Road freight transport market to grow at a CAGR of 6.03%; Driven by rapid growth in the e-commerce industry

NEW YORK, Feb. 14, 2023 /PRNewswire/ — The road freight transport market size is forecast to increase by USD 130.56 billion from 2022 to 2027, at a CAGR of 6.03%, according to the recent market study by Technavio. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 312.15 billion. The growth of the market will be driven by the rapid growth in the e-commerce industry, growing retail sales in APAC, and increasing cross-border trade. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including AlkomTrans, Cargo Carriers Ltd., CEVA Logistics AG, CJ Logistics Corp., Deutsche Bahn AG, Deutsche Post AG, DSV AS, FedEx Corp., Fercam Spa, First European Logistics Ltd., Ital Logistics Ltd., J.B. Hunt Transport Services Inc., Kerry Logistics Network Ltd., KLG Europe, Kuehne and Nagel International AG, NGL Gondrand Group SA, Nippon Express Holdings Inc., Overland Total Logistics Services Sdn. Bhd., SNCF Group, and Yellow Corp.

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Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

• It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.

• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.

• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.

• Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by vehicle type (medium, heavy commercial vehicle, and light commercial vehicle), end-user (manufacturing, automotive, consumer goods, food and beverage, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Segmentation by Vehicle Type (Inclusion/Exclusion)

• The medium vehicle segment is projected to register significant growth over the forecast period. Major business activities in this segment include the movement of goods by surface transport carriers, such as trucks and trailers. In addition, refrigerated trucks used for the transportation of temperature-sensitive products also generate significant revenue in this sector.

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What are the key data covered in this road freight transport market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the road freight transport market between 2023 and 2027

• Precise estimation of the size of the road freight transport market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the road freight transport market industry across APAC, North America, Europe, Middle East and Africa, and South America

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of road freight transport market vendors

Related Reports:

• The less-than-truckload (LTL) market is estimated to grow at a CAGR of 7% between 2022 and 2027. The size of the market is forecast to increase by USD 103.05 billion. The increased outsourcing of logistics services is notably driving the market growth, although factors such as the implementation of the ELD mandate may impede the market growth.

• The truck-as-a-service market is estimated to grow at a CAGR of 17.76% between 2022 and 2027. The size of the market is forecast to increase by USD 18,499.77 million. The digital transformation in the trucking industry is notably driving the market growth, although factors such as a shortage of truck drivers may impede the market growth.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Vehicle Type

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
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.

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Technavio Research
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Website: www.technavio.com/

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SOURCE Technavio