Global Road Haulage Market Size to Exceed USD 4,072 Billion

Los Angeles, CA, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The latest study report from Zion Market has been out, 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” in its research database.

The road haulage market transports goods and freight via truck, lorry, and other commercial vehicles. It helps manufacturers, distributors, retailers, and consumers move goods. Road haulage vehicles, cargo, and locations vary greatly. Fuel prices, regulations, technology, consumer behavior, and global trade patterns affect the road haulage business.

“According to the latest research study, the demand of global Road Haulage Market size & share in terms of revenue was valued at USD 3,879 billion in 2021 and it is expected to surpass around USD 4,072 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.6% during the forecast period 2022 to 2030.”

What is Road Haulage? How big is the Road Haulage Industry?

Road Haulage Report Coverage & Overview:

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.

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Global Road Haulage Market: Growth Dynamics

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.

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Report Scope

Report Attribute	Details
Market Size in 2021	USD 3,879 billion
Projected Market Size in 2030	USD 4,072 billion
CAGR Growth Rate	5.6% CAGR
Base Year	2021
Forecast Years	2022-2030
Key Market Players	Manitoulin Transport Inc., Container Corporation of India Limited, Gosselin Group, Monarch Transport Corporation, Kindersley Transport Ltd., LKW WALTER Internationale Transport Organisation AG, AM Cargo, SLH Transport Inc., UK Haulier, and Woodside Logistics Group
Key Segment	By Type, By Vehicle Type, By Application, And By Region
Major Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options	Request customized purchase options to meet your research needs. Explore purchase options

Road Haulage Market: Segmentation Analysis

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 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

Browse the full “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

Competitive Landscape

Some of the main competitors dominating the global Road Haulage market include -

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

Key Insights from Primary Research:

According to the analysis shared by our research forecaster, the Road Haulage market is likely to expand at a CAGR of around 5.6% during the forecast period (2022-2030).
In terms of revenue, the Road Haulage market size was valued at around US$ 3,879 billion in 2021 and is projected to reach US$ 4,072 billion by 2030.
The road haulage industry market is anticipated to record massive growth over the forecast period due to a prominent increase in transport activities and the rapidly expanding automotive manufacturing industry.
Based on type, the domestic road haulage segment contributed to a major share of the global market in 2022
Based on vehicle type, the light commercial vehicles segment contributed to a major share of the global market in 2022
In terms of application, the food & beverages segment is set to contribute lucratively towards the overall market volume during the predicted timespan.
Region-wise, the Asia-Pacific region is projected to be the key regional revenue driver of the global market during the projected timeframe.

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Key questions answered in this report:

What is the market size and growth rate forecast for Road Haulage industry?
What are the main driving factors propelling the Road Haulage Market forward?
What are the leading companies in the Road Haulage Industry?
What segments does the Road Haulage Market cover?
How can I receive a free copy of the Road Haulage Market sample report and company profiles?

Key Offerings:

Market Size & Forecast by Revenue | 2022−2030
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis By Type, By Vehicle Type, By Application, And By Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

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.

By Region

North America
- U.S.
- Canada
- Rest of North America
Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America

Recent Developments

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.

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FREQUENTLY ASKED QUESTIONS

What is road haulage?
Which key factors will influence global road haulage market growth over 2023-2030?
What will be the value of the global road haulage market during 2023-2030?
What will be the CAGR value of the global road haulage market during 2023-2030?
Which region will record the fastest growth in the road haulage industry globally?
Which are the major players leveraging the global road haulage market growth?

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