Ti Insight, a UK market research publication, predicts a fragile recovery in a challenging European road freight environment, reports UK's Transport Intelligence.
'Looking ahead, the market dynamics will be influenced by the macro development, but overall we expect the road freight market to be flat in 2023. With volumes dropping and available capacity increasing, the downward trend in rates looks set to continue in 2023.'
The market moderation observed in the latter half of 2022 has spilled over into 2023, resulting in a deceleration of growth, according to Transport Intelligence's European Road Freight Transport 2023 Report.
The projected expansion for 2023 stands at a modest 1.4 per cent in real terms.
Factors such as declining real income, tight financial conditions, and subdued external demand will exert pressure on Europe's economic activity and prospects, impacting both domestic and international road freight segments, expected to experience a slowdown.
The report is authored by industry researchers and analysts, leveraging data from Ti's GSCi knowledge portal, a repository of over one million data points and analyses.
SeaNews Turkey
'Looking ahead, the market dynamics will be influenced by the macro development, but overall we expect the road freight market to be flat in 2023. With volumes dropping and available capacity increasing, the downward trend in rates looks set to continue in 2023.'
The market moderation observed in the latter half of 2022 has spilled over into 2023, resulting in a deceleration of growth, according to Transport Intelligence's European Road Freight Transport 2023 Report.
The projected expansion for 2023 stands at a modest 1.4 per cent in real terms.
Factors such as declining real income, tight financial conditions, and subdued external demand will exert pressure on Europe's economic activity and prospects, impacting both domestic and international road freight segments, expected to experience a slowdown.
The report is authored by industry researchers and analysts, leveraging data from Ti's GSCi knowledge portal, a repository of over one million data points and analyses.
SeaNews Turkey