Forecast: Road Transport Value Added in Australia

The road transport value added in Australia has shown a fluctuating trend over the years. After slight annual growth and dips from 2013 through 2018, the sector saw significant increases from 2019 onwards. Particularly, large jumps of over 11% year-on-year occurred in 2021 and 2022. By 2023, the value stood at 32.18 billion AUD, reflecting a slower 2.04% increase. Notably, the compound annual growth rate (CAGR) over the last five years up to 2023 was 5.81%.

Looking ahead to the forecast period, the CAGR is expected to stabilize to around 1.5%, with an overall growth rate of 7.72% by 2028. The projected 5.81% CAGR over the previous five years implies a robust but gradually moderating growth pattern.

Future trends to watch for include:

• Increased investment in sustainable transport solutions due to environmental regulations
• The potential impact of emerging technologies like electric and autonomous vehicles
• Macroeconomic factors such as fuel prices and global supply chain conditions