India Road Freight Market Outlook to 2024: Ken Research


The report titled India Road Freight Market Outlook to 2024 – Driven by BS VI Norms, revision in Existing Axle Norms by the Government and Technological Advancementsprovides a comprehensive analysis on the status of logistics sector in India. The report covers various aspects including the current logistics scenario in India, its components viz, freight transportation, warehousing, CEP and VAS. The report specially focuses on Road freight market highlighting its issues and challenges, major growth drivers, investment in infrastructure, tech disruptions and innovations, and competition benchmarking. The report concludes with market projections for future of the Road freight market including forecasted industry size by Revenue.

India Logistics Market Overview and Size

India Logistics Sector has witnessed a robust CAGR with highest share to freight forwarding Market followed by Warehousing, Courier parcel and Express market and VAS Market. Road freight is the dominant mode with transportation to Domestic Flow corridors and international Neighboring Countries also. Many real estate developers such as Indospace, Logos India, ESR and many more are making constant investments in warehousing market in Gurgaon, Chennai and Mumbai. E commerce sector is becoming extremely popular with introduction of online payments such as Amazon Pay, Paytm, Gpay and new popular delivery apps.

India Road Freight Market Overview and Size

Small fleet owners dominated industry (70% of all fleet) operating at a margin of 8-12% and average transaction days of 12-15 per month.  SFOs primarily operating on Spot bookings while MFOs and LFOs working on LHAs. India Road Freight Market has witnessed an average CAGR during 2014-19 due to revision in BF VI Norms, Scrappage Policy, GST and new axle norms from the Government with rise in Average highway construction of Roads. The developments of  Bhratamala Pariyojana and the Sagarmala projects and the Eastern and Western Dedicated Freight Corridors, Developments of ports along with  Public Private partnership Projects has stimulated the growth in the market. On the front of assessing seasonality fluctuations in demand, Freight rates usually high during festive season in September-December with WAFC being ₹ 2.58/tonnes/km in 2019.

India Road Freight Market Segmentation

Road Freight Market Segmentation by LTL and FTL

The Road freight market is dominated by FTL by revenues and by Volume. The average freight cost charged for LTL is higher than FTL due to additional risk in carrying multiple loads, higher insurance cost and more.


Road Freight Market Segmentation by type of trucks

There are 12 million+ trucks in India, with net additions of over 6 lakh trucks in the market annually and there exist 40+ variants of trucks in the market.The Country is dominated by Light Goods Carrier Vehicles in comparison to High Goods Carrier Vehicles. The ratio of LCGV to HGCV is around 6:5. The LCGVs are expected to remain the dominant category in India Trucking Market.

Competitive Landscape of Major Players Operating in the India Road Frieght Market

The trucking Industry in India are extremely fragmented in nature. The trucking Industry is dominated by local domestic players who have large number of fleets and providing competitive prices. Big Companies such as Mahindra and All Cargo are moving towards Asset Light Model, subcontracting with local transport vendors and provide  Value added services such as Kitting, Assembling, packing and other which are very important in road freight market. Online platforms such as Blackbuck, TruckOla, rivigo and many more are disrupting the logistics space. The major players in the India Road freight market include GATI, VRL logistics, TCI, Om Express, DGFC, Varuna, Express logistics and many more.

India Road Freight Market Future Outlook & Projections:

The Trucking Industry in India will be impacted by COVID in the country and is expected to revive back in 2021 with faster growth rate. The truckers who have bought trucks with 50-100% institutional finance will see a tough time and need to maintain 90% capacity utilisation for upcoming EMIs, Insurance premiums & Permit with same freight cost in spite of high diesel cost.  This is due to disturbed production- consumption cycle with only 30% of trucks operating with cut throat competition for loads. Increasing Demand of e commerce products, growing Reefer trucks, technical innovations such as E vehicles, Fleet Management Software and more are disrupting the competition space.

Key Segments Covered:-

Freight Forwarding Market

By  Mode of Transportation

Road Freight (Fleets, Volume, FTK, Price/ton/km and Revenue)

Sea Freight (Volume, Price/ton/km, Revenue and Inland Coastal Shipping Price/ton/km)

Air Freight (Volume, Price/ton/km and Revenue)

By Road transportation

Less than Truck load (Revenue)

Full truck load (Revenue)

By Type of Fleets (Number of Fleets)

Less Goods Carrier Vehicles

High Goods Carrier Vehicles

Companies Covered:-


VRL Logistics


OM Logistics



Express Logistics

Aggarwal Packers and Movers

NTC Logistics


Associated Road Carriers

KerryIndev Logistics

Coastal Roadways

Stellar Value Chain

Sical Logistics



Anand Roadlines

Southern Cargo

Andhra Bangalore Roadways


CTC Freight Carriers

Mahindra Logistics

ALL Cargo


Key Target Audience:-

Freight Forwarding Companies

E Commerce Logistics Companies

3PL Companies

Consultancy Companies

Logistics/Warehousing Companies

Time Period Captured in the Report:-

Historical Period – FY14-FY19

Forecast Period – FY20-FY24

Key Topics Covered in the Report:-

India Logistics and Warehousing Market Introduction

Logistics Infrastructure

Cross Comparison of Logistics Performance in Different Countries (Germany, US, India, Australia, China, Vietnam, Philippines)

India Logistics and Warehousing Market Size

India Logistics and Warehousing Market Segmentation

India Logistics and Warehousing Market Future Outlook

India Logistics And Warehousing Market Future Segmentation

India Freight Market Size

India Freight Market Segmentation

India Freight Market Future Outlook

India Freight Market Future Segmentation

India Trucking Market Size

India Trucking Ecosystem

India Trucking Market Segmentation

India Trucking Market Future Outlook

India Trucking Market Future Segmentation

Innovations in Transportation Market

Investment Model on Road freight transportation

Regulatory Environment

Issues and Challenges

For More Information on the research report, refer to below link:-

India Road Freight Market

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Indonesia Logistics and Warehousing Market Outlook to 2023 – Driven by Infrastructure Spending for Airport and Seaports Albeit by Poor Existing Road Network

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Ken Research
Ankur Gupta, Head Marketing & Communications