Latest News- Road Freight Transportation Market in Europe: Medium and heavy commercial vehicle is expected to lead the Vehicle Type segment during 2025-2029
The Road Freight Transportation Market in Europe is being driven by High significance of road freight in intermodal transportation
The Road Freight Transportation Market in Europe is expected to grow at a CAGR of 1.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 41.2 billion. The European road freight transportation sector is undergoing a significant digital transformation, fundamentally altering the way supply chains function. This evolution encompasses the integration of advanced digital technologies throughout transportation operations. At the heart of this trend are technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), data analytics, and blockchain. AI and data analytics empower predictive insights and real-time decision-making by analyzing voluminous data to optimize routes, forecast demand, and allocate resources effectively. The IoT links devices, vehicles, and equipment, enabling real-time tracking, remote monitoring, and uninterrupted communication among all stakeholders.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Vehicle Type (Medium and heavy commercial vehicle, Light commercial vehicle) Product (Food and beverages, Metals and mining, Dangerous goods, Agriculture, Others) Geography (Europe).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Road Freight Transportation Market in Europe Research Report
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The European road freight transportation market encompasses the transport of goods via trucks and vans, providing door-to-door delivery services for various products in the manufacturing sector and e-commerce industry. Production trends indicate a rise in cargo transportation between domestic and neighboring countries due to economic recovery and trade agreements. The volume of road freight transportation is increasing, with projects focusing on improving roadways and logistics for efficient movement of goods and services between European nations.
The European road freight transportation market encompasses the trucking, van, and cargo logistics sectors. According to Technavio's market analysis, the size of the European cargo ground transportation market is determined by the consolidated revenue of businesses engaged in goods and freight transportation, encompassing truck, van, and cargo logistics companies. Key growth drivers for this market include the escalating demand for door-to-door delivery services and the surge in e-commerce, leading to a significant increase in the transportation of goods. The continuous expansion of the global economy is anticipated to result in a substantial rise in the volume of goods transported, particularly in emerging economies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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