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Europe Road Freight Transport Market Projected to Reach USD 584 Billion by 2029

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Dublin, April 01, 2024 (GLOBE NEWSWIRE) -- The "Europe Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029" report has been added to ResearchAndMarkets.com's offering.

The European Road Freight Transport sector is exhibiting a robust growth trajectory, with forecasts indicating an ascent to USD 584.34 billion by the year 2029, burgeoned by a compounded annual growth rate of 3.30% from 2024 to 2029. This expansion is attributed to various factors, including the increasing efficiency of long haul operations, a surge in solid goods transportation, and a significant contribution from the manufacturing sector.

Driving Factors in the Market

Long distance transport, particularly long haul, remains the predominant segment, with European nations' close-knit geographical links facilitating expansive trade networks. Solid goods transportation holds sway over liquid goods, reflecting the extensive spectrum of solid merchandise moving through the continent, integral to value-added market outputs. The manufacturing sector emerges as the principal end-user, underscoring the sector's critical role in the European economic infrastructure, with more than 2 million enterprises. Moreover, the Less than Truckload (LTL) segment is witnessing expedited growth rates, powered by the heightened participation of small and medium-sized enterprises (SMEs) leveraging the benefits of European transport systems for their logistical needs.

Regional Highlights

Germany stands at the forefront of the European market in terms of trade volumes, with a substantial footprint in road freight transport, demonstrated by significant commercial vehicle registrations and a resilient market presence following challenging economic conditions. France and the United Kingdom follow suit, with notable trade volumes and consistent investment in inland transport infrastructure to support the dynamic nature of commercial and public transportation demands. The European Road Freight Transport industry displays a fragmented market paradigm, with the collective presence of market leaders such as Dachser, DB Schenker, Deutsche Post DHL Group, DSV, and Kuehne + Nagel, who together hold a market share of 7.27%. These organizations play a pivotal role in shaping the market landscape through strategic expansions, innovative solutions, and service diversification.

Economic Impact and Industry Dynamics

The comprehensive analysis reflects an intricate relationship between the road freight transport sector and overarching economic indicators, with thorough insights into the sector's influence on regional Gross Domestic Product (GDP), infrastructure spending, and the proliferation of enterprise-level activities. The market has demonstrated a resilient rebound from recent global disruptions, showcasing adaptability and sustained growth potential in a dynamic economic climate. The industry continues to evolve, as major players and newcomers alike drive innovation and contribute to the maturation of the European Road Freight Transport sector. The industry's growth furnishes vital insights for stakeholders and investors, marking the sector as a critical component in the European economic machinery and a bellwether for transportation trends worldwide.

A selection of companies mentioned in this report includes, but is not limited to:

  • C.H. Robinson

  • Dachser

  • DB Schenker

  • Deutsche Post DHL Group

  • DSV

  • FedEx

  • Kuehne + Nagel

  • Maersk

  • Mainfreight

  • Scan Global Logistics

  • XPO Logistics Inc.

For more information about this report visit https://www.researchandmarkets.com/r/s9mkpm

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