Press release
Local General Freight Trucking Market Size Projected To Reach $147.35 Billion By 2034 With A Cagr Of 2%
Local General Freight Trucking
What Is the Projected Growth of the Local General Freight Trucking Market?
The size of the local general freight trucking market has seen slight expansion over the past few years. It is projected to increase from $134.29 billion in 2024, to $136.39 billion in 2025, experiencing a compound annual growth rate (CAGR) of 1.6%. The historical growth is attributable to the economic development of emerging markets, the expansion in the building and construction sector, and an increase in disposable income.
The general freight trucking market, in a local setting, is projected to witness slight expansion in the coming years, rising to a valuation of $147.35 billion in 2029 with a compound annual growth rate (CAGR) of 2.0%. The imminent upturn during the predicted period can be credited to escalating e-commerce transactions, increasing urbanization, and a surging need for raw materials by manufacturing sectors. The upcoming periods will likely see dominant trends such as the incorporation of artificial intelligence (AI), a focus on the internet of things (IoT), as well as mergers and takeovers, amplified investments, and cooperative partnerships.
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What Are the Different Local General Freight Trucking Market Segments?
The local general freight trucking market covered in this report is segmented -
1) By Type: Truckload Transportation, Less-Than-Truckload Transportation, Intermodal Transportation, Dry-Bulk Transportation, Other Types
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
Subsegments:
1) By Truckload Transportation (TL): Full Truckload Services, Dedicated Freight Services, Regional Truckload Services
2) By Less-Than-Truckload Transportation (LTL): Consolidated Freight Services, Multi-Stop Deliveries, Time-Sensitive LTL Services
3) By Intermodal Transportation: Truck-Rail Intermodal Services, Truck-Water Intermodal Services, Integrated Intermodal Solutions
4) By Dry-Bulk Transportation: Transportation Of Dry Bulk Commodities, Specialized Bulk Tankers, Bulk Material Handling Services
5) By Other Types: Specialized Freight Transportation, Temperature-Controlled Trucking Services, Expedited Freight Services
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What Are the Primary Drivers Shaping the Local General Freight Trucking Market?
The ongoing rise in online sales is predicted to drive the expansion of the local freight trucking industry in the coming years. E-commerce activities, involving buying and selling goods and services online, depend significantly on trucking services for the movement of these goods, directly influencing the trucking sector. For instance, data from the European Commission, a Belgium-based regulatory body responsible for executing decisions and maintaining EU treaties, showed in April 2024, that 92% of individuals aged 16-74 surveyed had used the internet in the past year, and 70% of them made purchases online. This represented a 2% increase from 2022. Furthermore, in 2023, 75% of EU residents who use the internet engaged in online shopping, underscoring the ongoing expansion of the e-commerce sector. The surge in online sales escalates the need for transportation services, therefore fueling the growth of the local freight trucking industry.
Which Companies Are Leading in the Local General Freight Trucking Market?
Major companies operating in the local general freight trucking market include FedEx Corporation, Deutsche Post DHL Group, Yellow Corporation, C.H. Robinson Worldwide Inc, Old Dominion Freight Line Inc., XPO Logistics Inc., Landstar System Inc, Knight Swift Transportation Holdings Inc., Schneider National, Inc., JB Hunt Transport Services Inc, Luzhou Litong Industry Co., Ltd, Yibin Dahuang Logistics Co., Ltd, Infinity Cargo Logistics (China) Limited, YAMATO TRANSPORT CO., LTD, Nippon Express Company, Ltd, Yamato Transport, Coupang Fulfillment Services Ltd, DONGWON LOEX Co., Ltd, Federal Express Corporation, Oocl Uk Branch, Royal Mail Group Limited, Gxo Logistics Uk Limited, Dhl Freight Gmbh, DHL Express, TNT Expressare and Spares, Van der Vlist Russia, Logistics Ekol Romania, Frigoexpres, S.C. PHARAON SPEED EXPRESS SRL, Pavages J.M. Beaulieu Inc Les, Smart Move Facilities Services Inc, 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, Nippon Express, Rodovitor Transport and Vehicle Rental, Yusen Logistics, Fox Brasil, Panalpina, Maxitrans, Forward Movers, Creek General Transport, Prime Transport LLC, Haulier refrigerated & Chiller Van Transport Dubai, Ardh Al Madina Group, Alpha Omega International Trading Cc, Autocarrier Transport, Fpt Group (Pty) Ltd, Standard Vulcanizers, Atteridgeville Bus Service (Pty) Ltd
What Trends Are Expected to Dominate the Local General Freight Trucking Market in the Next 5 Years?
One significant trend gaining traction in the local general freight trucking market is the integration of the Internet of Things (IoT) into the transportation industry. The IoT will likely revolutionize the transportation sector by collecting essential data and information from market developments and technology related to data analytics and mobility automation, benefiting fleet management and location tracking. Businesses worldwide are discovering increasingly innovative methods to harness the power of the IoT to boost productivity and efficiency. For example, Swiss transport and logistics company Kuehne + Nagel employs IoT for freight monitoring, providing warnings regarding temperature, humidity, pressure, shock, and tilt at the parcel level.
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What Are the Top Revenue-Generating Geographies in the Local General Freight Trucking Market?
Asia-Pacific was the largest region in the local general freight trucking market in 2024. North America was the second largest region in the local general freight trucking market share. The regions covered in the local general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Local General Freight Trucking Market?
2. What is the CAGR expected in the Local General Freight Trucking Market?
3. What Are the Key Innovations Transforming the Local General Freight Trucking Industry?
4. Which Region Is Leading the Local General Freight Trucking Market?
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