The cross-border road transport market has grown steadily over the past few years, expanding from $223.85 billion in 2023 to $238.03 billion in 2024 at a CAGR of 6.3%. The market’s growth has been driven by increasing international trade agreements, economic development in emerging markets, rising consumer demand for faster deliveries, expansion in the e-commerce sector, and significant infrastructure investments. Moving forward, the market is expected to grow to $305.53 billion in 2028 at a CAGR of 6.4%. Growth drivers for the forecast period include advancements in digitalization and logistics technologies, increased focus on sustainability and green logistics, growing use of artificial intelligence for route optimization, more investment in smart transportation infrastructure, and the expansion of autonomous vehicle technologies. Key trends include the emergence of blockchain for secure cross-border transactions, the growth of electric and hybrid trucks, vehicle-to-everything (V2X) communication systems, and the rise of Internet of Things (IoT) devices for real-time monitoring.
Major Driver In The Cross Border Road Transport Market
The growth of the e-commerce sector is set to boost the cross-border road transport market in the coming years. E-commerce, which involves the buying and selling of goods and services online, is expanding rapidly due to increasing consumer preference for online shopping convenience and advancements in digital technology. Cross-border road transport is crucial for e-commerce as it ensures the efficient delivery of goods across international borders, thereby enhancing supply chain operations and improving customer service. According to data from the Office for National Statistics (ONS) released in April 2024, internet sales in the UK as a percentage of total retail sales rose to 30.7% in 2023, up from 28.1% in 2021. Thus, the expanding e-commerce sector is a significant driver of the cross-border road transport market, which is projected to grow from $25 billion in 2023 to $32 billion in 2024, and is expected to reach $45 billion by 2028.
Request A Free Sample Of The Cross Border Road Transport Market Report
Cross Border Road Transport Market Competitive Landscape
Major companies operating in the cross-border road transport 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
Key Cross Border Road Transport Market Trend
Major companies in the cross-border road transport market are increasingly prioritizing zero-emission logistics, such as electric truck services, to gain a competitive edge. Zero-emission logistics refers to the transportation of goods utilizing vehicles and technologies that produce no direct emissions, including electric or hydrogen-powered trucks. This strategy aims to reduce environmental impact and lower carbon footprints throughout supply chains. For example, in July 2024, Scan Global Logistics A/S, a logistics company based in Denmark, introduced 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 a cargo capacity of up to 12 tons, providing an eco-friendly alternative to traditional diesel trucks. Additionally, the electric trucks are equipped with advanced technology for real-time tracking and predictive maintenance, thereby enhancing operational efficiency.
Purchase The Global Cross Border Road Transport Market Report Directly And Get A Swift Delivery
Global Cross Border Road Transport Market Segmentation
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
By Geography:The regions covered in the cross-border road transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the cross-border road transport market in 2023.
The Cross Border Road Transport Global Market Report 2024 furnishes information about the global cross border road transport market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
