North America Road Freight Transport Market Size

North America Road Freight Transport Market Analysis

The North America Road Freight Transport Market size is estimated at 633.60 billion USD in 2024, and is expected to reach 797.29 billion USD by 2030, growing at a CAGR of 3.90% during the forecast period (2024-2030).

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633.60 Billion

Market Size in 2024 (USD)

797.29 Billion

Market Size in 2030 (USD)

3.05 %

CAGR (2017-2023)

3.90 %

CAGR (2024-2030)

Largest Market by Distance

72.24 %

value share, Long Haul, 2023

Long-haul trucking dominates the market, supported by increased infrastructure developments by the governments in the region that facilitated the growth of cross-border trades.

Largest Market by Goods Configuration

72.64 %

value share, Solid Goods, 2023

The solid goods segment dominates the market over the fluid goods segment in North America, as most of the goods transported within the solid goods segment contribute to the region's GDP.

Largest Market by End User Industry

32.01 %

value share, Manufacturing, 2023

In 2022, the government announced an investment of up to USD 4 million for the Yves Landry Foundation (YLF) as part of the Achieving Innovation and Manufacturing Excellence Green Initiative.

Fastest Growing Market by Truckload Specification

4.36 %

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

Several players are expanding their footprint in the LTL trucking segment. For instance, in 2023, TFI International acquired Canadian LTL carrier Siemens Transportation Group.

First Leading Market Player

2.72 %

market share, C.H. Robinson, 2022

C.H. Robinson offers a broad portfolio of services in North America. The increased volume of both LTL and FTL services helped increase the revenue of C.H. Robinson.

The US agricultural exports grew by 10.96% YoY in 2022, driving the growth of the road freight transport market

United States dominates the North American trucking market, which is expected to improve further due to investments in road infrastructure

North America 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. Canada, Mexico, United States are covered as segments by Country.

• In 2022, the agriculture, fishing, and forestry segment experienced significant growth, fueled by record-breaking agricultural exports from the United States, reaching a value of USD 196.40 billion. This represented a substantial increase of 10.96% compared to the previous year (2021). In Canada, the agriculture industry also thrived in 2022, with farmers witnessing a boost in wheat, canola, barley, oats, soybean, and corn production. The rise in production was mainly attributed to improved growing conditions in Western Canada. The U.S. Department of Agriculture introduced the "America Agenda" initiative in 2023, allocating USD 188 million to safeguard vital forestlands. Through 34 projects in the Forest Legacy program, they aim to preserve over 245,000 acres of working forests across 22 states and one island territory.
• In 2021, the construction segment of the road freight transport market experienced growth due to various factors. A key driver was the substantial increase of 14.50% in new residential construction activities, encompassing both single-family and multi-family segments. However, the non-residential construction industry faced a decline of 1.30% during the same period, primarily due to the adverse impacts of the COVID-19 pandemic on travel and in-office work.
• The wholesale and retail trade segment is poised for remarkable growth during the forecast period, mainly fueled by the e-commerce market in North America. The e-commerce market is projected to achieve a significant CAGR of 11.25% during the period 2023-2027. Despite accounting for just 5% of the global population, North America is expected to continue playing a pivotal role in strengthening the global economy.