Press release
Top Factor Driving Truck Transport Market Growth in 2025: Stable Economic Growth To Drive Truck Transport Market Growth
Truck Transport Market Share
The truck transport market's expansion is bolstered by the projected stability in economic growth seen in numerous developed and undeveloped nations. When there is equilibrium between demand and supply, efficient government regulations and low inflation, economic growth becomes stable. This stability represents a positive setting for investments and job growth. It influences the growth of the truck transport market by lifting requirements for goods, multiplying business activities, and promoting investment in infrastructure. For example, the House of Common Library reported the UK's GDP in Q2 2024 to be 2.9% more than its pre-pandemic level in Q4 2019. Concurrently, the Eurozone GDP saw a 3.9% rise, with Germany registering a 0.2% increase. The US led the economic surge among G7 nations during this time, documenting a GDP rise of 10.7%. Thus, such stable economic growth is expected to fuel the development of the truck transport market.
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How will the growth rate of the truck transport market shape industry trends by 2034?
The size of the truck transport market has seen robust growth in recent years. The market, which is projected to expand from $2275.23 billion in 2024 to $2488.54 billion in 2025, will experience a compound annual growth rate (CAGR) of 9.4%. The surge in growth during the historic period can be attributed to rapid urbanization, the application of artificial intelligence in truck production, and a low-interest rate environment.
In the following years, the trucking industry is likely to experience considerable expansion, reaching a market size of $3399.5 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 8.1%. This predicted growth during the forecast period can be ascribed to escalating investments in truck transportation in various industrial sectors. The upsurge in mergers and acquisitions also contribute to this market growth. Prevailing trends for this period encompass an emphasis on regionalization of fleets, platooning, utilization of big data analytics, integration of artificial intelligence, and the introduction of new trucks that incorporate IoT (Internet of Things) technology.
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What new trends are reshaping the truck transport market and its opportunities?
Truck transportation firms are increasingly embracing fleet regionalization as a strategy to lower operating expenses and enhance transportation effectiveness. Consequently, truck transportation businesses are gradually transitioning their services from the international and national scales to the regional one. The regionalization of fleets allows these companies to boost operational efficiencies and cut costs, thus enhancing the turnaround time for both drivers and trucks. Key benefits of fleet regionalization encompass an increase in ports of entry, expansion of intermodal system capabilities, and the reduction in travel distances.
Which primary segments of the truck transport market are driving growth and industry transformations?
The truck transport market covered in this report is segmented -
1) By Type: General Freight Trucking And Specialized Freight Trucking
2) By Size: Heavy Trucks, Medium Trucks And Light Trucks
3) By Application: Oil And Gas, Industrial And Manufacturing, Energy And Mining, Food And Beverages, Pharmaceuticals And Healthcare, Others
Subsegments:
1) By General Freight Trucking: Full Truckload (FTL) Services, Less-Than-Truckload (LTL) Services, Dry Van Trucking, Flatbed Trucking
2) By Specialized Freight Trucking: Refrigerated Trucking (Cold Chain Transport), Hazardous Materials Trucking, Oversized Or Heavy Haul Trucking, Auto Transport Services, Bulk Freight Trucking (Liquid And Dry Bulk)
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Which geographical regions are pioneering growth in the truck transport market?
Asia-Pacific was the largest region in the truck transport market in 2024. North America was the second largest region in the truck transport market. The regions covered in the truck transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the truck transport market landscape?
Major companies operating in the truck transport market include FedEx Corporation, Knight-Swift Transportation Holdings Inc., XPO Logistics, YRC Worldwide, J.B. Hunt Transport Services, Inc., LDI Dimotrans Group, Paige Logistics Ltd, Searcy Trucking Ltd, Transport Corporation of India, Vrl, Gati, ZARCAM, Agarwal Packers and Movers, United Parcel Service (UPS), Panalpina, TASA Logística, Shanghai CNEX Express Co. Ltd, Deppon Logistics Co. Ltd, HOAU Logistics Company Limited, Sohgo Security Services Co., Ltd, Skelton Truck Lines, Amazon Japan G.K, Schneider National, Inc., Van der Vlist Russia, Super Terminals, Konoike Transport Co., Ltd, Fukuyama Transporting Co. Ltd, Shanghai ANE Juchuang Supply Chain Management Co., Ltd, Seino Transportation Co., Ltd, Gefco, Logistics Ekol Romania, Puma Cargo, Truckways Limited, Deutsche Post AG, Schneider Transport SA, Dachser Group SE & Co, HAVI Logistics GmbH, Yusen Logistics, Maxitrans, Frigoexpres, Schenker Aktiengesellschaft, J&R Transport Inc, Yamato Transport Co., Ltd, Panamerican Cargo, Nippon Express, MSC Mediterranean Shipping Company (Qatar) W.L.L, Brian Kurtz Trucking Ltd, SF Express Co. Ltd, Spoton logistics, JADE TRANSPORT LTD, Trans-Nationwide Express, Om Logistics, Landstar System, Inc., Trans Sese SL, Dibiagi Transporte Internaciona, Rodovitor Transport and Vehicle Rental, Pronto Cargo, Galeon Logistics, Qatar Navigation (Milaha), Sagawa Express Co., Ltd, Old Dominion, Fox Brasil, Norte Brasil Logistica, Primafrio SL, McKevitt Trucking Limited, TFI International, Novatrade Brasil, Almas Movers International, GWC (Gulf Warehousing Company QPSC), S.C. PHARAON SPEED EXPRESS SRL, Gulf Agency Company - GAC Qatar, N&N Logistics Inc, Bin Yousef Cargo, E2E Qatar, GMC Logistics, KOS Deliveries, Ts Network Co., Ltd, Admiral Trucker Limited, BTXpress Universal Limited, Ekene Dili Chukwu Nigeria Limited, Konek Group
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What Is Covered In The Truck Transport Global Market Report?
• Market Size Forecast: Examine the truck transport market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the truck transport market for a structured understanding.
• Key Players Overview: Analyze major players in the truck transport market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the truck transport market.
• Segment Contributions: Evaluate how different segments drive overall growth in the truck transport market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the truck transport market.
• Industry Challenges: Identify potential risks and obstacles affecting the truck transport market.
• Competitive Landscape: Review strategic developments in the truck transport market, including expansions, agreements, and new product launches.
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