Road - South Korea

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.