What is the Historic and Current Scenario of the General Freight Trucking Market?
The general freight trucking market has seen considerable growth due to a variety of factors.
• The overall market size of general freight trucking has seen robust growth over the past few years. It is predicted to rise from $1074.69 billion in 2024 to $1181.82 billion in 2025, with a compound annual growth rate (CAGR) of 10.0%.
The historic period's growth can be credited to the rise in oil and gas exports, increased government backing, and expansion in the healthcare sector.
What are the Forecasted Growth and Key Factors of the General Freight Trucking Market?
The general freight trucking market is expected to maintain its strong growth trajectory in upcoming years.
• Sizable growth is projected for the general freight trucking market over the upcoming years, with expectations of reaching $1662.2 billion by 2029, reflecting a compound annual growth rate (CAGR) of 8.9%.
The growth anticipated in this period can be linked to an increase in e-commerce sales, surging demand for food items, growing necessity for raw materials in manufacturing sectors, and escalating urbanization. Key trends to watch throughout this forecast period involve truck platooning for better and cost-effective operations, incorporation of artificial intelligence (AI) in trucks, application of IoT (Internet of Things) in trucks, utilization of fleet management software, and the crafting of strategic alliances and collaborations.
What Are The Primary Growth Drivers In The General Freight Trucking Market?
As urban areas continue to grow and expand, it is foreseen that the general freight trucking market will also experience significant growth. This increase in urbanization is fueled by a variety of factors including increased industrial opportunities, better educational and healthcare infrastructure, and widespread improvement in city structures. The term urbanization itself refers to the expanding concentration of the population in cities and towns, providing an environment for economic, social, and infrastructural evolution. The surge in urbanization directly impacts the general freight trucking market, demanding more efficient transportation of goods within these burgeoning cities. For example, the US Department of Commerce reported in January 2022, that the population of the US was 332,403,650. This figure reflects an increase of 0.21% from the previous year, effectively showcasing the direct correlation between increased urbanization and the subsequent growth of the general freight trucking market.
How Is the General Freight Trucking Market segmented?
The general freight trucking market covered in this report is segmented –
1) By Type: Local General Freight Trucking, Long-Distance General Freight Trucking
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
Subsegments:
1) By Local General Freight Trucking: Same-Day Delivery Services, Short-Haul Trucking, Last-Mile Delivery, Distribution Services
2) By Long-Distance General Freight Trucking: Full Truckload (FTL) Services, Less Than Truckload (LTL) Services, Intermodal Transportation, Dedicated Freight Services
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What New Trends Are Influencing the General Freight Trucking Market?
Prominent players in the general freight trucking market are entering into collaborations to institute fresh alliances, with the aim of supervising general freight trucking services. A corporate collaboration constitutes a legally binding agreement among multiple participants designed to manage a business entity while sharing its profits and obligations. For example, Uber Freight, an American firm that eases freight and delivery management, took up a partnership with WattEV in March 2023. This cooperation allowed WattEV to propose its electric trucks to Uber Freight shippers, contributing to the promotion of sustainable and effective freight transportation. Moreover, the cooperation included CHEP, a firm proficient in supply chain solutions, acting as a tactical partner in this initiative. As a company based in the US, WattEV provides electric trucks as a service. Later, in May 2022, Aurora Innovation Inc., a US company that advances self-driving vehicle technology, extended its autonomous freight pilot program in partnership with FedEx Corporation. This collaboration was intended to boost Aurora Innovation Inc.’s operational capabilities and accommodate rising demand for effective freight transportation. This venture is a segment of a wider strategy to incorporate autonomous technology into logistics, with a vision of enhancing safety, efficiency, and reliability in the trucking sector. FedEx Corporation is a US company offering freight shipping through trucks.
Who Are the Key Players in the General Freight Trucking Market?
Major companies operating in the general freight trucking market include:
• United Parcel Service. Inc
• Deutsche Post AG
• FedEx Corporation
• C.H. Robinson Worldwide. Inc
• J.B. Hunt Transport Services
• XPO Logistics. Inc.
• Ceva Logistics AG
• Landstar System. Inc
• A.P. Moller – Maersk
• Standard Vulcanizers
• Freight Mart Logistics
• Prime Transport Corporation
• OM Logsitcs Limited
• Wellfield Services Limitada
• Doyun Logistics Co. Ltd.
• GKR Transport
• Australian Container Freight Services
• Jiangsu Kunyue Logistics Co Ltd
• Kunshan Yunda Express Co Ltd
• Changsha Sitong Moving Transport Co Ltd
• Ningbo Jinxing Logistics Co Ltd
• Simco Trans GmbH
• Shanghai Ruiqiang Logistics Co Ltd
• Sichuan Wangcang County Transport Co Ltd
• Beijing Keyun Logistics Co Ltd
• TNT Expressare
• InstaFreight GmbH
• Haberling
• Smart Move Facilities Services Inc
• Kahmen TransCargo GmbH
• House of Logistics and Mobility
• AW Transport & Logistics GmbH
• Livchem Logistics GmbH
• DHL Express
• Transportes Della Volpe Sa Comercio E Industria
• Spice Logistics Private Limited
• Pavages J.M. Beaulieu Inc
• Les
• Spares
• 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.
• Harper Investments. Inc.
• Pemex Logística
• E.P.S.
• Frialsa Frigoríficos
• S.A. de C.V.
• Bravo Servicos Logisticos Ltda
• Ic Transportes Ltda
• Tri Star Transport
• Transportes Transvidal Ltda
• Liderbras Logistica E Transportes Ltda
• Xiamen C&D
• Oilmar Shipping and Chartering DMCC
• UB Freight Australia Pty LTD
• International Marine & Energy DMCC
• Bin Jaraa General Transporting
• Contracting & General Maintenance Company
• Tianjin Jinshi Wukuang International Logistics Co Ltd
• Reinhardt Transport (Pty) Ltd
• The National Coal Supply Corporation LTD
• Alpha Omega International Trading Cc
• Autocarrier Transport
• Fpt Group (Pty) Ltd
• Super Group Freight
• Atteridgeville Bus Service (Pty) Ltd
What Is The Most Dominant Region In The General Freight Trucking Market?
Asia-Pacific was the largest region in the general freight trucking market in 2024. North America was the second largest region in the general freight trucking market. The regions covered in the general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
