Press release
Local General Freight Trucking Market Analysis, Status and Business Outlook 2021 to 2030
The Global Local General Freight Trucking Market Research Report Forecast 2021 – 2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehend Local General Freight Trucking data that enhances the understanding, scope, and application of this report. The report also takes into account the impact of the novel COVID-19 pandemic on the Local General Freight Trucking market and offers a clear assessment of the projected market fluctuations during the forecast period.The global local general freight trucking market is expected to grow from $111.84 billion in 2020 to $125.24 billion in 2021 at a compound annual growth rate (CAGR) of 12%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $170.8 billion in 2025 at a CAGR of 8.1%.
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Key Players:
YRC Worldwide Inc; JB Hunt Transport Services Inc.; FedEx Corporation; XPO Logistics Inc; Knight-Swift Transportation Holdings Inc; American Rail Center Logistics; DHL; United Parcel Service; Challenger Motor Freight Inc; Creed Freight System; JR Traffic and others.
Markets Segmentation
By Type: Truckload transportation; Less-than-truckload transportation; Intermodal transportation; Dry-bulk transportation; Other2) By Size: Heavy Trucks; Medium Trucks; Light Trucks3) By Application: Oil & Gas; Industrial & Manufacturing; Energy & Mining; Food & Beverages; Pharmaceuticals & Healthcare; Others
The study objectives of this report are:
To study and analyze the global Local General Freight Trucking size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2026, and forecast to 2028.
To understand the structure of Local General Freight Trucking by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Local General Freight Trucking manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Local General Freight Trucking with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Local General Freight Trucking submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Industry News
XPO Logistics' 5-point plan to get its operating ratio back on track
XPO has weaned itself off of purchased transportation and instead in-sourced that capacity, moving drivers between city and linehaul operations, CIO Mario Harik said on an earnings call last week. But because of labor and equipment constraints, the company didn't have enough in-house capacity, and the strategy became more costly during Q3.
Market Overview
The impact of COVID19 is expected to limit the growth of the local freight trucking market in the coming years. The transportation industry faces severe challenges due to coronavirus with disruption in the supply chain. A decrease in demand led to a fall in the supply of raw material or end-products such as restaurant supply, live event equipment, among others. According to the Center for Disease Control and Prevention, the trucking industry lost more than 88,000 jobs in April 2020, a 5.8% decline from March, a 20.5 million job losses across the U.S., placing the nation's total unemployment rate at 14.7%. A recent survey found that nearly half (48%) of carriers registered significantly lowered freight rates across the U.S. Therefore, the prevalence of COVID-19 restrains the growth of the local freight trucking market.
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https://www.marketinsightsreports.com/reports/05182898751/local-general-freight-trucking-global-market-report-2021-covid-19-impact-and-recovery-to-2030-including-1-by-type-truckload-transportation-less-than-truckload-transportation-intermodal-transportation-dry-bulk-transportation-other-2-by-size-heavy-trucks-medium-trucks-light-trucks-3-by-application-oil-gas-industrial-manufacturing-energy-mining-food-beverages-pharmaceuticals-healthcare-others-covering-yrc-worldwide-inc-jb-hunt-transport-services-inc-fedex-corporation-xpo-logistics-inc-knight-swift-transportation-holdings-inc?Mode=74
Key Reasons to Purchase Local General Freight Trucking Market Report:
-The report analysis by geography highlighting the consumption of the product/service within the region also as indicating the factors that are affecting the market within each region
-The report provides opportunities and threats faced by the vendors in the global Local General Freight Trucking Industry
-The report indicates the region and segment that's expected to witness the fastest growth
Competitive landscape includes the market ranking of the main players, along with new product launches, partnerships, business expansions, and acquisitions.
-The report provides extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the main market players
-The report gives the present as well as the future market outlook of the industry regarding recent developments, growth opportunities, drivers, challenges, and restraints of both emerging also as developed regions
Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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