Press release
Prominent Road Freight Transport Market Trend for 2025: A New Standard In Freight Transport For Intralogistics Efficiency And Visibility In Supply Chains
Road Freight Transport Global Market Share
The rise in cross-border commerce is predicted to fuel the expansion of the road freight transport market in the future. Cross-border commerce entails the process of selling a product from one nation to another through B2C, which involves the import, export or transit of power or capacity as sanctioned by the license conditions. Road transport plays a pivotal role in cross-border commerce since it facilitates the movement of goods, enhances connectivity, and fosters economic growth. For example, the Bureau of Transportation Statistics, a US government agency, reported that in 2022, U.S. international trade amounted to $6.5 trillion, out of which Canada and Mexico contributed 24% or $1.57 trillion, equivalent to 654 million tons in freight, as of August 2023. Hence, the acceleration in cross-border commerce contributes to the expansion of the road freight transport market.
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What is the future CAGR of the road freight transport market, and how will it impact industry expansion?
Over the past few years, the market size of road freight transport has been experiencing vigorous growth. It is projected to increase from $104.08 billion in 2024 to $110.75 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. Factors such as economic expansion, advancements in infrastructure, regulatory dynamics, globalization, fluctuations in fuel prices, and consumer behavior have contributed to this notable growth in the historical period.
In the coming years, the market size of road freight transport is anticipated to experience robust growth. The market is predicted to expand to "$146.97 billion in 2029, with a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this predicted growth during the forecast period include sustainability strategies, investment in infrastructure, urbanization, resilience of the supply chain, and changes in regulation. Key trends projected during this timeframe encompass digitalization and automation, environmentally friendly initiatives and sustainable practices, the surge in e-commerce, resilient and visible supply chains, and cooperative logistics.
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What are the most significant trends transforming the road freight transport market today?
Innovations in technology are becoming increasingly popular in the road freight transport market, a key trend that major players in the market are focussing on to maintain their market presence. One example of this trend in action took place in March 2023 when the US-based holding company for truckload and less-than-truckload freight, ArcBest Corporation, introduced Vaux. This groundbreaking freight movement technology revolutionizes intralogistics processes to enhance efficiency and progress supply chains. Vaux represents a state-of-the-art blend of technology and software that transforms the method of loading, unloading and transporting goods. Its capabilities include unloading the entire contents of a trailer in under five minutes while offering comprehensive visibility into the movement of goods in warehouse facilities, on the dock and on the road. The result is unparalleled efficiency and seamless warehouse operation management.
Which key market segments comprise the road freight transport market and drive its revenue growth?
The road freight transport market covered in this report 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
Subsegments:
1) By Full Truckload (FTL): Standard FTL, Temperature-Controlled FTL, Flatbed FTL, Dedicated FTL
2) By Less-Than-Truckload (LTL): Standard LTL, Expedited LTL, Scheduled LTL, Guaranteed LTL
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What regions are at the forefront of road freight transport market expansion?
North America was the largest region in the road freight transport market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global road freight transport market report during the forecast period. The regions covered in the road freight transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the road freight transport market?
Major companies operating in the road freight transport market include Cargo Carriers Ltd., CEVA Logistics AG, CJ Logistics Corp., Deutsche Bahn AG, FedEx Corp., Fercam Spa, Ital Logistics Ltd., J.B. Hunt Transport Services Inc., Kerry Logistics Network Ltd., KLG Europe, Kuehne and Nagel International AG, Nippon Express Holdings Inc, United Parcel Service Inc., Yellow Corporation, First European Logistics Ltd., Alkom-Trans SIA, DHL Supply Chain, C.H. Robinson Worldwide Inc., XPO Logistics Inc., Schneider National Inc., Old Dominion Freight Line Inc., Knight-Swift Transportation, Landstar System Inc., Werner Enterprises Inc., Saia Inc., Estes Express Lines, ArcBest Corporation, Ryder System Inc., Southeastern Freight Lines, ABF Freight System Inc., Roadrunner Transportation Systems Inc., Averitt Express Inc., Dayton Freight Lines Inc., Holland Inc., Pitt Ohio Express, R+L Carriers, Crete Carrier Corporation, CRST International Inc., Heartland Express Inc., Bison Transport Inc., Wilson Logistics Limited
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What Is Covered In The Road Freight Transport Global Market Report?
• Market Size Forecast: Examine the road freight transport market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the road freight transport market for a structured understanding.
• Key Players Overview: Analyze major players in the road freight transport market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the road freight transport market.
• Segment Contributions: Evaluate how different segments drive overall growth in the road freight transport market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the road freight transport market.
• Industry Challenges: Identify potential risks and obstacles affecting the road freight transport market.
• Competitive Landscape: Review strategic developments in the road freight transport market, including expansions, agreements, and new product launches.
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