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Freight Trucking - Global Strategic Business Report

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    Report

  • 752 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141338

Global Freight Trucking Market to Reach $3.4 Trillion by 2030

The global market for Freight Trucking estimated at US$2.3 Trillion in the year 2023, is projected to reach a revised size of US$3.4 Trillion by 2030, growing at a CAGR of 4.8% over the analysis period 2023-2030.

Truck Trailer, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$1.1 Trillion by the end of the analysis period. Growth in the Lorry Tank segment is estimated at 3.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $555.3 Billion, While China is Forecast to Grow at 6.3% CAGR

The Freight Trucking market in the U.S. is estimated at US$555.3 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$770.8 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.

Exciting New Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

What to Expect from the Global Economy in 2024

Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.

Select Competitors (Total 244 Featured)

  • DHL International GmbH
  • Catom Trucking, Inc.
  • A.P. Moller-Maersk A/S
  • Americold
  • Canadian National Railway Company
  • CEVA Logistics
  • CMA Cgm S.A
  • Coyote Logistics LLC
  • Expeditors International of Washington, Inc.
  • Agro Merchants Group
  • Burris Logistics
  • Alliance Shippers Inc.
  • Estes Express Lines
  • Congebec
  • Cargomatic, Inc.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Freight Trucking - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Global Trade & Retail: The Foundation for Growth in the Freight Trucking Industry
  • Trade & Transport Logistics Are Mutually Reinforcing: Global Value of Export Trade (In US$ Billion) for the Years
  • How Trade, Transport & Retail Industries Are Impacted by the Pandemic & What’s the New Normal?
  • Transportation Industry Bites the Dust
  • Retailing & Merchandizing, the Key Drivers of Urban Logistics, Slumps
  • Special Focus on Departmental Stores
  • Global Department Stores Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • An Uncertain Recovery in Global Trade Means the Pain of the Pandemic Will Continue to Linger On for the Freight Transport Industry
  • Recent Market Activity
  • Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Moving Beyond COVID-19, How Will Global Supply Chains Looks Like? The Answer Every Stakeholder in Supply Chain Logistics Should Know
  • As Companies Come to Terms With the Depth of their Dependencies, Globalization Will Reduce to Regionalization
  • Supply Chain 24/7 Visibility, the New Normal
  • Why the Need to Modify The Pharmaceutical Supply Chain Is So Great?
  • Rethinking Scale & Mix Will See the Rise of Parallel Supply Chains
  • Making Data Talk: Digitization Will be the Key to Building Stronger, Smarter Supply Chains
  • Focus on Road Infrastructure Development Post Pandemic to Ensure Sustained Growth in the Freight Trucking Industry
  • Year 2020, a Year of Hiatus for Road Development Projects
  • A Quick Rebound in 2021 is Supported by the Fact that Roads Play a Crucial Role in Enabling Seamless Movement of Goods Vital to Economic Recovery & Growth
  • Growing Need to Bridge Infrastructure Gap Which is the Highest for Roadways Promises to Expand Budget Outlays for Highways and Transport Development : Global Cumulative Investments in Roadways Vs Actual Need for the Period 2016-2040 (In US$ Trillion)
  • Cumulative Global Infrastructure Spending Gap 2018-2040 (In US$ Billion)
  • Demand for Refrigerated Trucks Grows in Parallel to the Focus Shed on Safe Transport of Perishable Temperature Sensitive Food Products & Produce
  • Innovations in Refrigeration Systems for Transport Vehicles Gains Prominence
  • Growing Demand for Frozen Foods Bodes Well for Refrigerated Road Transport Vehicle Demand & Trucking Services: Global Opportunity for Frozen Foods by Type (In US$ Billion) for Years 2020, 2022, 2024, 2026
  • In-Country Vaccine Transport Needs to Benefit Demand for Refrigerated Trucks & Trucking Services
  • Fleet Telematics Brings in Performance Improvements in the Trucking Industry
  • Cost Pressures in the Logistics Industry Spurs Market Opportunities for CV Telematics in Fleet Management
  • Trucking Service Providers Step Up Spending on Telematics: Global Spending on Commercial Vehicle Telematics (In US$ Million)
  • Rise of e-Commerce Comes as a Boon For Urban Logistics & the Trucking Industry in Particular
  • Global e-Commerce Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Growing Focus on Enhancing Effectiveness of Last Mile Delivery Spurs Demand for Mini Electric Trucks
  • Business-to-Customer (B2C) e-Commerce Pushes Last Mile Delivery Into a Multi-Billion Dollar Market: Global Last Mile Delivery Market (In US$ Billion) for Years 2020, 2022 and 2025
  • Hybrid Truck-Drone Model for Last-Mile Delivery
  • Autonomous Trucking: A Revolution in Making in the Trucking Industry
