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United Kingdom Road Freight Transport Market Poised for Growth, Dominated by Wholesale and Retail Trade Sector …

Dublin, March 05, 2024 (GLOBE NEWSWIRE) -- The "United Kingdom Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029"[1] report has been added to ResearchAndMarkets.com's offering. The United Kingdom Road Freight Transport Market size is estimated at USD 69.23 billion in 2024, and is expected to reach USD 79.70 billion by 2029, growing at a CAGR of 2.86% during the forecast period (2024-2029).

Key Highlights

  • Largest Segment by Distance - Long Haul : The long-haul segment garnered the highest market share in the UK road freight transport market due to government initiatives to increase infrastructure developments and facilitate the growth of cross-border trucking.
  • Largest Segment by Product Type - Solid Goods : Solid goods dominate the product type segment in the United Kingdom over liquid goods. Construction, textile and apparel, machinery and equipment, electronics, automobiles, and other industries are included in the solid goods category.
  • Largest Segment by End User - Wholesale and Retail Trade : The United Kingdom has the most advanced e-commerce market in Europe. With the most lucrative e-commerce market across the country, the United Kingdom's wholesale and retail trade sector also leads the road freight transport market.
  • Fastest Growing Segment by TruckLoad Specification - Less than Truckload : Less-than truckload is the fastest-growing segment in the UK road freight transport market, as 85% of the domestic freight moved in the country is transported on roads.

Wholesale and Retail Trade is the largest segment by End User.

  • The Gross Value Added (GVA) of the UK manufacturing industry amounted to approximately GBP 194 billion (USD 261.69 billion) in 2021, up from GBP 182.3 (USD 247.51 billion) in 2020.

    In 2021, the manufacturing industry had approximately 270 thousand business enterprises in the United Kingdom, 5,353 of which were large enterprises employing 500 or more people.

  • E-commerce revenue in the United Kingdom is expected to grow to reach USD 119.1 billion in 2025. In 2020, the e-commerce revenue from the sales of fashion products like apparel and bags increased by over USD 5 billion to around USD 33.5 billion, the third consecutive increase since 2017. This increasing trend may continue, and e-commerce revenue from sales in the fashion market may reach USD 49.5 billion by 2025.
  • Consumers in the United Kingdom spent approximately GBP 12 billion (USD 16.29 billion) on pharmaceutical products in 2020.

    Since 2012, consumer spending in this market has more than doubled and increased YoY in the provided time interval. In 2020, the country imported over GBP 4.5 billion (USD 6.10 billion) worth of pharmaceutical products from the Netherlands. Thus, the Netherlands had the highest value of pharmaceutical products imported into the United Kingdom, followed by Germany and Belgium.

UK Road Freight Transport Industry Overview

The United Kingdom Road Freight Transport Market is fragmented, with the top five companies occupying 15.36%. The major players in this market are Deutsche Post DHL Group, FedEx, Turners (Soham) Limited, United Parcel Service (UPS) and Wincanton PLC (sorted alphabetically). For more information about this report visit https://www.researchandmarkets.com/r/jgr55a[2]

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References

  1. ^ United Kingdom Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029 (www.researchandmarkets.com)
  2. ^ https://www.researchandmarkets.com/r/jgr55a (www.researchandmarkets.com)
  3. ^ United Kingdom Road Freight Transport Market United Kingdom Road Freight Transport Market C A G R By End User 2022 2028 (ml.globenewswire.com)

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