Market Size of europe road freight transport Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 496.83 Billion |
|
|
Market Size (2030) | USD 601.59 Billion |
|
Largest Share by End User Industry | Manufacturing |
|
|
CAGR (2024 - 2030) | 3.24 % |
|
Largest Share by Country | United Kingdom |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Europe Road Freight Transport Market Analysis
The Europe Road Freight Transport Market size is estimated at 496.83 billion USD in 2024, and is expected to reach 601.59 billion USD by 2030, growing at a CAGR of 3.24% during the forecast period (2024-2030).
496.83 Billion
Market Size in 2024 (USD)
601.59 Billion
Market Size in 2030 (USD)
2.37 %
CAGR (2017-2023)
3.24 %
CAGR (2024-2030)
Largest Market by Distance
73.37 %
value share, Long Haul, 2023
The long-haul segment has been dominant in the European road freight market as the countries in the region share close borders that foster trade between them.
Largest Market by Goods Configuration
73.33 %
value share, Solid Goods, 2023
Solid goods dominate the market as the majority of goods transported are within the solid goods segment, which also contributes to the region's value-added output broadly.
Largest Market by End User Industry
35.06 %
value share, Manufacturing, 2023
Growth in advanced manufacturing in Europe is expected to offer excellent export potential for industries such as machine tools, robotics, and electronics.
Fastest Growing Market by Truckload Specification
3.63 %
Projected CAGR, Less than-Truck-Load (LTL), 2024-2030
The LTL segment's growth is attributable to the booming e-commerce industry. Europe’s e-commerce is expected to register a CAGR of 8.85% during 2023-2027.
First Leading Market Player
3.06 %
market share, DB Schenker, 2022
DB Schenker operates from 430 land transport branches across 38 European countries. It uses the first hydrogen-powered 40-ton truck in cross-border transportation in Europe.
Retail e-commerce surge driving advancements in the wholesale and retail trade end user segment
- In 2022, the manufacturing end-user segment grew due to the rise in human-robot collaboration, which boosted production. Germany is the fifth largest robot market globally, with 22,000 industrial robots utilized in various industries, accounting for 6% of the global robot installations as of 2021. Moreover, in 2021, the Schwarz Group, a German food retailer, emerged as the foremost retail company in Europe, with a total revenue of USD 153.75 billion within the region. In Germany, the retail sales of consumer durables were projected to increase by 1.50% YoY in 2022. This was supported by an estimated 5.40% increase in private consumption in 2022.
- In Europe's oil and gas, mining, and quarrying sectors, German regasification plans are one of the factors driving growth in the oil and gas end-user segments. Russia supplies the country's natural gas needs. As a result, Germany is expected to add the highest LNG regasification capacity in Europe between 2022 and 2026, accounting for 36% of the region's total capacity additions by 2026. In 2022, Italy's net energy import costs are expected to more than double, reaching USD 113.24 billion.
- The wholesale and retail trade end-user segment is poised for substantial growth in the upcoming years, primarily driven by the anticipated expansion of the European e-commerce industry, projected to register a compounded annual growth rate (CAGR) of 8.85 from 2023 to 2027. In the context of the German e-commerce landscape, it is projected that the market will encompass 68.4 million users by 2025, achieving a penetration rate of 81.9%, marking an increase from 80.1% in 2022.
Understand The Key Trends Shaping This Market
Download Sample
Increasing road freight volume transported across Europe and government initiatives to develop the infrastructure are driving the growth in the market
- In 2022, the EU and extra-EU tons transported by international road freight transportation in France were major. For instance, the total EU/extra-EU transported by road between France and Switzerland held a share of 7.3% of the total tonnage transported by road, and the total EU/extra-EU transported by road between France and the United Kingdom held a share of 6.5% in 2022. Road haulage transported 68.1% of Italian goods during the first half of 2022, resulting in a 1.5% increase in transport (measured in tonne-km) compared to the previous year. The number of companies in the Italian road haulage sector reached approximately 100,797 units at the end of 2022, a rise of 1.34% from 99,465 at the end of 2021.
- The road freight transport market employs about 430,000 employees in Germany in about 35,000 road freight companies, which has been stable over the past five years. The fleet with a carrying capacity of 3.5 tons in 2021 was 964,696 in Germany and had a growth of 1.3% compared to 2020 and 3.4% over five years. The declining activity in all major economies and inflation, which led to a rise in fuel and wage costs, resulted in the decline of freight transportation through trucks between the 27th and 30th week of 2022 in the Netherlands. Since week 25, the weekly decrease in the movement of trucks was 9-21% lower than the same week in 2021.
- In the Nordics, the overseas shipments of trucks increased by 6.7% in 2022. The main destinations for truck exports from Denmark are the Netherlands, Poland, and Germany, with a combined 54% share of total exports. In the UK, the top five countries for exports and imports have remained relatively constant over time. However, exports to Germany decreased from 1.4 million tons in 2000 to 0.19 million tons in 2021.
