According to TNR, The Niche Research, “Global Zero Emission Freight Transport Service Market: Insights, Trends & Forecast (2024–2034),” the market was valued at US$ 142.8 Bn in 2023 and is projected to grow at a CAGR of 13.4% through 2024
Wilmington, Delaware, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Road Segment to Hold Largest Market Share in 2023
According to TNR, The Niche Research report, road segment accounted for the higher market share in 2023 and is projected to maintain its dominance over the forecast period (2024-2034) in the zero emission freight transport service market. This dominance is driven by the widespread adoption of electric and hydrogen-powered trucks for various freight applications. Road transport offers flexibility and direct connectivity, making it a preferred choice for zero-emission solutions in both urban and regional logistics.
Manufacturers are actively innovating in this sector, with notable advancements in both heavy and light-to-medium trucks. Major players are focusing on enhancing battery technology, expanding charging infrastructure, and improving fuel cell efficiency to meet the growing demand for sustainable freight solutions. For instance, companies like Tesla and Nikola are leading in the heavy truck segment, offering electric and hydrogen fuel cell models designed for long-haul transport. Meanwhile, manufacturers such as Rivian and Workhorse are making significant strides in the light and medium truck categories, catering to urban deliveries and regional freight needs. This innovation is crucial for meeting environmental regulations and fulfilling the increasing demand for eco-friendly logistics solutions.
Heavy Trucks Sales Analysis By Manufacturers of Conventional vs Zero Emission Vehicles:
| Manufacturers | Conventional | Zero Emission Vehicles |
| Volvo Trucks | Low | High |
| Renault Trucks | Low | High |
| Mercedes-Benz | High | Low |
| Scania | High | Low |
| Hyundai | High | Low |
| DAF | High | Low |
| Others | Low | High |
Light & Medium Trucks Sales Analysis By Manufacturers of Conventional vs Zero Emission Vehicles:
| Manufacturers | Conventional | Zero Emission Vehicles |
| Ford | Low | High |
| Fiat | Low | High |
| Maxus | High | Low |
| Iveco | High | Low |
| Mercedes-Benz | High | Low |
| VDL | Low | High |
| JAC | Low | High |
| Others | Low | High |
Asia Pacific to Dominate the Market
The Asia Pacific region is poised to dominate the global zero emission freight transport service market due to its rapid industrialization, growing environmental regulations, and significant investments in sustainable transportation infrastructure. Major manufacturers in the region, such as BYD, NIO, and Toyota, are at the forefront of developing and deploying zero-emission freight solutions. These companies are leading in both electric and hydrogen-powered vehicles, catering to the increasing demand for eco-friendly logistics across diverse industries.
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Recent years have seen a surge in collaborations and partnerships among manufacturers in Asia Pacific, further fueling market growth. For instance, BYD has partnered with several logistics companies to deploy electric trucks and buses in urban areas, while Toyota and Hino Motors have launched joint initiatives to advance hydrogen fuel cell technology for freight applications. Also, in May 2024, Maersk launches air freight gateway in Miami to serve U.S., Asia, and Latin America market. Additionally, government support in countries like China, Japan, and South Korea is boosting the adoption of zero-emission vehicles through subsidies and infrastructure development. This collaborative environment, combined with substantial technological advancements, positions Asia Pacific as a key player in driving the global transition to sustainable freight transport solutions.
Competitor Insights:
The key companies profiled in the zero emission freight transport service market are mentioned below:
- C.H. Robinson Worldwide, Inc.
- CEVA Logistics
- DB Schenker
- DHL Express (Deutsche Post DHL Group)
- DSV Panalpina A/S
- FedEx Corporation
- GEODIS
- Hitachi Transport System, Ltd.
- Maersk Group
- UPS (United Parcel Service, Inc.)
- XPO Logistics, Inc.
- Yusen Logistics Co., Ltd.
- Other Industry Participants
The industry is characterised by low concentration of market players, especially by region. Manufacturers are increasingly partnering with NGOs to advance zero emission freight transport, aiming to enhance sustainability and reduce carbon footprints. These collaborations focus on developing and deploying innovative technologies such as electric and hydrogen-powered trucks, which are essential for reducing emissions in logistics.
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Manufacturers are driving innovation by creating new vehicle designs, improving battery efficiency, and expanding charging infrastructure. These joint efforts not only accelerate the adoption of zero-emission solutions but also align with global sustainability goals, demonstrating a commitment to both environmental stewardship and technological advancement in the freight transport sector.
- In August 2024, the GMA Trucking Buyers Alliance, in partnership with Smart Freight Centre, united efforts to drive demand for zero-emission trucking.
- In July 2024, WattEV, in partnership with MGA Entertainment, launched the "Brands That Care" initiative to champion zero-emission transportation.This collaboration appoints WattEV as the sole zero-emission freight provider for MGA’s products imported via the ports of Los Angeles & Long Beach.
Browse Related Category Reports
Global Zero Emission Freight Transport Service Market:
By Mode of Transport
- Road
- Rail
- Maritime
- Air
By Vehicle Type
- Light Duty Vehicles
- Medium Duty Vehicles
- Heavy Duty Vehicles
By Power Source
- Battery/Electric
- Hydrogen Fuel Cells
- Hybrid Systems
By Service Type
- Direct Freight Services
- Inter-city Freight
- Intra-city Freight
- Logistics Solutions
- Specialized Freight
- Temperature-Controlled Transport
- Hazardous Materials Transport
- Others
By End Use Industry
- Retail and E-commerce
- Manufacturing
- Pharmaceuticals
- Automotive
- Agriculture and Food Processing
- Chemicals
- Construction
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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