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Road freight transport is freight transportation or shipment by means of roadways. Road freight transportation is the most commonly used mode of freight transport. Road freight transport includes a wide variety of vehicles such as lorry tank, pick-up trucks, truck trailers, refrigerated trucks, and flatbed trucks. Road freight transport is a quick, cost-effective, and door-to-door service providing freight transport system.

Growing bilateral trade and booming industrialization, supplemented with revised trade policies, are prime factors that are projected to fuel the road freight transport market during the forecast period. Freight road transportation entails low capital investment, as compared to other transportation, such as rail and air transportation system. This leads towards the establishment of the new companies and boost its presence in the market. Additionally, surge in import and export of goods and materials around the world is anticipated to propel the road freight transport market during the forecast period. Progression and expansion of goods and services companies around the world are focused upon developing strong online platforms which is expected to augment the road freight transport, as it offers quick, flexible, and frequent services.

Rapid advancements in technology and rising role of e-tailing are anticipated to drive the freight road transport market during the forecast period. Road freight transport offers numerous benefits, such as ideal for short destination, economical, flexible, and cost-effective packaging. This, in turn, is projected to boost the road freight transport market during the forecast period. However, road freight transport faces major setbacks from road condition, weather, and traffic congestion coupled with long distance transportation. These factors are likely to restrain the road freight transport market during the forecast period. 

The global road freight transport market can be segmented based on end-user, vehicle type, and region. In terms of end-user, the road freight transport market can be divided into automotive food and beverages, oil & gas, chemicals, healthcare, and others. The oil & gas segment leads the road freight transport market. The segment is projected to remain prominent during the forecast period primarily due to the expansion of oil & gas industry. 

Based on vehicle type, the road freight transport market can be split into light truck, medium truck, heavy truck, and others. The heavy truck segment accounts for a dominant share of the market due to the long distance covered by these trucks for export and import purposes around the world. Furthermore, heavy trucks are ideal for both short and long distance transportation, as they possess the ability to carry heavy goods and materials in larger quantity as compared to other vehicle types. This is a key factor that is projected to boost the segment of the road freight transportation market during the forecast period.

In terms of region, the road freight transport market can be segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific holds a prominent share of the global road freight transport market majorly due to surge in e-commerce and rise in population in the region. Additionally, the emerging economies in the region are witnessing expansion of transport routes and increasing volumes of materials and goods. This in turn is likely to fuel the road freight transport market during the forecast period. Upcoming infrastructure projects coupled with booming manufacturing and construction industries in Asia Pacific is another major factor that is anticipated to propel the road freight transport market in the region during the forecast period. 

Prominent players operating in the global road freight transport market include Cargo Carriers Limited, DB SCHENKER, DHL Global Forwarding, KUEHNE + NAGEL, CJ Logistics Corporation, Kerry Logistics Network Limited, Nippon Express, TNT Express, CEVA Logistics, GEODIS, DSV, Overland Total Logistics Services (M) Sdn Bhd., and GEFCO.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Road Freight Transport Market

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