The global Freight Trucking market is anticipated to grow at a significant CAGR of 5.3% during the forecast period. One of the primary factors contributing towards the growth of the market is the growing culture of online shopping. As per the U.S. Bureau of the Census retrieved from FRED, Federal Reserve Bank of St. Louis, the e-commerce retail sales of U.S. has been increasing consistently, and it had 13% of retail sales’ market at the time of 3rd quarter of 2021, which was around 13.8% in the 3rd quarter of 2020 and 10.9% in the 3rd quarter of 2019. Additionally, rapid expansion of fast-moving consumer products is also acting as anthore factor that is supporting the growth of the market.
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The COVID-19 pandemic had disrupted the freight trucking market. The lockdown across the globe, to prevent the spread of the virus and to reduce casualties, had stopped most of the transportations. It resulted in the non-availability of cargo for return trips. Thus, the various market players in the freight trucking market were impacted heavily due to the lockdown. However, the companies involved in the delivery of essential goods and services via freight trucking are anticipated to grow as the lockdown restrictions are lifted.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Freight Trucking Market Report Segment
By Vehicle Type
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Cargo Type
- Dry Bulk
- Liquid Bulk
- Refrigerated Products
By End-User
- Industrial Manufacturing
- Oil & Gas industries
- Construction & Mining industries
- Others (Chemical Industries, Agriculture Industries, and Food & Beverages Industries)
Global Freight Trucking Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global freight trucking market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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