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General Freight Trucking Market Trends, Size, Industry Segments And Profit Growth By Forecast To 2033
General Freight Trucking Market
General Freight Trucking Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1502.83 billion In 2028 At A CAGR Of 9.2% :
The general freight trucking market size has grown strongly in recent years. It will grow from $964.36 billion in 2023 to $1058.22 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to increase in oil and gas exports, increasing government support, and growth in the healthcare industry..
The general freight trucking market size is expected to see strong growth in the next few years. It will grow to $1502.83 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to growing e-commerce sales, rising demand for food products, rising demand for raw materials from the manufacturing industries and rising urbanization. Major trends in the forecast period include truck platooning for efficient and economical operations, use of artificial intelligence (ai) in trucks, iot (internet of things) in trucks, fleet management software, and strategic partnerships and collaborations..
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General Freight Trucking Market Major Segments
The general freight trucking market covered in this report is segmented -
1) By Type: Local General Freight Trucking, Long-Distance General Freight Trucking
2) By Size: Heavy Trucks, Medium Trucks, Light Trucks
3) By Application: Oil And Gas, Industrial And Manufacturing, Energy And Mining, Food And Beverages, Pharmaceuticals And Healthcare, Other Applications
Key Driver - Telematics Revolutionizing The General Freight Trucking Market
Increase in use of telematics in automotive sector is expected to propel the growth of general freight trucking market. Telematics is a combination of telecommunications and informatics, and it refers to the use of communication and information technology to transport, save, and receive data between devices and remote objects over a network. Telematics has grown into a critical tool in the trucking and transportation industries, providing fleet managers with crucial data about their vehicles and drivers. For instance, in January 2021, Mix Telematics, a South Africa-based software company, announced the launch of MyMiX Tracking. A new app-based tracking solution for fleets, designed to provide real-time monitoring capabilities to improve driver safety and manage risks. This solution has been crafted to offer real-time monitoring features, assisting clients in enhancing driver safety and risk management. It is a GPS fleet tracking solution accessible through a mobile app, empowering drivers to self-correct unsafe driving habits. Therefore, increase in use of telematics in automotive sector is expected to propel the growth of general freight trucking market.
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Prominent Trend - Technological Advancements And Innovative Partnerships In The General Freight Trucking Market
Major companies operating in the general freight trucking market are developing new innovative technologies, such as AI based transportation system to provide reliable services to the customers. AI-based transportation systems refer to the use of artificial intelligence (AI) technologies in the transportation industry to improve traffic safety, efficiency, and passenger experience. For instance, in December 2022, CJ Logistics Corporation, a South Korea-based logistics company, launched The Unban. It is a uniquely designed platform for freight transportation that uses big data and artificial intelligence to link senders and freight trucks directly. The platform enables a goods truck owner to choose a transportation offer after a bidder uploads information about the location of departure, destination, and type of cargo.
General Freight Trucking Market Players
Major companies operating in the general freight trucking market report are United Parcel Service, Inc, Deutsche Post AG, FedEx Corporation, C.H. Robinson Worldwide, Inc, J.B. Hunt Transport Services, XPO Logistics, Inc., Ceva Logistics AG, , Landstar System, Inc, A.P. Moller - Maersk, Standard Vulcanizers, Freight Mart Logistics, Prime Transport Corporation, OM Logsitcs Limited, Wellfield Services Limitada, Doyun Logistics Co., Ltd., GKR Transport, Australian Container Freight Services, Jiangsu Kunyue Logistics Co Ltd, Kunshan Yunda Express Co Ltd, Changsha Sitong Moving Transport Co Ltd, Ningbo Jinxing Logistics Co Ltd, Simco Trans GmbH, Shanghai Ruiqiang Logistics Co Ltd, Sichuan Wangcang County Transport Co Ltd, Beijing Keyun Logistics Co Ltd, TNT Expressare, InstaFreight GmbH, Haberling, Smart Move Facilities Services Inc, Fixemer Real Estate, Kahmen TransCargo GmbH, House of Logistics and Mobility, AW Transport & Logistics GmbH, Livchem Logistics GmbH, DHL Express, Transportes Della Volpe Sa Comercio E Industria, Spice Logistics Private Limited, Pavages J.M. Beaulieu Inc, Les, Spares, Blackmine Outfitters Trucking Ltd, J & S Services Inc, R & C Weare Logging Ltd, N. W. White & Company, Bayshore Transportation System, Inc., Benny Whitehead, Inc., Koleaseco, Inc., Harper Investments, Inc., Pemex Logística, E.P.S., Frialsa Frigoríficos, S.A. de C.V., Bravo Servicos Logisticos Ltda, Ic Transportes Ltda, Tri Star Transport, Transportes Transvidal Ltda, Liderbras Logistica E Transportes Ltda, Xiamen C&D, Oilmar Shipping and Chartering DMCC, UB Freight Australia Pty LTD, International Marine & Energy DMCC, Bin Jaraa General Transporting, Contracting & General Maintenance Company, Tianjin Jinshi Wukuang International Logistics Co Ltd, Reinhardt Transport (Pty) Ltd, The National Coal Supply Corporation LTD, Alpha Omega International Trading Cc, Autocarrier Transport, Fpt Group (Pty) Ltd, Super Group Freight, Atteridgeville Bus Service (Pty) Ltd
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the general freight trucking market in 2023. North America was the second largest region in the general freight trucking market. The regions covered in the general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. General Freight Trucking Market Report Structure
3. General Freight Trucking Market Trends And Strategies
4. General Freight Trucking Market - Macro Economic Scenario
5. General Freight Trucking Market Size And Growth
…..
27. General Freight Trucking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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