According to Precision Business Insights (PBI), latest report the global freight trucking market is expected to be worth USD 1,902.4 billion in 2022, growing at a 6.3% CAGR from 2022 to 2028.
According to Precision Business Insights (PBI), latest report the global freight trucking market is expected to be worth USD 1,902.4 billion in 2022, growing at a 6.3% CAGR from 2022 to 2028. Rapid growth in E-commerce industry due to increase in internet penetration and smartphone adoption rate in developed and developing countries coupled with expansion of services by the market players for speed delivery are burgeon the growth of freight trucing market. Moreover, advancements in the logistics industry, grow in construction industry, and rise in per capita income fuel the growth of market over the forecast years. In addition, acquisitions and collaborations between the market players also immense boost to the market over the forecast timeframe. For instance, In February 2022, A.P. Moller Maersk acquired Pilot Freight Services (Pilot) to extend its integrated logistics offering deeper into the supply chain of its customers
Cargo Segment is Dominate the Freight Trucking Market:
The Cargo segment is expected to account for larger revenue share in global freight trucking market and projected to grow at significant CAGR over 2022 and 2028. Cargo transportation is rapidly growing due to players are launching a cost-effective cargo transportation management system that enables not only large but also small and local firms to compete effectively on the global stage. Moreover, rise in construction sector and the rapid industrialization are expected to boost the cargo transportation market over the projected period. Furthermore, the demand for products and commodities has been spurred by the fast growth of transportation infrastructure across the world due to urbanization and technological advances over the last decade.
North America Leads Freight Trucking Market:
North America is expected to hold largest market share in the global freight trucking market over the forecast period, and it is projected to grow at a double digit growth rate in the coming years. Increased consumer demand, a wide transportation network, and technological advancements, favorable regulations and rise in GDP are some of the factors influencing the market growth . Moreover, the presence of well-established transportation infrastructure in the developed countries of North America is expected to boost the market growth over the forecasting period
Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players :
Global Freight Trucking Market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance,
The freight trucking market detailed segmentation Based on the Cargo Type
Based on the Type
Based on the Product:
Based on End-User Industry:
Based on Geography:
Key player's profiles in the freight trucking devices market report are A.P.Moller Maersk, Canadian National, CEVA Logistics, CMA CGM, DB SCHENKER, Deutsche Post, DHL Paket GmbH, Estes Express Lines, FedEx Corporation, Kuehne + Nagel, Nippon Express Co., Ltd., R+L Carriers, Saia Motor Freight Line, SNCF Geodis, Swift Transportation, TNT Holding B.V., UPS Freight, XPO Logistics, Yamato Holdings Co., Ltd., YRC Worldwide Inc.
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