North America Road Freight Transport Market 2018- FedEx, United Parcel Service (UPS), Ceva Logistics, DB Schenker, Yusen Logistics, XPO Logistics, C.H.Robinson, Swift Transportation Company, Schneider National, J.B.Hunt Transport Services Inc., Werner Ent

North America Road Freight Transport Market:

The road freight transportation market in North America is one of the matured markets in the world. Almost 70% of the freight movement (in tonnage) in US is done by trucks. The market is composed of large number of players leading to high competition between them and driving the demand for integrated logistics solutions with value-added services.

The factors such as the growing trade activities due to increased consumer demand, vast trucking network and advancements in the technology, along with the United States being the largest economy in the world, and North America Free Trade Agreement (NAFTA) are some of the factors driving the movement of goods through road.

The congestion and emissions resulting from the road transportation leading to modal shift, especially to railways and growing investments in rail infrastructure development are expected to hinder the growth of the road freight transportation market in North America. For instance, the freight volumes by railways in North America witnessed an increase of 5% in 2017. However, the investments in the development of the technology and alternative fuelled vehicles can help the road freight transportation sector to sustain. Moreover, the road transportation offers the advantage of door-to-door and last mile deliveries when compared to other modes of transportation.

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Apart from these, the driver shortages and the trucking costs resulting from the dynamic nature of fuel costs remain to be other concerns. For instance, according to an estimate, there was a shortage of 50,000 drivers in American trucking industry in 2017 and this number is expected to rise to 175,000 by 2026. The ELD (Electronic Logging Device) mandate by the Federal Motor Carrier Safety Administration (FMCSA) is also expected to cause a slight rise in the freight costs. The ELD automatically measures the Hours of Service (HOS).

Strong Growth in Freight Demand is anticipated:

According to Bureau of Transportation estimates, the total freight movement through trucks in United States is expected to reach 14.839 billion tons by 2045. Moreover, the reduction of taxes by US government from 35% to 21% is expected to boost the businesses in turn driving the logistics sector. According to American Trucking Association (ATA), the amount of goods moved by the trucks is estimated to grow at a rate of X% annually by 2023. In 2017, XX million tons were transported to Mexico through trucks whereas 57 million tons are transported to Canada from the US.

NAFTA - The Catalyst:

The countries in North America have their counterparts as their major trading partners. NAFTA is the main driver for the trading between these countries. According to the American Trucking Association (ATA), the trade through NAFTA assists almost USD 6.6 billion in the revenue of trucking industry and 31,000 jobs per year. Transport of goods by road is the dominant mode of transportation in Cross-Border trade between these countries. For instance, more than X% (in terms of value) and more than Y% (in terms of weight) of the merchandise trade of US with Canada and Mexico in 2016 happened through trucks.

North America Road Freight Transportation Market:

Fostering the Investments in Alternative Fuels and Technology Adoption may propel the North America Road Freight Transportation Market
The adoption of the cloud-based platforms, data analytics, and tools that helps the logistics firms in reducing the fuel costs by optimizing the transportation routes is critical. Moreover, the adoption of advanced technologies for trucking such as the autonomous vehicles with Advanced Driver Assistance Systems (ADAS) and truck platooning that includes moving the trucks with minimum distance apart such that it reduces the drag and reduces the fuel consumption. Also, the investments in alternative fuelled vehicles is going to be key differentiator for the players in the future of road freight transportation.

For instance, the truck platooning technology was tested for first time in June 2018 by the Volvo Trucks and FedEx along with North Carolina Turnpike Authority. The test was conducted using the Advanced Driver Assistance System (ADAS) on NC 540 ‘Triangle Expressway’ in North Carolina as a part of research collaboration.

North America Road Freight Transportation Market:

North America Road Freight Transportation Market Key Developments
June 2018: Landstar launched a mobile application, ‘Landstar Maximizer’, which helps its leased owner - operators to look and book their loads with the optimized combination in order to increase their revenues and keeps the truck loaded.

June 2018: United Parcel Service (UPS) announced an investment of USD 130 million for building five new Compressed Natural Gas (CNG) stations and to add more than 700 new CNG vehicles to its existing natural gas fleet throughout US. The vehicles include 400 semi-tractors and 330 terminal trucks and will help in reducing the CO2 emissions.

North America Road Freight Transportation Market Major Players: Some of the major players include FedEx, United Parcel Service, Ceva Logistics, DB Schenker, Yusen Logistics, Hellmann Worldwide Logistics, CJ Logistics, DSV, Swift Transportation Company, Schneider National, J.B.Hunt Transport Services Inc., Werner Enterprises Inc., and US Xpress, CRST International, Landstar System Inc. amongst others.

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North America Road Freight Transport Market Report Summary:
Metrics

Details

Industry

North America Road Freight Transport Market:

Study Period

(2014 - 2023)

Market Size in 2017

Provided in the report

Market Size in 2023

Provided in the report

Growth Rate

Provided in the report

Largest Market Share by Region

United States accounts for more than 3/4th of the market

Companies Mentioned:

International Players (FedEx, United Parcel Service (UPS), Ceva Logistics, DB Schenker, Yusen Logistics, XPO Logistics, C.H.Robinson), Local Players (Swift Transportation Company, Schneider National, J.B.Hunt Transport Services Inc., Werner Enterprises Inc., US Xpress, CRST International, Landstar System Inc., Old Dominion Freight Line, YRC Worldwide Inc., Knight Transportation Inc.

Key Developments:
Landstar launched a mobile application, ‘Landstar Maximizer’
United Parcel Service (UPS) announced an investment of USD 130 million for development of alternative fuelled vehicles and infrastructure

Report Offerings:

Latest trends in the North American Trucking Industry, growth prospects, industry competitiveness, major players, value/supply chain, regional market share and forecast to 2023.

Reasons to Purchase North America Road Freight Transportation Market Report:

To study current and future market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Detailed analysis of the segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
North America Road Freight Transportation Market Report Customization and Benefits
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.

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