Road Freight Transport Market Perspective, Comprehensive Analysis, Growth Prospects, Key Vendors and Global Forecast To 2028

According to our latest market study on "Road Freight Transport Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Vehicle Type (Light Truck, Medium Truck, Heavy Truck); End-Users (Automotive, Food and Beverages, Oil and gas, Chemicals, Healthcare, Others) and Geography"

Road freight transport refers to freight shipment or transportation by roadways. This freight transport is one of the most commonly used modes of freight transport. Road freight transport involves a broad range of vehicles like pick-up trucks, lorry tank, refrigerated trucks, truck trailers and flatbed trucks. This freight transport system is cost effective, faster and provides door-to-door service as well. Popular industries that make use road freight transport are food and beverages, automotive, chemicals, oil & gas and healthcare. Considering growing demand for various products, this market is anticipated to experience significant growth in near future.

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Companies Profiled in this report includes: Cargo Carriers Limited,  CEVA Logistics,  CJ Logistics Corporation,  DB SCHENKER,  DHL International GmbH,  KUEHNE + NAGEL,  Kerry Logistics Network Limited,  PRIMAFRIO SL,  United Parcel Service,  XPO Logistics

MARKET SEGMENTATION

  Based on vehicle type, the global road freight transport market is segmented into Light truck, medium truck and heavy truck.

  On the basis of end-users, the market is segmented into automotive, food and beverages, oil and gas, chemicals, healthcare and others.

MARKET DYNAMICS

Drivers

  Growing adoption of industry 4.0 and increasing industrialization.

  Rising urbanization and increasing per capita disposable income to boost growth of road freight transport market.

  Increasing demand for consumer goods all over the world.

Restraints

  Government norms regarding carbon emission.

  Traffic congestion and road conditions in some developing countries.

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IMPACT OF COVID-19 ON ROAD FREIGHT TRASNPORT MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. This pandemic has not only impacted the economic condition of factories and industries but they have also affected the purchasing capacity of the consumer. Since, individual disposable income has declined due to job loss or pay cuts, production has gone down due to less demand. This has directly impacted the road freight transport industry to large extent.

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This release was published on openPR.