Market Size of north america cross border road freight transport Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 235.97 Billion |
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Market Size (2030) | USD 308.09 Billion |
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Largest Share by End User Industry | Manufacturing |
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CAGR (2024 - 2030) | 4.55 % |
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Largest Share by Country | United States |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Cross Border Road Freight Transport Market Analysis
The North America Cross Border Road Freight Transport Market size is estimated at 235.97 billion USD in 2024, and is expected to reach 308.09 billion USD by 2030, growing at a CAGR of 4.55% during the forecast period (2024-2030).
235.97 Billion
Market Size in 2024 (USD)
308.09 Billion
Market Size in 2030 (USD)
3.58 %
CAGR (2017-2023)
4.55 %
CAGR (2024-2030)
Fastest Growing Market by End User Industry
5.37 %
Projected CAGR, Wholesale and Retail Trade, 2024-2030
The e-commerce market in the region is expected to record a CAGR of 11.25% during 2023-2027, driving the wholesale and retail trade end-user industry.
Largest Market by End User Industry
33.23 %
value share, Manufacturing, 2023
The land borders of the United States with Canada and Mexico serve as the crucial pathways for supply chains across North America, facilitating USD 3 billion in cross-border trade daily.
Largest Market by Country
85.82 %
value share, United States, 2023
The United States registered a YoY growth of around 17.59% in exports and 15.01% in imports in 2022, which supported the growth of the market.
Fastest Growing Market by Country
6.24 %
Projected CAGR, Mexico, 2024-2030
Mexico's total trade with the US increased 12% YoY to USD 64 billion in 2022, driving the growth of the market.
First Leading Market Player
0.64 %
market share, Ryder System, Inc., Inc.
Ryder Systems manages approximately 9,000 border crossings between Canada and the United States and Mexico and approximately 20,600 border crossings between the United States and Mexico each month.
The trade between the US and its neighbors, Canada and Mexico, constituted USD 1.6 trillion, or 24% of the total trade in 2022
- The land borders of the United States with Canada and Mexico serve as the primary and economically crucial pathways for supply chains across North America, facilitating approximately USD 3 billion in cross-border trade on a daily basis. In 2022, the total value of US international trade reached USD 6.5 trillion. Notably, trade between the United States and its neighbors, Canada and Mexico, constituted USD 1.6 trillion, or 24% of this total. North America's manufacturing industry faced increasing supply chain disruptions, rising costs, and a shrinking labor force. Similarly, the construction industry faced labor shortages and rising raw material prices, leading to the decline of the construction segment by 43.97% in 2021.
- In 2021, North America's cross-border road freight transport saw substantial growth. The US witnessed a 39% increase in agricultural exports to Mexico, reaching USD 25.5 billion, while Canada experienced a 12% rise, reaching USD 25 billion. This sector notably surged from an 8% to a 17.2% increase from 2020 to 2021, signifying a significant upturn in cross-border transportation of agriculture and forestry goods between these nations.
- The North American e-commerce industry is anticipated to grow at a substantial YoY growth of 11.25% during the period 2023-2027. Among the countries, the United States is expected to contribute the highest to the growth of the e-commerce retail market. Despite accounting for merely 5% of the global population, North America wields considerable influence over the global economy. Among the various markets experiencing notable expansion in North America, the retail e-commerce industry stands out. Moreover, the US manufacturing market is expected to amount to USD 14.1 billion by 2030.
Understand The Key Trends Shaping This Market
The United States dominated the cross border road freight market in North America
- In August 2022, the total transborder freight between the United States, Canada, and Mexico recorded a YoY increase of 13.9%. Road freight was a crucial mode of transportation in North America, wherein truck freight witnessed a YoY increase of 19% in August 2022. The busiest border crossing between Canada and the United States was at Windsor, Ontario, accounting for USD 131 billion in trade. In October 2022, the US Department of Transportation invested around USD 31 million to expand cargo infrastructure and strengthen the supply chain. The Government of Mexico initiated a USD 44 billion plan for 2020-2024, focusing on transportation infrastructure under the framework of the National Private Sector Infrastructure Investment Agreement.
- The top US imports included computer-related parts and machinery, at USD 44.2 billion, followed by vehicles, other than railway (USD 44.2 billion), whereas the top Canadian exports included mineral fuels, oils, and waxes, valued at a combined USD 103.2 billion in 2021. Trucks moved USD 30.8 billion in freight across the Canada-US border in the last month of 2021, accounting for 50.9% of the overall freight value crossing the northern border.
