Road Haulage Market Size to grow by USD 1341.4 million between 2024-2028
According to a research report “ Road Haulage Market” by 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)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1341.4 million, at a CAGR of 6.78% during the forecast period. In today's global business landscape, manufacturing companies are broadening their production capacities and geographical reach, leading to escalating logistics demands for transporting raw materials to factories and finished goods to retailers and distributors. However, managing these logistics in-house presents several challenges for shippers. These include complexities in fleet management, a scarcity of skilled drivers, insufficient IT infrastructure, such as Transportation Management Systems (TMS), and operational hurdles. These issues can adversely impact Supply Chain Management (SCM). Nevertheless, the advantages of heightened operational efficiency and cost savings entice shippers to delegate their logistics, either partially or entirely, to Third-Party Logistics (3PL) providers. By outsourcing, companies can concentrate on their core competencies and leave the intricacies of logistics to the experts.
Browse market data tables, figures, and in-depth TOC on “Road Haulage Market” by 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) Global Forecast to 2028. Download Free Sample
By Vehicle Type, the Heavy commercial vehicles segment is projected to dominate the market size in 2024
Domestic road haulage, characterized by the transport of goods between locations within the same country utilizing vehicles registered domestically, is a critical and prevalent mode of freight transportation. The increasing demand for expedited delivery services, including last-mile, next-day, and same-day options, has significantly influenced the market landscape. Approximately half of all domestic parcel deliveries in the US represent last-mile deliveries for e-commerce orders. Consequently, there is a growing trend towards regional logistics solutions, crowdsourcing, and the implementation of digital and smart automation to enhance efficiency and flexibility in the sector. Domestic road haulage offers several advantages, including cost-effectiveness and flexibility, particularly for shorter distances and smaller consignments.
By Type, Domestic road haulage segment is expected to hold the largest market size for the year 2024
In the realm of road haulage, Heavy Commercial Vehicles (HCVs) are employed for transporting larger consignments that occupy more than 50% of a standard 48-foot or 53-foot trailer's capacity. This method, known as full truckload freight transportation, is favored when shippers possess a substantial volume of goods, require time-sensitive deliveries, or deem it economically advantageous compared to alternative shipping solutions. HCVs encompass various types of trucks and trailers, including refrigerated models, used for the transportation of temperature-sensitive commodities. Surface transport carriers, such as trucks and trailers, are responsible for the movement of these goods via HCVs.
APAC is forecasted to hold the largest market size by region in 2024
The road haulage market encompasses the transportation of goods via roadways using trucks or trailers. This sector is a critical component of the global logistics industry, facilitating the movement of commodities between manufacturers, distributors, and consumers. Market growth is driven by factors such as increasing international trade, expanding e-commerce, and the need for just-in-time delivery solutions. Efficient supply chain management and advancements in technology are also key trends shaping the industry.
The Road Haulage Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The road haulage market plays a crucial role in integrated supply chains by transporting goods from one place to another, particularly in the context of globalization. Innovative vehicles, such as heavy trucks with hoisting capabilities and autonomous driving technology, are transforming the industry, making bulk distribution more efficient and cost-effective. Infrastructure development, including drainage systems and construction sites, relies heavily on heavy haulage for the transportation of raw materials like coal and construction supplies. Heavy vehicle drivers operate these heavy trucks, which consume large amounts of diesel fuel, leading to significant diesel engine emissions. Delivery fees, a major concern for businesses, are influenced by factors such as fuel prices and regulatory requirements for carbon emissions. The agricultural sector also depends on heavy haulage for cartage of agricultural products. Despite these challenges, the market continues to evolve, with a focus on reducing carbon emissions and improving efficiency through technological advancements.
Market Research Overview
The Road Haulage Market encompasses the transportation of various goods, including waste, staple foods, petroleum products, ore, and parcels, using transport vehicles such as Medium trucks, Heavy trucks, and Light commercial vehicles. Volvo Trucks, known for their efficiency and safety, are a staple in this industry. Technological advances, such as vehicle-to-vehicle communication, remote diagnostics, and self-driving trucks, are streamlining logistical networks and strategies, reducing delivery fees, and improving customer experience. However, challenges like transportation strikes, traffic accidents, and rising fuel prices pose significant threats to the market. Stringent regulations on emission norms and environmental impact are also driving investments in innovative vehicles and logistical techniques. The e-commerce sector and retail industries are major consumers of transportation services, with quick road transportation and refrigerated haulage being essential for perishable goods. Infrastructure development, including hoisting and crane services, is crucial for heavy haulage and construction projects. Defence and bulk distribution sectors also rely heavily on logistics operators for the transportation of goods. The integration of advanced technologies like autonomous driving and cutting-edge delivery options is revolutionizing the industry, offering safe and efficient solutions to meet the changing demands of consumers and businesses.
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