Road freight transport refers to freight shipment or transportation by roadways. This freight transport is one of the most commonly used modes of freight transport. Road freight transport involves a broad range of vehicles like pick-up trucks, lorry tank, refrigerated trucks, truck trailers and flatbed trucks. This freight transport system is cost effective, faster and provides door-to-door service as well. Popular industries that make use road freight transport are food and beverages, automotive, chemicals, oil & gas and healthcare. Considering growing demand for various products, this market is anticipated to experience significant growth in near future.
MARKET SCOPE
The "Global Road Freight Transport Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the road freight transport market with detailed market segmentation by vehicle type, end-users, and geography. The report provides key statistics on the market status of the leading road freight transport market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on vehicle type, the global road freight transport market is segmented into Light truck, medium truck and heavy truck.
- On the basis of end-users, the market is segmented into automotive, food and beverages, oil and gas, chemicals, healthcare and others.
MARKET DYNAMICS
Drivers
- Growing adoption of industry 4.0 and increasing industrialization.
- Rising urbanization and increasing per capita disposable income to boost growth of road freight transport market.
- Increasing demand for consumer goods all over the world.
Restraints
- Government norms regarding carbon emission.
- Traffic congestion and road conditions in some developing countries.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The road freight transport market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the road freight transport market in these regions.
IMPACT OF COVID-19 ON ROAD FREIGHT TRASNPORT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. This pandemic has not only impacted the economic condition of factories and industries but they have also affected the purchasing capacity of the consumer. Since, individual disposable income has declined due to job loss or pay cuts, production has gone down due to less demand. This has directly impacted the road freight transport industry to large extent.
MARKET PLAYERS
The report covers key developments in the road freight transport market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from road freight transport market are anticipated to lucrative growth opportunities in the future with the rising demand for road freight transport in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the road freight transport market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Cargo Carriers Limited
- CEVA Logistics
- CJ Logistics Corporation
- DB SCHENKER
- DHL International GmbH
- KUEHNE + NAGEL
- Kerry Logistics Network Limited
- PRIMAFRIO SL
- United Parcel Service
- XPO Logistics
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.