Road Logistics Market to Grow at 3.1% CAGR, Reaching $942.57 Billion by 2029

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Road Logistics Market Outlook: How is the Market Expected to Grow by 2025?
The size of the road logistics market has been consistently expanding over the previous years. The market is expected to rise from $803.36 billion in 2024 to $833.93 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.8%. The historic period growth can be traced back to the emergence of platform-based logistics, enhanced transport infrastructure quality and a focus on improving the customer experience.

Road Logistics Market Forecast: What Size Will It Reach By 2029?
Anticipated steady expansion is on the cards for the road logistics market size, projected to increase to a worth of $942.57 billion by 2029. This expansion, at a compound annual growth rate (CAGR) of 3.1%, is thought to be driven by a combination of factors expected to occur in the forecast period, including augmented consumer expectations, infrastructure growth, the rise of e-commerce and increasing demand from the healthcare industry. Moreover, the forecast period is likely to see dominant trends like technological advancements, product innovations, partnerships, and investments.

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Which Key Market Drivers Will Shape Road Logistics Industry Trends in 2025-2029?
The surge in e-commerce is set to spur the expansion of the road logistics market. E-commerce, which refers to the process of buying and selling goods and services over the internet, necessitates an online transaction between two entities usually a business and a customer for the fulfillment and payment of the goods or services. The predominant mode of transportation for e-commerce, specifically for last-mile deliveries and suppliers shuttling goods for distribution, is road freight, underscoring the paramount importance of road logistics in the e-commerce realm. The boom in e-commerce and the subsequent need for swift delivery times present a golden chance for logistics firms to tweak their delivery schedules. As an illustration, the Census Bureau of the Department of Commerce, a governmental body in the United States, reported in February 2024 that e-commerce estimations for the fourth quarter of 2023 saw a rise of 7.5% (±1.2%) compared to the same period in 2022, while the total retail sales during the same period witnessed an increase of 2.8% (±0.4%). Consequently, the burgeoning e-commerce industry is fuelling the growth of the road logistics market.

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What Are the High-Growth Segments in the Road Logistics Market?
The road logistics market covered in this report is segmented -

1) By Type: Truckload, Less Than Truckload, Parcel, Same Day
2) By Application: Domestic, International
3) By End User: Industrial And Manufacturing, Retail, Healthcare, Oil And Gas

Subsegments:
1) By Truckload (TL): Full Truckload (FTL) Services, Dedicated Truckload Services
2) By Less Than Truckload (LTL): Consolidated Freight Services, Terminal-To-Terminal Services
3) By Parcel: Domestic Parcel Delivery, International Parcel Delivery, Same-Day Parcel Services
4) By Same Day: Same-Day Delivery Services, Same-Day Freight Services, On-Demand Delivery Solutions

Which Global Trends Are Driving Road Logistics Market Expansion?
Leading firms in the road logistics industry are emphasizing the creation of superior solutions, such as smart booking procedures, to stand out among competitors. This feature enables the system to recall particular booking workflows performed by consumers, drastically cutting down booking duration and boosting productivity. For instance, myKN Booking, a logistics firm based in Switzerland, unveiled its digital freight booking platform for road logistics in the Middle East and Africa (MEA) in November 2023, indicative of the rising trend in online freight solutions. This step is a constituent of a larger shift towards internet-based logistics services, which have garnered popularity due to their effectiveness and user-friendliness.

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Who Are the Fastest-Growing Companies in the Road Logistics Industry?
Major companies operating in the road logistics market are DHL International GmbH, Deutsche Post AG, United Parcel Service Inc., FedEx Corp., Xiamen Xiangyu Co. Ltd., CEVA Logistics Inc., Kuehne Nagel Management AG, Noatum Logistics USA LLC, Penske Corp., C H Robinson Worldwide Inc., J.B. Hunt Transport Services Inc., Ryder System Inc., XPO Logistics Inc., Knight Swift Transportation Holdings Inc., Schneider National Inc., ArcBest Corp., Yellow Corp., GEFCO S.A., Saltchuk, Werner Enterprises Inc., Bennett International Group LLC, AAA Cooper Transportation Inc., Agility Public Warehousing Co. K.S.C.P, Quantix SCS Inc., Acme Truck Line Inc., LT Harnett Trucking Inc., RD Logistics Inc., World Trade Logistics Inc., Cannon Logistics LLC, Sea Transport Management WA, Just International Logistics Co. Ltd.

What Is the Regional Outlook for the Road Logistics Market by 2029?
Asia-Pacific was the largest region in the road logistics market in 2024. The regions covered in the road logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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