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Freight Trucking Market - Top Vendors(Descartes System Group, DSV, DHL, CEVA Logistics, JDA Software)
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Quality of service, reliability and timely delivery of goods along with proper freight management and logistics handling are the key factors on which the service of the freight trucks depends. There is a substantial growth in demand for heavy vehicles including trucks and trailers which acts as a driver for the freight trucking market. Moreover, adoption of latest technology in trucks such as use of hydraulics lifters and GPS navigation systems also drives the market for freight trucking. Moreover, safety in freight operations, reduction in cost and operational efficiency also increase the demand for freight trucks and thus drive the market.
Freight Trucking Market: Region-wise Insight
Asia-Pacific is the most attractive region for freight trucking market. Increase in infrastructural activities in the Asia-pacific region is mainly driving the freight trucking market as infrastructural development and construction activities requires transportation of equipments and goods from one place to another. In addition, the adoption of latest technology i.e. hydraulics lifters and automated doors used in freight trucks further also drives the freight trucking market in this region. Hydraulics lifters facilitate easy loading of goods in the freight trucks with less human effort. Automated doors act as a vacuum lock ensuring safety of goods and prevent unauthorized access to the valuable items in the trucks.
Thus, increase in productivity and less time consumption without compromising on cost drives the market. Escalating demand of HCV (heavy commercial vehicle) in the emerging countries like India and China is also driving the freight trucking market. The North America and Europe market for freight trucking is expected to grow at a steady pace over the forecast period. Steady recovery from the recent economic meltdown is responsible for the growth of business activities and manufacturing operations in North America which is driving the market for freight trucking in the region.
Presence of premium truck manufacturers such as Mercedes Benz, DAF, Volvo and Renault is driving the freight trucking market in Europe. The freight trucking market in Europe is mainly driven by quality of service and timely delivery. Thus the market is expected to continue its growth at a steady pace over the forecast period. Europe market faced steep challenge in the recent economic meltdown and is recovering at a steady pace which also in turn increased the demand for freight trucking market due to increase in industrial activities.
Freight Trucking Market: Key Players
Global key participants in the industry include UPS, Descartes System Group, DSV, DHL, CEVA Logistics, JDA Software, SNCF Geodis, Manhattan Associates, Kuehne+Nagel Inc, and DB Schenkerand.
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