Russia Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029

Russia Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029

The Russia Road Freight Transport Market size is estimated at USD 22.30 billion in 2024, and is expected to reach USD 25.51 billion by 2029, growing at a CAGR of 2.73% during the forecast period (2024-2029).

Key Highlights

• Largest Segment by Distance - Long Haul : Long haul has been dominant in Russia's road freight trucking market as the transport network of the Russian Federation is one of the world's most extensive transport networks and shares borders with 14 countries.
• Largest Segment by Product Type - Solid Goods : Liquid commodities fall into fewer categories like oil, chemicals, and food items. Thus, the number of solid goods transported within or across Russia has overtaken that of liquid goods.
• Largest Segment by End User - Wholesale and Retail Trade : The wholesale and retail trade sector, which accounts for a share of more than 10% of the country's GDP, is the largest segment in Russia's road freight transport market.
• Fastest Growing Segment by TruckLoad Specification - Less than Truckload : LTL is the fastest-growing truckload specification. One of the key drivers of its growth has been the significant rise in e-commerce sales in Russia.

Russia Road Freight Transport Market Trends

Wholesale and Retail Trade is the largest segment by End User.

• In 2020, the wholesale and retail trade segment was the largest contributor to the Russian road freight transport market, with a share of 41.02%, followed by the manufacturing segment, with a share of 24.89%. The manufacturing segment was also a major contributor to Russia’s GDP, with a share of 14.45%, amounting to USD 253.99 billion in 2021, up from USD 194.17 billion in 2020.
• The overall volume of the road freight transport market declined by 2.03% YoY in 2020 due to a decrease in Russia's trade patterns caused by the impact of the COVID-19 pandemic and subsequent halts in economic activities. The wholesale and retail trade segment of the market witnessed a maximum decline of 3.04% YoY in 2020 due to a decline in industrial output during the lockdowns. However, the manufacturing segment contributed 24.11% YoY to the country's output, indicating that the trajectory of retail sales was on track, and the sector is set to drive the national economy.
• The agriculture, fishing, and forestry segment of the road freight transport market is expected to record the highest growth rate of 6.21% during the forecast period, followed by the oil, gas, mining, and quarrying segment, with a CAGR of 4.25%. The scope of these segments in Russia's road freight market is anticipated to be massive in terms of growth.

Russia Road Freight Transport Industry Overview

The Russia Road Freight Transport Market is fragmented, with the top five companies occupying 34.79%. The major players in this market are DL-TRANS LTD, ITECO Corporation, MONOPOLY, PEK OOO and TK Megapolis (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support