Press release
Forest Products Trucking Market Size Forecasted To Achieve $293.06 Billion By 2029 With Steady Growth
Forest Products Trucking
What Is the Forest Products Trucking Market Size and Projected Growth Rate?
The forest products trucking market has shown strong growth in recent years. It will increase from $203.07 billion in 2024 to $219.15 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. This growth is driven by the expansion of the timber industry, logging and lumber mills, rising wood product demand, and infrastructure development.
The forest products trucking market is expected to expand strongly, hitting $293.06 billion in 2029 at a CAGR of 7.5%. Growth is influenced by eco-friendly logging, tightening regulations, tech integration, and the growth of biomass and bioenergy. Leading trends include sustainable certification, e-commerce logistics, preventing timber theft, and improved forest transport infrastructure.
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What Are the Major Segments in the Forest Products Trucking Market?
The forest products trucking market covered in this report is segmented -
1) By Type: Log Transport, Chip Transport
2) By Size: Heavy Trucks, Medium Trucks, Light Trucks
3) By Applications: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Other Applications
Subsegments:
1) By Log Transport: Roundwood Transport, Timber Transport
2) By Chip Transport: Wood Chip Transport, Pulpwood Transport
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What Are The Driving Forest Products Trucking Market Evolution?
The rising construction activities are fueling the demand for the forest products trucking market. The growth in construction is driven by factors such as urbanization, population growth, and economic development, all of which contribute to the need for new buildings and infrastructure. The Office for National Statistics in November 2023 reported an £18.16 billion increase in construction activities in 2022. This rising construction activity is driving the growth of the forest products trucking market.
Which Firms Dominate The Forest Products Trucking Market Segments?
Major companies operating in the forest products trucking market include Good Logistics, Timber Products Company, Fr. Meyer's Sohn (GmbH & Co.) KG, JB Hunt Transport Services Inc., Knight Transportation, CRST International, Leavitt's Freight Service, Anderson Trucking Service Inc., Mercer Transportation, Prime Inc., Roadrunner Transportation Systems, ArcBest Corporation, XPO Inc., C.H. Robinson Worldwide Inc., Coyote Logistics, Echo Global Logistics Inc., Landstar System Inc., Schneider National Inc., Swift Transportation, Werner Enterprises Inc., Yellow Corporation, Old Dominion Freight Line Inc., Saia Inc., Estes Express Lines, ABF Freight System Inc., FedEx Corporation, TForce Freight
What Trends Are Driving Growth in The Forest Products Trucking Market?
The forest products trucking market is facing a shortage of truck drivers, which is expected to worsen in the coming years. The American Trucking Association estimates a shortage of 50,000 drivers, which could rise to 174,000 by 2026. Additionally, a report from the Canadian Press highlighted that Weyerhaeuser, a US timber company, lost up to $15 million in the fourth quarter due to the shortage. As more truck drivers retire each year, the lack of qualified drivers is hindering the growth of the market.
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Which Is The Largest Region In The Forest Products Trucking Market?
The countries covered in the forest products trucking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Forest Products Trucking Market?
2. What is the CAGR expected in the Forest Products Trucking Market?
3. What Are the Key Innovations Transforming the Forest Products Trucking Industry?
4. Which Region Is Leading the Forest Products Trucking Market?
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