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Freight Trucking - Global Market Trajectory & Analytics

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    Report

  • 752 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141338

FEATURED COMPANIES

  • A.P. Møller - Mærsk A/S
  • CMA CGM S.A.
  • DHL International GmbH
  • FedEx Corporation
  • Nippon Express Co., Ltd.
  • R+L Carriers, Inc.

Global Freight Trucking Market to Reach $2.7 Trillion by 2026


Global freight transport is a key component of trade of goods and materials and comprises a complex system of transportation networks, companies, and government agencies that facilitate movement of goods from one place to another. Today, the global freight industry transports trillions of dollars` worth of goods annually to every corner of the globe Trucks are ubiquitous in the freight ecosystem given that virtually every parcel or container irrespective of the place of origin will take a trip on a freight truck before it reaches its destination. Land freight especially freight trucking comes with a baggage of advantages such as cost-effectiveness that comes with low packing needs and fuel costs; versatility and flexibility as trucks come in varied sizes capable of handling short or long hauls, local or across borders and even rural transport; preparedness as only single customs document processes are needed for most road transport making cross-border transport of goods relatively seamless; predictability in terms of scheduled delivery, easily tracking and tracing cargo; convenience of point to point and door-to-door service; universal access given the extensive road networks developed over the century in virtually every part of the globe.

Amid the COVID-19 crisis, the global market for Freight Trucking estimated at US$2.2 Trillion in the year 2022, is projected to reach a revised size of US$2.7 Trillion by 2026, growing at a CAGR of 4.7% over the analysis period. Truck Trailer, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$894.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lorry Tank segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 23% share of the global Freight Trucking market.

The U.S. Market is Estimated at $532.7 Billion in 2022, While China is Forecast to Reach $586.8 Billion by 2026


The Freight Trucking market in the U.S. is estimated at US$532.7 Billion in the year 2022. The country currently accounts for a 24.07% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$586.8 Billion in the year 2026 trailing a CAGR of 6.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR while Rest of European market (as defined in the study) will reach US$626.4 Billion by the end of the analysis period. Growth in domestic trade and retailing, Investments directed towards the creation of new road infrastructure, and growing demand for urban last mile delivery are some of the primary factors propelling market growth in developed regions. In the United States, on-road shipping by truck accounts for over 2/3rd of all domestic shipping in the country. Developing countries have increased substantially their exports of manufactured goods and services to developed economies. Trade between developing countries is also growing rapidly with over 48% of exports of leading export oriented economies now going to other developing countries. Last mile delivery has also witnessed a notable growth in developing countries over the last few years. This in turn increases demand for freight trucking in developing regions.

Flatbed Truck Segment to Reach $572.2 Billion by 2026


In the global Flatbed Truck segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$277 Billion will reach a projected size of US$384.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$114.9 Billion by the year 2026, while Latin America will expand at a 6.1% CAGR through the analysis period.

Select Competitors (Total 244 Featured):

  • A.P. Møller - Mærsk A/S
  • Canadian National Railway Company
  • CEVA Logistics
  • CMA CGM S.A.
  • DB SCHENKER
  • DHL International GmbH
  • Estes Express Lines
  • FedEx Corporation
  • JB Hunt Transport Services Inc.
  • Knight-Swift Transportation Holdings Inc.
  • Kuehne + Nagel International AG
  • Nippon Express Co., Ltd.
  • Procet Freight cc
  • R+L Carriers, Inc.
  • Saia
  • GEODIS
  • Swift Transportation Company
  • Transtech Logistics
  • United Parcel Service of America, Inc.
  • Werner Enterprises, Inc.
  • XPO Logistics Inc.
  • YRC Worldwide Inc.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

FEATURED COMPANIES

  • A.P. Møller - Mærsk A/S
  • CMA CGM S.A.
  • DHL International GmbH
  • FedEx Corporation
  • Nippon Express Co., Ltd.
  • R+L Carriers, Inc.

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Freight Trucking - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (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
  • Year 2020 Has Been a Year of Astounding Disruption & Unbelievable Transformation
  • COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
  • Unemployment Spike in 2020 Challenges Growth in Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • The First Vaccines Are Here! Will It Change the Existing Economic Realities? & Is it Really the Silver Bullet We Were Waiting For?
  • How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: COVID-19 Vaccines In Millions of Annual Doses For Years 2020 Through 2025
  • How Trade, Transport & Retail Industries Are Impacted by the Pandemic & What’s the New Normal?
  • Transportation Industry Bites the Dust
  • Global Trade Plummets Impacting Freight & Logistics: Global Trade Exports & Imports Volume Growth (in %) by Region for 2018-2020
  • 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
  • Global Merchandize Trade (In US$ Trillion) for Years 2019 to 2022
  • 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)
  • Continuous Development of World’s Highways to Expand Market Opportunities for the Trucking Industry: Length of Road Networks (In 000 Kilometers) in Top 15 Countries Worldwide for the Year 2020
  • 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
  • Sales of Refrigerated Vehicles (In Units) In the United States by Type for the Year 2021E
  • 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 PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 244

A selection of companies mentioned in this report includes:

  • A.P. Møller - Mærsk A/S
  • Canadian National Railway Company
  • CEVA Logistics
  • CMA CGM S.A.
  • DB SCHENKER
  • DHL International GmbH
  • Estes Express Lines
  • FedEx Corporation
  • JB Hunt Transport Services Inc.
  • Knight-Swift Transportation Holdings Inc.
  • Kuehne + Nagel International AG
  • Nippon Express Co., Ltd.
  • Procet Freight cc
  • R+L Carriers, Inc.
  • Saia
  • GEODIS
  • Swift Transportation Company
  • Transtech Logistics
  • United Parcel Service of America, Inc.
  • Werner Enterprises, Inc.
  • XPO Logistics Inc.
  • YRC Worldwide Inc.