DUBLIN--(BUSINESS WIRE)--The "Mexico Road Freight Transport Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Mexican road freight market was valued at USD 81.99 billion in 2021, and it is expected to be worth USD 131.61 billion by 2027, registering a CAGR of 9.91% during the forecast period.
Companies Mentioned
- Alianza Trayecto
- Grupo Traxion
- Autotransportes de Carga Tresguerras
- Transportes Castores de Baja California
- Transportes Marva
- Fletes Mexico
- Grupo TUM
- Transportes Monroy Schiavon (TMS)
- Grupo Nor y Caribe
- Transportes de Carga FEMA SA de CV
- Transportes Orta SA de CV
- Landstar System Inc.
- Ryder System Inc.
- DB Schenker
- C. H. Robinson
Key Market Trends
Rapid Growth of E-Commerce in the country
E-commerce is providing a major impetus for growth in the road freight market in Mexico, which is the second largest e-commerce market in Latin America, following Brazil
E-commerce relies heavily on the trucking industry in the form of long-haul transport, then regional and urban transfers, and then finally "the last mile," which is usually completed with vans and app-based delivery services. The dramatic expansion of e-commerce, and with it, distribution and last-mile logistics
The rapid penetration of the internet, fueled by the COVID-19 pandemic and an expansion in the region's middle class has significantly contributed to the growth of the e-commerce industry
According to industry sources, the e-commerce market in Mexico USD 40.3 billion in 2021 and is expected to reach USD 74.1 billion by 2025. As of 2021, There were nearly 57.5 million Mexican eCommerce users, a 9% increase over 2019. This number is expected to grow to 77.9 million users by 2025
In 2020, food delivery led online purchases, followed by fashion and beauty items. Online pharmacy and supermarket purchases increased by 41 and 40%, respectively
Rise in Trade
Owing to the rise in globalization over the last several years, various activities related to trade have been witnessed to increase. Growing globalization has led to an increase in manufacturing and trade activities in the country
Growing trade activities require efficient transportation solutions for goods transportation, which boosts the growth of the road freight transportation market in Mexico
In 2020, the EU was Mexico's 3rd trading partner, after the United States (USD 506.9 billion) and China (USD 81.5 billion), accounting for 7.8% of the country's total trade. Mexico, in turn, is the EU's 11th trading partner, accounting for 1.5% of its foreign trade
Two-way trade in goods and services between the United States and Mexico totaled USD 582.4 billion in 2020, positioning Mexico as the third-largest overall U.S. trading partner. During this period U.S. exports to Mexico totaled USD 235 billion and imports totaled USD 347.4 billion
Mexico has 13 Free Trade Agreements (FTAs) with 50 countries-including USMCA and FTAs with the European Union, European Free Trade Area, Japan, Israel, 10 countries in Latin America, and the 11-country Comprehensive and Progressive Agreement for Trans-Pacific Partnership
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 OVERVIEW OF MEXICO FREIGHT AND LOGISTICS MARKET
4.1 Freight Transport
4.2 Freight Forwarding
4.3 Warehousing
4.4 Value-added Services
5 MEXICO ROAD FREIGHT TRANSPORT MARKET - MARKET INSIGHTS
5.1 Market Overview
5.2 Demand and Supply Analysis
5.3 Spotlight on Freight Rates
5.4 Insights on Operating Costs
5.5 Insights on Fuel Costs
5.6 Insights on In-use Tractor Trailers
5.7 Impact of COVID-19 on the Market
6 MEXICO ROAD FREIGHT TRANSPORT MARKET - MARKET DYNAMICS
6.1 Drivers
6.2 Restraints
6.3 Opportunities
7 MARKET SEGMENTATION
7.1 By Destination
7.1.1 Domestic
7.1.2 International
7.2 By End User
7.2.1 Manufacturing and Automotive
7.2.2 Oil and Gas, Mining, and Quarrying
7.2.3 Agriculture, Fishing, and Forestry
7.2.4 Construction
7.2.5 Distributive Trade
7.2.6 Other End Users (Telecommunication and Pharmaceuticals)
8 COMPETITIVE LANDSCAPE
8.1 Overview (Market Concentration and Major Players)
8.2 Company Profiles
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/ycn3a8
