Market Size of Colombia Road Freight Transport Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 8.86 Billion |
| Market Size (2029) | USD 12.17 Billion |
| CAGR (2024 - 2029) | 6.54 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Colombia Road Freight Transport Market Analysis
The Colombia Road Freight Transport Market size is estimated at USD 8.86 billion in 2024, and is expected to reach USD 12.17 billion by 2029, growing at a CAGR of 6.54% during the forecast period (2024-2029).
In most low and middle-income countries, trucking is the main method of freight. Road travel is the main mode of transportation in Colombia. The road freight market is driven by the growth of exports from the agricultural sector. The structure of the road freight industry in Colombia is complex and fragmented.
COVID-19 has positively impacted Colombia's road freight market. Due to the lockdown in the country, people started purchasing goods online. The country has 164,000 kilometers of roads, 86% of which have not been paved but are still in use and development. With total revenue of USD 8.156 billion, the road segment category was the most profitable part of the industry in 2019. It was equivalent to 83.5% of the total value of the industry.
The road freight market is highly dependent on the imports and exports in Colombia. Petroleum is Colombia's main export product, accounting for more than 45% of Colombia's exports. Manufacturing accounts for almost 12% of Colombia's exports, and it is growing at a rate of more than 10% every year.
