NEW
YORK, June 19, 2024 /PRNewswire/ -- The
global road haulage market size is estimated to grow by
USD 1.34 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 6.78% during the forecast period. Rising freight
demand from retail and manufacturing industries is driving
market growth, with a trend towards rapid adoption of
smartphones and growing internet penetration.
However, shortage of heavy vehicle drivers poses a
challenge. Key market players include AM Cargo Ltd., Leicester
Heavy Haulage, Caterpillar Inc., CEVA Logistics, Container Corp. Of
India Ltd., DB Schenker, DSV AS, Fercam Spa, FM Logistic, Gosselin
Group, Ital Logistics Ltd., KLG Europe, WALTER LEASING GmbH,
Manitoulin Transport Inc., Maxi Group Ltd., Mesaroli Spa, Monarch
Transport Ltd., Siemens AG, SLH Transport Inc., and Woodside
Haulage Holdings Ltd..
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segments, customer landscape, and companies- View the snapshot
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Road Haulage Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
6.78%
|
Market growth
2024-2028
|
USD 1341.4
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
6.23
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 34%
|
Key
countries
|
China, US, UK, India,
and Canada
|
Key companies
profiled
|
AM Cargo Ltd.,
Leicester Heavy Haulage, Caterpillar Inc., CEVA Logistics,
Container Corp. Of India Ltd., DB Schenker, DSV AS, Fercam Spa, FM
Logistic, Gosselin Group, Ital Logistics Ltd., KLG Europe, WALTER
LEASING GmbH, Manitoulin Transport Inc., Maxi Group Ltd., Mesaroli
Spa, Monarch Transport Ltd., Siemens AG, SLH Transport Inc., and
Woodside Haulage Holdings Ltd.
|
Market Driver
The automotive industry is experiencing significant
transformation through the integration of artificial intelligence
(AI) and Internet of Things (IoT) technologies. This innovation is
driving the demand for autonomous transportation solutions,
particularly in the road haulage market. Notable companies like
Volvo Autonomous Solutions and Tesla are leading this trend by
developing autonomous transport solutions for hub-to-hub
applications and launching electric trucks with enhanced autopilot
systems. These advancements aim to increase utility, improve fuel
efficiency, and enhance safety, contributing to the growth of the
global road haulage market.
The road haulage market is experiencing significant trends with
a focus on efficiency and technology. The use of advanced
technologies such as vehicle tracking and digital documentation is
increasing. This helps in improving delivery times and reducing
administrative costs. Additionally, the adoption of alternative
fuels like electric and hydrogen vehicles is gaining traction. This
is in response to the growing demand for sustainable logistics
solutions. Furthermore, the implementation of regulations like the
European Union's Green Deal is driving the shift towards more
eco-friendly transportation methods. Overall, the road haulage
industry is undergoing transformative changes to meet the evolving
needs of businesses and consumers.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The global road haulage market faces a significant challenge
due to a persistent driver shortage. From Europe to the US, the deficit of Heavy
Commercial Vehicle (HCV) drivers reached 22% in Europe from 2018 to 2019 and 80,000 in the US
in 2021. Spain experienced a
substantial decrease in potential drivers in 2019. The aging driver
population, with an average age between 45 and 47 years in
Germany, is retiring, leading to a
further shortage. This scarcity compels transport companies to
decline contracts, causing delays in product delivery and
increasing transportation costs by nearly three times that of rail
and water combined. These factors may hinder market growth during
the forecast period.
- The road haulage market faces several challenges in delivering
goods and services efficiently. The complexity of supply chains and
the need for real-time tracking and delivery have become crucial
factors. Commerccially, capacity and cost management are
significant challenges. Fuel prices and vehicle maintenance costs
impact profitability. Regulations, such as hours of service and
weight restrictions, add complexity and increase operational costs.
Additionally, the need for secure and efficient logistics solutions
to transport sensitive goods is a growing concern. To remain
competitive, road haulage companies must continuously adapt to
these challenges and invest in technology and innovation.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This road haulage market report extensively covers market
segmentation by
- Vehicle Type
- 1.1 Heavy commercial vehicles
- 1.2 Light commercial vehicles
- Type
- 2.1 Domestic road haulage
- 2.2 International road haulage
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Heavy commercial vehicles- The heavy commercial
vehicles (HCV) segment in the road haulage market caters to larger
shipments, typically filling more than half of a 48-foot or 53-foot
trailer. This mode is popular when shippers have sufficient items,
require time-sensitive freight, or find it cost-effective. HCV
includes refrigerated trucks for temperature-sensitive goods and
offers value-added services like loading, unloading, and
door-to-door delivery. The global manufacturing industry's growth
is driving HCV demand, with vendors adopting intermodal
transportation and electrification. Notable developments, such as
the Volvo Group, Daimler Truck, and TRATON GROUP's joint venture to
install European charging infrastructure for electric HCVs, are
positively impacting the market's growth during the forecast
period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Road Haulage Market encompasses the transportation of
various goods, including agricultural products and construction
materials, via heavy vehicles such as Heavy trucks and Drayage
trucks. This sector is significantly influenced by globalization,
leading to the integration of supply chains and the expansion of
Domestic road haulage. Autonomous driving technology is
revolutionizing the industry, aiming to reduce Delivery fees and
improve efficiency. However, concerns over Diesel engine emissions
and Carbon emissions continue to pose challenges. Bulk distribution
of coal and other commodities, as well as Hoisting and Drayage
services, are essential components of the market. Innovative
vehicles and infrastructure development are key drivers for growth
in this sector.
Market Research Overview
The road haulage market encompasses the transportation of goods
via road using trucks or trailers. This sector plays a crucial role
in the global supply chain, enabling the seamless movement of goods
from one location to another. The market is driven by various
factors, including increasing international trade, e-commerce
growth, and the need for just-in-time delivery. Technological
advancements, such as the integration of telematics and the use of
alternative fuels, are also transforming the industry.
Additionally, regulatory compliance and the implementation of
stringent safety standards are key considerations for market
participants. Overall, the road haulage market is expected to grow
steadily in the coming years, driven by the increasing demand for
efficient and cost-effective logistics solutions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Vehicle Type
-
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Type
-
- Domestic Road Haulage
- International Road Haulage
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio