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Nordics Road Freight Transport Market Size

The Nordics Road Freight Transport Market is projected to experience growth over the forecast period, driven by key sectors such as oil and gas, mining, and quarrying, which significantly contribute to the region's economy. The market's expansion is supported by advancements in digital infrastructure and the increasing popularity of online shopping, although there remains potential for further growth in e-commerce. Denmark's development of efficient transport corridors and the high demand for LTL trucking from SMEs are notable factors enhancing road freight logistics. Sweden, Norway, and Finland are major contributors to the market, with Sweden leading in revenue contribution. Additionally, infrastructure improvement projects and the adoption of electric vehicles are expected to play crucial roles in the market's future development.

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Market Size of nordics road freight transport Industry

Nordics Road Freight Transport Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 29.99 Billion
svg icon Market Size (2030) USD 37.19 Billion
svg icon Largest Share by End User Industry Manufacturing
svg icon CAGR (2024 - 2030) 3.65 %
svg icon Largest Share by Country Sweden
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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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).

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

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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

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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

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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

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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

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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

  • 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.
Nordics Road Freight Transport Market

Sweden leading the Nordics road freight market in terms of value

  • In 2022, overseas shipments of trucks increased by 6.7%. The Netherlands, Poland, and Germany were the main destinations of truck exports from Denmark, with a combined 54% share of total exports. The country has been developing efficient transport corridors, which has led to an increase in the efficiency of road freight logistics networks and systems. In Denmark, SMEs account for 98.7% of enterprises that generate a significant demand for LTL trucking. Road transport in Denmark increased by 2.1% points since 2021. At 91.3%, the percentage reached its highest value in the observed period.
  • Sweden has the maximum revenue contribution (2021) in the Nordics region, with around 35.23%, followed by Norway with 24.37%. Finland has the second-highest revenue share in the region due to many factors. In 2021, 3,536 trucks were registered in Finland. The brand with the most registrations was Volvo (932 trucks), followed by Scania (850 trucks). In the same year, the number of first registrations of Mercedes Benz trucks reached 750. The demand for trucks is expected to increase further during the forecast period. Norway, with 18.54% contribution, and Denmark, with 14.23% revenue contribution.
  • A part of the 2023-2030 investment program comprises 29 core infrastructure improvement projects, 14 improvement projects in the rest of the road network, and around 50 basic infrastructure improvement projects. In 2023, Posti, the national postal operator of Finland, introduced the first-of-its-kind electric truck, a semi-trailer truck, and aims to increase the electric truck fleet to 10. The Icelandic government announced measures to phase out all fossil fuels throughout the energy sector, including the road transport sector, by 2050.

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.
End User Industry
Agriculture, Fishing, and Forestry
Construction
Manufacturing
Oil and Gas, Mining and Quarrying
Wholesale and Retail Trade
Others
Destination
Domestic
International
Truckload Specification
Full-Truck-Load (FTL)
Less than-Truck-Load (LTL)
Containerization
Containerized
Non-Containerized
Distance
Long Haul
Short Haul
Goods Configuration
Fluid Goods
Solid Goods
Temperature Control
Non-Temperature Controlled
Temperature Controlled
Country
Denmark
Finland
Iceland
Norway
Sweden
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Nordics Road Freight Transport Market Size Summary

The Nordics Road Freight Transport Market is poised for steady growth, driven by the region's robust economic activities, particularly in sectors like oil and gas, mining, and quarrying. The market is characterized by a fragmented landscape with major players such as DB Schenker, DFDS Logistics, DHL Group, FREJA Transport & Logistics A/S, and NTG Nordic Transport Group holding significant shares. The region's advanced digital infrastructure and high mobile shopping penetration, especially in Sweden, have bolstered the wholesale and retail sectors, further fueling demand for efficient road freight logistics. The development of transport corridors in countries like Denmark has enhanced logistics network efficiency, supporting the increasing demand for less-than-truckload (LTL) trucking services. Additionally, the introduction of electric trucks and sustainable practices by key players underscores a shift towards greener logistics solutions.

The market's expansion is also supported by substantial investments in infrastructure improvements across the Nordic countries, with Denmark and Norway leading in public investment. Sweden's logistics market, the largest in Scandinavia, benefits from significant infrastructure investments and serves as a key logistics hub in Europe, with the Port of Gothenburg playing a pivotal role. The region's commitment to sustainability is evident in initiatives like Iceland's plan to phase out fossil fuels by 2050 and the adoption of electric vehicles by logistics companies. Despite challenges such as fluctuating fuel prices and geopolitical tensions impacting global fuel markets, the Nordics Road Freight Transport Market is expected to continue its upward trajectory, driven by technological advancements and strategic investments in infrastructure and sustainability.

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Nordics Road Freight Transport Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Agriculture, Fishing, and Forestry

      2. 1.1.2 Construction

      3. 1.1.3 Manufacturing

      4. 1.1.4 Oil and Gas, Mining and Quarrying

      5. 1.1.5 Wholesale and Retail Trade

      6. 1.1.6 Others

    2. 1.2 Destination

      1. 1.2.1 Domestic

      2. 1.2.2 International

    3. 1.3 Truckload Specification

      1. 1.3.1 Full-Truck-Load (FTL)

      2. 1.3.2 Less than-Truck-Load (LTL)

    4. 1.4 Containerization

      1. 1.4.1 Containerized

      2. 1.4.2 Non-Containerized

    5. 1.5 Distance

      1. 1.5.1 Long Haul

      2. 1.5.2 Short Haul

    6. 1.6 Goods Configuration

      1. 1.6.1 Fluid Goods

      2. 1.6.2 Solid Goods

    7. 1.7 Temperature Control

      1. 1.7.1 Non-Temperature Controlled

      2. 1.7.2 Temperature Controlled

    8. 1.8 Country

      1. 1.8.1 Denmark

      2. 1.8.2 Finland

      3. 1.8.3 Iceland

      4. 1.8.4 Norway

      5. 1.8.5 Sweden

Nordics Road Freight Transport Market Size FAQs

The Nordics Road Freight Transport Market size is expected to reach USD 29.99 billion in 2024 and grow at a CAGR of 3.65% to reach USD 37.19 billion by 2030.

In 2024, the Nordics Road Freight Transport Market size is expected to reach USD 29.99 billion.

Nordics Road Freight Transport Market Report Snapshots

Nordics Road Freight Transport Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030