Chile Road Freight Transport Market Size (2024 - 2029)

Chile Road Freight Transport Market Analysis

During the time frame of the forecast, the Chilean road freight transport market is expected to grow at a CAGR of more than 4%.

The COVID-19 limited the number of people who could work on road freight and product distribution in South America and many other parts of the world. This made it harder to import goods.The government came up with other ways to keep Chilean markets stable and create export opportunities that would last until the global economy and markets got back to normal.This made the road freight industry sustainable to a certain extent.

The World Bank has ranked Chile as the region's best in terms of logistics in Latin America and the Caribbean. However, it remains below the competitiveness levels of other OECD countries.

In the first quarter of 2020, because of COVID-19, the number of online orders dropped by 42.2%.After the first quarter, the e-commerce industry started improving, and sales increased to 9.4% during the pandemic. The National Institute of Statistics said that the Transportation Cost Index (ICT) went up by 2.2% each month in January 2021.The rise in the fuel group (5.5%), which had an effect of 1,269 percentage points (pp), was the main reason for the result.

In January 2021, the Chilean Ministry of Science started a new open innovation challenge to find a way for cargo-carrying vehicles to move around in the city of Santiago. This method would use automatic data generation, collection, and processing technologies. This will help plan and develop quality, efficient, safe, and sustainable transport systems. Road congestion in Santiago generates, on average, an extra 47 minutes of travel per day (Traffic Index), which, according to the Inter-American Development Bank (IDB), increases freight transport costs by almost 13 billion pesos (1 Peso is equals to USD 0.018) annually.

Chile Road Freight Transport Industry Segmentation

The transportation of goods/products via roadways is referred to as road freight transport. It is also one of the world's most traditional kinds of logistics, as well as the most widely used mode of transportation worldwide. If and when needed, road freight is utilized in combination with air and sea freight modes to provide door-to-door delivery. A comprehensive background analysis of the Chile road freight market covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry is provided in this report. The impact of COVID-19 has also been incorporated and considered during the study.

The Chile Road Freight Market is segmented by destination (domestic and international), by end user (manufacturing (including automotive), oil and gas, mining and quarrying, agriculture, fishing, and forestry, construction, pharmaceuticals and healthcare, and other end users). The report offers market size and forecast values in (USD) for all the above segments.