The road freight transport industry in New Zealand has experienced various fluctuations over the past decade. In 2023, the volume stood at 29.13 billion tonne-kilometers. The year-on-year growth in 2022 was 1.82%, and in 2023, it slightly decreased to 1.76%. Over the last five years (2019-2023), the compound annual growth rate (CAGR) averaged 1.56%, indicating steady, albeit modest, growth.
Looking forward to the forecasted period from 2024 to 2028, the industry is expected to grow at an average CAGR of 1.24%, with an overall growth rate of 6.34%. By 2028, the volume is anticipated to reach 31.5 billion tonne-kilometers.
Future trends to watch for include:
- Technological advancements in logistics and transportation efficiency.
- Impact of regulatory changes and environmental policies.
- Market dynamics influenced by global trade patterns and economic stability.
