Long-Distance General Freight Trucking Market Growth to be Driven by Emerging Trends | $1363.24 Billion by 2029

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What is the Projected Market Size of the Long-Distance General Freight Trucking Industry?
The market size for long-distance general freight trucking has seen potent growth in the past few years. The market is forecasted to grow from $843.21 billion in 2024 to approximately $927 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.9%. The growth experienced during the historic period can be linked to the expansion of long-distance general freight trucking, the rise of e-commerce, a lack of skilled truck drivers, intense competition, and robust economic growth in emerging markets.

What Will Be the Size of the Long-Distance General Freight Trucking Market by 2029?
In the forthcoming years, the market size of long-distance general freight trucking is projected to experience substantial growth, reaching $1363.24 billion by 2029 with a compound annual growth rate (CAGR) of 10.1%. This expansion throughout the forecast period can be associated with the escalating demand for cost-effective and efficient transportation, an increased emphasis on sustainability and carbon emissions reduction, burgeoning urbanization, and a surge in demand for raw materials from manufacturing sectors as well as an increase in oil and gas exports. Upcoming trends within the forecast period include the rising prevalence of tractor-trailer combinations, a gradual transition towards more local truck drivers, application of Internet of Things (IoT) in trucks, efficient and cost-effective truck platooning, and the incorporation of artificial intelligence (AI).

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What Are the Strategic Drivers Boosting Long-Distance General Freight Trucking Market Performance?
The long-distance general freight trucking market is poised to grow due to the expected rise in manufacturing output across various sectors. Higher manufacturing output necessitates increased trucking for transporting goods from one location to another. Take for example the data for January 2023 provided by Tesla Inc., an American automotive and clean energy company. In 2022, Tesla's vehicle production exceeded 439,000, of which over 405,000 were successfully delivered. This represented a 40% year-on-year surge in vehicle deliveries, catapulting the total to 1.31 million. Production figures likewise saw a significant boost, with a year-on-year increase of 47%, bringing the total to 1.37 million vehicles. Therefore, the uptick in manufacturing output, leading to more freight transportation via trucking, is fueling the expansion of the long-distance general freight trucking market.

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How Is the Long-Distance General Freight Trucking Market Segmented by Type, Application, and Region?
The long-distance general freight trucking market covered in this report is segmented -

1) By Services: Truckload Carriers, Less-than-truckload Carriers, Other Transportation Services
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

Sub-Segments:
1) By Truckload Carriers: Full Truckload (FTL) Services, Dedicated Truckload Services
2) By Less-than-truckload Carriers: Standard LTL Services, Expedited LTL Services, Temperature-sensitive LTL Services
3) By Other Transportation Services: Intermodal Freight Transportation, Specialized Freight Transportation, Freight Brokerage Services

What Are the Key Trends Driving Growth in the Long-Distance General Freight Trucking Market?
The long-distance general freight trucking market is experiencing a surge in the usage of electric trucks, which is anticipated to enhance the growth of the market. A large number of retailers and carriers are buying sizable orders of electric trucks for beverage routes and final delivery stages. As an example, in September 2020, Lion Electric sold 10 electric trucks to Amazon, who also placed orders for 100,000 electric delivery vans from the start-up, Rivian. Deliveries for these orders are scheduled from 2021 to 2024.

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Who Are the Leading Companies Driving Growth in the Long-Distance General Freight Trucking Market?
Major companies operating in the long-distance general freight trucking market include XPO Inc., YRC Worldwide Inc., FedEx Corporation, JB Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Old Dominion Freight Line Inc., Joe's Logistics Inc., Universal Truckload Holdings Inc., Reynolds Logistics Inc., Carolina Cargo Freight Expediters LLC, Spirit Truck Lines Inc., Kivi Bros Trucking Inc., Mangino Holding Corporation, Duncan and Son Lines Inc., GFA Alabama Inc., C&S Wholesale Grocers, Kenan Advantage Group Inc., Universal Logistics Holdings Inc., Ceva Logistics Us Holdings Inc., Lynden Air Cargo, Hub Group Inc., Aaa Cooper Transportation, Charlotte Truck Center Inc., Estes Express Lines, TForce Freight, ABF Freight System Inc., R+L Carriers Inc., Saia Motor Freight Line LLC, Central Transport International Inc., Oak Harbor Freight Lines Inc., Daylight Transport, New Penn Motor Express LLC, New England Motor Freight Inc., A. Duie Pyle Inc., USF Reddaway Inc., Roadrunner Transportation, Pitt Ohio Transportation Group, Dayton Freight Lines Inc., Forward Air Corporation, Averitt Express, Southeastern Freight Lines

Which Is the Leading Region in the Global Long-Distance General Freight Trucking Market?
Asia-Pacific was the largest region in the long-distance general freight trucking market in 2024. North America was the second largest region in the long-distance general freight trucking market. The regions covered in the long-distance general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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