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Freight Trucking: Global Strategic Business Report

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    Report

  • 752 Pages
  • January 2023
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141338

Global Freight Trucking Market to Reach $3.4 Trillion by 2030

In the changed post COVID-19 business landscape, 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$3.4 Trillion by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030. Truck Trailer, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$1.1 Trillion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Lorry Tank segment is readjusted to a revised 4.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $532.7 Billion, While China is Forecast to Grow at 7.1% CAGR

The Freight Trucking market in the U.S. is estimated at US$532.7 Billion in the year 2022. 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 7.1% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 4.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$683.2 Billion by the year 2030.

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 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • 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 digital archives and Research Platform
  • Complimentary updates for one year

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Frequently Asked Questions about the Global Market for Freight Trucking

What is the estimated value of the Global Market for Freight Trucking?

The Global Market for Freight Trucking was estimated to be valued at $2.2 Trillion in 2022.

What is the growth rate of the Global Market for Freight Trucking?

The growth rate of the Global Market for Freight Trucking is 5.6%, with an estimated value of $3.4 Trillion by 2030.

What is the forecasted size of the Global Market for Freight Trucking?

The Global Market for Freight Trucking is estimated to be worth $3.4 Trillion by 2030.

Who are the key companies in the Global Market for Freight Trucking?

Key companies in the Global Market for Freight Trucking include A.P. Møller, Mærsk A/S, Canadian National Railway Company, CEVA Logistics, CMA CGM S.A., DB SCHENKER, DHL International GmbH, Estes Express Lines and JB Hunt Transport Services 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 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 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 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 2022 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 2021 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, 2023 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
CANADA
JAPAN
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
CHINA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
EUROPE
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
FRANCE
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
GERMANY
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
ITALY
UNITED KINGDOM
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
AUSTRALIA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
INDIA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Freight Trucking Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

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.