Specialized Freight Trucking Global Market Report 2024

The specialized freight trucking market size has grown strongly in recent years. It will grow from $1084.05 billion in 2023 to $1179.18 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The expansion witnessed in the historical period can be ascribed to the upsurge in oil and gas exports, robust economic growth in emerging markets, heightened production and consumption of chemicals, and a conducive low-interest-rate environment.

The specialized freight trucking market size is expected to see strong growth in the next few years. It will grow to $1617.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period is linked to the increasing demand for raw materials from manufacturing industries, along with the driving force of rising urbanization. Noteworthy trends expected in the forecast period encompass the surge in demand for raw materials from manufacturing industries and the market growth propelled by increasing urbanization.

The growth of the specialized freight trucking market is supported by the anticipated stable economic growth in both developed and developing countries. According to the International Monetary Fund (IMF), global GDP is projected to grow by 3.3% in 2020 and 3.4% in 2021. The expected recovery in commodity prices, following a significant decline in the historical period, is an additional factor contributing to the market's growth. Developed economies are poised for steady growth, while emerging markets are forecasted to exhibit slightly faster growth than their developed counterparts in the forecast period. This stable economic growth is anticipated to drive investments in end-user markets, thereby fueling the specialized freight trucking market.

The specialized freight trucking market is expected to experience growth propelled by the expansion of the E-commerce industry. E-commerce involves the online trading of products, services, and the exchange of money and data. Specialized freight trucking plays a crucial role in the last-mile delivery of goods to customers' homes, ensuring faster delivery by bringing inventory closer to the end-users. As an example, data from the United States Census Bureau reveals a 6.6% increase in retail e-commerce sales, reaching $269.5 billion in Q2 2023 in the United States. Consequently, the growth of the E-commerce industry becomes a driving force for the specialized freight trucking market.


Truck transportation companies are increasingly adopting collision mitigation technology to mitigate the loss of lives and damage associated with accidents. The collision mitigation system is designed to identify potential collisions and promptly alert the driver, providing an opportunity for preventive action. These systems are integrated into the vehicles and can automatically intervene in the event of an impending accident, acting without requiring input from the driver. Many countries globally are incorporating these systems as standard features in new trucks. For example, data from the US Department of Transportation reveals that twenty automakers committed to equipping nearly all new passenger vehicles with a low-speed Automatic Emergency Braking (AEB) system, including forward collision warning (FCW), by 2022. This technology has proven effective in preventing and mitigating front-to-rear crashes, potentially averting nearly 2000 crashes annually. Key companies manufacturing these collision mitigation systems for trucks include Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., and General Electric Company.

Major companies are actively developing innovative solutions, including proprietary technology, to offer reliable services to customers. Proprietary technology encompasses a combination of processes, tools, or interconnected systems. For instance, in September 2023, WARP, a US-based provider of a tech-powered freight network, introduced gLTL. This technology allows shippers to access a wide range of vehicle sizes, from sedans to SUVs and sprinter vans, and unlock additional capacity at accelerated rates. The new service covers various delivery and logistics options, such as direct-to-store delivery, inventory transfers to fulfillment centers, warehouse-to-warehouse transfers, and last-mile delivery.

Major companies operating in the specialized freight trucking market report are FedEx Corporation, Plains GP Holdings, Energy Transfer Partners LP, A.P. Møller-Mærsk A/S, Cargill, Incorporated, Saia, Inc., XPO logistics, Knight-Swift Transportation Holdings Inc., Deutsche Post DHL Group, Toyota Motor Corp, Spice Logistics Private Limited, Freight Mart Logistics, Prime Transport Corporation, OM Logsitcs Limited, Jiangsu Kunyue Logistics Co Ltd., Kunshan Yunda Express Co Ltd., Changsha Sitong Moving Transport Co Ltd., Ningbo Jinxing Logistics Co Ltd., Sichuan Wangcang County Transport Co Ltd., Shanghai Ruiqiang Logistics Co Ltd., Shanghai Taizhi Carbon Co Ltd., Tianjin Jinshi Wukuang International Logistics Co Ltd., InstaFreight GmbH, Haberling, Simco Trans GmbH, Fixemer Real Estate, Kahmen TransCargo GmbH, House of Logistics and Mobility, AW Transport & Logistics GmbH, Livchem Logistics GmbH, DHL Express, TNT Expressare, Spares, Pavages J.M. Beaulieu Inc Les, Smart Move Facilities Services Inc., Blackmine Outfitters Trucking Ltd., J & S Services Inc., R & C Weare Logging Ltd., N. W. White & Company, Bayshore Transportation System Inc., Benny Whitehead Inc., Koleaseco Inc., Harper Investments Inc., Pemex Logística E.P.S, Frialsa Frigoríficos S.A. de C.V, Bravo Servicos Logisticos Ltda, Ic Transportes Ltda, Transportes Transvidal Ltda, Transportes Della Volpe Sa Comercio E Industria, Liderbras Logistica E Transportes Ltda, Wellfield Services Limitada, Frigorifico Novara SA, Organizacion Coordinadora Argentina SRL, Luis A. Carrizo Y Cia. SRL, Oilmar Shipping and Chartering DMCC, Tri Star Transport, International Marine & Energy DMCC, Bin Jaraa General Transporting, Contracting & General Maintenance Company, The National Coal Supply Corporation Ltd., Fridenson Logistic Services Ltd., Challenge Airlines (IL) Ltd., Saudi Ground Services Co , Al Kathiri Holding Company, Dammam Airports Company, Alpha Omega International Trading CC, Auto Carrier Corp, FPT Group (Pty) Ltd., Vhubs, Standard Vulcanizer, LTD Commodities.

Asia-Pacific was the largest region in the specialized freight trucking market in 2023. North America was the second largest region in the specialized freight trucking market. The regions covered in the specialized freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the specialized freight trucking market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The specialized freight trucking market includes revenues earned by entities by providing transportation services for specialized goods that must be delivered to customers quickly. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The primary categories within specialized freight trucking encompass automobiles and heavy equipment, bulk liquids, dry bulk materials, forest products, and refrigerated goods. Automobiles refer to passenger vehicles designed for public road use, featuring four wheels and powered by a gasoline or diesel internal-combustion engine. Heavy equipment includes robust machines utilized in construction, forestry, agriculture, and mining, capable of tasks such as earth movement, drilling, lifting, grading, suction, plowing, and compaction.

The specialized freight truckingmarket research report is one of a series of new reports that provides specialized freight truckingmarket statistics, including global market size, regional shares, competitors with a specialized freight truckingmarket share, detailed specialized freight truckingmarket segments, market trends and opportunities, and any further data you may need to thrive in the specialized freight truckingindustry. This specialized freight truckingmarket research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.