Slovakia Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)

The rise in retail turnover spurred demand for road freight services due to increased consumer demand

• In July 2024, retail turnover rose by over 5% YoY, marking the seventh consecutive month of growth. Out of the nine components of retail trade, 5 recorded a YoY increase in turnover. The sector's overall performance was notably bolstered by a 12.4% surge in specialized stores, such as footwear, textiles, and pharmacies. Additionally, e-shops experienced a notable 21.6% YoY increase. Furthermore, large hyper- and supermarkets, the most significant component of retail trade, contributed to a 4.9% YoY growth in turnover. This increase in retail turnover drove the demand for road freight services, as more goods need to be transported to meet the rising consumer demand.
• In the coming years, the Slovakian construction industry is projected to grow, bolstered by investments in infrastructure, energy, and industrial sectors, with a significant boost from recovery funds from the European Union (EU). In July 2024, the European Commission approved the fourth disbursement of USD 978.4 million under Slovakia's Recovery and Resilience Plan. Cumulatively, with the three prior disbursements, Slovakia has secured over USD 3.2 billion from the EU as of July 2024. The growth in the construction industry is expected to boost the end-user segment.

Slovakia Road Freight Transport Market Trends

Growing GDP contribution from transport and storage sector supported by growing infrastructure construction

• In 2024, Slovakia enhanced its connectivity through 16 approved transport projects. These initiatives encompass upgrades to segments of the R2 and R4 Expressways, alongside enhancements to the D1 and D3 highways. Additionally, several rail links are slated for improvements, aiming to boost both passenger and freight transport efficiency. The Slovak Government has greenlit these projects, with those valued over USD 55.18 million being classified as strategic, reflecting their significant impact on the national infrastructure.
• In October 2024, Ukraine and Slovakia announced plans to expand their transportation projects with a new rail connection between Kyiv and major Slovak cities, including Bratislava and Košice. The rail service will include a transfer to Chop, a town in the Zakarpattia region of Ukraine, with ongoing work to construct a narrow-gauge railway to Uzhhorod. This route is expected to be operational by 2025-2026, with plans to establish direct connections between Bratislava, Chop, and Uzhhorod. Furthermore, the two governments are working on the development of the Pavlove - Mat’ovce border crossing, which is currently used for freight transport.

Fluctuating fuel price rates affected by Russia-Ukraine war and challenges in oil export-import

• As of October 2024, Slovakia remained committed to facilitating the flow of oil and gas from Russia to the West via Ukraine, despite pressure from the European Commission to halt these supply flows. Slovakia's reliance on transit pipelines through Ukraine, which has been resisting Russia's invasion since February 2022, exposes it to potential disruptions in key Russian energy supplies. In October 2024, fuel prices hit their lowest point since 2020, a trend expected to persist until the year's end. However, a tax hike from January 2025 could influence fuel prices. Oil was trading at USD 74 per barrel, down from a recent peak of USD 80, a fluctuation mirrored in fuel prices.
• In January 2025, Slovakia plans to raise its value added tax (VAT) from 20% to 23%. This adjustment is poised to have a pronounced effect on fuel prices, given that taxes constitute a significant portion of the final price. Presently, gasoline and diesel are priced at approximately USD 0.70 per liter. Of this, taxes, especially the consumption tax, account for over USD 0.50. With the 3% VAT hike, fuel prices could see an uptick of a few cents per liter. Fuel prices are expected to reach around USD 2.20 per liter in 2025. This marks an increase from October 2024 prices of USD 1.65 for gasoline and USD 1.54 for diesel.

Slovakia Road Freight Transport Industry Overview

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