Market Size of asia pacific road freight transport Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 0.97 Trillion |
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Market Size (2030) | USD 1.39 Trillion |
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Largest Share by End User Industry | Manufacturing |
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CAGR (2024 - 2030) | 6.26 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
APAC Road Freight Market Analysis
The Asia Pacific Road Freight Transport Market size is estimated at 0.97 trillion USD in 2024, and is expected to reach 1.39 trillion USD by 2030, growing at a CAGR of 6.26% during the forecast period (2024-2030).
0.97 Trillion
Market Size in 2024 (USD)
1.39 Trillion
Market Size in 2030 (USD)
5.13 %
CAGR (2017-2023)
6.26 %
CAGR (2024-2030)
Largest Market by Distance
75.23 %
value share, Long Haul, 2023
China aims to expand its expressways to 130,000 km by 2027, recording an increase of 11% from 2021. This expansion is expected to further strengthen the long-haul trucking segment.
Largest Market by Goods Configuration
69.39 %
value share, Solid Goods, 2023
Solid goods dominate the market, as industries such as construction, textiles, machinery, electronics, and automobiles majorly contribute to the demand for road freight services.
Largest Market by End User Industry
38.86 %
value share, Manufacturing, 2023
The manufacturing segment of the Asia-Pacific road freight market recorded growth in 2022, partly led by Chinese carmakers producing 27.02 million units in 2022, up by 3.40% YoY.
Fastest Growing Market by Truckload Specification
7.06 %
Projected CAGR, Less than-Truck-Load (LTL), 2024-2030
The LTL segment's growth is attributable to the booming e-commerce industry. E-commerce in Asia-Pacific is also expected to record a CAGR of 11.92% during 2023-2027.
First Leading Market Player
1.73 %
market share, Nippon Express Holdings., 2022
Nippon Express has a presence in 733 locations and a fleet of 13,818 vehicles. The company handles over 2.1 million sq. m of warehousing space in Asia-Pacific.
The Government of Australia focusing on the Modern Manufacturing Strategy project by investing more than USD 1.5 billion
- Manufacturing is a key component of the Government of Australia's plan to deliver a strong, modern, and resilient economy for the Australian people. The USD 1.5 billion Modern Manufacturing Strategy project aims to build Australia's reputation as a high-quality and sustainable manufacturing nation by setting the right economic conditions for business, promoting science and technology for industries, focusing on the areas of manufacturing advantage, and building national resilience for a stronger economy.
- In 2022, in China, the gross production value of agricultural products amounted to USD 1.3 trillion, which has shown a YoY growth of more than 6%. The agriculture industry is a significant driver of domestic road freight services' growth due to the increasing output of agricultural products. For example, despite the pandemic, China's overall grain output reached 685 million tonnes in 2022, an increase of 3.7 million tonnes over 2021. This resulted in an increased demand for road freight services. According to the Government Work Report, food security is one of six key government jobs in 2023, with grain production expected to increase by 50 million tonnes.
- In India, the total foodgrain production in the country in 2022-23 was estimated to go up to a record 330.5 million tons (MT) from 315.6 million MT. The government has taken a lot of initiatives to create reliable and connected agri logistics networks across the country for transporting agricultural products. The government has introduced the “Kisan Rath” smartphone app to make it easy for farmers, FPOs, and traders to rent vehicles for transporting agri-products.
Enhancement of truck digitalization and growth of truckload segments boosting the market in the region
- Australia is a close third in terms of trade volumes in Asia-Pacific. The Australian government plans to invest AUD 110 billion (USD 79.81 billion) in land transport infrastructure over the next 10 years from 2021-2022, through its rolling infrastructure pipeline. The majority of this share will be funded under the infrastructure investment program. This program is part of the government's larger plan to reduce traffic congestion, improve regional connectivity, address the national freight challenge, bring Australians home faster and safer, and build a stronger and more resilient country. The government has announced commitments of AUD 15.2 billion over 10 years for road, rail, and community infrastructure projects as part of its stimulus measures to support employment.
- Machinery and equipment (M&E) are significant to the Malaysian economy, and the country recorded a 25.5% YoY growth in M&E exports in 2022. Moreover, the country anticipated robust growth in the oil and gas industry in 2023. The significant developments in the machinery as well as chemicals and hazardous goods industries will further contribute to the growth of the FTL segment in Malaysia. Major players in Malaysia offering FTL transport services comprise Rhenus Logistics, Yakheng, and Gocarry.
- In 2023, India was to spend over 1.7% of its GDP on transport infrastructure, twice the expenditure undertaken by the Americas and Europe. Almost 90% of the vehicles are owned, with small operators as well as larger ones. Truck digitization has still not been adopted on a large scale in India, but is expected to enhance long haul trucking services in the country over the coming years. In this regard, India anticipated the first slot of deliveries of 2,000 electric semi-trucks in 2022.
Asia Pacific Road Freight Transport Industry Segmentation APAC Road Freight Industry Segmentation
Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others are covered as segments by End User Industry. Domestic, International are covered as segments by Destination. Full-Truck-Load (FTL), Less than-Truck-Load (LTL) are covered as segments by Truckload Specification. Containerized, Non-Containerized are covered as segments by Containerization. Long Haul, Short Haul are covered as segments by Distance. Fluid Goods, Solid Goods are covered as segments by Goods Configuration. Non-Temperature Controlled, Temperature Controlled are covered as segments by Temperature Control. Australia, China, India, Indonesia, Japan, Malaysia, Thailand, Vietnam are covered as segments by Country.
