Global Road Freight Transportation Market to Reach US$4.8 Trillion by the Year 2027
Amid the COVID-19 crisis, the global market for Road Freight Transportation estimated at US$3.5 Trillion in the year 2020, is projected to reach a revised size of US$4.8 Trillion by 2027, growing at a CAGR of 4.9% over the period 2020-2027.
The U.S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 7.5% CAGR for the Period of 2020-2027
The Road Freight Transportation market in the U.S. is estimated at US$938.2 Billion in the year 2020. The country currently accounts for a 27.11% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$986 Billion in the year 2027 trailing a CAGR of 7.5% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$986 Billion by the year 2027.We bring years of research experience to this 8th edition of our report. The 142-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
- Competitors identified in this market include, among others,
- Alkom-Trans SIA
- DB Schenker
- Deutsche Post AG (DHL Group)
- DSV A/S
- Fercam S.p.A.
- First European Logistics Ltd.
- FM Logistic
- Gondrand Group
- Ital Logistics Ltd.
- KLG Europe
- Kuehne + Nagel, Inc.