The document summarizes a report on the global freight trucking market. It states that the market is projected to reach $4 trillion by 2030, growing at a 5% compound annual growth rate. Increased trade and distance between manufacturing and end users is boosting demand. Freight trucking is also cost effective for door-to-door delivery given improved road infrastructure. Rising e-commerce is another driver as online shopping increases the need to transport goods. The top players in the freight trucking market are listed and the document outlines market segmentation by type, end user, distance, and cargo type.
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Freight trucking market
1. TECHNOLOGY
Increasing
Technological
Advancement to
Freight Trucking
Market Analysis
and Forecast 2030
By ajinkya January 21, 2022 No Comments
According to the report, the global freight trucking market is
projected to reach ~US$ 4 Trn by 2030, expanding at a CAGR of
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2. ~5% during the forecast period. Rise in trade and more distance
between manufacturing units and end-users is likely to boost the
market for freight trucking during forecast period. In developing and
major emerging economies, transportation of products and goods by
means of roadways plays an integral role. Moreover, this mode of
transport is cost-effective for door-to-door service, owing to improved
road infrastructure. This is anticipated to propel the freight trucking
market during the forecast period.
Major Key Players of the Freight Trucking Market are:
A.P.Moller Maersk, Canadian National, CEVA Logistics, CMA CGM,
DB SCHENKER, Deutsche Post, DHL Paket GmbH, Estes Express
Lines, FedEx Corporation, Kuehne + Nagel, Nippon Express Co.,
Ltd., R+L Carriers,Saia Motor Freight Line, SNCF Geodis, Swift
Transportation, TNT Holding B.V., UPS Freight, XPO Logistics,
Yamato Holdings Co., Ltd., and YRC Worldwide Inc.
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Increasing industrialization and preference toward e-tailing is estimated
to boost the freight trucking market. Online shopping is witnessing
significant expansion, owing to an increase in speedy Internet access,
which has led to a rise in preference toward e-tailing among
consumers. Furthermore, convenience of shopping from home is
projected to boost e-Commerce and consequently, drive the freight
trucking market during the forecast period.
Global Freight Trucking Market: Segmentation
Freight Trucking Market, by Type
· Lorry Tank
3. · Lorry Tank
· Truck Trailer
· Refrigerated Truck
· Flat Bed Truck
Freight Trucking Market, by End User
· Oil & Gas
· Industrial & Manufacturing
· Defense
· Energy & Mining
· Chemicals
· Pharmaceuticals & Healthcare
· Food & Beverages
Freight Trucking Market, by Distance
· 50 Miles or Less
· 51 Miles to 100 Miles
· 101-200 Miles
· 201-500 Miles
· Above 501 Miles
4. Freight Trucking Market, by Cargo Type
· Dry Bulk Goods
· Oil & Diesel
· Postal
· Others
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Expansion of Freight Trucking Market
Surge in trade volume due to rising bilateral trade among countries is
projected to boost the freight trucking market during the forecast
period. China witnessed a surge in both general trade volume and
proportion, escalating to 15.66 trillion Yuan. China trade volume
accounted for 56.4% of total foreign trade. Major trading partners of
China are the U.S., the European Union, and ASEAN. Exports of
China to the U.S. further rose by 15.2% percent year-on-year. Based on
type, the global freight trucking market has been segmented into truck
trailer, lorry tank, flat bed truck, refrigerated truck, and others. Lorry
tank and truck trailer are likely to be highly lucrative segments during
the forecast period. This is primarily due to a rise in trade volume from
one region to another. The refrigerated truck segment is estimated to
expand at a rapid pace during the forecast period, due to rising export
and import of perishable goods across the globe.
Research objectives:-
– To study and analyze the global Freight Trucking consumption
(value & volume) by key regions/countries, product type and
application, history data.
5. application, history data.
– To understand the structure of the Freight Trucking market by
identifying its various sub-segments.
– Focuses on the key global Freight Trucking manufacturers, to define,
describe and analyze the sales volume, value, market share, market
competitive landscape, SWOT analysis, and development plans in the
next few years.
– To analyze the Freight Trucking with respect to individual growth
trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the
growth of the market (growth potential, opportunities, drivers,
industry-specific challenges and risks).
TMR Latest News Publication:
Last-Mile Delivery Market – Technological advancements and the
booming eCommerce sector will remain the leading factors that will
propel the market during the forecast period. In addition,
advancements in robotics and projected adoption of semi-autonomous
and autonomous delivery vehicles will play an imperative role in
redefining last mile delivery transportation in the upcoming years. In
order to overcome challenges in the execution of delivery models,
companies should increase R&D in leading-edge information systems
and inventory management systems, among others, to gain a
competitive edge over other service providers
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