India Full Truckload Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029

Key Highlights

• Largest Segment by Destination - Domestic : The domestic destination segment garnered the highest share in India's full-truckload industry, owing to the initiatives taken by the government to increase infrastructural developments facilitating the growth of this segment.
• Largest Segment by End User - Wholesale and Retail Trade : The wholesale and retail trade sector, which accounts for a share of more than 15% of the country's gross domestic product, is the largest end-user sub-segment in the Indian full-truckload market.
• Fastest Growing Segment by End User - Agriculture, Fishing and Forestry : Agriculture, Fishing and Forestry end-user segment is the fastest-growing end-user industry in India with a GDP contribution of around 16.77% as of 2021 led by increased domestic production and trade.
• Fastest-growing Segment by Destination - International : International destination is the fastest-growing segment, attributable to the rising exports and imports. In order to meet its trade targets, India needs to record a 7.53% revenue CAGR during 2022-2028 and account for a 5% share in global exports by 2030.

India Full Truckload Road Freight Transport Market Trends

Wholesale and Retail Trade is the largest segment by End User.

• In 2021, the Indian full truckload market witnessed a growth of 18.19% YoY in value, with the agriculture, fishing, and forestry segment experiencing major growth (19.35% YoY in value), followed by the manufacturing segment (19.19% YoY in value). One of the reasons for the growth of the agriculture, fishing, and forestry segment was that the agricultural sector in India increased by 3.9% during 2021-22. The production of fresh fruit and vegetables during 2021-22 is 3,02,806 thousand metric ton, which is 158% higher than the previous year.
• The growth of the manufacturing segment was due to the production of automobiles reaching 22.93 million vehicles during 2021-22, up from 22.65 million vehicles in the previous year. In January 2022, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles reached 1,860,809 units. The Indian auto industry is expected to record strong growth during 2022-23, post-recovery from the effects of the COVID-19 pandemic. Electric vehicles, especially two-wheelers, are expected to witness positive sales during 2022-23.
• The other end-user segment is expected to witness the highest CAGR (8.34%) during the forecast period, followed by the agriculture, fishing, and forestry segment (7.48%). In the other end users segment, the pharmaceutical sub-segment is estimated to grow as medicine spending in India is projected to increase by 9-12% over the next five years. The agriculture, fishing, and forestry segment is forecast to grow as the central government is anticipated to invest USD 9 billion in the fishery sector under PM Matsya Sampada Yojana.

India Full Truckload Road Freight Transport Industry Overview

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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