Global Road Haulage Market - Industry Trends and Forecast to 2029

Road Haulage Market Analysis and Size

The global road haulage market is anticipated to witness significant growth due to rising demand for safe, fast and efficient road transport during the forecast period. Increase in the global production of trucks is enhancing the increasing shipping demand from industries such as manufacturing and retail. Furthermore, trucks are the most responsive, flexible and economical mode of shipping transport preferred by suppliers for the transportation of a variety of goods, which is likely boost the market growth during the forecast period. 

Data Bridge Market Research analyses that the road haulage market was valued at USD 8.90 billion million in 2021 and is expected to reach the value of USD 14.19 billion by 2029, at a CAGR of 6.00% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Road Haulage Market Scope and Segmentation

Market Definition

The activity of moving things or goods from one site to another site through roadways is known as road haulage. Road haulage is extensively used in various industries, such as construction, chemical, retail, petroleum, and others. This includes everything humans might wish to move in bulk from vegetables and other foodstuffs, to coal, clothes, ore, and other supplies.

Global Road Haulage Market Dynamics

Drivers

• Growing usage of road haulage services in multiple applications area

Road haulage services are used in several applications areas in many different industries such as retail, manufacturing, healthcare, automotive, mining and construction, oil and gas, food and beverage and others. The food and beverage segment witnessed for the dominant share which is anticipated to register a promising growth during the forecast period. This growth can be attributed to the growing demand for the perishables such as vegetables, fruits and other commodities overall the globe which is likely to drive the growth of the road haulage market.

• Growth and expansion of e-commerce sector

The developing global online retail industry requires speedy parcel delivery. The introduction of new service requirements, for instance, express deliveries, has resulted in the development of a new class of logistics operators due to the growth of the e-commerce industry. The increasing adoption of smartphones and global internet penetration have also increased the growth of the e-commerce industry which is likely to lead to greater demand for the road haulage and boost the growth of the market during forecast period.

 Furthermore, growing investments in improving the parcel delivery process and increasing industrialization further offer avenues for market expansion. Moreover, increasing population and shift in residential preferences are another major factor expected to drive the demand for road haulage and boost the market's growth during the forecast period.

Opportunities

• Technological advancements

Major market players are focusing on scaling up their goods carrying capacity by launching modern delivery options or partnering with third-party logistics service providers. Companies are also emphasizing on improving their consumer experience and are reducing the operational costs of their road haulage services by using some advance technologies such as Global Positioning System GPS and automated cars. Moreover, haulage companies are also setting up operations centers to store goods and vehicles and conduct any vehicle maintenance to enhance the business process.

 Furthermore, growth in transportation and automation industry will further create many growth opportunities for the road haulage market in the above mentioned forecast period.

Restraints

• Environmental concern

The major challenge for the growth of the road haulage market is the environmental impact of truck diesel engines, which harm the atmosphere and violate emission norms. This is foremost challenging factor for the growth of the road haulage market.

Moreover, shortage of heavy vehicles and significant increase in road injuries are some major factors that will act as market restraint and further challenge the market's growth during the forecast period of 2022-2029.

This road haulage market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the road haulage market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Road Haulage Market

The outbreak of COVID-19 has adversely affected the global road haulage market. The transportation for critical supplies such as groceries and medications to local locations has restricted during the pandemic around the world. As other routes of cargo transportation such as waterways and airways have been restricted by the majority of governments. On the other side, the demand for the road transport has grown dramatically which drive the growth of the haulage market to new heights. Also, numerous government increases gasoline costs to recover financial losses expected to stifle the market's growth.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In June 2022, Volvo Trucks launched several advanced technologies and focused on enabling accurate driving in confined quarters and slippery or bumpy roads.
• In April 2022, the Union Minister Nitin Gadkari introduced seven national highway projects in Aurangabad, recognized as one of Maharashtra's leading industrial and educational hubs. Accordig to the union minister, the Aurangabad district's growth is anticipated to be enhanced by the construction of these national transportation projects.

Global Road Haulage Market Scope

The road haulage market is segmented on the basis of type, vehicle and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• International Road Haulage
• Domestic Road Haulage

Vehicle

• Light Commercial Vehicles
• Heavy Commercial Vehicles

 Application

• Mining and Construction
• Oil and Gas
• Food and Beverage
• Retail
• Manufacturing
• Healthcare
• Automotive
• Others

Road Haulage Market Regional Analysis/Insights

The road haulage market is analysed and market size insights and trends are provided by country, type, vehicle and application as referenced above.

The countries covered in the road haulage market report are report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the road haulage market in terms of revenue growth and market share due to the region's increased foreign investment and improved road infrastructure. Furthermore, the rapidly mounting e-commerce sector in developing countries such as India and China continues to propel the growth for efficient road transportation facilities in this region.

North America is projected to be the fastest developing region during the forecast period of 2022-2029 due to the growing number and scope of trade activities with the massive highway network in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Road Haulage Market Share Analysis

The road haulage market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to road haulage market.

Some of the major players operating in the road haulage market are:

• CONCOR (India)
• Kindersley Transport Ltd. (U.S.)
• Gosselin Group (Belgium)
• LKW WALTER (Austria)
• Monarch Transport (Canada)
• AM Cargo (Spain)
• Manitoulin Transport Inc. (Canada)
• SLH Transport Inc. (Canada)
• Woodside Logistics Group (U.K.)
• UK Haulier (U.K.)

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