The transportation of goods from one place to another has always been a matter of importance. People are mostly aware regarding home delivery of things that they order online, however, it is but a miniscule part of road transport or road freight. Goods are transported on a daily basis from industries to wholesale stores or retail stores, or from wholesale to retail stores. This transportation of merchandise and goods via road, using vehicles such as vans or trucks, is referred to as road freight. While goods can now be transferred via air or ocean transport, road transport remains one of the most common ways of delivering goods.
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Road freight is effective, efficient and significantly cheaper than air freight. Swift urbanization and expanding e-commerce sector are among the key factors resulting in the rising demand for road freight. As the spending ability of people and awareness regarding e-commerce services is growing, the need for efficient and faster delivery systems is also increasing. It is because of all these factors, that the global road freight transportation market is projected to progress at a considerable rate in the coming years. Medium & heavy commercial vehicles and light commercial vehicles are utilized for road freight services.
Between these two, the demand for light commercial vehicles is predicted to increase substantially in the near future, which can be ascribed to the growing adoption of such vehicles for transporting different kinds of consumer products, including food & beverages. Among the different industries, such as oil & gas, food & beverage, chemical, and healthcare, the largest demand for road freight transportation services was created by the oil & gas industry in the past. This is particularly attributed to the growth of the industry, which leads to a higher demand for crude and refined oil transportation.
Other than this, the demand for these services is expected to rise significantly from the food & beverages industry in the years to come. The income of middle-class population has been increasing on account of strong economic growth in several countries, which, along with the surging population, is leading to a rising need for eatables. Road freight transportation services are utilized widely for the delivery of food products from different places. Geographically, the Asia-Pacific region has emerged as the largest road freight transportation market in the recent years, owing to the favorable government policies in countries including China and India pertaining to the e-commerce industry.
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Hence, the demand for road freight transportation services is growing due to the expanding e-commerce industry and adoption of Industry 4.0.
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