Pune, India, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The global freight trucking market size is expected to emerge due to the rising demand for door-to-door transport facilities during the projected period. Fortune Business Insights™ publishes this information in an upcoming report titled, "Freight Trucking Market, 2021-2028". Freight trucking includes heavy-duty trucks for transporting goods and cargo to long distances. People are inclining towards home delivery services that raise the market's demand. Gradually rising import/export activities to distribute the goods globally are expected to drive the market in coming years.
Report Coverage:
The report for the Freight Trucking Market & Trucking Industry highlights detailed research on new advancements implemented in the industry to bolster market development and gain lucrative opportunities to improve service demands. New services and products introduced by key players in major countries are discussed further in this report to analyze the company's business development strategies. The competitors' number of products and services are assessed to understand the potential scope for developing market performance in emerging competition.
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Drivers & Restraints:
Growing Urbanization to Bolster Market Growth
The global freight trucking market growth is anticipated to develop because of the rising demands for home delivery services during the forecast period. Rising adoption towards e-commerce platforms is expected to improve product demand and utilization of transport services. Gradually developing urbanization is anticipated to stimulate market growth in the coming years. Improving transportation capacity and technological advancements will likely improve product performance and increase service demand. In contrast, high costs and government regulations are likely to restrict the market growth during the forecast period.
Segments:
- By type, the market is divided into a flatbed truck, refrigerated truck, truck trailer, and lorry truck.
- On the basis of end-user, the market is segregated into food & beverages, pharmaceuticals & healthcare, defense, chemicals, energy & mining, industrial & manufacturing, and oil & gas.
- Based on the distance covered, the market is segmented into 50 miles or less, 51-100 miles, 101-200 miles, 201-500 miles, and above 501 miles.
- By cargo type, the market is categorized into oil & diesel, dry bulk goods, postal, and others.
- Finally, by geography, the market is separated into North America, Asia Pacific, Europe, and the Rest of the World.
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Regional Insights:
Asia Pacific to Dominate Market Due to Increasing Import/Export Activities
Asia Pacific is estimated to hold the most prominent global Freight Trucking Market & Trucking Industry share during the projected period. Rapidly growing industrialization in emerging countries is expected to drive the market. Increasing import/export practices in emerging economies allows it to expand its global reach. The growing presence and usage of online shopping and door-to-door services are anticipated to maintain dominance in the market.
North America is anticipated to improve its global share during the projected period as trucking is the most commonly used transportation service in the region to deliver cargo, goods, commodities, and services. The presence of major key players and technological developments are anticipated to improve the market performance.
COVID-19 Impact:
Restrictions on Transport Services to Hinder Market Growth
Restrictions imposed by the government due to rapid virus spread restrict the market growth. The red alert regions have halted manufacturing and production industries, affecting industrial transportation services globally. Import and export activities were delayed for longer in highly affected countries, and businesses were affected due to a lack of transportation services. These restrictions and regulations slowed market growth during the pandemic period.
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Geographic Segment Covered in the Report:
The report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
Competitive Landscape:
Key Players Launch New Services to Maintain Market Position
Key players plan to launch a new product range and services to improve performance. Creating strategic alliances and partnerships allows businesses to enhance their performance by acquiring global market share. These strategies enable key players to develop business reach and ensure high productivity.
List of Key Players Profiled in the Global Market for Freight Trucking:
- Canadian National (Canada)
- P. Moller Maersk (Denmark)
- CEVA Logistics (France)
- CMA CGM (France)
- DHL Paket GmbH (Germany)
- Deutsche Post (Germany)
- Estes Express Lines (U.S.)
- FedEx Corporation (U.S.)
- Nippon Express Co. Ltd. (Japan)
- Saia Motor Freight Line (U.S.)
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