The volume of road freight transport in China stood at 7.1041 trillion tonne-kilometers in 2023. From 2022 to 2023, there was a modest 2.54% year-on-year increase, while the compound annual growth rate (CAGR) over the past five years showed a slight decline of 0.059%. This indicates a recovery and upward trend after the sharp declines observed in 2019 and 2020.
Values from 2024 onwards are forecasted, with expectations of a steady CAGR of 1.91% over the next five years, projecting the volume to reach 8.0328 trillion tonne-kilometers by 2028. This suggests a cumulative growth rate of 9.93% over this forecast period.
Key future trends to watch for include:
- The impact of technological advancements in logistics and transportation.
- China's economic policies and their influence on trade activities.
- Shifts in global supply chains and their implications for domestic road freight volumes.
- Environmental regulations and the adoption of greener transport solutions.