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North America Road Freight Transport Market Size

The North America Road Freight Transport Market is projected to experience growth over the forecast period, driven by various sectors such as agriculture, construction, and wholesale and retail trade, particularly influenced by the e-commerce boom. The United States holds a dominant position in the market, with significant cross-border freight activities involving Mexico and Canada. Infrastructure improvements and investments in electric vehicles are expected to enhance freight mobility and efficiency. Despite challenges like driver shortages, the market's expansion is supported by strategic initiatives and infrastructure projects aimed at boosting transportation capabilities.

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Market Size of north america road freight transport Industry

North America Road Freight Transport Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 633.60 Billion
svg icon Market Size (2030) USD 797.29 Billion
svg icon Largest Share by End User Industry Manufacturing
svg icon CAGR (2024 - 2030) 3.90 %
svg icon Largest Share by Country United States

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

Key Players

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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).

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

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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

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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

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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

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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

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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

  • 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.
North America Road Freight Transport Market

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

  • The United States dominated the North American road freight transport market in 2022-2023. Mexico was the largest trade partner to the United States in 2022. Substantially, major road freight operations in North America take place in the United States, Mexico, and Canada. The total trans-border freight amounted to USD 125.8 billion in January 2023, registering a growth of 10% YoY. Trucks moved nearly 62% of the total freight (in value). Detroit, Port Huron, and Buffalo are the top truck ports for the freight flows between the United States and Canada, while Laredo, El Paso, and Otay Mesa are the top truck ports within Mexico.
  • Trucking employed 8.4 million people in industry-related jobs, with an increase of over 400,000 YoY, including 3.54 million professional truck drivers in the United States. However, there was a shortage of more than 80,000 drivers in the United States during 2022-2023, which is expected to increase to 160,000 truck drivers by 2030. Mexico and Canada also experienced shortages of drivers.
  • There are road infrastructure projects that may be completed in the coming years, which would further improve the trucking industry. These projects include the Gordie Howe International Bridge in Canada, which is expected to improve the transportation between the United States and Canada. In the United States, Pyramid Highway Improvement was proposed, which is forecast to be complete by 2025. The Interstate 680 Express Lane and Pavement Rehabilitation may improve the freight mobility of I-680, preserve the transportation system’s condition, and improve system performance. There is also a substantial investment in electric vehicles by major companies. All these factors are set to drive the road freight in coming years.

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.
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
Canada
Mexico
United States
Rest of North America
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North America Road Freight Transport Market Size Summary

The North America Road Freight Transport Market is poised for steady growth, driven by various sectors such as agriculture, construction, and e-commerce. The agriculture segment saw significant expansion due to increased exports from the United States and improved production conditions in Canada. The construction sector experienced a boost in residential activities, although non-residential construction faced challenges due to the lingering effects of the COVID-19 pandemic. The wholesale and retail trade segment is expected to thrive, largely propelled by the burgeoning e-commerce industry in North America. The United States remains a dominant force in the market, with substantial trans-border freight activities involving Canada and Mexico. However, the industry faces challenges, including a notable shortage of truck drivers, which is anticipated to grow in the coming years.

Infrastructure developments and investments in electric vehicles are set to enhance the trucking industry further. Key projects like the Gordie Howe International Bridge and various highway improvements in the United States are expected to boost freight mobility. The transportation and storage sector has shown robust growth, with significant contributions to the GDP, particularly from the United States. Despite rising fuel prices impacting operational costs, the market remains fragmented, with major players like C.H. Robinson, FedEx, and J.B. Hunt Transport Inc. leading the charge. Innovations in technology and strategic acquisitions, such as Ryder System's acquisition of IFS Holdings, are aimed at expanding supply chain services and improving efficiency in freight shipping.

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North America 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 Canada

      2. 1.8.2 Mexico

      3. 1.8.3 United States

      4. 1.8.4 Rest of North America

North America Road Freight Transport Market Size FAQs

The North America Road Freight Transport Market size is expected to reach USD 633.60 billion in 2024 and grow at a CAGR of 3.90% to reach USD 797.29 billion by 2030.

In 2024, the North America Road Freight Transport Market size is expected to reach USD 633.60 billion.

North America Road Freight Transport Market Report Snapshots

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