The global road haulage market is estimated to witness a strong growth over the forecast period due to the rise in demand for fast and efficient road transportation. Legislative initiatives have increasingly liberalized the road haulage market. Furthermore, growth in automotives and transport sector has contributed largely to the augmentation of the market. The balanced market is poised to witness significant growth owing to the emergence of fully integrated, borderless, and seamless supply chains. Recovery from global economic conditions such as recession and economic slowdown has created plentiful opportunities for operators and investors to capitalize on growing trends in road haulage market. Prevailing demographic trends and rapidly increasing population are the key factors expected to drive the road haulage market over the forecast period. Furthermore, globalization is expected to fuel the market growth. Technological advancements have taken the market by storm with adoption of innovative techniques for transport and logistics. The market foresees several opportunities in the field of agricultural produce and local delivery. Transport of agricultural products such as bulk food commodities and field produce has generated multiple opportunities for market growth.
The road haulage market is broadly classified into international and domestic road haulage. It finds applications in retail and manufacturing sector, petroleum, construction, and defense sectors. On the basis of vehicles, the road haulage market can be categorized into various transport vehicles, which comprises trucks, lorries, and vans. It offers services such as pallet delivery, light haulage, heavy haulage, container transport, and refrigerated haulage. Pallet delivery finds applications in transporting customer goods by wooden or metal pallets. Heavy haulage involves transportation of plants and machineries weighing more than 150 tons. Light haulage involves transportation of light weight objects weighing less than 3.5 tons. Refrigerated haulage is generally preferred for the transportation of perishable goods such as food products.
E-commerce sites pose as major threats to the global road haulage market as online shopping results in detouring of conventional supply chains and have adverse effects on profit margins in business services. The delay and downtime incurred in transport are expected to hamper the market growth. Adoption of innovative techniques to provide competitive products leads to heavy expenses. Escalation of fuel prices and fuel levies hinders the market growth. Moreover, road and transport taxes have jeopardized the growth opportunities. Increasing compliance workloads, changing regulatory scenarios, and the associated costs have largely hampered the market augmentation. The global road haulage market is highly susceptible to prevailing customary economic conditions. Onset of financial crisis due to global recession and economic slowdown has unfavorably affected the market. Infrastructure capacity constrains costs, performance, productivity, and business viability, thereby, impeding the growth of market. Difficulties in attracting and acquiring quality labor and continually aging workforce have confined the growth opportunities in the market. Subsequently, rise in average wage costs have left the vendors with low profit margins. Rail is considered to be the most competitive alternative for road haulage. Use of rail and other alternative means of haulage have deterred the market growth.
The global road haulage market is expected to witness remarkable growth in the North American countries such as the U.S. and Canada. Superior roadways infrastructure and connectivity can be attributed as the key factors for growth in this region. Moreover, growth in demand for perishable goods such as fruits and vegetables has fueled the market growth in refrigerated haulage segment. Legislative initiatives for road transport and flexible international transport policies in the European region have stimulated the market growth in this region. The market is expected to grow significantly in the Asia Pacific region owing to presence of emerging economies such as India and China. Furthermore, rapid growth in population is expected to spur the market growth in this region.
Major vendors dominating the global road haulage market are AM Cargo Logistic SL, Container Corporation of India Ltd., Gosselin Transport Services, Kindersly Transport Ltd., LKW Walter, Manitoulin Transport, Monarch Transport Ltd., SLH Transport Company, UK Haulier, and Woodside Road Haulage.
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