New York, US, Sept. 11, 2023 (GLOBE NEWSWIRE) -- As per an Extensive Research Report by Market Research Future (MRFR), Road Haulage Market Information By Type, Vehicle Type, End User, and Region - Forecast till 2032”, The road haulage market might expand from USD 3340.9 Billion in 2023 to USD 5284.8 Billion by 2032, capturing a CAGR of 5.90% during the study period (2023 - 2032)
Road Haulage Market Synopsis
The business of delivering things by road is referred to as road haulage. Growing demand for goods in sectors like manufacturing and retail has been accompanied by a notable expansion in worldwide truck production. Distributors chose trucks as the most adaptable, quick, and cost-effective means of freight transportation for the movement of a variety of goods. Numerous businesses, including those in the mining and construction, oil and gas, food and beverage, retail, manufacturing, healthcare, and vehicles, require road transportation services. Additionally, the development of the automotive and transportation industries has significantly aided in market expansion.
Market Competitive Landscape:
The top road haulage service providers in the worldwide market are
- Manitoulin Transport Inc.
- Woodside Logistics Group
- SLH Transport Inc.
- Gosselin Group
- LKW WALTER International Transport organization AG
- AM Cargo
- Kindersley Transport Ltd.
- UK Haulier
- Monarch Transport
- CONCOR
- Among others.
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To increase their clientele, road haulage businesses concentrate on incorporating logistics technology into their transportation offerings. The pricing war amongst the leading companies in this industry has become more intense as a result of the reduction in freight rates. In order to lower the operational expenses of road transport services, companies in the road haulage business are also placing a strong emphasis on enhancing the client experience. These technologies include autonomous cars and GPS. In addition, several technical advancements like autonomous driving, vehicle-to-vehicle communication, and smart supply chains are transforming the transport sector and increasing demand for road haulage services worldwide.
Road Haulage Market USP Covered:
Market Drivers:
The haulage market is anticipated to expand quickly as a result of the rise in demand for quick, secure, and effective road transportation. The expansion of the transport and automotive sectors has accelerated the expansion of the haulage market. In addition, commercial vehicles, logistics systems, and distribution methods are being gradually implemented by road transport companies. The number of companies offering transport services is rising in various nations. These are a few additional elements that are anticipated to support the expansion of the world road haulage market over the course of the projection.
Fast parcel delivery is necessary for the expanding worldwide online retail market. A new class of logistics operators has emerged as a result of the expansion of the e-commerce sector due to the introduction of new service requirements, such as quick delivery. The outstanding future growth prospects of the e-commerce industry are projected to increase demand for road haulage during the projection period due to increased smartphone adoption and global internet penetration.
Road Haulage Market Report Scope:
| Report Metrics | Details |
| Market Size 2032 | USD 5284.8 Billion |
| CAGR during 2023-2032 | 5.90% CAGR |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Vehicle Type, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Opportunities | Rise of Autonomous Vehicles |
| Key Market Dynamics | Global economic interdependence has produced supply chains that are more intricate and sophisticated. |
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Market Restraints:
The need to comply with strict emission regulations, a severe lack of heavy-duty vehicle drivers, an increase in the price of diesel, and a significant risk of traffic accidents are all predicted to impede market expansion.
COVID 19 Analysis
Since there was no demand during COVID-19 and road haulage companies lost a lot of money, economic factors affected the market, including purchasing power, directly influence market growth. Road haulage firms are directly impacted by the pandemic's effects on the manufacturing sector because of the restricted people movement around the world and the complete lockdown in certain nations, notably India. Due to the entire lockdown and the lack of truck drivers and workers, road haulage companies suffered severe losses. Transport on the national and international levels has been restricted as a result of the lockdown that has been imposed throughout several nations. Road haulage companies were hit, and this had a substantial influence on the supply chains of many different industries.
Road Haulage Market Segmentation
By Type
International road haulage and domestic road haulage are two types of road haulage that are segmented in the global market for road haulage. In 2022, the market was dominated by domestic road haulage.
By Vehicle Type
Light commercial vehicles and heavy commercial vehicles are included in the market segmentation for road haulage around the world.
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By End User
The mining and construction, oil and gas, food and beverage, retail, manufacturing, healthcare, automotive, and other end users are included in the worldwide road haulage market segmentation by end user.
Regional Insights
In 2022, the worldwide market was headed by North America (45.80%). The United States and Mexico both have a large number of manufacturing centers, including those for the automotive, electronics, and aerospace industries. Effective road haulage services are necessary for delivering raw materials, components, and finished items to assembly plants and distribution centers.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
