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Road Freight Market in Italy Preparing to Bounce Back After Bad 2020, Says Beroe Inc.
Beroe, which is based in North Carolina , further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE.Ai: https://www.beroeinc.com/beroe-live-ai/
Fuel prices in Italy dropped drastically in Q2 2020 and are assumed to grow slightly in 2021. Fuel and driver wages are the highest price point contributors to the road freight industry. A hamper in the prices of fuel and a shortage of drivers increasing driver wage costs will highly impact the overall operational cost.
The road freight market share in Italy is higher by 11 percent compared to other regions in Europe . In contrast, the rail freight market is 5 percent lower than other areas of Europe , but this is improving due to the liberalization of the rail market.
The market continues to face challenges like truck hijacking, which increased by 174 percent in 2019, and a shortage of at least 15,000 drivers. New truck registrations fell by 23.5 percent in 2020, but enough trucks can still manage the demand. While the pandemic has left the in a financial crunch, Italy has exempted truck drivers from travel restrictions.
One major challenge with has been there for a long time and is still a challenge is 'truck hijacking.' However, truck hijacking is specific to various areas, not only in Italy but across Europe . Therefore, this challenge affects the whole There are particular areas of Italy where is higher in capacity than other areas.
is highly dominant in Northern Italy , mainly in Lombardy , Veneto , and Emilia Romagna . These areas contribute to about 50 percent of the in Italy .
Despite truck hijacking, an increase in driver wages cost, and a decline in a truck vehicle purchase, another challenge affecting
Italy's is high toll rates that again increase operational costs. The Ministry of Transportation has taken various steps to reduce the roads' costs, but the toll rates remain high.
Overall, people in the business of will be experiencing benefits from the declining fuel prices and an increase in e-commerce sales that have increased demand for road transportation. These benefits, along with the mentioned challenges, are expected to shape the future of Italy's market.
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits, and reduced risk. Beroe has been providing these services for more than 15 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
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Debobrata Hembram
debobrata.hembram@beroe-inc.com
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