According to the latest Transport Intelligence (TI) report, the growth in the value of the road transportation market in Europe will be minimal this year.
According to TI experts, the road freight market of the Old Continent is forecast to expand by only 1.4% in 2023.
It should be noted that in the middle of 2022, TI projected a growth rate of 4.9% for 2022. However, a weaker second half of the year diluted this result.
The high inflation rate, high energy costs, and lower real incomes have reduced consumption and production across Europe. This, in turn, has reduced demand for transportation services in both domestic markets and international traffic.
TI’s forecasts show an average annual growth rate of 2.1% between 2022 and 2027. This is higher than the expected growth in 2023, but lower than the result in 2022.