Specialized Freight Trucking Market Current Demand, Key Trends, Growth Rate, Opportunities And Forecast To 2032

As per The Business Research Company's Specialized Freight Trucking Opportunities And Strategies Market Report 2023, the global specialized freight trucking market grew from $788.4 billion in 2017 to $1,001.5 billion in 2022 at a compound annual growth rate (CAGR) of 4.9%. The market is expected to grow from $1,001.5 billion in 2022 to $1,485.7 billion in 2027 at a CAGR of 8.2%, and to $2,231.0 billion in 2032 at a CAGR of 8.5%.

The rising demand for raw materials from the manufacturing industries is expected to drive the specialized freight trucking market. The upsurge in demand is attributed to the rise in industrialization, population, and urbanization. For instance, according to the report of the World Bank, the European mineral raw materials industry demonstrated a considerable increase in the production of minerals. The demand for minerals such as graphite, lithium, and cobalt is expected to increase by 500% by 2050. There is a need for efficient specialized freight trucking to carry these dry bulk materials, thereby driving the market for the specialized freight trucking market.

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The companies in the specialized freight trucking market are focusing on launching various new trucks based on IoT (Internet of Things) in the market. The applications of IoT (Internet of Things) are transforming logistics with online fleet management. Access to real-time data and onboard connectivity is helping enterprises boost profits while unlocking new levels of efficiency, sustainability and safety. For example, DHL, an American mail and logistics company, is rolling out DHL SmarTrucking, an innovative trucking solution leveraging IoT technology. DHL has equipped trucks with IoT sensors to provide real-time data analysis for route optimization, reducing transit times by up to 50% and providing over 95% reliability for real-time tracking. DHL SmarTrucking has aimed to build a fleet of 10,000 IoT-enabled trucks by 2028.

The top opportunities in the specialized freight trucking market by type will arise in the dry bulk materials segment, which will gain $178.1 billion of global annual sales by 2027. The top opportunities in the specialized freight trucking market by application will arise in the industrial and manufacturing segment, which will gain $137.4 billion of global annual sales by 2027. The top opportunities in the specialized freight trucking market by size will arise in the heavy trucks segment, which will gain $270.7 billion of global annual sales by 2027. The specialized freight trucking market size will gain the most in the USA at $94.3 billion.

Specialized Freight Trucking Market Segmentation:
The specialized freight trucking market is segmented by type, by component, by function and by type of traders.
By Type -
The specialized freight trucking market is segmented by type into
a) Automobiles And Heavy Equipment
b) Bulk Liquids
c) Dry Bulk Materials
d) Forest Products
e) Refrigerated Goods

By Application -
The specialized freight trucking market is segmented by application into
a) Oil And Gas
b) Industrial And Manufacturing
c) Energy And Mining
d) Food And Beverages
e) Pharmaceuticals And Healthcare
f) Other Applications

By Size -
The specialized freight trucking market is segmented by size into
a) Heavy Trucks
b) Medium Trucks
c) Light Trucks

Major players in the specialized freight trucking market include FedEx Corporation, Plains GP Holdings, Energy Transfer Partners LP, A.P. Møller-Mærsk A/S, Cargill, Incorporated.

The regions covered in the global specialized freight trucking market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Specialized Freight Trucking Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Specialized Freight Trucking Market Report Table Of Content
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
……
19. South America Market
20. Middle East Market
21. Africa Market
22. Appendix

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