Truck-as-a-Service Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Truck as a Service Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The truck-as-a-service market size has grown exponentially in recent years. It will grow from $27.69 billion in 2023 to $34.77 billion in 2024 at a compound annual growth rate (CAGR) of 25.6%. The growth in the historic period can be attributed to logistics and supply chain optimization, cost efficiency and scalability, last-mile delivery solutions, e-commerce growth, flexibility in fleet management.

The truck-as-a-service market size is expected to see exponential growth in the next few years. It will grow to $82.17 billion in 2028 at a compound annual growth rate (CAGR) of 24.0%. The growth in the forecast period can be attributed to rising demand for sustainable transport, globalization and trade expansion, urbanization and smart city initiatives, increased outsourcing of logistics, dynamic regulatory environment. Major trends in the forecast period include adoption of on-demand trucking platforms, collaborations with e-commerce and retail players, incorporation of advanced safety and security features, customization and tailoring of truck services, emphasis on flexible and scalable solutions.

Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=9500&type=smp

Market Segmentation:
The truck as a service market covered in this report is segmented -

1) By Service: Digital Freight Brokerage, Telematics, Data Analytics, Truck Platooning
2) End-User: Chemicals, Pharmaceutical And Healthcare, Fast-Moving Consumer Goods, Food And Beverages, Other End-Users

Major Driver - Surging Demand From Automotive Industry Fuels Growth Of The Truck-As-A-Service Market
The increasing demand from the automotive industry is expected to propel the growth of the truck-as-a-service market going forward. The automotive industry refers to a broad variety of businesses and institutions engaged in the planning, creation, production, promotion, and sale of automobiles. Truck-as-a-service benefits the automotive industry by providing the service of transporting any freight products from one location to another in an insulated truck. For instance, according to a report published by Zippia Inc., a US-based provider of online recruitment services, in 2020, 14 million units of new cars and light trucks and 39.3 million used light automobiles were sold more than in the US. In 2021, the American auto sector sold 15 million cars and light trucks. Therefore, the increasing demand from the automotive industry across the globe is driving the market for truck-as-a-service.

Competitive Landscape:
Major companies operating in the truck-as-a-service market report are Volkswagen AG, Daimler Truck AG, C.H. Robinson Worldwide, Inc., MAN Truck & Bus SE, Ryder System, Inc., Penske Truck Leasing Co, L.P., XPO Logistics, Inc., Landstar System, Inc., Knight-Swift Transportation Holdings Inc., Schneider National, Inc., Old Dominion Freight Line, Inc., ArcBest Corporation, YRC Worldwide Inc., Trimble Inc., Werner Enterprises, Inc., J.B. Hunt Transport Services, Inc., NFI Industries Inc., Saia, Inc., Universal Logistics Holdings, Inc., Marten Transport, Ltd., Covenant Logistics Group, Inc., Celadon Group, Inc., Heartland Express, Inc., USA Truck, Inc., Roadrunner Transportation Systems, Inc., Road One, Inc., P.A.M. Transportation Services, Inc., Fleet Complete, Estes Express Lines, Fleet Advantage LLC., A. Duie Pyle, AAA Cooper Transportation, Central Freight Lines Inc., Dayton Freight Lines Inc., New England Motor Freight, Inc., Oak Harbor Freight Lines Inc., Pitt Ohio Express, LLC, USF Reddaway Inc., Ruan Transportation Management Systems, Southeastern Freight Lines

Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/truck-as-a-service-global-market-report

Top Trend - Giant Companies Revolutionize Truck-As-A-Service Market With Usage-Based Truck Leasing Solutions
Major companies operating in the truck-as-a-service market are concentrating on developing innovative solutions such as usage-based truck leasing options. A usage-based truck leasing option refers to a flexible and dynamic leasing arrangement for commercial trucks, where the cost of the lease is determined based on the actual usage or mileage of the vehicle rather than a fixed monthly rate. For instance, in December 2023, Mack Trucks, Inc., a US-based truck manufacturing company announced the launch of 'ElectriFi Subscription Program'. This subscription program is launched by the company for its MD Electric medium-duty truck. Through this subscription customers have the flexibility to pay based on the miles they drive each month, adopting a pay-as-you-go approach. Subscriptions commence with a minimum duration of three years, and customers have the option to extend up to six years. Upon reaching the subscription term's conclusion, customers can choose to renew, acquire the truck, or conclude the contract. The subscription fee is tiered and determined based on minimum monthly mileage of 1,700 miles.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Truck as a Service Market Characteristics
3. Truck as a Service Market Trends And Strategies
4. Truck as a Service Market - Macro Economic Scenario
5. Truck as a Service Market Size And Growth
…..
27. Truck as a Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

This release was published on openPR.