Road Haulage Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

The global road haulage market is anticipated to grow at a CAGR of 5.5% during the forecast period (2023-2030). Among the various factors that drive the road haulage market, fuel efficiency has emerged as the most critical one. The more efficient a vehicle is, the less fuel it consumes, which translates into lower costs for the haulage company and a reduced carbon footprint. Fuel costs can account for up to 30.0% of the total operating expenses of a road haulage company. Therefore, even a small improvement in fuel efficiency can result in significant cost savings.One of the most prominent examples of fuel efficiency driving the road haulage market is the adoption of hybrid and electric vehicles. In recent years, there has been a surge in the demand for electric and hybrid trucks, driven by increasing environmental concerns and the need to reduce fuel costs. For instance, the largest supermarket chain in the UK, Tesco, has pledged to switch its entire fleet of delivery trucks to electric by 2028. Similarly, companies like UPS and FedEx have also invested in electric and hybrid vehicles, with UPS planning to have 25.0% of its fleet running on alternative fuels by 2025.

The road haulage market is the introduction of emission regulations. Governments across the world have introduced emission standards to reduce air pollution. For instance, in March 2020, the European Union’s Euro 6 emissions standards impose strict limits on nitrogen oxide and particulate emissions from heavy-duty vehicles. To meet these standards, haulage companies have had to invest in more fuel-efficient vehicles or retrofit their existing fleet with emission-reducing technology.Furthermore, haulage companies are increasingly using telematics systems to monitor and optimize fuel efficiency.

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Market Coverage

•                 The market number available for – 2022-2030

•                 Base year- 2022

•                 Forecast period- 2023-2030

Segment Covered- 

·                  By Type

·                  By Vehicle Type

·                  By Application

Regions Covered-

·                  North America

·                  Europe

·                  Asia-Pacific

·                  Rest of the World

•                 Competitive Landscape- including  Container Corp. of India Ltd,, Kindersley Transport Ltd., Manitoulin Transport Inc.,Woodside Logistics Group, and others.

Road Haulage Market Report Segment

By Type

•                 Domestic Road Haulage

•                 International Road Haulage

By Vehicle Type

•                 Light Commercial Vehicles (LCVs)

•                 Heavy Commercial Vehicles (HCVs)

By Application

•                 Mining and Construction

•                 Oil and Gas

•                 Food and Beverage

•                 Retail

•                 Manufacturing

•                 Healthcare

•                 Automotive

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Road Haulage Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles 

•                 ArcBest Corp.

•                 DHL

•                 Estes Express Lines

•                 FedEx Corp.

•                 Gosselin Group

•                 J.B. Hunt Transport ,Inc.

•                 Knight Swift Transportation Holdings Inc.

•                 Landstar System, Inc.

•                 Marten Transport, Ltd.

•                 Monarch Transport Corp.

•                 P.A.M. Transportation Services Inc. 

•                 Roadrunner Freight

•                 Schneider National, Inc.

•                 SLH Transport Inc.

•                 Swift Transportation

•                 UK Haulier

•                 Werner Enterprises

•                 XPO, Inc.

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