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Freight Trucking in China Industry Data and Analysis
The Freight Trucking industry is expected to decrease at a CAGR of 0.4% over the five years through 2024, to total $128.8 billion. This trend includes an anticipated increase of 2.7% from 2023. Over 64,000 freight trucking companies operate in the industry, employing approximately 1.3 million people. The industry provides independent and complementary transportation services to other types of transport modes like rail, water and air transportation. From the perspective of the scale of freight transport in various ways, the share of road freight transport is decreasing, but it still dominates the freight transport industry in China. In 2023, road transportation represented 73.7% of the freight transportation volume and 30.7% of the freight turnover volume in China. Profitability for the Freight Trucking industry is relatively low at an estimated 7.2% of industry revenue in 2024.As of 2023, China's total road length reached 5.4 million kilometers. China's highway length has increased to 183,600 kilometers by 2023, ranking first in the world. The industry has therefore benefited from the development of a highway infrastructure in China to support economic activity throughout the country and compensate for the overloaded rail system.The investment in road fixed assets kept increasing in recent years. In 2023, the investment in road fixed assets totaled $398.8 billion, up from $314.5 billion in 2017. Among the investment, the highway fixed assets investment increased to $225.3 billion in 2023, accounting for 56.5% of the total investment.Promoted by the sales promotion activities by the ecommerce enterprises like Double 11 (the 11th of November), Double 12 (the 12th of December) and New Year's Day, the fourth quarter is usually the peak of social trade and transportation in the year. Road freight in the fourth quarter presents more obvious seasonal characteristics.China's rail system is overloaded and its transportation growth potential is limited unless the railway network expands considerably. This factor, combined with the rapid pace of highway construction, offers opportunities for road transportation to develop further. Industry revenue is forecast to increase at a CAGR of 2.1% over the five years through 2029, to total $142.7 billion.
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What's included in this industry analysis
IBISWorld's research coverage on the Freight Trucking industry in China includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released November 2024.
About this industry
What's this industry report about?
The Freight Trucking industry in China operates under the industry code 5220. The industry provides road freight and cargo transportation services using trucks, cars, trailers and other road vehicles. Related terms covered in the Freight Trucking industry in China include freight traffic, freight ton-kilometers (ton-km) and highway length.
What's included in this industry?
Products and services covered in Freight Trucking industry in China include Medium-to-long distance freight transportation, Short-distance freight transportation and Long-distance freight transportation.
What companies are included in this industry?
Companies covered in the Freight Trucking industry in China include S.F. Holding Co., Ltd., CMST Development Co., Ltd. and Deppon Logistics Co., Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Freight Trucking industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Freight Trucking industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Freight Trucking industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Freight Trucking industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Freight Trucking industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Freight Trucking industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Freight Trucking industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Freight Trucking industry in China.
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Frequently Asked Questions
What is the market size of the Freight Trucking industry in China in 2026?
The market size of the Freight Trucking industry in China is $128.8bn in 2026.
How many businesses are there in the Freight Trucking industry in China in 2024?
There are 64,642 businesses in the Freight Trucking industry in China, which has declined at a CAGR of 0.7 % between 2019 and 2024.
How may import tariffs affect the Freight Trucking industry in China?
The Freight Trucking industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Freight Trucking industry in China?
The Freight Trucking industry in China is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Freight Trucking industry in China grown or declined over the past 5 years?
The market size of the Freight Trucking industry in China has been declining at a CAGR of 0.4 % between 2019 and 2024.
What is the forecast growth of the Freight Trucking industry in China over the next 5 years?
Over the next five years, the Freight Trucking industry in China is expected to grow.
What are the biggest companies in the Freight Trucking industry in China?
The biggest companies operating in the Freight Trucking industry in China are S.F. Holding Co., Ltd., CMST Development Co., Ltd. and Deppon Logistics Co., Ltd.
What does the Freight Trucking industry in China include?
Common freight and special freight transport services by road and Container transportation and special vehicle transport services by road are part of the Freight Trucking industry in China.
Which companies have the highest market share in the Freight Trucking industry in China?
The company holding the most market share in the Freight Trucking industry in China is S.F. Holding Co., Ltd..
How competitive is the Freight Trucking industry in China?
The level of competition is high and steady in the Freight Trucking industry in China.
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