Freight Trucking Market - Global Industry Size, Share, Growth, Trends and Forecast For 2024

Transparency Market Research’s new report on the global freight trucking market presents detailed insights into developments of the said market between 2016 and 2024. The report, titled “Freight Trucking Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” is a useful tool for the know-how of various factors that will influence the growth of this market during the aforementioned forecast period.

Freight trucking is of paramount importance in supply chain and transportation businesses. This is because effective freight trucking ensures proper communication between several business processes and helps them coalesce. Freight trucks are the nerve center of industrial activities as they carry raw materials from source to the manufacturing site. Freight trucks are also important for the transportation of finished goods from the manufacturing facility to distribution centers and further to local markets. The high-value benefits of efficient freight movement is acting as the major factor driving the freight trucking market. The incorporation of technology and effective communication medium is leading to the modernization of freight trucking services.

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Freight trucking largely depends on quality of service, reliable services, timely delivery, and logistics. The increasing demand for heavy vehicles such as trucks and trailers is also benefitting the freight trucking market. The adoption of modern technology in trucks such as GPS navigation systema and hydraulic lifters is also driving the freight trucking market. Moreover, safety aspect of freight operations, operational efficiency, and economical costs for freight trucks are also driving the market’s growth.

At present, Asia Pacific is one of the key markets for freight trucking. This is mainly due to infrastructural development and construction activities that requires transportation of goods and building material from one place to another. Freight trucks being equipped with modern technology such as automated doors and hydraulic lifters is further boosting the growth of this market. Hydraulic lifters enable easy loading and unloading of goods with less human effort. Automated doors work as vacuum lock to ensure safety of goods and prevent unauthorized personnel from receiving access to valuable items in the trucks.

In emerging countries such as India and China, increasing industrial productivity and increasing demand for heavy commercial vehicles to reduce transportation time without compromising on quality is also driving the freight trucking market.

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North America and Europe are expected to be significant markets for freight trucking due to recovery from the economic downturn of 2007.

Some of the key companies operating in the global freight trucking market include UPS, DSV, CEVA Logistics, SNCF Geodis, Kuehne+Nagel Inc., Desccartes System Group, DHL, JDA Software, Manhattan Associates, and DB Schenkerand.

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