Road Haulage Market Regional Analysis:
APAC Market Insights
Road haulage market in the Asia Pacific region is anticipated to hold the largest with a share of about 36% by the end of 2035, growing at a CAGR of 6%. The region's increased foreign investment and better transportation infrastructure are credited with the rise. In addition, the rapidly expanding e-commerce sector in developing nations like China and India is increasing demand for efficient road haulage services.
In 2023, China remained the world's top manufacturing hub, the rise in production and exports is driving the demand for road services as the trucking industry plays a significant role in ensuring the timely delivery and distribution of manufactured goods domestically. In 2023, China's auto exports surged 57.9% YoY to a record high of 4.91 million vehicles. This growth was propelled by a surge in the exports of new energy vehicles (NEVs), which soared 77.6 YoY to more than 1.2 million units in 2023.
North America Market Insights
The North American region will also encounter huge growth for the road haulage market during the forecast period and will hold the second position, accounting for 24% of the market share. the regional market is expected to have a sizable part of the market due to its robust expansion.
The extensive highway network in the area, together with the growing volume and variety of commercial activities, are responsible for the regional market's growth prospects in vehicle networking. As the pre-workout supplements United States Department of Transportation; U.S. transportation network for freight evolved from 2012 to 2017, in 2017 it accumulated to a value of around USD 19 trillion.
Every province in 2021 had an increase in sales for the manufacturing sector, which led to a rise in the amount of manufactured goods being transported throughout Canada by road haulage. Sales increased by 11.3% in Ontario and 19.5% in Quebec, which was a significant gain. The primary metal, petroleum, and coal industries saw increased sales, which was a major factor in these regions' prosperity.
E-commerce businesses made more than USD 4.2 trillion in 2020. In a single year, the industry in the US expanded by over 40%, while sales to other countries increased by 20%. Last-mile trucking services are in more demand because to the rising domestic demand for e-commerce goods.
