Press release
2025-2034 Forest Products Trucking Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Forest Products Trucking
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What Is the Expected CAGR for the Forest Products Trucking Market Through 2025?_x000D_
There has been a significant expansion in the forest products trucking market size lately. It is anticipated to escalate from $203.07 billion in 2024 to $219.15 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. The rise in the previous years is accredited to the growth of the timber industry, logging and lumber mills, demand for wood products, and infrastructure development._x000D_
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What's the Projected Size of the Global Forest Products Trucking Market by 2029?_x000D_
In the coming years, the forest products trucking sector is projected to experience substantial growth, ultimately reaching a market size of $293.06 billion in 2029 with a 7.5% Compound Annual Growth Rate (CAGR). Predicted growth in this period is driven by factors such as sustainable logging practices, environmental guidelines, technological innovations, biomass, and bioenergy. Some key trends to keep an eye on in this period are sustainability and certification, evolution of e-commerce and online marketplaces, initiatives to prevent timber theft and effective forest road management._x000D_
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Top Growth Drivers in the Forest Products Trucking Industry: What's Accelerating the Market? _x000D_
Increased construction operations are spurring the demand for the forest products trucking industry. These activities, which include the creation, revamping, or modification of structures like residential and commercial buildings and infrastructures, are increasing due to factors like population expansion, urbanization, and economic progression, all of which necessitate new construction. The forest products trucking industry lends a hand to these increasing construction operations by ensuring essential materials like lumber and plywood are transported promptly and efficiently to construction sites. For instance, the Office for National Statistics, a government department in the UK, reported that in November 2023, new construction activities had increased by £18,161 million ($19.96 million) in 2022, with private projects seeing a 16.8% growth and public sector projects increasing by 13.1%. Hence, the upward trend in construction operations is propelling the growth of the forest products trucking sector._x000D_
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What Trends Will Shape the Forest Products Trucking Market Through 2029 and Beyond?_x000D_
The forest products trucking market is facing a significant hurdle due to a shortage of truck drivers. Current data from the American Trucking Association's (ATA) estimates an existing deficit of 50,000 drivers in the USA, a number projected to escalate to 174,000 by 2026. Furthermore, a recent Canadian Press report revealed how this driver shortage caused Weyerhaeuser, an American-based timberland firm, a loss of between $10 million to $15 million in its fourth quarter. By 2024, it's foreseen that the average truck driver will be 50 years old, the shortage will range between 38,000 and 48,000, with an annual retirement rate exceeding 10,000 drivers. Consequently, the anticipated driver deficiency could restrict the expansion of the forest products trucking market._x000D_
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What Are the Main Segments in the Forest Products Trucking Market?_x000D_
The forest products trucking market covered in this report is segmented - _x000D_
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1) By Type: Log Transport, Chip Transport_x000D_
2) By Size: Heavy Trucks, Medium Trucks, Light Trucks _x000D_
3) By Applications: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Other Applications_x000D_
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Subsegments:_x000D_
1) By Log Transport: Roundwood Transport, Timber Transport_x000D_
2) By Chip Transport: Wood Chip Transport, Pulpwood Transport_x000D_
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Which Top Companies are Driving Growth in the Forest Products Trucking Market?_x000D_
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 _x000D_
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Which Regions Will Dominate the Forest Products Trucking Market Through 2029?_x000D_
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_x000D_
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2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning._x000D_
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks._x000D_
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."
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