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The cross-border road transport global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cross-Border Road Transport Market, 2024The cross-border road transport global market report 2024
Market Size –
The cross-border road transport market size has grown strongly in recent years. It will grow from $223.85 billion in 2023 to $238.03 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increasing international trade agreements boosting cross-border transport demand, growing economic development in emerging markets driving the need for enhanced road logistics, rising consumer demand for faster delivery times pushing the expansion of road transport networks, expanding e-commerce sector contributing to higher volumes of cross-border shipments and increasing investment in infrastructure development enhancing road connectivity across borders.
The cross-border road transport market size is expected to see strong growth in the next few years. It will grow to $305.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to advancements in digitalization and logistics technologies improving efficiency and tracking, rising focus on sustainability and green logistics driving the adoption of eco-friendly transport solutions, growing use of artificial intelligence and machine learning for route optimization and predictive maintenance, increasing investment in smart transportation infrastructure facilitating smoother cross-border operations and expansion of autonomous vehicle technologies enhancing safety and efficiency in cross-border road transport. Major trends in the forecast period include the emergence of blockchain technology for secure and transparent cross-border transactions, the growth of electric and hybrid trucks addressing environmental concerns and reducing emissions, the development of advanced vehicle-to-everything (v2x) communication systems improving road safety and traffic management, the rise in the integration of internet of things (IoT) devices for real-time monitoring and fleet management and advancement in autonomous driving technology leading to greater efficiency and reduced operational costs.
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Scope Of Cross-Border Road Transport MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cross-Border Road Transport Market Overview
Market Drivers –
The growing e-commerce sector is expected to propel the growth of the cross-border road transport market in the coming years. E-commerce, defined as the buying and selling of goods and services via the internet, has been expanding rapidly due to increasing consumer preference for the convenience of online shopping and advancements in digital technology. Cross-border road transport plays a vital role in e-commerce by ensuring efficient delivery of goods across international borders, thereby enhancing supply chain operations and enabling faster and more reliable customer service. For instance, data from the Office for National Statistics (ONS) in April 2024 indicated that internet sales as a percentage of total retail sales in the UK increased to 30.7% in 2021, up from 28.1% in 2020. Therefore, the expanding e-commerce sector is significantly driving the growth of the cross-border road transport market.
Market Trends –
Major companies operating in the cross-border road transport market are focusing on zero-emission logistics, such as electric truck services, to gain a competitive advantage. Zero-emission logistics refers to the transportation and distribution of goods using vehicles and technologies that produce no direct emissions, such as electric or hydrogen-powered trucks. This approach aims to minimize environmental impact and reduce carbon footprints in supply chains. For instance, in July 2024, Scan Global Logistics A/S, a Denmark-based logistics company, launched an electric cross-border truck service between Malaysia and Singapore. This service features trucks with a range of up to 200 kilometers per charge and the capability to carry up to 12 tons of cargo, offering an eco-friendly alternative to traditional diesel-powered trucks. The electric trucks also incorporate advanced technology for real-time tracking and predictive maintenance, enhancing operational efficiency.
The cross-border road transport market covered in this report is segmented –
1) By Transportation Mode: Freight Transport, Passenger Transport
2) By Cargo Type: Perishable Goods, Non-Perishable Goods, Specialized Cargo
3) By End-user: Manufacturing, Retail And E-commerce, Automotive, Agriculture, Pharmaceuticals And Healthcare, Oil And Gas, Defense And Military Logistics, Individual, Other End-Users
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Regional Insights –
North America was the largest region in the cross-border road transport market in 2023. The regions covered in the cross-border road transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are United Parcel Service Inc., Deutsche Post DHL Group, FedEx Corporation, Deutsche Bahn AG, Kuehne + Nagel International AG, DSV A/S, C.H. Robinson Worldwide Inc., Expeditors International of Washington Inc., Nippon Express Co. Ltd., Sinotrans Limited, Geodis, J.B. Hunt Transport Services Inc., Ryder System Inc., Kerry Logistics Network Limited, Dachser Group SE & Co. KG, XPO Logistics Inc., Toll Group, YRC Worldwide Inc., ArcBest Corporation, Hellmann Worldwide Logistics SE & Co. KG, Mainfreight Limited, Agility Public Warehousing Company K.S.C.P., Bolloré Logistics, CEVA Logistics AG, Rhenus Logistics
Table of Contents
1. Executive Summary
2. Cross-Border Road Transport Market characterstics
3. Cross-Border Road Transport Market Trends And Strategies
4. Cross-Border Road Transport Market – Macro Economic Scenario
5. Global Cross-Border Road Transport Market Size And Growth
….
32. Global Cross-Border Road Transport Market Competitive Benchmarking
33. Global Cross-Border Road Transport Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cross-Border Road Transport Market
35. Cross-Border Road Transport Market Future Outlook and Potential Analysis
36. Appendix
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