Europe Road Freight Market Forecast to 2028 - A $540.96 Billion Market by 2028 - Surging Demand for Fast-Delivery Services

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Dec 28, 2023, 11:00 ET

DUBLIN, Dec. 28, 2023 /PRNewswire/ -- The "Europe Road Freight Market: Analysis By Destination (Domestic, and International), By End User (Food and Beverage, Manufacturing, Retail, Metal and Mining, and Others), By Region Size and Trends and Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The Europe road freight market value stood at US$461.22 billion in 2022 and is expected to reach US$540.96 billion by 2028. Europe's road freight market volume is expected to reach 1949.61 billion tonne-kilometres by 2028.

The European road freight market demonstrated a consistent growth, owing to the strong performance of the European economy, rapidly expanding end user industries, increasing demand for road freight solutions in intermodal transportation, rising cross-border trade activities, the growing popularity of online shopping, and rising focus of manufacturers and retailers on core competencies.

Also, efficient management of custom, distribution, warehousing, and order fulfillment by road freight companies, increasing demand for faster delivery services, positive shift towards third-party logistics (3PL) and contract logistics services, and increasing number of strategic partnerships and collaborations among logistics providers and manufacturers, is expected to boost the growth of Europe road freight market over the years. The market value is expected to grow at a CAGR of 2.66% over the projected period of 2023-2028.

Market Segmentation Analysis:

By Destination: Domestic road freight is the largest segment of the European road freight market owing to rapidly expanding online retailing sectors, increasing need for efficient supply chain management, rapid urbanization, presence of well-developed and maintained road infrastructure, ongoing developments of autonomous vehicle technologies, and increasing number of companies outsourcing their logistics operations to third-party providers.

International and cross border road freight is the fastest growing segment of Europe road freight market as a result of increase in trading activities due to globalization, expansion of the European Union (EU), an increasing number of trade agreements within the EU, and customs union arrangements, the close geographical proximity of European countries, and increasing adoption of digital technologies and automation solutions in road freight logistics.

By End User: Food and beverage is the largest and fastest growing segment of the Europe road freight market as a result of the rapidly expanding online retailing sector, increasing consumption of organic and packaged food items among the growing urban population, increase in income levels, well-established retail distribution networks, increasing demand for cold chain solutions, European consumer's strong preferences for locally-produced food and beverages, and road freight's flexibility in allowing quick adjustments to meet these seasonal and event-driven demands.

By Region: Germany is the largest region of Europe's road freight market, as a result of the increasing presence of bilateral relations and trade agreements with neighboring European countries like France, well maintained supply chain infrastructure, country being a leader in the European region in terms of trade volumes, rapidly expanding automotive sector, high cabotage rates, booming industrialization, revised trade policies, presence of about 35,000 road freight companies in the region, rising modal share of road transport, and an increasing fleet of vehicles in the region.

Spain is the fastest growing region of Europe's road freight market, as a result of rising demand for last-mile delivery services, the importance of just-in-time manufacturing & supply chain efficiency, the country's role as a major player in international trade, urbanization & population density, improving road infrastructure & transportation networks, the growing importance of road freight solutions in intermodal transportation, rising trade patterns and the construction of smooth expressways.

Market Dynamics:

Growth Drivers

Increasing Demand for Third Party Logistics Services
Positively Growing E-commerce Sector
Increase In Cross-Border Trade
Rising Contribution of Road Freight In Intermodal Transportation
Surging Demand for Fast-Delivery Services

Challenges

High Fuel Prices and Road Freight Rates
Stringent Government Regulations

Market Trends

Increasing Focus On Improving Last-Mile Delivery
Growing Emphasis On Sustainability
Ongoing Technological Advancements
Rising Popularity of RFID Tags

Competitive Landscape:

The road freight transportation market in Europe is highly competitive, with fierce competition, price wars, and a focus on service differentiation among various regional and international businesses competing in the market.

The key players in the European road freight transportation market are:

A.P. Moller - Maersk A/S
CMA CGM Group
DACHSER
DB Group
DHL Group
DSV A/S
FedEx
Hellmann Worldwide Logistics
Kuehne+Nagel
Mainfreight
Nordic Transport Group
RETHMANN
SNCF Group

The European road freight market is highly fragmented, with the top five players occupying around 6% share of the European road freight market. Major companies in the market have been implementing both organic and inorganic development strategies to expand their product portfolio and gain a competitive edge.

Key Topics Covered:

1. Executive Summary

2. Introduction
2.1 Road Freight: An Overview
2.2 Road Freight Segmentation: An Overview

3. Europe Market Analysis
3.1 Europe Road Freight Market: An Analysis
3.2 Europe Road Freight Market: Destination Analysis
3.3 Europe Road Freight Market: End User Analysis

4. Europe Regional Market Analysis

5. Impact of COVID-19
5.1 Impact of COVID-19 on Europe Road Freight Market
5.2 Post-COVID-19 Impact on Europe Road Freight Market

6. Market Dynamics

7. Competitive Landscape
7.1 Europe Road Freight Players by Market Share

8. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/dndvog

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SOURCE Research and Markets