Nordics Road Freight Transport Market Size

Nordics Road Freight Transport Market Analysis

The Nordics Road Freight Transport Market size is estimated at 29.99 billion USD in 2024, and is expected to reach 37.19 billion USD by 2030, growing at a CAGR of 3.65% during the forecast period (2024-2030).

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29.99 Billion

Market Size in 2024 (USD)

37.19 Billion

Market Size in 2030 (USD)

2.68 %

CAGR (2017-2023)

3.65 %

CAGR (2024-2030)

Largest Market by Distance

75.69 %

value share, Long Haul, 2023

Trade growth generated significant demand for long-haul trucking in Nordics. For instance, in 2022, exports recorded a growth of 22.97% YoY, while imports recorded a growth of 8.01% YoY.

Largest Market by Goods Configuration

71.45 %

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

31.23 %

value share, Manufacturing, 2023

The manufacturing sector is a significant contributor to the Finnish economy in the Nordics, accounting for about half of Finland's exports and almost 30% of the GDP.

Fastest Growing Market by Truckload Specification

4.09 %

Projected CAGR, Less than-Truck-Load (LTL), 2024-2030

In Denmark, SMEs account for 98.7% of all enterprises, generating significant demand for LTL trucking. The significant presence of SMEs in Nordics drives the demand for LTL trucking.

First Leading Market Player

4.89 %

market share, DB Schenker, 2022

DB Schenker is the leading market player with a network of 180 offices in the Nordics region. It also handles over 42 million shipments annually.

Sweden leads the Nordic region in mobile shopping penetration, with nearly 80% of consumers making purchases via phones

Sweden leading the Nordics road freight market in terms of value

Nordics Road Freight Transport 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. Denmark, Finland, Iceland, Norway, Sweden are covered as segments by Country.

• The oil and gas, mining, and quarrying sector is the major contributor to the economy of the Nordics. In 2022, the mining industry in Finland experienced robust investments, leading to an uptick in extraction activities. Keliber Technology Oy initiated preliminary measures for mining endeavors at the Syväjärvi mine. Both local and global mineral exploration efforts increased, propelled by the growing demand for metals essential to the green transition. A total of 22 companies reported extraction operations across 44 mines. Throughout the year, investments totaling EUR 304 million were channeled into initiatives aimed at extending the operational lifespan of mines, marking a slight 2% decrease compared to the previous year.
• Sweden is a major contributing country in the wholesale and retail sector, with a share of more than 11% in 2022, valued at SEK 585,826 million (USD 56,099 million). In 2021, Sweden had the highest mobile shopping penetration, with nearly 80% of Swedish consumers purchasing goods via their phones.
• Denmark, Finland, Norway, and Sweden were early adopters of the Internet. These countries have highly developed digital infrastructure. Online shopping is very popular in the Nordics, but research shows that there is still room for growth in the region. The e-commerce market in Nordics is expected to generate USD 55.97 billion in revenue in 2027, registering a CAGR of 8.67% from 2023 to 2027. Moreover, by 2027, the number of e-commerce users is expected to reach 21.2 million. User penetration was expected to be 38.2% in 2023, and it is anticipated to increase to 37.7% by 2027.