Road Haulage Market Analysis

Road Haulage Market Analysis

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Based on type, the domestic segment held major road haulage market share in 2022. The substantial volume of goods transported nationwide is a crucial factor driving the domestic segment growth. Domestic road haulage services are poised to play a pivotal role as the demand for the movement of goods within a country continues to surge.
 

According to the Domestic Road Freight Statistics Report of the UK government, 1.65 billion tons of goods were lifted, 178 billion tons of goods were moved, and 19.7 billion kilometers were covered by heavy goods vehicles between 2021 Q3 to 2022 Q2. Furthermore, this segment benefits from the need for efficient & reliable transportation solutions by businesses and consumers alike, propelling segment growth and augmenting its prominence in meeting the ever-expanding logistical requirements of a nation.
 

The medium segment accounted for 48% of the road haulage market share in 2022. The escalating volume of global trade is a major catalyst propelling the use of heavy vehicles in the market. These vehicles are instrumental in the transportation of goods to & from ports, airports, and distribution centers, thereby facilitating international trade flows. As global trade continues to expand, the demand for the efficient movement of cargo across vast distances will grow, driving the utilization of heavy vehicles. Their capacity, adaptability, and ability to connect various modes of transportation make them indispensable in supporting the global supply chain.
 

Asia Pacific road haulage market recorded around 58% of revenue share in 2022. Collaborative initiatives among Asian countries to improve road networks are bolstering the market growth. These partnerships focus on enhancing remote area connectivity & infrastructure, thereby facilitating the efficient movement of goods within the region.
 

For instance, in July 2023, the Ministry of Road Transport & Highways (MoRTH), in association with the Japan International Cooperation Agency (JICA), took a significant stride in enhancing the infrastructure of mountainous roads in India. The objective is to establish a foundation for top-notch & enduring road initiatives in hilly areas. As part of this effort, five comprehensive guidelines have been finalized to ensure the quality & sustainability of road projects in these challenging terrains.