Freight Trucking Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

Heavy-duty trucks are used by freight trucking to move cargo and merchandise from one location to another. It is mostly used for transporting large and heavy goods. A rising demand for door-to-door delivery is anticipated to fuel the freight trucking market. Additionally, the industry is supported by rising import and export operations of products and services globally. Moreover, the growing rate of e-commerce industry is also expanding the market growth. Due to the efficiency of freight trucking as a means of transportation for goods and services, it is in great demand across a variety of industries, including oil & gas, manufacturing, construction, mining, chemicals, and other sectors. The growing expansion and acquisitions of key market players to advance freight trucking services are also a key factor driving the market's growth. For instance, In February 2021, CEVA Logistics announced the expansion of its rapid LTL (Less-than-truckload) services from China to Southeast Asia.

The freight trucking market is expected to grow at a steady rate of around 5% owing to the increasing demand for the door-to-door transport service and growing urbanization. Rapid expansion of fast-moving consumer products is also driving the growth of the market.

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Based on type, the market is segmented into lorry tank, truck trailer, refrigerated truck, and flatbed truck. The truck trailer is expected to hold a significant share of the market throughout the forecast period owing to the growing construction and oil & gas industry worldwide, growing industrial and manufacturing units, and to get the material supplied with ease around the construction site. Hence, these are the factors driving the growth of the market.

Based on the cargo type, the market is categorized into dry bulk goods, oil & diesel, postal, and others. Among these, the oil & diesel category is expected to hold higher CAGR during the forecast period owing to the expanding manufacturing industry and increasing demand for safe and efficient transport of combustible fluids such as oil & diesel.

APAC to witness extensive growth

For a better understanding of the market adoption of the All-Terrain Vehicle industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period owing to the rising levels of industrializations in APAC’S growing nations, particularly China, India, South Korea, and Japan. The region's market growth is being supported by rising import and export activity in these growing economies. It is anticipated that rising urbanization and living standards in Asia and the Pacific will impact the expansion of door-to-door transportation services. In addition, one of the key drivers anticipated to fuel market expansion throughout the forecast period is an increase in demand for online retail services.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Freight Trucking market are Canadian National Railway Company, A.P. Moller – Maersk, CEVA Logistics, CMA CGM Group, DHL Paket GmbH, Deutsche Post AG, Estes Express Lines, FedEx, NIPPON EXPRESS HOLDINGS and United Parcel Service of America, Inc

“Global Freight Trucking Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.       

Market Segmentation:

1.     By Type (Lorry Tank, Truck Trailer, Refrigerated Truck, and Flat Bed Truck)

2.     By Cargo Type (Dry Bulk, Goods Oil, Diesel Postal, and Others)

3.     By End-Users (Manufacturing, Retail & E-Commerce, Transportation, Healthcare, Food & Beverages, Oil & Gas and Others)

4.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.     By Company (Canadian National Railway Company, A.P. Moller – Maersk, CEVA Logistics, CMA CGM Group, DHL Paket GmbH, Deutsche Post AG, Estes Express Lines, FedEx, NIPPON EXPRESS HOLDINGS and United Parcel Service of America, Inc

Key questions answered in the study:

1.     What are the current and future trends of the global freight trucking industry?

2.     How the industry has been evolving in terms of type, cargo type, and end-users?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global freight trucking industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global freight trucking suppliers across various region and countries?