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Increasing Cross-Border Trade Ignites Growth In The Road Freight Transport Market: An Emerging Driver Transforming The Road Freight Transport Market Landscape
Road Freight Transport
What Is the Projected Growth of the Road Freight Transport Market?
The Road Freight Transport Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Road Freight Transport Market?
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What Are the Different Road Freight Transport Market Segments?
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 Are the Primary Drivers Shaping the Road Freight Transport Market?
The expansion of cross-border commerce is seen as a key factor in the anticipated growth of the road freight transport market. The term cross-border trade is used to describe the process of selling a product from one country to another through B2C, which includes importing, exporting, or the transit of capacity as outlined in the terms of the license. Road transport plays a significant role in cross-border commerce, facilitating the movement of goods, improving connectivity, and stimulating economic growth. As an example, the Bureau of Transportation Statistics, an American government institution, revealed in August 2023 that U.S. international trade reached $6.5 trillion in 2022. Canada and Mexico made up 24%, or $1.57 trillion, which involved moving 654 million tons of freight. As a result, the burgeoning cross-border commerce is propelling the development of the road freight transport sector.
Which Companies Are Leading 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
What Are the Major Trends Shaping the Road Freight Transport Market?
Key advancements in technology are emerging as the primary trends in the road freight transport market. Major players in this market are focusing their energies on the development of new technologies to maintain their market standing. For instance, March 2023 saw the launch of 'Vaux', a ground-breaking freight movement solution by ArcBest Corporation - a US-based holding company specializing in truckload and less-than-truckload freights. Vaux signifies an avant-garde blend of tech and software that overhauls and transformationally enhances the system of loading, unloading, and transporting goods. The technology allows a trailer to be unloaded in under five minutes, delivering total insight into the flow of goods within warehouse facilities, at the dock, and on the road. This leads to enhanced efficiencies, enabling seamless management of warehouse operations.
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What Are the Top Revenue-Generating Geographies in the Road Freight Transport Market?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Road Freight Transport Market?
2. What is the CAGR expected in the Road Freight Transport Market?
3. What Are the Key Innovations Transforming the Road Freight Transport Industry?
4. Which Region Is Leading the Road Freight Transport Market?
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