Press release
Soaring Demand Set to Propel Cross-Border Road Transport Market to $324.58 Billion by 2029
Cross-Border Road Transport
What Is the Expected CAGR for the Cross-Border Road Transport Market Through 2025?
There has been substantial growth in the size of the cross-border road transport market in the past few years. Exhibiting a compound annual growth rate (CAGR) of 6.6%, its value is projected to rise from $238.03 billion in 2024 to $253.79 billion in 2025. This growth in previous years can be credited to the surge in international trade agreements that fuel the demand for cross-border transport. Furthermore, the increase in economic development in emerging markets necessitates improved road logistics. The escalating demand from consumers for swifter delivery times is driving the enlargement of road transport networks. Additionally, the rapidly growing e-commerce sector is leading to a surge in cross-border shipments. Lastly, increased investment in infrastructure development is improving road connectivity across borders.
What's the Projected Size of the Global Cross-Border Road Transport Market by 2029?
There are strong predictions for substantial expansion in the cross-border road transport market over the upcoming years. The market is projected to escalate to $324.58 billion by 2029 with a 6.3% compound annual growth rate (CAGR). Such growth during the forecast period can be accredited to technological breakthroughs in digitalization and logistics that enhance tracking and efficiency, increasing focus on green logistics and sustainable practices which are propelling the application of eco-friendly transport methods, augmented use of artificial intelligence and machine learning for predictive maintenance and route optimization, escalated investment in intelligent transportation infrastructure aiding seamless cross-border operations, and progress in autonomous vehicle technologies elevating safety and efficiency in cross-border road transport. Principal trends during this forecast period include the rise of blockchain technology that bolsters secure and transparent cross-border transactions, the expansion of hybrid and electric trucks addressing environmental issues and cutting down emissions, the creation of advanced vehicle-to-everything (v2x) communication systems bolstering road safety and traffic management, the surge in integration of internet of things (IoT) devices for fleet management and real-time monitoring, and advancement in autonomous driving technology yielding higher efficiency and lower operational costs.
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Top Growth Drivers in the Cross-Border Road Transport Industry: What's Accelerating the Market?
The upward trend in the e-commerce industry is set to bolster the cross-border road transport market in the future. E-commerce, which involves purchasing and selling products and services on the internet through digital platforms, is experiencing growth due to a surge in consumer preference for online shopping convenience along with advancements in digital technology. Cross-border road transport plays a vital role in e-commerce as it ensures efficient delivery of merchandise across international boundaries, betters supply chain management, and offers quick, dependable customer service. As an illustration, the Census Bureau, a US government agency, reported that e-commerce sales saw a rise of 8.5% in May 2024, compared to the same period in the previous year, and accounted for 15.6% of total retail sales which witnessed a 2.8% increase year-over-year. Consequently, it is the expanding e-commerce industry that is fueling the cross-border road transport market growth.
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What Trends Will Shape the Cross-Border Road Transport Market Through 2029 and Beyond?
Leading corporations in the cross-border road transport market are prioritizing zero-emission logistics like electric truck services to secure a leading edge. This refers to the distribution and transportation of commodities using technology and vehicles, such as electric or hydrogen-powered trucks, that emit no direct emissions. The goal of this strategy is to decrease environmental harm and lower carbon footprints in supply chains. For instance, in July 2024, Scan Global Logistics A/S, a logistics firm based in Denmark, introduced an electric cross-border trucking service between Malaysia and Singapore. This service uses trucks capable of going up to 200 kilometers per charge and handling up to 12 tons of freight, positioning it as a green alternative to typical diesel-powered trucks. These electric trucks also employ high-end technology for live tracking and proactive maintenance, thereby improving operational performance.
What Are the Main Segments in the Cross-Border Road Transport Market?
The cross-border road transport market covered in this report is segmented -
1) By Transportation Mode: Freight Transport, Passenger Transport
2) By Cargo Type: Perishable Goods, Non-Perishable Goods, Specialized Cargo
3) By End-user: Manufacturing, Retail And E-commerce, Automotive, Agriculture, Pharmaceuticals And Healthcare, Oil And Gas, Defense And Military Logistics, Individual, Other End-Users
Subsegments:
1) By Freight Transport: Full Truckload (FTI) Transport, Less Than Truckload (LTD) Transport, Containerized Freight Transport, Bulk Freight Transport, Refrigerated Freight Transport
2) By Passenger Transport: International Bus Services, Coach Services, Private Car Transport (Cross-Border), Ride-Sharing And Carpooling Services, Cross-Border Taxi Services
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Which Top Companies are Driving Growth in the Cross-Border Road Transport Market?
Major companies operating in the cross-border road transport market are United Parcel Service Inc., Deutsche Post DHL Group, FedEx Corporation, Deutsche Bahn AG, Kuehne + Nagel International AG, DSV A/S, C.H. Robinson Worldwide Inc., Expeditors International of Washington Inc., Nippon Express Co. Ltd., Sinotrans Limited, Geodis, J.B. Hunt Transport Services Inc., Ryder System Inc., Kerry Logistics Network Limited, Dachser Group SE & Co. KG, XPO Logistics Inc., Toll Group, YRC Worldwide Inc., ArcBest Corporation, Hellmann Worldwide Logistics SE & Co. KG, Mainfreight Limited, Agility Public Warehousing Company K.S.C.P., Bolloré Logistics, CEVA Logistics AG, Rhenus Logistics
Which Regions Will Dominate the Cross-Border Road Transport Market Through 2029?
North America was the largest region in the cross-border road transport market in 2024. The regions covered in the cross-border road transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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