise in truck production and commercial vehicles.

On basis of application, the global road haulage market is sectored into healthcare, mining & construction, automotive, food & beverages, oil & gas, retail, and manufacturing industries. Moreover, the retail segment is predicted to register large-scale growth over 2023-2030 due to the swiftly expanding e-commerce sector.

The Asia-Pacific road haulage industry is anticipated to register noteworthy expansion over the forecast timeline. The regional market growth over the forecast period can be ascribed to a rise in investments made by private players and the government in improving road infrastructure. Rise in the e-commerce activities in emerging economies such as China and India will propel the demand for road haulage services in the sub-continent.

Furthermore, North America is set to contribute lucratively towards the global market share in the next couple of years. The regional market share can be attributed to the rise in trade & commerce activities in the countries such as Canada and the U.S.

This review is based on a report by Zion Market Research, titled “Road Haulage Market By Type (Domestic Road Haulage and International Road haulage), By Vehicle Type (Light Commercial Vehicles and Heavy Commercial Vehicles), By Application (Mining & Construction, Healthcare, Oil & Gas, Retail, Food & Beverages, Manufacturing, and Automotive), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/road-haulage-market

Recent Breakthroughs:

• In February 2023, Elengy, a key player in the LNG industry, and DeltaRail Group Limited, a major player in the transport sector, will jointly launch new LNG container loading solutions from various LNG terminals based in Elengy. The move will contribute sizably towards the road haulage industry size in Europe.
• In February 2023, Zepp.solutions, a Holland-based fuel cell system producer & integrator, unleashed a new hydrogen fuel cell powered truck referred to as Europe. Moreover, the new truck is a zero-emission vehicle and will be deployed as a heavy-duty mode of road vehicle transport. Moreover, the first vehicle will be operated in the fourth quarter of 2023. This move will encourage customers in Europe to adopt the zero-emission mode of road transport. Reportedly, the Dutch government is providing subsidies and incentives for promoting the manufacture of zero-emission automotive. For instance, the Dutch government has introduced a scheme referred to as the Dutch AanZET subsidy that covers nearly 37% of the purchase cost of zero-emission trucks.  The scheme works on the principle of first come first serve and will come into operation from 4th April 2023. Such initiatives will benefit the growth of the road haulage market in Europe and across the globe.

Key participants in the global road haulage industry include:

• Kindersley Transport Ltd.
• Manitoulin Transport Inc.
• UK Haulier
• Container Corporation of India Limited
• LKW WALTER Internationale Transportorganisation AG
• Gosselin Group
• Monarch Transport Corporation
• AM Cargo
• SLH Transport Inc.
• Woodside Logistics Group.

The global road haulage market is segmented as follows:

By Type

• Domestic Road Haulage
• International Road haulage

By Vehicle Type

• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Application

• Mining & Construction
• Healthcare
• Oil & Gas
• Retail
• Food & Beverages
• Manufacturing
• Automotive

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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