Market Trends of germany road freight transport Industry
This section covers the major market trends shaping the Germany Road Freight Transport Market according to our research experts:
Manufacturing is the largest segment by End User.
- The manufacturing end-user segment of the road freight transport market declined by 2.47% YoY in 2020 due to a decrease in demand for goods and the restrictions on transportation imposed by the German government to curb the spread of COVID-19. In 2020, the manufacturing segment held the maximum share of the road freight transport market in Germany, at around 40.18%, and reached 157.2 billion ton-km in volume, followed by the wholesale and retail trade segment with a share of 26.12% and a volume of 102.2 billion ton-km.
- The manufacturing segment was the largest contributor to the German economy in 2021. The segment contributed around 20% to the economy, the highest among all other sectors. However, the pandemic significantly impacted the transport and storage segment, as the YoY GDP contribution declined by 5.71% in 2020 due to government restrictions. However, the segment recovered slowly in 2021, registering a 14.27% YoY growth in GDP contribution. The land transport and transport via pipelines segment contributed 40% to the total transport and storage segment.
- During the forecast period (2022-2028), the construction segment is expected to record the highest CAGR of 4.85%, followed by agriculture, fishing, and forestry, with a CAGR of 5.87%. The road freight transport market is anticipated to be driven by growing bilateral trade, booming industrialization, and revised trade policies. The length of roads has increased over the years to facilitate the timely delivery of these end-user products. The government invested USD 14.82 billion in road construction in 2020, which may further augment the growth of the road freight transport market in the future.
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