Road Freight Transport Market Recent Trends, Industry Analysis, Outlook, Insights, Share and Forecasts Report 2033

Growth in road freight transport is foreseen to be fuel-efficient and technologically driven. Fuel efficiency and technological advancement

VANCOUVER, BRITISH COLUMBIA, CANADA, January 28, 2025 /EINPresswire.com/ -- The Road Freight Transport Market is expected to grow from an estimated USD 4,158.6 million in 2024 to USD 6,733.2 million in 2033, at a CAGR of 5.5%. The road freight transport sector is undergoing significant transformation, driven by fuel-efficient technologies and innovations aimed at reducing environmental impacts. As the demand for cost-effective and eco-friendly transportation solutions increases, companies are embracing advancements in truck design and automation.

Fuel efficiency has become a key priority for manufacturers, with advancements in engine technology, lighter materials, and aerodynamically optimized designs helping reduce fuel consumption. These innovations not only lower operational costs but also contribute to the reduction of greenhouse gas emissions, which are essential to meet global environmental regulations. As fuel prices continue to rise, the potential savings from increased fuel efficiency are significant for long-term freight operations.

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In February 2024, C.H. Robinson introduced a new system that enhances efficiency in freight shipping. The technology eliminates the need for separate pick-up and delivery appointments by leveraging artificial intelligence to analyze millions of shipment data points across 300,000 lanes. This optimizes scheduling, improving overall operational efficiency.

The rise of automation in road freight transport is also reshaping the industry. Advanced driver-assistance systems and autonomous vehicle technologies are improving safety and fuel efficiency. Features like adaptive cruise control, lane-keeping assistance, and automatic braking help reduce fuel consumption while enhancing road safety. In the future, fully autonomous trucks are expected to revolutionize logistics by offering round-the-clock operations, further lowering costs and boosting efficiency.

Key Drivers in the Road Freight Transport Market

One of the major drivers of the road freight market is the increasing demand for Just-in-Time (JIT) inventory systems. JIT helps businesses minimize costs by reducing inventory and acquiring goods only when needed for production. Road freight is critical in supporting JIT operations, offering flexible, fast, and door-to-door services that meet tight timelines. Industries such as automotive, electronics, and retail rely on road transport to receive goods just when they are required, ensuring smooth production schedules.

In line with this demand, C.H. Robinson's new technology also highlights the growing trend of improving efficiency within road freight transport. The ability to optimize scheduling and reduce time between shipments aligns perfectly with the evolving needs of JIT systems and just-in-time production practices.

Challenges Facing the Industry

Despite these advancements, the road freight industry still faces significant challenges, primarily stemming from environmental concerns. Diesel-powered trucks, which remain the dominant mode of freight transport, contribute significantly to air pollution through harmful emissions such as carbon dioxide and nitrogen oxides. As a result, freight companies are under increasing pressure to reduce emissions and adopt greener practices.

Regulatory measures are intensifying globally, with countries implementing stricter emissions standards. In Europe, for example, the Euro VI standards are pushing companies to explore cleaner alternatives, including electric trucks, hydrogen-powered vehicles, and biofuels. However, these innovations face hurdles such as high costs, infrastructure challenges, and limitations in battery technology.

Vehicle Type Insights: Light Commercial Vehicles (LCVs)

Light Commercial Vehicles (LCVs) are gaining traction in the freight transport market due to their versatility and efficiency, particularly in urban and peri-urban areas. The growing e-commerce sector, which requires last-mile delivery solutions, has driven demand for smaller vehicles that can easily navigate congested streets and reach locations where larger trucks cannot go.

LCVs are increasingly used in sectors such as electronics, pharmaceuticals, and fast-moving consumer goods (FMCG), where lighter, high-volume goods need to be transported efficiently. In fiscal year 2024–2025, Ashok Leyland plans to introduce six new LCV models, further strengthening its position in the market. These models are designed to meet the growing demand for flexible, cost-effective transportation solutions in the 2-3.5 ton segment.