  • Digitalization of Logistics Gains Fervor Amid the Pandemic
  • Growing Number of Service Providers Leverage Data and Analytics for Smart Transportation
  • The Push to Digitalize Gets Stronger: Global Digital Logistics Market Opportunity (In US$ Billion) for Years 2020, 2022, 2024 & 2027
  • 3PLs Step Up Investments in Freight Management Systems. Here’s Why
  • Global Opportunity in Freight Management Systems Market (In US$ Million) for Years 2020, 2022 and 2024 and 2027
  • Big Data Analytics Gains in Importance in Freight Management Systems
  • The Move Towards Digitalization Accelerates Adoption of New Technologies & Presents New Opportunities for Growth
  • Here’s How IoT Will Deliver Revolution to the Trucking Industry
  • Rise of Blockchain in Trucking: A Review
  • Artificial Intelligence (AI) Makes Inroads in the Trucking Industry
  • Global Opportunity for Artificial Intelligence (AI) in Logistics and Supply Chain (In US$ Billion) for Years 2020, 2022, 2024, 2025 and 2027
  • New On-Demand Trucking Apps Take Center Stage
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Truck Trailer by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Truck Trailer by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 3: World 16-Year Perspective for Truck Trailer by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Lorry Tank by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Lorry Tank by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 6: World 16-Year Perspective for Lorry Tank by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Flatbed Truck by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Flatbed Truck by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 9: World 16-Year Perspective for Flatbed Truck by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Refrigerated Truck by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Refrigerated Truck by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 12: World 16-Year Perspective for Refrigerated Truck by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Other Truck Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Other Truck Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 15: World 16-Year Perspective for Other Truck Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Heavy Trucks by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Heavy Trucks by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 18: World 16-Year Perspective for Heavy Trucks by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Medium Trucks by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Medium Trucks by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 21: World 16-Year Perspective for Medium Trucks by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Light Trucks by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 23: World Historic Review for Light Trucks by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 24: World 16-Year Perspective for Light Trucks by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Dry Bulk Goods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 26: World Historic Review for Dry Bulk Goods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 27: World 16-Year Perspective for Dry Bulk Goods by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 28: World Recent Past, Current & Future Analysis for Oil & Diesel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 29: World Historic Review for Oil & Diesel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 30: World 16-Year Perspective for Oil & Diesel by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 31: World Recent Past, Current & Future Analysis for Postal by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 32: World Historic Review for Postal by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 33: World 16-Year Perspective for Postal by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 34: World Recent Past, Current & Future Analysis for Other Cargo Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 35: World Historic Review for Other Cargo Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 36: World 16-Year Perspective for Other Cargo Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 37: World Freight Trucking Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 38: World Recent Past, Current & Future Analysis for Freight Trucking by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 39: World Historic Review for Freight Trucking by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 40: World 16-Year Perspective for Freight Trucking by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCE
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • DHL International GmbH
  • Catom Trucking, Inc.
  • A.P. Moller-Maersk A/S
  • Americold
  • Canadian National Railway Company
  • CEVA Logistics
  • CMA Cgm S.A
  • Coyote Logistics LLC
  • Expeditors International of Washington, Inc.
  • Agro Merchants Group
  • Burris Logistics
  • Alliance Shippers Inc.
  • Estes Express Lines
  • Congebec
  • Cargomatic, Inc.

Table Information