Market Size of north america road freight transport Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 633.60 Billion |
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Market Size (2030) | USD 797.29 Billion |
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Largest Share by End User Industry | Manufacturing |
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CAGR (2024 - 2030) | 3.90 % |
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Largest Share by Country | United States |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Road Freight Transport Market Analysis
The North America Road Freight Transport Market size is estimated at 633.60 billion USD in 2024, and is expected to reach 797.29 billion USD by 2030, growing at a CAGR of 3.90% during the forecast period (2024-2030).
633.60 Billion
Market Size in 2024 (USD)
797.29 Billion
Market Size in 2030 (USD)
3.05 %
CAGR (2017-2023)
3.90 %
CAGR (2024-2030)
Largest Market by Distance
72.24 %
value share, Long Haul, 2023
Long-haul trucking dominates the market, supported by increased infrastructure developments by the governments in the region that facilitated the growth of cross-border trades.
Largest Market by Goods Configuration
72.64 %
value share, Solid Goods, 2023
The solid goods segment dominates the market over the fluid goods segment in North America, as most of the goods transported within the solid goods segment contribute to the region's GDP.
Largest Market by End User Industry
32.01 %
value share, Manufacturing, 2023
In 2022, the government announced an investment of up to USD 4 million for the Yves Landry Foundation (YLF) as part of the Achieving Innovation and Manufacturing Excellence Green Initiative.
Fastest Growing Market by Truckload Specification
4.36 %
Projected CAGR, Less than-Truck-Load (LTL), 2024-2030
Several players are expanding their footprint in the LTL trucking segment. For instance, in 2023, TFI International acquired Canadian LTL carrier Siemens Transportation Group.
First Leading Market Player
2.72 %
market share, C.H. Robinson, 2022
C.H. Robinson offers a broad portfolio of services in North America. The increased volume of both LTL and FTL services helped increase the revenue of C.H. Robinson.
The US agricultural exports grew by 10.96% YoY in 2022, driving the growth of the road freight transport market
- In 2022, the agriculture, fishing, and forestry segment experienced significant growth, fueled by record-breaking agricultural exports from the United States, reaching a value of USD 196.40 billion. This represented a substantial increase of 10.96% compared to the previous year (2021). In Canada, the agriculture industry also thrived in 2022, with farmers witnessing a boost in wheat, canola, barley, oats, soybean, and corn production. The rise in production was mainly attributed to improved growing conditions in Western Canada. The U.S. Department of Agriculture introduced the "America Agenda" initiative in 2023, allocating USD 188 million to safeguard vital forestlands. Through 34 projects in the Forest Legacy program, they aim to preserve over 245,000 acres of working forests across 22 states and one island territory.
- In 2021, the construction segment of the road freight transport market experienced growth due to various factors. A key driver was the substantial increase of 14.50% in new residential construction activities, encompassing both single-family and multi-family segments. However, the non-residential construction industry faced a decline of 1.30% during the same period, primarily due to the adverse impacts of the COVID-19 pandemic on travel and in-office work.
- The wholesale and retail trade segment is poised for remarkable growth during the forecast period, mainly fueled by the e-commerce market in North America. The e-commerce market is projected to achieve a significant CAGR of 11.25% during the period 2023-2027. Despite accounting for just 5% of the global population, North America is expected to continue playing a pivotal role in strengthening the global economy.
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United States dominates the North American trucking market, which is expected to improve further due to investments in road infrastructure
- The United States dominated the North American road freight transport market in 2022-2023. Mexico was the largest trade partner to the United States in 2022. Substantially, major road freight operations in North America take place in the United States, Mexico, and Canada. The total trans-border freight amounted to USD 125.8 billion in January 2023, registering a growth of 10% YoY. Trucks moved nearly 62% of the total freight (in value). Detroit, Port Huron, and Buffalo are the top truck ports for the freight flows between the United States and Canada, while Laredo, El Paso, and Otay Mesa are the top truck ports within Mexico.
- Trucking employed 8.4 million people in industry-related jobs, with an increase of over 400,000 YoY, including 3.54 million professional truck drivers in the United States. However, there was a shortage of more than 80,000 drivers in the United States during 2022-2023, which is expected to increase to 160,000 truck drivers by 2030. Mexico and Canada also experienced shortages of drivers.
- There are road infrastructure projects that may be completed in the coming years, which would further improve the trucking industry. These projects include the Gordie Howe International Bridge in Canada, which is expected to improve the transportation between the United States and Canada. In the United States, Pyramid Highway Improvement was proposed, which is forecast to be complete by 2025. The Interstate 680 Express Lane and Pavement Rehabilitation may improve the freight mobility of I-680, preserve the transportation system’s condition, and improve system performance. There is also a substantial investment in electric vehicles by major companies. All these factors are set to drive the road freight in coming years.
