Portland, OR, April 19, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the Europe road freight transportation market was pegged at $394.15 billion in 2015, and is estimated to reach $596.92 billion by 2025, growing at a CAGR of 6.5% from 2020 to 2025.
Surge in focus of manufacturers and retailers on core competencies, rise in trading activities due to globalization, and development of the e-commerce industry have boosted the growth of Europe road freight transportation market. However, risk toward goodwill of manufacturers and lack of control of manufacturers on logistics service hinder the market growth. On the contrary, cost-cutting & lead time reduction owing to adoption of the multi-modal system, strategic partnership with end users, and increase in use of IT solutions & software are expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 outbreak resulted in flight cancellations, travel bans, and quarantines, which disrupted the supply chain and logistic activities across the globe.
- The Covid-19 pandemic directly affected the logistic companies that are involved in the movement, storage, and flow of goods.
- The prolonged lockdown across Europe hampered the road freight transportation industry due to decline in the business with closure of national & international borders.
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The Europe road freight transportation market is segmented on the basis of end-use industry, destination, and country. Based on end-use industry, the healthcare segment held the largest share in 2015, accounting for nearly one-fifth of the market. Moreover, the segment is estimated to register the highest CAGR of 7.9% during the forecast period.
On the basis of destination, the domestic segment dominated the market in 2015, contributing to nearly three-fifths of the market. However, the international and cross border segment is projected to manifest the highest CAGR of 7.5% during the forecast period.
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The Europe road freight transportation market is analyzed across several regions such as Germany, France, UK, Italy, Spain, and Rest of Europe. The market across Germany held the lion’s share in terms of revenue, accounting for nearly one-fifth of the market. The market across Spain is estimated to register the highest CAGR of 8.1% during the forecast period.
The Europe road freight transportation market report includes an in-depth analysis of the major market players such as CMA CGM SA, Deutsche Bahn AG, DHL, DSV, KUEHNE + NAGEL, AP Moller Maersk, PRIMAFRIO SL, Turners (Soham) Ltd., UPS, and Wincanton Plc.
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