Road Logistics Global Market Report 2024

The road logistics market size has grown strongly in recent years. It will grow from $2.11 trillion in 2023 to $2.27 trillion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion witnessed in the historic period can be ascribed to the emergence of platform-based logistics solutions, advancements in transport infrastructure, and a heightened focus on enhancing customer experience within the industry.

The road logistics market size is expected to see strong growth in the next few years. It will grow to $2.87 trillion in 2028 at a compound annual growth rate (CAGR) of 6%. Anticipated growth in the forecast period can be linked to increasing consumer demands, ongoing infrastructure enhancements, the continued ascent of e-commerce platforms, and heightened demand from the medical and healthcare sectors. Significant trends expected during this period encompass technological advancements, innovative product developments, strategic partnerships, and increased investment activities.

The surge in e-commerce activity is anticipated to be a driving force behind the expansion of the road logistics market in the coming years. E-commerce, characterized by online transactions for the buying and selling of goods and services, heavily relies on road freight transit for efficient last-mile deliveries and the transportation of goods from suppliers to distribution centers. As e-commerce continues to grow, there is an increasing demand for faster delivery times, presenting an opportunity for logistics companies to enhance their delivery capabilities. For instance, in November 2023, e-commerce sales in the United States accounted for 15.6% of total sales in the third quarter, totaling $271.7 billion, reflecting a steady increase from previous quarters. Consequently, the upward trajectory of e-commerce is spurring the expansion of the road logistics market.

Prominent companies operating in the road logistics sector are concentrating on introducing advanced digital solutions to optimize various facets of road freight transportation and logistics. These solutions leverage digital technologies to streamline processes and enhance efficiency in cargo booking, transportation, and tracking. For example, DP World, a logistics company based in the United Arab Emirates, launched CARGOES Logistics, a digital logistics solution offering seamless online cargo booking, efficient transportation services, and sophisticated tracking capabilities. This platform simplifies the process of moving cargo by providing customers with a user-friendly interface for booking, tracking, and payment.

In December 2023, Good Logistics, a US-based logistics company, acquired Inter-Ways Limited, a UK-based freight and logistics company, to diversify its revenue streams and expand its customer base. This strategic acquisition enables Good Logistics to broaden its service offerings and enter new markets, reducing its reliance on specific industries or sectors. Inter-Ways Limited brings expertise in road freight, sea freight, air freight, and project forwarding, enhancing Good Logistics' capabilities and market presence.

Major companies operating in the road logistics market report are DHL International GmbH, Deutsche Post AG, United Parcel Service Inc., FedEx Corp., Xiamen Xiangyu Co. Ltd., CEVA Logistics Inc., Kuehne Nagel Management AG, Noatum Logistics USA LLC, Penske Corp., C H Robinson Worldwide Inc., J.B. Hunt Transport Services Inc., Ryder System Inc., XPO Logistics Inc., Knight Swift Transportation Holdings Inc., Schneider National Inc., ArcBest Corp., Yellow Corp., GEFCO S.A., Saltchuk, Werner Enterprises Inc., Bennett International Group LLC, AAA Cooper Transportation Inc., Agility Public Warehousing Co. K.S.C.P, Quantix SCS Inc., Acme Truck Line Inc., LT Harnett Trucking Inc., RD Logistics Inc., World Trade Logistics Inc., Cannon Logistics LLC, Sea Transport Management WA, Just International Logistics Co. Ltd.

Asia-Pacific was the largest region in the road logistics market in 2023. The regions covered in the road logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the road logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Road logistics encompasses the comprehensive coordination and execution of transporting goods, materials, or individuals via road networks. This multifaceted process involves strategic planning, efficient route optimization, meticulous vehicle scheduling, adept load management, and real-time transportation tracking to ensure smooth and timely deliveries.

The primary categories within road logistics are truckload, less than truckload (LTL), parcel, and same-day delivery. Truckload logistics entail transporting goods that fill or could fill an entire truck, catering to domestic and international needs across various industries such as manufacturing, retail, healthcare, and oil and gas.

The road logistics market research report is one of a series of new reports that provides road logistics market statistics, including road logistics industry global market size, regional shares, competitors with road logistics market share, detailed road logistics market segments, market trends, and opportunities, and any further data you may need to thrive in the road logistics industry. This road logistics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The road logistics market includes revenues earned by entities by providing consumer goods logistic services, industrial materials transit services, express transportation and courier services, and freight management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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