Forecast: Production in Freight Transport by Road Sector in Belgium

Between 2014 and 2023, the freight transport by road sector in Belgium experienced fluctuating production values, with a noticeable dip in 2020 corresponding to a -8.06% year-on-year decrease, likely due to the COVID-19 pandemic. Nonetheless, by 2023 production rebounded to 12.32 billion euros, marking a 0.9% increase from the previous year. The Compound Annual Growth Rate (CAGR) for 2019-2023 was 1.23%, indicating a moderate growth trajectory.

Looking forward from 2024 to 2028, consistent growth is anticipated, with production forecasted to reach 12.85 billion euros by 2028. The projected CAGR for this period stands at 0.67%, with an overall forecasted growth rate of 3.41% over these five years, reflecting a steady yet gradual upward trend.

Future Trends to Watch:

• Impact of environmental regulations on operational costs
• Adoption of green technologies and digital innovations
• Potential disruptions from economic fluctuations or geopolitical events