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Increasing Cross-Border Trade Ignites Growth In The Road Freight Transport Market: The Driving Engine Behind Road Freight Transport Market Evolution in 2025
Road Freight Transport
Road Freight Transport Market Size Growth Forecast: What to Expect by 2025?
The market size of road freight transport has robustly expanded in the preceding years. It is expected to surge from $104.08 billion in 2024 to $110.75 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.4%. Factors such as economic expansion, enhancement of infrastructure, regulatory framework, global interconnectedness, fuel price fluctuations, and consumer behavior have contributed to this growth during the historic period.
How Will the Road Freight Transport Market Size Evolve and Grow by 2029?
It is anticipated that the size of the road freight transport market will witness substantial growth in the forthcoming years. The market is predicted to expand to "$146.97 billion by 2029, progressing at a compound annual growth rate (CAGR) of 7.3%. The expansion during this forecast period can be credited to factors such as sustainability efforts, development in infrastructure, urbanization phenomena, supply chain robustness, and regulatory alterations. Leading trends for the anticipated period include the progression of digitalization and automation, green initiatives and sustainability, the surge in e-commerce, resilience and transparency of supply chain, and cooperative logistics.
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What Drivers Are Propelling the Growth of Road Freight Transport Market Forward?
The growth of the road freight transport market is anticipated to be fueled by the expansion of cross-border trade. Cross-border trade involves the sale of a product from one country to a buyer in another, facilitated by B2C, encompassing the import, export or transit of capacity or energy as per the terms of the license. Road transport plays a vital role in cross-border trade as it enhances commodity movement, boosts connectivity and fosters economic development. For example, the Bureau of Transportation Statistics, a US government agency, reported in August 2023 that U.S. international trade reached a total of $6.5 trillion in 2022. Of this, Canada and Mexico made up 24%, amounting to $1.57 trillion, over 654 million tons in freight. Consequently, the upsurge in cross-border trade is stimulating the growth of the road freight transport market.
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Which Emerging Trends Are Transforming the Road Freight Transport Market in 2025?
Innovations in technology are increasingly becoming popular trends within the road freight transport industry. Preserving their market standings, leading companies are focusing on creating novel technical advancements. For example, in March 2023, the US-based holding company ArcBest Corporation, known for truckload and less-than-truckload freight, introduced Vaux. This innovative freight movement technology reshapes internal logistics processes to enhance efficiency and improve supply chains. Vaux is a state-of-the-art fusion of technology and software that modernizes and transforms the way goods are handled, from loading to unloading and transportation. Thanks to Vaux, it is possible to empty a trailer's full load in less than five minutes, and the company offers comprehensive visibility of the goods' movements within warehouse premises, on the dock, and on the road. This results in exceptional efficiencies and seamless warehouse operations.
What Are the Key Segments in the Road Freight Transport Market?
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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Who Are the Key Players Shaping the Road Freight Transport Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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
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