Press release
Local General Freight Trucking: Market Analysis and Forecast
Local General Freight Trucking
The local general freight trucking market size is expected to see marginal growth in the next few years. It will grow to $144.45 billion in 2028 at a compound annual growth rate (CAGR) of 1.9%. The growth in the forecast period can be attributed to growing e-commerce sales, rising urbanization and rising demand for raw materials from the manufacturing industries. Major trends in the forecast period include use of artificial intelligence (ai), focus on internet of things (iot), mergers and acquisitions, increasing investments, partnerships and collaborations.
Market Overview -
Local general freight trucking refers to modes of transportation that use trucks and vans to deliver a wide variety of commodities in local metropolitan areas, generally palletized and transported in a container or van trailer to deliver goods for both domestic and commercial purposes and used for short distances.
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E-Commerce Sales Fueling Growth In Local General Freight Trucking Market
The increase in e-commerce sales is expected to fuel the growth of the local freight trucking market in the forecast period. E-Commerce refers to the purchase and sale of products and services on the Internet. The e-commerce industry relies on trucking to move its items from one location to another, which impacts the trucking industry directly. For instance, in September 2022, according to the International Trade Administration, a US-based Department of Commerce, consumer e-commerce now makes up 30% of the UK's overall retail sector (up from 20% in 2020), with an annual e-commerce revenue of more than $120 billion. In 2021, 82% of people in the UK will have made at least one online purchase. The increase in e-commerce sales increases the demand to transport the goods and thereby drives the growth of the local freight trucking market.
Competitive Landscape -
Major companies operating in the local general freight trucking market report are FedEx Corporation, Deutsche Post DHL Group, Yellow Corporation, C.H. Robinson Worldwide Inc, Old Dominion Freight Line Inc., XPO Logistics Inc., Landstar System Inc, Knight Swift Transportation Holdings Inc., Schneider National, Inc., JB Hunt Transport Services Inc, Luzhou Litong Industry Co., Ltd, Yibin Dahuang Logistics Co., Ltd, Infinity Cargo Logistics (China) Limited, YAMATO TRANSPORT CO., LTD, Nippon Express Company, Ltd, Yamato Transport, Coupang Fulfillment Services Ltd, DONGWON LOEX Co., Ltd, Federal Express Corporation, Oocl Uk Branch, Royal Mail Group Limited, Gxo Logistics Uk Limited, Dhl Freight Gmbh, DHL Express, TNT Expressare and Spares , Van der Vlist Russia, Logistics Ekol Romania, Frigoexpres , S.C. PHARAON SPEED EXPRESS SRL, Pavages J.M. Beaulieu Inc Les, Smart Move Facilities Services Inc, Blackmine Outfitters Trucking Ltd, J & S Services Inc, R & C Weare Logging Ltd, N. W. White & Company, Bayshore Transportation System Inc, Benny Whitehead Inc , Koleaseco Inc, Nippon Express, Rodovitor Transport and Vehicle Rental, Yusen Logistics, Fox Brasil, Panalpina , Maxitrans, Forward Movers, Creek General Transport, Prime Transport LLC, Haulier refrigerated & Chiller Van Transport Dubai , Ardh Al Madina Group, Alpha Omega International Trading Cc, Autocarrier Transport, Fpt Group (Pty) Ltd, Standard Vulcanizers , Atteridgeville Bus Service (Pty) Ltd
Adoption Of IOT Revolutionizes The Local General Freight Trucking Market
The integration of the Internet of Things (IoT) into the transportation sector is a key trend gaining popularity in the local general freight trucking market. The IoT is expected to change the transport sector by gathering data and vital information from market and technology developments related to data analytics and automation of mobility and will provide benefits in fleet management and location tracking. Companies around the world are finding more and more interesting ways to take advantage of the Internet of Things for greater productivity and efficiency. For instance, Kuehne + Nagel, a Swiss-based transport and logistics company, uses IoT for freight monitoring, which helps to warn about temperature, humidity, pressure, shock, and tilt at the parcel level.
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Key Segments -
The local general freight trucking market covered in this report is segmented -
1) By Type: Truckload Transportation, Less-Than-Truckload Transportation, Intermodal Transportation, Dry-Bulk Transportation, Other Types
2) By Size: Heavy Trucks, Medium Trucks, Light Trucks
3) By Application: Oil And Gas, Industrial And Manufacturing, Energy And Mining, Food And Beverages, Pharmaceuticals And Healthcare, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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