Australian transport industry is a very important sector of country’s overall economy. Although all 4 sectors affect the GDP growth, road freight accounts for about 80% of the total revenue of the transport industry. This shows just how much Australian economy relies on the trucking industry which experts believe will continue to be the case in the future.
Although increase in mining and construction projects will increase the demand for trucking services, the retail and wholesale industry still accounts for over 30% of total industry revenue. Because 99% of the goods produced domestically or imported require road freight services to reach the final destination, increase in the manufactured goods automatically boosts the road freight sector performance. This demand drives new industry trends and increase in truck sales. The higher the demand for road freight services, the greater employment opportunities and the higher truck sales.
According to Australian Bureau of Statistics August 2014 report, light and heavy rigid trucks experienced the largest growth. Namely, since 2009, the number of registered heavy rigid trucks has increased by 6% and the number of registered light rigid trucks has increased by about 22%. The growth mainly occurred in Australia’s largest ports: Victoria, New South Wales and Queensland. Consequently, this is where road freight services are in high demand. And so is the demand for used trucks. According to industry reports, used truck sales will increase in the following 5 years due to increased number of smaller e-commerce businesses and single-driver companies.
All industry changes may affect you and/or your business. Follow our latest road freight industry news and trends to ensure you make the right business decisions, whether is expanding into a new market or buying trucks for you.
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