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| A11728 | Pages: NA | Aug 2021 | 154 Views | | |
| Author(s) : Sonia Mutreja | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Road Haulage Market
Request Now !Road haulage refers to business of transporting goods by road. Significant increase in global truck production has complemented growing demand for freight in industries such as retail and manufacturing. Trucks are most flexible, responsive, and economical freight transportation preferred by distributors for transportation of a variety of goods. Road transportation services are used in multiple applications in different industries, such as mining and construction, oil & gas, food & beverages, retail, manufacturing, healthcare, and automobiles. In addition, growth of automotive and transportation sectors has largely contributed toward expansion of the market. Road haulage companies focus on integrating logistics technology into their transportation services to expand their customer base. Reduction in freight rates has led to intensified price competition among major players in this field. Companies operating in the road haulage market are also emphasizing on improving the customer experience by using technologies such as autonomous vehicles and GPS to reduce the operating costs of road transportation services. In addition, many technological developments such as smart supply chains, vehicle-to-vehicle communication, and autonomous driving are changing the transport industry, which, in turn, propel global demand for road haulage services.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2030 |
Base year considered | 2020 |
Forecast period | 2021–2030 |
Forecast units | Value (USD) |
Segments covered | Type, Vehicle Type, End User, and Region |
Regions covered | North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa) |
Companies covered |
CONCOR, Kindersley Transport Ltd., Gosselin Group, LKW WALTER International Transport organization AG, Monarch Transport, AM Cargo, Manitoulin Transport Inc., SLH Transport Inc., Woodside Logistics Group, and UK Haulier. |
COVID-19 Scenario Analysis:
Economic factors affecting the market, such as purchasing power, directly influences the market growth, as there is no demand during COVID-19 and road haulage companies are suffering heavy loss. With restricted movement of population around the world, as well as complete lockdown in several countries including India, the manufacturing sector is also affected by economic fallout from the pandemic and it directly affects road haulage companies. Road haulage companies have faced tremendous losses due to complete lockdown as there was shortage of truck drivers and workforce. Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted supply chain of numerous industries across the globe, which affected road haulage companies, however, distribution of vaccine and emergency medical supplies has helped the sector survive during the pandemic.
Top impacting factor
The automotive road haulage market trends are as follows:
Rise in global online retail industry
Global online retail industry has created a demand for fast package delivery. Growth of the e-commerce industry has led to emergence of new service requirements such as express deliveries. Rapid popularity of smart phones and continuous increase in global internet penetration and future growth prospects of the e-commerce industry may soon increase demand for road transportation. Numerous e-commerce retail companies are making large investments in building their supply chain networks and capabilities to enhance customer experience. In addition, continuous development of industrialization and increased investment in optimizing package delivery process further provides a way for market expansion.
Key segments covered:
Segments | Subsegments |
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Vehicle Type |
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End User |
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Key benefits of the report:
Questions answered in the road haulage market research report:
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