The global Freight Trucking market size is anticipated to register a CAGR of ~5.9% between 2020 and 2026 and reach an approximate value of USD 4032 billion in 2026.
- In March 2021, Estes Forwarding Worldwide (EFW), a leading United States domestic and international freight forwarder specializing in custom logistics and warehousing solutions, announced the launch of “Get It There Faster,” an automated technology solution that delivers instant, expedited shipping options, shaving off transit days from standard LTL service.Built on an open API, EFW’s “Get It There Faster” boasts seamless connectivity and configurability with most transportation management systems, allowing expedited rates to instantly populate for any designated service level, transit time, or class.
- In March 2021, Balyo, a technological company involved in the design and development of innovative robotic solutions for material handling trucks, announced a new technology pilot program in collaboration with XPO Logistics’distribution centernear Blois, France.
In 2019, the MR Vehicle Type segment helda significant market share
The global Freight Trucking market has been segmented based on Vehicle Type, Cargo Type, End-Use, and region. Based on Vehicle Type, the global market is divided into Light Commercial Vehicles, Medium Commercial Vehicles, and Heavy Commercial Vehicles. The heavy commercial vehicles type segment is anticipated to hold a significant market share owing to growing construction and logistics activities across the globe.
Based on Cargo Type, the global Freight Trucking market is segmented into Dry Bulk, Liquid Bulk, and Refrigerated Products. The Dry Bulk segment accounted for a significantly large share in the global market owing to a rise in trade volume from one region to another.
Based on End Use, the global Freight Trucking market is segmented into Industrial & Manufacturing, Oil & Gas, Construction & Mining, Chemicals & Agri-Products, Food & Beverages, Healthcare, and Others. The industrial & manufacturing segment accounted for a significantly large share in the global market owing to fast-paced industrialization globally to meet the growing demands from end-use industries.
Based on region, the Freight trucking market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia Pacific dominated the Freight trucking market in recent years. The steadily evolving construction and mining industry have supported product growth in the region.
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Key industry participants in the Freight Trucking industry include Yellow Corporation (US), Estes Express Lines (US), XPO Logistics (US), CEVA Logistics (Switzerland), CMA CGM S.A (France), Kuehne + Nagel International AG (Germany), Nippon Express Co., Ltd. (Japan), Saia Inc. (US), SNCF group (France), ArcBest (US).
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global Freight Trucking market, including high-growth regions and/or countries and political and economic environments. The project report further provides both – historical market values and pricing and cost analysis.
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