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Road Freight Transport Top Companies and Competitive Landscape

The road freight transport industry has become indispensable in terms of the global supply chain, as it concerns the transportation of goods either from one region to another or across borders. It involves carriage by motorized vehicles such as trucks, lorries, and vans. Road freight transport itself plays a very vital role in logistics and distribution systems for ensuring timely receipt of goods at their respective destinations in proper condition.

These road freight services find their applications in industries such as manufacturing, retail, automotive, agriculture, and consumer goods. The key players operating in the road freight transport market are Kuehne + Nagel International AG, CJ Logistics Corporation, DHL Global Forwarding, Kerry Logistics Network Limited., CEVA Logistics, GEODIS SA, DSV Panalpina A/S, Nippon Express, and GEFCO S.A., DB Schenker, Deutsche Post AG (DHL Group), among others. These firms offer full-service freight capabilities, from long-haul movements to distribution, warehousing, and value-added capabilities such as real-time tracking and route optimization.

In December 2023, Canadian National Railway recently announced an upgrade to the Falcon Premium Intermodal Service, offering improved transit times for customers on the Canada-US-Mexico route. This is in addition to recent operational changes by CN's business partner, Union Pacific, that will cut a full day of transit time. The Falcon Premium Intermodal Service utilizes a world-class, single-line connection across Mexico and the US and Canada, with a smooth rail connection in Chicago, Illinois. This service links all CN origin points in Canada and Detroit, Michigan to GMXT terminals in Mexico, offering particular value to intermodal customers moving automotive parts, food, FAK (freight-all kinds), home appliances, and temperature-sensitive products.

Some of the key companies in the global Road Freight Transport market include:

Kuehne + Nagel International AG

CJ Logistics Corporation

DHL Global Forwarding

Kerry Logistics Network Limited.

CEVA Logistics

GEODIS SA

DSV Panalpina A/S

Nippon Express and GEFCO S.A.

DB Schenker

Deutsche Post AG (DHL Group)

Road Freight Transport Latest Industry Updates

In January 2024, Kuehne + Nagel announced the launch of Book & Claim insetting solution for electric vehicles as part of the Kuehne + Nagel decarbonisation portfolio. The move focuses on road freight, which was identified as one of the strategic priorities. By this insetting solution, customers using Kuehne + Nagel's road transport services can claim the carbon reductions of electric trucks if their goods cannot be physically transported by these zero-carbon emission trucks.

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Road Freight Transport Market Segmentation Analysis

By Vehicle Type Outlook (Revenue, USD Million; 2020-2033)

Commercial

Light Commercial

Heavy Commercial

By Service Type Outlook (Revenue, USD Million; 2020-2033)

Express and Parcel Services

Freight Forwarding

Third-Party Logistics (3PL)

By Destination Outlook (Revenue, USD Million; 2020-2033)

Domestic

International

By End-Use Outlook (Revenue, USD Million; 2020-2033)

Agriculture

Fishing & Forestry

Construction

Manufacturing

Oil and Gas

Mining & Quarrying

Wholesale & Retail Trade

Others

By Regional Outlook (Revenue, USD Million; 2020-2033)

North America

United States

Canada

Mexico

Europe

Germany

France

United Kingdom

Italy

Spain

Benelux

Rest of Europe

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Latin America

Brazil

Rest of Latin America

Middle East and Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

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Look Over transcripts provided by Emergen Research

Road Freight Transport Market Size@ https://www.emergenresearch.com/industry-report/road-freight-transport-market/market-size

Road Freight Transport Market Share@ https://www.emergenresearch.com/industry-report/road-freight-transport-market/market-share

Road Freight Transport Market Trends@ https://www.emergenresearch.com/industry-report/road-freight-transport-market/market-trends

Road Freight Transport Regional Market Demand@ https://www.emergenresearch.com/industry-report/road-freight-transport-market/regional-market-demand

Road Freight Transport Market Analysis@ https://www.emergenresearch.com/industry-report/road-freight-transport-market/market-analysis

Eric Lee
Emergen Research
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