Road - South Korea | Statista Market Forecast

Transportation intensity in South Korea is projected to amount to 0.09TKM/GDP in 2024..
Volume of goods transported in the Road market is projected to amount to 154.00bn TKM in 2024.

Definition

The Road Transportation market involves the movement of goods via road networks. Primarily focused on commercial cargo, this form of transportation plays a key role in supporting logistics and supply chain operations. This market involves transporting goods from manufacturers or distributors to wholesalers, retailers, or other businesses within the supply chain. It contributes significantly to the flow of goods within the broader business ecosystem. As businesses increasingly operate within expansive global supply chains, efficient and reliable transportation services to move goods across various points in these supply chains have become vital.

Additional Information

The Road Transportation market covers CO2 emissions, volume of goods transported, and transportation intensity. Key players in the Road Freight market include major logistics and transportation companies specializing in road-based freight services, as well as regional and local carriers. These companies play a significant role in shaping the market dynamics, driving efficiency, and fostering innovation within the road freight sector.

Non-road freight transportation
Passenger transportation

Road freight transportation, led by trucks, is the primary force in moving goods, thanks to their versatility and ability to reach diverse destinations, making them indispensable for the freight industry. Crucially, it forms the backbone of last-mile delivery, ensuring goods reach their final destinations, be it homes or businesses.

This market covers a varied fleet, from small delivery vans to large trucks, offering services ranging from express deliveries to full truckloads. However, road transportation poses environmental challenges, contributing to emissions and congestion. To address this, there's a push towards adopting greener technologies like electric and hydrogen-powered vehicles.

The surge in e-commerce has notably heightened the demand for road transportation services, with direct deliveries to consumers' homes becoming a central aspect. Operating both globally and locally, the road transportation market uses long-haul trucking for global logistics networks and local services for the crucial last-mile connectivity.

Adapting to changes in consumer behavior, technology, and the wider economic landscape, the road transportation market is dynamic. Embracing new technologies and sustainable practices is key for its ongoing success.

Data coverage:

The data encompasses B2B enterprises. Figures are based on the activities of the Road freight market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting transportation activity due to the non-linear growth of this market

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

In 2022, worldwide commercial vehicle production grew to around 23.7 million units, continuing the slow recovery from the three million unit drop recorded in 2020. Commercial vehicles are comprised of all motor vehicles intended for the commercial transport of goods and passengers, with light commercial vehicles often referring to vehicles under 3.5 tons. With around 13.3 million vehicles produced, North America was the leading region in the production of commercial vehicles in 2022. Estimates place Asia and Oceania as the top manufacturer of heavy trucks in that year, with around 2.3 million units produced.