Global Freight Trucking Market Overview 2023-2028 

IMARC Group, a leading market research company, has recently releases report titled “Freight Trucking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global freight trucking market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global freight trucking market size reached US$ 2.6 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.5 Trillion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028. 

Freight trucking involves using trucks to transport goods, commodities, and cargo overland. It plays a crucial role in connecting manufacturers, retailers, and consumers, employing diverse vehicles like dry vans, flatbeds, and refrigerated trucks, each tailored to specific shipping requirements. This method facilitates the smooth movement of products, vital for local resource availability and global trade. It streamlines door-to-door delivery, reaching locations that may be inaccessible by air or train. For short-distance deliveries, it proves more efficient than reserving space on a cargo ship or scheduling air transport.

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Global Freight Trucking Market Trends and Drivers:

Currently, the surge in online shopping platforms is fueling the demand for swift and efficient delivery services like freight trucking. Alongside this trend, advancements such as GPS tracking, automated scheduling, and fleet management software in the freight trucking industry are shaping a positive market outlook. The ongoing improvements in road networks and transportation infrastructure, aimed at facilitating faster and smoother truck movement, are further bolstering market growth. Additionally, the increasing adoption of just-in-time (JIT) inventory management across various industries, emphasizing the need for prompt and reliable freight trucking services to minimize stock holding costs, is contributing to market expansion.

Furthermore, the demand for specialized trucking services, specifically for transporting equipment and materials to and from drilling and processing sites, is a key driver of market growth. Security enhancements like real-time tracking and smart locks are enhancing the safety of freight trucking, making it a preferred option for transporting valuable or sensitive goods. The rise of tailored solutions catering to specific industrial needs, such as cold chain logistics for pharmaceuticals or secure trucks for high-value goods, is also playing a significant role in the market’s growth. Additionally, the increasing focus on core competencies by companies is leading to the outsourcing of their logistics and transportation needs.

Global Freight Trucking Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are:

A.P. Møller – Mærsk A/S, J & J Logistics LLC, J.B. Hunt Transport Services Inc., Landstar System Inc., Old Dominion Freight Line Inc., R+L Carriers Inc., Schneider National Inc., Swift Transportation Company (Knight-Swift Transportation Holdings Inc.), XPO Logistics Inc., Yellow Corporation, etc.

The report segmented the market on the basis of region, truck type, cargo type, distance, and end user.

Truck Type Insights:

  • Dry Van and Box Truck
  • Refrigerated Truck
  • Tanker Truck
  • Flatbed Truck
  • Others

Cargo Type Insights:

  • Dry Bulk Goods
  • Oil and Diesel
  • Postal
  • Others

Distance Insights:

  • 50 Miles or Less
  • 51 to 100 Miles
  • 101-200 Miles
  • 201-500 Miles
  • Above 500 Miles

End User Insights:

  • Food and Beverages
  • Industrial and Manufacturing
  • Energy and Mining
  • Oil and Gas
  • Pharmaceutical and Healthcare
  • Others

Regional Insights:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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