Freight Trucking Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Freight Trucking Market: By Cargo Type (Dry/Bulk Goods, Temperature Controlled Goods, Hazardous/Dangerous Goods), By Type (Flatbed Truck, Closed Box & Refrigerated, Curtain Side), By Product (Low to Medium Truck Load (LTL), Full Truck Load (FTL)) and Geography

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Report

Description

The freight trucking market is estimated to be valued at USD 1,783.6 billion in 2021 and is poised to grow at a significant CAGR of 6.3% over 2022-2028. Heavy-duty trucks are used in freight trucking to transfer products and commodities from one location to another. It is mostly used for transporting large and heavy goods. During the forecast period, the global freight trucking market size is estimated to grow due to increased demand for door-to-door transportation services. The Global freight trucking market is segmented, based on Cargo, into dry/bulk goods, temperature-controlled goods, and hazardous/dangerous goods. Dry/Bulk Goods segment is estimated to occupy the largest share in 2021 and the temperature-controlled goods segment is anticipated to show the highest growth rate with a CAGR of 11.4% during the forecast period, which can be due to the growing demand for pharmaceutical/biopharmaceutical products and healthcare products, which require temperature-controlled transportation. Furthermore, rise in industrialization and rapid growth in the construction industry and year-over-year growth in domestic and international trades across the globe are fuel the growth of market. The freight trucking industry is anticipated to increase rapidly due to growth in online retailing business and technological advancements such as GPS tracking, temperature-controlled compartments, and flatbed and load-to-road service. Moreover, rapid industrialization, grow in GDP in developed and developing economies, and transportation infrastructure development are projected to open profitable options for the global freight trucking market.

Recent Market Developments:

In February 2022, A.P. Moller – Maersk acquired Pilot Freight Services (Pilot) to extend its integrated logistics offering deeper into the supply chain of its customers.

In July 2021, Geodis acquired Velocity Freight Transport Inc. to meet the increased customer demand for more transportation alternatives to ensure their supply chains remain agile and effective.

Freight Trucking Market

MARKET SUMMARY
-
6.3% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 6.3%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Freight Trucking Market

  • The freight trucking market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The freight trucking market is segmented based on cargo, type, product, end-user industry, and geography.
Key Players
  • P.Moller Maersk
  • Canadian National
  • CEVA Logistics
  • CMA CGM
  • DB SCHENKER
Freight Trucking Market

Dynamics

The continuous technology improvements are projected to propel the freight trucking market for the forecasting period. Furthermore, the growth of the e-commerce industry has driven businesses in both developing and developed contries to acquire or rent freight trucking services for bulk goods transportation. Furthermore, the COVID-19 epidemic has accelerated the development of online buying and goods delivery to consumers’ homes. Companies are attempting to meet this increased customer demand by using freight trucking services to deliver items on schedule. Rapid urbanization, industrialization, growing population, and development in construction sector would also result in increased transportation volumes, propelling the global freight trucking market forward.


North-America Got Significant Share

Freight Trucking Market

The North America freight trucking market has registered the highest revenue share in 2021 and is expected to continue its dominance in the future. Increase in import/export practices in USA and Canada coupled with online shopping and door-to-door services are expected to continue their market domination. Moreover, the Asia Pacific expected to be the fastest expanding region in the market due to development in domestic commerce and retailing, investments in new road infrastructure, and increasing demand for urban last-mile delivery. In addition, rapid growth in GDP across India, China, and Japan also positively impact the revenue of the market over the forecast years.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The Freight Trucking Market report provides granular level information about the market size, regional market share, historic market (2016-2021) and forecast (2022-2028)
  • The Freight Trucking Market report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The Freight Trucking Market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The Freight Trucking Market report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The Freight Trucking Market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Freight Trucking Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Company Profile

  • P.Moller Maersk
  • Canadian National
  • CEVA Logistics
  • CMA CGM
  • DB SCHENKER
  • Deutsche Post
  • DHL Paket GmbH
  • Estes Express Lines
  • FedEx Corporation
  • Kuehne + Nagel
  • Nippon Express Co., Ltd.
  • R+L Carriers
  • Saia Motor Freight Line
  • SNCF Geodis
  • Swift Transportation
  • TNT Holding B.V.
  • UPS Freight
  • XPO Logistics,
  • Yamato Holdings Co., Ltd.
  • YRC Worldwide Inc.

Description

The freight trucking market is estimated to be valued at USD 1,783.6 billion in 2021 and is poised to grow at a significant CAGR of 6.3% over 2022-2028. Heavy-duty trucks are used in freight trucking to transfer products and commodities from one location to another. It is mostly used for transporting large and heavy goods. During the forecast period, the global freight trucking market size is estimated to grow due to increased demand for door-to-door transportation services. The Global freight trucking market is segmented, based on Cargo, into dry/bulk goods, temperature-controlled goods, and hazardous/dangerous goods. Dry/Bulk Goods segment is estimated to occupy the largest share in 2021 and the temperature-controlled goods segment is anticipated to show the highest growth rate with a CAGR of 11.4% during the forecast period, which can be due to the growing demand for pharmaceutical/biopharmaceutical products and healthcare products, which require temperature-controlled transportation. Furthermore, rise in industrialization and rapid growth in the construction industry and year-over-year growth in domestic and international trades across the globe are fuel the growth of market. The freight trucking industry is anticipated to increase rapidly due to growth in online retailing business and technological advancements such as GPS tracking, temperature-controlled compartments, and flatbed and load-to-road service. Moreover, rapid industrialization, grow in GDP in developed and developing economies, and transportation infrastructure development are projected to open profitable options for the global freight trucking market.

Recent Market Developments:

In February 2022, A.P. Moller – Maersk acquired Pilot Freight Services (Pilot) to extend its integrated logistics offering deeper into the supply chain of its customers.

In July 2021, Geodis acquired Velocity Freight Transport Inc. to meet the increased customer demand for more transportation alternatives to ensure their supply chains remain agile and effective.

Additional information

Region

Global Market

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