Freight Trucking Market Growth, Share, Analysis, Company Profiles and Forecast by 2031 - Knight-Swift Transportation Holdings Inc., XPO Logistics
Rise in use of telematics in automotive sector, expansion of the e-commerce industry, and surge in urbanization have boosted the growth of the global ๐ ๐ซ๐๐ข๐ ๐ก๐ญ ๐๐ซ๐ฎ๐๐ค๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ. The global freight trucking market was valued at $2,732 billion in 2021, and is projected to reach $4,457.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/A07132
Asia-Pacific is expected to dominate the global freight trucking market in 2021. The growth of the market in Asia-Pacific is majorly attributed to the booming e-commerce industry in emerging economies in the region. High government support for development of logistics infrastructure in the region is boosting the market growth. China has the largest logistics industry in the region due to the presence of huge population base in the country and large manufacturing base. In addition, expansion of the e-commerce industry throughout Asia-Pacific region is expected to propel the growth of market during the forecast period.
The growth of the global freight trucking market is propelling, due to increase in use of telematics in automotive sector, expansion of e-commerce industry globally, and rise in urbanization. However, poor infrastructure and higher logistics costs are hampering the growth of the market. Furthermore, development of self-driving trucks is the factor expected to offer growth opportunities during the forecast period.
The report segments the global freight trucking market on the basis of truck type, cargo type, end-user, and region.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/freight-trucking-market/purchase-options
Based on end-user, the retail and e-commerce segment is estimated to register the highest CAGR of 6.5% during the forecast period. However, the others segment held the largest share in 2021, accounting for around one-third of the market.
Tank truck utilizes cylinder-shaped containers for the movement of oil or diesel fuel. These trucks can carry between 10,000-45,000 liters of fuel from refineries or storage facilities to the pumps at a gas station. In addition, tank trucks can also carry other types of processed oil such as jet fuels for airport. Moreover, in tank trucks, the fuel is separated into many components, therefore it can carry different types of fuel to a service station in a single trip. Furthermore, few companies are awarding contracts to truck body manufacturing companies to provide truck body and parts which can be used for the bulk mail delivery, fuels the growth of the segment.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The global freight trucking market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2021, holding more than two-fifths of the market. In addition, the region is projected to showcase the highest CAGR of 6.3% during the forecast period.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A07132
Based on truck type, the refrigerated truck segment is expected to portray the highest CAGR of 6.8% during the forecast period. However, the dry van & box truck segment held the largest share in 2021, contributing to around one-third of the market.
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐
By truck type, the refrigerated truck segment is anticipated to exhibit significant growth in the near future.
By cargo type, the temperature controlled goods segment is anticipated to exhibit significant growth in the near future.
By end-user, the retail and e-commerce segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Freight forwarding Market - https://www.prnewswire.com/news-releases/freight-forwarding-market-to-reach-285-15-billion-globally-by-2031-at-4-1-cagr-allied-market-research-301596949.html
Courier, Express, and Parcel (CEP) Market - https://www.globenewswire.com/en/news-release/2022/12/05/2567058/0/en/Courier-Express-and-Parcel-CEP-Market-to-Reach-749-Billion-by-2031-Allied-Market-Research.html
Dropshipping Market - https://www.prnewswire.com/news-releases/dropshipping-market-to-reach-1-670-1-billion-globally-by-2031-at-27-1-cagr-allied-market-research-301670255.html
Third-party Logistics (3PL) Market - https://www.prnewswire.com/news-releases/third-party-logistics-3pl-market-to-reach-1-789-94-bn-globally-by-2027-at-7-1-cagr-allied-market-research-301097691.html
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