Press release
Global General Freight Trucking Market Size, Share, and Forecast Analysis 2025-2029
General Freight Trucking
What Are the General Freight Trucking Market Size Forecast for 2025?
There has been a significant growth in the size of the general freight trucking market in the past few years. The market size is projected to increase from $979.63 billion in 2024 to $1069.84 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.2%. The amplified growth during the historic period can be credited to the surge in oil and gas exports, the growing government backing, and the expansion in the healthcare industry.
What Is the Market Size Outlook for General Freight Trucking Until 2029?
Over the coming years, we anticipate a significant increase in the general freight trucking market, which is predicted to reach a value of $1539.17 billion in 2029 with a compound annual growth rate (CAGR) of 9.5%. Factors contributing to this growth during the forecast period include an increase in e-commerce sales, a surge in demand for food products and raw materials from the manufacturing sector, and rapid urbanization. The forecast period also sees some major trends including truck platooning for cost-effective operations, the application of artificial intelligence (AI) in trucks, the incorporation of IoT (internet of things) in trucks, the use of fleet management software, and the formation of strategic alliances and collaborations.
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What Are the Major Factors Driving Demand in the General Freight Trucking Market?
The surge in urbanization is predicted to fuel the expansion of the general freight trucking market in the future. This rise in urbanization is triggered by aspects such as economic possibilities, industrialisation, enhanced access to education and healthcare, and improved infrastructure in urban regions. Urbanization is defined as the escalating concentration of populations in urban locales, which includes the development of cities and towns accompanied by social, economic and infrastructural alterations. With swift urbanization, the requirement for general freight trucking escalates since more merchandise needs to be transported effectively to and within enlarging cities. For example, in January 2022, as per the United States Department of Commerce, a US-based executive department, the population in the US was recorded as 332,403,650 in 2022, marking a rise of 0.21% in population from 2021. Consequently, the surge in urbanization is propelling the expansion of the general freight trucking market in the future.
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How Are End-Use Segments Shaping the General Freight Trucking Market Outlook?
The general freight trucking market covered in this report is segmented -
1) By Type: Local General Freight Trucking, Long-Distance General Freight Trucking
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 Local General Freight Trucking: Same-Day Delivery Services, Short-Haul Trucking, Last-Mile Delivery, Distribution Services
2) By Long-Distance General Freight Trucking: Full Truckload (FTL) Services, Less Than Truckload (LTL) Services, Intermodal Transportation, Dedicated Freight Services
What Are the Strategic Trends Transforming the General Freight Trucking Market Landscape?
Key players in the general freight trucking market are forging alliances to establish fresh collaborations where multiple firms oversee general freight trucking services. Such business collaborations involve a formal agreement between two or more entities to manage a business and share its profits and risks. For instance, in March 2023, Uber Freight, a US firm that handles freight and delivery management, struck a deal with WattEV. This partnership enables WattEV to offer its electric trucks to Uber Freight's shipping clients, advancing efficient and green freight transportation. The collaboration also includes CHEP, a supply chain solutions company, as a strategic ally in this effort. WattEV, a US firm, offers service with electric trucks. More so, in May 2022, Aurora Innovation Inc., a firm in the U.S. specializing in autonomous vehicle technology, expanded its autonomous freight pilot scheme in partnership with FedEx Corporation. This partnership is aimed at augmenting Aurora Innovation Inc.'s operational efficiency and meeting the surging need for efficient freight transportation. This move is part of a larger plan to incorporate autonomous technology into logistics, aiming to boost safety, effectiveness, and dependability in the trucking sector. FedEx Corporation is a US transport company that provides freight shipping services with trucks.
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Who Are the Prominent Companies in the General Freight Trucking Market by ?
Major companies operating in the general freight trucking market include United Parcel Service, Inc, Deutsche Post AG, FedEx Corporation, C.H. Robinson Worldwide, Inc, J.B. Hunt Transport Services, XPO Logistics, Inc., Ceva Logistics AG, Landstar System, Inc, A.P. Moller - Maersk, Standard Vulcanizers, Freight Mart Logistics, Prime Transport Corporation, OM Logsitcs Limited, Wellfield Services Limitada, Doyun Logistics Co., Ltd., GKR Transport, Australian Container Freight Services, Jiangsu Kunyue Logistics Co Ltd, Kunshan Yunda Express Co Ltd, Changsha Sitong Moving Transport Co Ltd, Ningbo Jinxing Logistics Co Ltd, Simco Trans GmbH, Shanghai Ruiqiang Logistics Co Ltd, Sichuan Wangcang County Transport Co Ltd, Beijing Keyun Logistics Co Ltd, TNT Expressare, InstaFreight GmbH, Haberling, Smart Move Facilities Services Inc, Kahmen TransCargo GmbH, House of Logistics and Mobility, AW Transport & Logistics GmbH, Livchem Logistics GmbH, DHL Express, Transportes Della Volpe Sa Comercio E Industria, Spice Logistics Private Limited, Pavages J.M. Beaulieu Inc, Les, Spares, 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., Harper Investments, Inc., Pemex Logística, E.P.S., Frialsa Frigoríficos, S.A. de C.V., Bravo Servicos Logisticos Ltda, Ic Transportes Ltda, Tri Star Transport, Transportes Transvidal Ltda, Liderbras Logistica E Transportes Ltda, Xiamen C&D, Oilmar Shipping and Chartering DMCC, UB Freight Australia Pty LTD, International Marine & Energy DMCC, Bin Jaraa General Transporting, Contracting & General Maintenance Company, Tianjin Jinshi Wukuang International Logistics Co Ltd, Reinhardt Transport (Pty) Ltd, The National Coal Supply Corporation LTD, Alpha Omega International Trading Cc, Autocarrier Transport, Fpt Group (Pty) Ltd, Super Group Freight, Atteridgeville Bus Service (Pty) Ltd
Which Region Is Expected to See the Highest CAGR in the General Freight Trucking Market?
Asia-Pacific was the largest region in the general freight trucking market in 2024. North America was the second largest region in the general freight trucking market. The regions covered in the general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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