Authored By: Sarah
11 Jul 2024

 Road Logistics Market Size to grow by USD 710.3 billion between 2024-2028

According to a research report “ Road Logistics Market” by Application (Domestic, International) Type (Truckload, Less than truckload, Parcel, Same day) 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 710.3 billion, at a CAGR of over 3.2% during the forecast period. The global road logistics market is witnessing a significant shift towards green logistics solutions due to increasing concerns over environmental sustainability and reducing carbon emissions. Vendors are adopting eco-friendly strategies, such as the use of electric vehicles, to minimize their carbon footprint and enhance their brand image. For instance, Deutsche Post DHL Group's partnership with StreetScooter GmbH in May 2019 to develop an electric vehicle with hydrogen technology is a prime example of this trend. The rising demand for green logistics is expected to fuel market growth during the forecast period. Green logistics not only helps vendors reduce expenses but also contributes to profitability by catering to the growing demand for sustainable transportation solutions.

Browse market data tables, figures, and in-depth TOC on “Road Logistics Market” by Application (Domestic, International) Type (Truckload, Less than truckload, Parcel, Same day) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Application, the Domestic segment is projected to dominate the market size in 2024

The Road Logistics Market encompasses the transportation of goods via roadways, a crucial segment in the global logistics industry. This market is driven by factors such as increasing consumer expectations for faster delivery times and the growth of e-commerce. Key players in this sector invest in advanced technologies like real-time tracking and route optimization to enhance efficiency and customer satisfaction. The market's future growth is promising, with continuous improvements in infrastructure and regulatory frameworks.

By Type, Truckload  segment is expected to hold the largest market size for the year 2024

The Road Logistics Market encompasses the transportation of goods via roadways, a crucial segment of the global logistics industry. This market is characterized by significant growth, driven by factors such as increasing international trade, expanding e-commerce, and the need for efficient and timely deliveries. Key players in this market prioritize fleet optimization, technology integration, and regulatory compliance to maintain a competitive edge.

APAC is forecasted to hold the largest market size by region in 2024

The road logistics market encompasses the transportation of goods via roadways, a critical segment of the global logistics industry. Key players in this market leverage advanced technologies such as real-time tracking systems, route optimization software, and automated dispatch solutions to enhance operational efficiency and customer service. Market growth is driven by factors including increasing international trade, e-commerce expansion, and the need for timely and cost-effective delivery solutions.

The Road Logistics 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:

  • Acme Truck Line Inc.
  • Agility Public Warehousing Co. K.S.C.P
  • ArcBest Corp.
  • Bennett International Group LLC
  • C H Robinson Worldwide Inc.
  • Deutsche Post AG
  • FedEx Corp.
  • J B Hunt Transport Services Inc.
  • Knight Swift Transportation Holdings Inc.
  • Kuehne Nagel Management AG
  • Penske Corp.
  • Quantix SCS Inc.
  • RD Logistics
  • Ryder System Inc.
  • Saltchuk
  • Schneider National Inc.
  • United Parcel Service Inc.
  • Werner Enterprises Inc.
  • XPO Inc.
  • Yellow Corp.
.

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Research Analysis Overview

The road logistics market encompasses the use of fleets for road transportation of goods, competing with air freight and sea freight. Fleet management software optimizes operations, reducing costs and improving efficiency. E-vehicles are increasingly adopted for sustainable logistics, but permits and insurance premiums remain challenges. Packing and kitting services prepare goods for transport, while GST regulations impact pricing. Small fleet owners and real estate developers are significant customers, with domestic flow corridors crucial for road freight. The VAS (Value-Added Services) market includes express, courier parcel, and warehousing services. Temperature-controlled and non-temperature-controlled trucks handle solid and fluid goods, with short and long hauls serving various industries. Non-containerized and containerized solutions cater to full-truck-loads, less than truck-loads, and same-day parcel deliveries. Neighboring countries' regulations and policies, such as the Scrappage Policy, impact cross-border trade. Domestic road freight remains a vital component of the logistics ecosystem, serving various industries and goods, including Less than-Truck-Load (LTL) and Truckload (TL) shipments.

Market Research Overview

The Road Logistics Market encompasses the transportation of goods via fleets on roads, competing with Air Freight and Sea Freight. Fleet Management Software optimizes operations, while E-vehicles reduce fuel costs and emissions. Permits, insurance premiums, and EMI are key expenses. Packing, assembling, kitting are crucial pre-delivery processes. The Asset Light Model, GST, Scrappage Policy, and LFOs, MFOs, SFOs impact small fleet owners and real estate developers. Neighboring countries and domestic flow corridors drive Road Freight growth. The VAS Market, Express market, and Courier Parcel sectors thrive, requiring warehousing. High inflation, oil marketing companies, and VAT cuts impact freight pricing. Truckers face tax hikes, fuel costs, and urbanization pressures. E-commerce, middle-class population growth, manufacturing exports, and freight transport volume shape market dynamics. Temperature-controlled and non-temperature-controlled, solid and fluid goods, short and long haul, non-containerized and containerized, less than truckload, and full-truck-load segments cater to diverse client needs. Same-day parcel and less than truckload services are popular. Domestic freight transport remains a significant contributor.

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Email: media@technavio.com
Website: www.technavio.com/

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