- Manufacturing is a key component of the Government of Australia's plan to deliver a strong, modern, and resilient economy for the Australian people. The USD 1.5 billion Modern Manufacturing Strategy project aims to build Australia's reputation as a high-quality and sustainable manufacturing nation by setting the right economic conditions for business, promoting science and technology for industries, focusing on the areas of manufacturing advantage, and building national resilience for a stronger economy.
- In 2022, in China, the gross production value of agricultural products amounted to USD 1.3 trillion, which has shown a YoY growth of more than 6%. The agriculture industry is a significant driver of domestic road freight services' growth due to the increasing output of agricultural products. For example, despite the pandemic, China's overall grain output reached 685 million tonnes in 2022, an increase of 3.7 million tonnes over 2021. This resulted in an increased demand for road freight services. According to the Government Work Report, food security is one of six key government jobs in 2023, with grain production expected to increase by 50 million tonnes.
- In India, the total foodgrain production in the country in 2022-23 was estimated to go up to a record 330.5 million tons (MT) from 315.6 million MT. The government has taken a lot of initiatives to create reliable and connected agri logistics networks across the country for transporting agricultural products. The government has introduced the “Kisan Rath” smartphone app to make it easy for farmers, FPOs, and traders to rent vehicles for transporting agri-products.
| End User Industry | |
| Agriculture, Fishing, and Forestry | |
| Construction | |
| Manufacturing | |
| Oil and Gas, Mining and Quarrying | |
| Wholesale and Retail Trade | |
| Others |
| Destination | |
| Domestic | |
| International |
| Truckload Specification | |
| Full-Truck-Load (FTL) | |
| Less than-Truck-Load (LTL) |
| Containerization | |
| Containerized | |
| Non-Containerized |
| Distance | |
| Long Haul | |
| Short Haul |
| Goods Configuration | |
| Fluid Goods | |
| Solid Goods |
| Temperature Control | |
| Non-Temperature Controlled | |
| Temperature Controlled |
| Country | |
| Australia | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Thailand | |
| Vietnam | |
| Rest of Asia Pacific |
Asia Pacific Road Freight Transport Market Size Summary
The Asia Pacific Road Freight Market is poised for significant growth, driven by various economic and infrastructural developments across the region. Countries like Australia, China, India, and Malaysia are making substantial investments in transport infrastructure and logistics networks to enhance connectivity and support economic resilience. Australia's Modern Manufacturing Strategy and infrastructure investments aim to bolster its manufacturing sector, while China's agricultural output continues to drive demand for road freight services. In India, government initiatives like the "Kisan Rath" app are streamlining agri-logistics, and substantial investments in transport infrastructure are expected to boost the sector further. Malaysia's machinery and equipment exports, along with developments in the oil and gas industry, are contributing to the growth of the freight transport segment. The region's strategic position in global trade, with two-thirds of seaborne trade and nine of the world's busiest container ports, underscores its importance in the global logistics landscape.
The market is characterized by a fragmented landscape with major players like A.P. Moller - Maersk, CMA CGM Group, and Nippon Express Holdings holding a small share. The region's road freight sector is heavily influenced by rising oil prices and geopolitical uncertainties, which have led to increased transportation costs. Despite these challenges, the market is expected to expand, supported by policy measures and investments in infrastructure and technology. The introduction of electric vehicles and digital solutions in countries like India is anticipated to enhance efficiency in freight transport. Additionally, international collaborations and investments, such as DHL Express's expansion in Hong Kong, are set to strengthen intra-Asia trade and connectivity with other regions.
Asia Pacific Road Freight Transport Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)
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1.1 End User Industry
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1.1.1 Agriculture, Fishing, and Forestry
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1.1.2 Construction
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1.1.3 Manufacturing
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1.1.4 Oil and Gas, Mining and Quarrying
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1.1.5 Wholesale and Retail Trade
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1.1.6 Others
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1.2 Destination
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1.2.1 Domestic
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1.2.2 International
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1.3 Truckload Specification
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1.3.1 Full-Truck-Load (FTL)
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1.3.2 Less than-Truck-Load (LTL)
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1.4 Containerization
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1.4.1 Containerized
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1.4.2 Non-Containerized
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1.5 Distance
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1.5.1 Long Haul
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1.5.2 Short Haul
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1.6 Goods Configuration
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1.6.1 Fluid Goods
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1.6.2 Solid Goods
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1.7 Temperature Control
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1.7.1 Non-Temperature Controlled
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1.7.2 Temperature Controlled
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1.8 Country
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1.8.1 Australia
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1.8.2 China
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1.8.3 India
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1.8.4 Indonesia
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1.8.5 Japan
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1.8.6 Malaysia
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1.8.7 Thailand
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1.8.8 Vietnam
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1.8.9 Rest of Asia Pacific
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Asia Pacific Road Freight Transport Market Size FAQs
How big is the Asia Pacific Road Freight Transport Market?
The Asia Pacific Road Freight Transport Market size is expected to reach USD 967.55 billion in 2024 and grow at a CAGR of 6.26% to reach USD 1392.76 billion by 2030.
What is the current Asia Pacific Road Freight Transport Market size?
In 2024, the Asia Pacific Road Freight Transport Market size is expected to reach USD 967.55 billion.
