The global road haulage market size was evaluated at $3,879 Billion in 2022 and is slated to hit $4,072 Billion by the end of 2030 with a CAGR of nearly 5.6% between 2023 and 2030.
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➤ The global market expansion will be facilitated by the thriving e-commerce industry and the extension of online retail business.
The emergence of new service requirements, such as express deliveries and a new class of logistics operators, has been facilitated by the thriving e-commerce sector and the surge in online retail activities. This, in turn, has resulted in the substantial expansion of the global road haulage market. The worldwide market demand has been stimulated by the increasing popularity of smartphones and iPhones, as well as the widespread adoption of the internet. The global market has experienced significant development as a result of the rapidly expanding automotive manufacturing industry and the significant increase in transport activities. Additionally, the global road haulage market is significantly influenced by the regional and global transportation of products and services.
➤ The global industry surge could be decimated by the increasing risk of commuters being involved in road collisions.
The road haulage industry’s expansion is anticipated to be impeded by a combination of factors, including increasing petroleum costs, transport strikes, violence on the streets, and stringent regulations on the transport and logistics sectors. The expansion of the global road haulage industry may be impeded by the increase in rail and flight haulage. In addition, the global market’s expansion may be restricted by the significant scarcity of heavy vehicle commuters and the elevated risk of severe injuries and road accidents experienced by these commuters.
➤ Massive demand for the transportation of consumer products and staple food items to create new growth opportunities for the global market
It is anticipated that the road haulage market will expand globally due to the consistent demand for the transportation of staple food products, package delivery, agricultural product delivery, and volume delivery of consumer goods. Additionally, the global market will be presented with new opportunities for growth as a result of the introduction of autonomous vehicles and novel logistics methods.
➤ The enforcement of stringent greenhouse gas emissions by a variety of governments worldwide is expected to present a significant challenge.
The most significant obstacle to the expansion of the global road haulage industry is the environmental impact of diesel engine emissions. The global industry’s expansion will be further impeded by the necessity of complying with stringent GHG emission regulations.
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The Global Road Haulage Market is segmented based on product, application and region
Global Road Haulage Market: Product Segment Analysis
● Domestic Road Haulage
● International Road haulage
Global Road Haulage Market: Application Segment Analysis
● Mining & Construction
● Healthcare
● Oil & Gas
● Retail
● Food & Beverages
● Manufacturing
● Automotive
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The global Respiratory Diagnostics market profiles key players such as:
● Kindersley Transport Ltd.
● Manitoulin Transport Inc.
● UK Haulier
● Container Corporation of India Limited
● LKW WALTER Internationale Transportorganisation AG
● Gosselin Group
● Monarch Transport Corporation
● AM Cargo
● SLH Transport Inc.
● Woodside Logistics Group
???? Recent Developments:
• Aurangabad was the site of the inauguration of a seven-national highway venture valued at INR 5,569 Cr by the Ministry of Road Transport and Highways of India in the second quarter of 2022. The water crises in the region will be mitigated by the introduction of the new road venture, as stated by the Ministry of Road Transport & Highways. The road haulage industry in India will experience a surge in growth as a result of the initiative.
• Volvo Trucks introduced a biogas-powered vehicle in February 2023 to mitigate carbon dioxide emissions during long-distance transportation. Biogas is purportedly a significant contributor to the preservation of the environment. Moreover, the Volvo FM and Volvo FH biogas-powered vehicles will receive a new power level of 500 hp engines, as well as significant engine upgrades, which will enable these trucks to become more fuel-efficient.
➤ The Asia-Pacific road haulage market is expected to experience the highest compound annual growth rate (CAGR) during the forecast period.
The Asia-Pacific region’s road haulage market is expected to experience the highest compound annual growth rate (CAGR) of over 6.1% in the following years. The presence of robust road infrastructure facilities in countries such as China, India, Malaysia, Japan, Taiwan, South Korea, and Singapore is a contributing factor to the regional market’s expansion from 2023 to 2030. Furthermore, the regional market trends will be bolstered by a significant increase in foreign direct investments for infrastructural development in the region. Further, the market demand in the region will be stimulated by the rapidly expanding e-commerce sector in the emerging economies of the Asia-Pacific.
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