The global road haulage market size is expected to reach USD
4,071.7 billion by 2025, registering a CAGR of 5.5% from 2019 to 2025 according
to a study conducted by Grand View Research, Inc. The increasing demand for
preserved commodities, fresh food, and perishable goods, coupled with the
flourishing e-commerce industry, has triggered the demand for road haulage
services. These factors are anticipated to drive the market in the coming
years.
The steady expansion of the automotive and
transportation industries over the years has also spurred the demand for road
haulage services in recent years. Rising population and shift in residential
preferences are also key factors that are expected to fuel market growth.
Numerous technological advancements such as vehicle-to-vehicle communication,
integrated supply chain, remote diagnostics, and autonomous driving are
optimizing road transportation and increasing cargo throughput.
Additionally, the availability of several
online support services such as GPS tracking and google maps are expected to
augment the adoption of road haulage services. The rising demand for food
commodities, local deliveries, agricultural goods, and wholesale product
deliveries are anticipated to provide significant growth opportunities for the
players present in the market.
Professional road haulage services are
cost-efficient, easy to track, involve low idle period, offer doorstep
deliveries and highly safe cargoes, and are capable of using different routes.
Such benefits are encouraging the adoption of these services in manufacturing,
petroleum, and infrastructure arenas. Furthermore, steadily expanding global
and cross-border trade are spurring market growth. Reduction in vehicle and
fuel taxes in certain countries are further boosting the adoption of road
transportation.
The market is highly fragmented and
characterized by high competition with the presence of established local and
regional players. Companies are focusing on offering the most cost-effective,
flexible, and efficient services to customers. Companies are also focusing on
partnerships and mergers, with medium-sized operators to strengthen their
market presence. Key players operating in the market are focusing on enhancing
their global logistics networks. Numerous companies are undergoing mergers and
acquisitions with third-party logistics services to provide more value-added
services to customers. For instance, in May 2018, Alibaba group invested USD
1.38 billion in ZTO express to strengthen its transportation and logistics
network and ensure quick parcel deliveries in China.
However, the escalation of fuel prices and
fuel levies in certain economies are hindering the market growth. Moreover, a
massive shortage of Heavy Goods Vehicle (HGV) drivers is reducing productivity
and causing delays in the transportation of goods. These factors are further
expected to challenge the growth prospects of the market.
Browse full research report on Road
Haulage Market:
https://www.grandviewresearch.com/industry-analysis/global-road-haulage-market
Further key
findings from the study suggest:
- In terms of the
vehicle type, the light commercial vehicles segment is expected to grow
prominently by 2025, registering a CAGR of more than 6% from 2019 to 2025.
The significant increase in the adoption of light goods vehicle (LGVs)
corresponds to the growing e-commerce industry, which requires quick
deliveries of retail goods
- The domestic road
haulage segment is expected to grow at a CAGR exceeding 5% from 2019 to 2025.
This prominent growth is due to the increased deliveries of food
commodities and other retail goods
- The food & beverage
application segment is expected to register a promising CAGR owing to the
rising transport of agricultural products such as bulk food commodities
and field produce
- The Asia Pacific
regional market is expected to witness substantial growth prospects and a
CAGR exceeding 6% during the forecast period. This can be attributed to
the robust roadways infrastructure and connectivity in the region
- Countries such as
China and India witness high volumes of export and import of goods, which
requires quick and cost-efficient freight transportation. In addition,
legislative initiatives for road transport and flexible international
transport policies in the Asia Pacific region are further contributing to
market growth
- Key players
operating in the market include CONCOR, Kindersley Transport Ltd.,
Gosselin Group, Monarch Transport, AM Cargo, Manitoulin Group of
Companies, SLH Transport Inc., Woodside Logistics Group, and UK Haulier.
Get request sample of this report here : https://www.grandviewresearch.com/industry-analysis/global-road-haulage-market/request/rs1
Grand
View Research has segmented the road haulage market based on type, vehicle type,
application, and region:
Road Haulage
Type Outlook (Revenue, USD Billion, 2014 - 2025)
- International Road
Haulage
- Domestic Road
Haulage
Road Haulage
Vehicle Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Light Commercial
Vehicles
- Heavy Commercial
Vehicles
Road Haulage
Application Outlook (Revenue, USD Billion, 2014 - 2025)
- Mining &
Construction
- Oil & Gas
- Food & Beverage
- Retail
- Manufacturing
- Healthcare
- Automotive
- Others
Road
Haulage Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
No comments:
Post a Comment