Global Road Haulage Market Report and Forecast 2024-2032

Global Road Haulage Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global road haulage market is projected to grow at a CAGR of 5.9 between 2024 and 2032. Aided by growing popularity of electric truck and vehicles and improvement in roadways worldwide, the market is expected to grow significantly by 2032.

Road haulage pertains to the transportation of goods by road, predominantly using trucks and lorries. As one of the most versatile and direct modes of transportation, road haulage has consistently been the preferred choice for many industries, particularly when distances are moderate, and timely deliveries are paramount. The versatility of road transport, which can handle both short hauls and long hauls, combined with its door-to-door delivery capability, has established its undeniable importance in the logistics chain.

One of the most influential factors propelling the global road haulage market growth is the astronomical growth of e-commerce. As consumers continue to prefer online shopping for its convenience and variety, there has been a corresponding increase in demand for efficient delivery mechanisms. Road haulage, offering flexibility and rapid delivery times, fits perfectly into this ecosystem, aiding e-commerce giants in fulfilling their delivery promises.

Furthermore, as global trade flourishes, products manufactured in one region are often in demand in another. Road transport, being a crucial part of the multimodal transport system, ensures the smooth movement of these goods, especially within continents. The rapid industrialisation in emerging economies has led to an uptick in production and, correspondingly, the movement of raw materials and finished goods, necessitating efficient road haulage systems.

The burgeoning trends in the retail and fast-moving consumer goods (FMCG) sectors also drive the road haulage market demand. With just-in-time delivery models gaining traction, retailers rely heavily on road transportation to restock their shelves, ensuring minimal lead times and maximising inventory turnover.

Innovations in the vehicle sector, including the development and adoption of electric and hybrid trucks, have given a fresh perspective for the road haulage market expansion. Such advancements promise not only environmental benefits but also operational cost reductions in the long run, making road transportation even more appealing.

In the backdrop of the current sustainability movement, the road haulage sector is also undergoing a transformation. Carbon-neutral transportation options, eco-friendly fuels, and energy-efficient vehicles are no longer mere buzzwords but are slowly becoming industry standards. Major players in the global road haulage market are investing in R&D to reduce the carbon footprint and contribute to a more sustainable future.

Market Segmentation

The market can be divided based on type, vehicle type, application, and region.

Market Breakup by Type

• Domestic
• International
• Others

Market Breakup by Vehicle Type

• Light Commercial Vehicle
• Heavy Commercial Vehicle

Market Breakup by Application

• Automotive
• Mining and Construction
• Healthcare
• Oil and Gas
• Retail
• Food and Beverage
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global road haulage market. Some of the major players explored in the report by Expert Market Research are as follows:

• J.B. Hunt Transport, Inc.
• Knight-Swift Transportation Holdings Inc.
• Yellow Corporation
• Schenker AG
• Landstar System Holdings, Inc.
• Kuehne + Nagel International AG
• Seino Holdings Co., Ltd.
• Old Dominion Freight Line, Inc.
• Kindersley Transport Ltd.
• Gosselin Group
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.