The Road Freight Transport Global Market Report 2023, provides comprehensive information on the road freight transport market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Road Freight Transport Global Market Report 2023, the market size is expected to grow from $92.12 billion in 2022 to $98.94 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global road freight transport market size is expected to reach $127.27 billion in 2027 at a CAGR of 6.5%.
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Technological advancements are the key trends gaining popularity in the road freight transport market. Major market players are concentrating their efforts on innovating different technological advancements to sustain their position in the market. For instance, in March 2023, ArcBest Corporation, a US-based holding company for truckload and less-than-truckload freight, launched the Vaux™, a revolutionary freight movement technology that restructures intralogistics procedures to increase efficiency and advance supply chains. This is a cutting-edge combination of technology and software that modernizes and revolutionizes the way goods are loaded, unloaded and moved. With Vaux, a trailer’s full contents may be unloaded in less than five minutes, and the company provides total insight into the movement of goods inside warehouse facilities, on the dock, and the road. Extreme efficiencies are produced, and operations in the warehouse are orchestrated flawlessly.
The road freight transport market is segmented:
1) By Type of Carrier: Full Truckload, Less-Than-Truckload
2) By Vehicle Type: Light Commercial Vehicle, Medium Commercial Vehicle, Heavy Commercial Vehicle
3) By Operation: Domestic, International
4) By End-User: Agriculture, Fishing And Forestry, Construction, Manufacturing, Oil And Gas, Mining And Quarrying, Wholesale And Retail Trade, Other End-Users
North America was the largest region in the road freight transport market in 2022.
The table of contents in TBRC’s road freight transport market report includes:
1. Executive Summary
2. Road Freight Transport Market Characteristics
3. Road Freight Transport Market Trends And Strategies
4. Road Freight Transport Market – Macro Economic Scenario
5. Road Freight Transport Market Size And Growth
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26. Africa Road Freight Transport Market
27. Road Freight Transport Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Road Freight Transport Market
29. Road Freight Transport Market Future Outlook and Potential Analysis
30. Appendix
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