What is Road Freight Transportation Services Market?
Road Freight is the physical process of transporting cargo by road using motor vehicles. Road freight transportation is widely used for transportation as it has cheaper than other transportation modes and is convenient due to availability in any location, especially in rural areas. Road transport vehicles such as trucks have high capability of weight and huge space, it is highly utilized for transportation of large equipment and heavy machinery, vehicles, hay, etc.
Highlights from Road Freight Transportation Services Market Study
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | AsstrA (Switzerland), Bilogistik (Spain), Nippon Express (Japan), DSV (Denmark), CJ Logistics (South Korea), GEFCO S.A. (France), DB Schenker (Germany), TNT Express (Netherlands), GEODIS (France) and DHL Global Forwarding (Germany) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
AsstrA (Switzerland), Bilogistik (Spain), Nippon Express (Japan), DSV (Denmark), CJ Logistics (South Korea), GEFCO S.A. (France), DB Schenker (Germany), TNT Express (Netherlands), GEODIS (France) and DHL Global Forwarding (Germany) are some of the key players profiled in the study. Road Freight Transportation Services Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Manufacturers, Automotive, Construction, Agriculture and Others |
Type | Flatbed Transport, Hay Transport, Temperature-Control and Car-Carrying Services |
On the basis of geography, the market of Road Freight Transportation Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Evolution of Electric Trucks, Autonomous Vehicles, and Smart Transport Solutions
Market Growth Drivers:
Increased Automotive Manufacturing Activities Across the Globe Due to Rising Ownership of Vehicles and Increasing Use of Road Freight Transportation Services Due to Its High Weight Capability and Convenience
Challenges:
Poor Road Infrastructure and Inferior Quality Vehicles Used for Transportation
Restraints:
High Transportation Cost Due to Lack of Trucks
Opportunities:
Increase in Shipping Large Construction Equipment, Building Section, Etc. Due to High Growth of Infrastructural Activities
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Road Freight Transportation Services Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
Market Leaders & Development Strategies
In July 2021, Uber Freight announced the acquisition of Transplace, a leading non-asset-based third-party logistics services provider. Transplace offers logistics technology and transportation management services to various industries. The acquisition will create an industry-leading combined Freight Technology Operating System to enable a comprehensive end-to-end shipper-to-carrier solution, and unlock new levels of efficiency and service.