A Bumpy Road for Europe’s Freight Shippers

After a challenging 2023, the European road freight industry is seeing some improvements with a better balance between demand and truck supply. However, shippers should remain vigilant as strikes, geopolitical issues, and other factors continue to create a volatile market. The silver lining? Those who navigate these challenges effectively can enhance their supply-chain performance and boost their bottom line. 

Key findings: 

Increasing demand: 

Economic improvements and regional disruptions are driving up road freight demand 

Capacity dynamics: 

While spot capacity decreased early in 2024, it is expected to recover soon 

Market balance: 

Supply and demand are becoming more balanced, which may lead to rising spot rates 

Contracted volume: 

Shippers are locking in favorable rates through increased contracted shipping 

Refrigerated trucks: 

Demand is up due to growth in pharmaceuticals and online groceries