Japan Road Freight Transport Market - Size, Share, & Forecasts up to 2028

The Japan Road Freight Transport Market is projected to register a CAGR of 3.26%

Key Highlights

• Largest Segment by Distance - Short Haul : Short-haul trucking services dominated the distance segment in Japan's road freight transport market due to the booming e-commerce industry and the increasing contribution of MSMEs in the transportation sector.
• Largest Segment by Product Type - Solid Goods : In Japan, solid goods surpass liquid goods in the product type segment, as most commodities transported within the solid goods segment significantly contribute to the country's value-added output.
• Largest Segment by End User - Manufacturing : The manufacturing segment is the largest contributor to Japan's GDP with a percentage share of 20.50% as of 2021, making up most of the Japanese road freight transport market.
• Fastest Growing Segment by TruckLoad Specification - Less than Truckload : SMEs are one of the key end users of the less-than truckload segment, as over 90% of truck carriers are small and medium-sized enterprises, making the LTL segment the fastest-growing.

Key Market Trends

Manufacturing is the largest segment by End User.

• Japan's manufacturing industry is the driving force that has supported the country's economy to the extent that it has become the third-largest economy in terms of GDP. Japan is also known as one of the "manufacturing superpowers". The manufacturing industry accounted for about 20% of the total GDP in FY 2019-2020, led by automobile manufacturers and many other players.
• According to the Statistics Bureau, the total value of contracts received for construction grew by 3.9% YoY (YoY) in the first ten months of 2021. In terms of segmentation, the total value of contracts for buildings grew by 6%, while the total value of contracts for civil engineering work grew by 2.9% during the same period.
• In 2020, Japan was the fourth-largest single-country export market for US agricultural products, valued at nearly USD 11.8 billion. The United States is the largest supplier of food and agricultural products to Japan, accounting for a 24% share of all imports, followed by the European Union, China, Australia, and Thailand. Japan is the largest export market for US beef and pork, valued at USD 3.5 billion, and the second-largest market for US corn, valued at USD 2 billion.

Competitive Landscape

The Japan Road Freight Transport Market is fragmented, with the top five companies occupying 19.11%. The major players in this market are Hitachi Transport System, Konoike Group, Nippon Express, Sagawa Express and Yamato Transport (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support