- During the forecast period, the North American cross border road freight transport market is expected to grow tremendously. One of the reasons for this growth is the Canadian government’s announcement of the funding for 29 new Road Safety Transfer Payment Programs in 2021, where the government would provide USD 12.5 million as funding. Transport Canada offers a maximum contribution of up to 75% of the total project-eligible costs. The projects would, in turn, facilitate trade influx in Canada in line with the Canada-United States-Mexico Agreement (CUSMA).
North America Cross Border 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. Canada, Mexico, United States are covered as segments by Country.
- The land borders of the United States with Canada and Mexico serve as the primary and economically crucial pathways for supply chains across North America, facilitating approximately USD 3 billion in cross-border trade on a daily basis. In 2022, the total value of US international trade reached USD 6.5 trillion. Notably, trade between the United States and its neighbors, Canada and Mexico, constituted USD 1.6 trillion, or 24% of this total. North America's manufacturing industry faced increasing supply chain disruptions, rising costs, and a shrinking labor force. Similarly, the construction industry faced labor shortages and rising raw material prices, leading to the decline of the construction segment by 43.97% in 2021.
- In 2021, North America's cross-border road freight transport saw substantial growth. The US witnessed a 39% increase in agricultural exports to Mexico, reaching USD 25.5 billion, while Canada experienced a 12% rise, reaching USD 25 billion. This sector notably surged from an 8% to a 17.2% increase from 2020 to 2021, signifying a significant upturn in cross-border transportation of agriculture and forestry goods between these nations.
- The North American e-commerce industry is anticipated to grow at a substantial YoY growth of 11.25% during the period 2023-2027. Among the countries, the United States is expected to contribute the highest to the growth of the e-commerce retail market. Despite accounting for merely 5% of the global population, North America wields considerable influence over the global economy. Among the various markets experiencing notable expansion in North America, the retail e-commerce industry stands out. Moreover, the US manufacturing market is expected to amount to USD 14.1 billion by 2030.
| End User Industry | |
| Agriculture, Fishing, and Forestry | |
| Construction | |
| Manufacturing | |
| Oil and Gas, Mining and Quarrying | |
| Wholesale and Retail Trade | |
| Others |
| Country | |
| Canada | |
| Mexico | |
| United States | |
| Rest of North America |
Need A Different Region Or Segment?
North America Cross Border Road Freight Transport Market Size Summary
The North America Cross Border Road Freight Transport Market is poised for significant growth, driven by the critical role of land borders between the United States, Canada, and Mexico in facilitating supply chains across the region. These borders are essential for the daily movement of substantial trade volumes, underscoring their economic importance. The market is influenced by various factors, including the expansion of the e-commerce sector, which is expected to see robust growth, particularly in the United States. The manufacturing and transportation sectors are also key contributors, with investments in infrastructure and technology aimed at enhancing efficiency and capacity. The market landscape is characterized by a fragmented structure, with major players like Fastfrate Group, Knight-Swift Transportation Holdings Inc., Landstar System Inc., Ryder System, Inc., and United Parcel Service of America, Inc. (UPS) playing pivotal roles in shaping industry dynamics.
The market's trajectory is further supported by government initiatives and investments aimed at improving transportation infrastructure and addressing supply chain challenges. These efforts are crucial in maintaining the flow of goods across borders and supporting the region's economic growth. The market is also impacted by fluctuations in fuel prices, which affect operational costs for freight companies. Despite these challenges, the market is expected to expand, driven by strategic investments and the increasing demand for efficient cross-border transportation solutions. The ongoing developments in the sector, including the adoption of electric vehicles and advancements in logistics capabilities, are set to enhance the market's growth prospects in the coming years.
North America Cross Border Road Freight Transport Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)
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1.1 End User Industry
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1.1.1 Agriculture, Fishing, and Forestry
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1.1.2 Construction
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1.1.3 Manufacturing
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1.1.4 Oil and Gas, Mining and Quarrying
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1.1.5 Wholesale and Retail Trade
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1.1.6 Others
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1.2 Country
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1.2.1 Canada
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1.2.2 Mexico
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1.2.3 United States
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1.2.4 Rest of North America
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North America Cross Border Road Freight Transport Market Size FAQs
How big is the North America Cross Border Road Freight Transport Market?
The North America Cross Border Road Freight Transport Market size is expected to reach USD 235.97 billion in 2024 and grow at a CAGR of 4.55% to reach USD 308.09 billion by 2030.
What is the current North America Cross Border Road Freight Transport Market size?
In 2024, the North America Cross Border Road Freight Transport Market size is expected to reach USD 235.97 billion.
