Global Local General Freight Trucking Market Size 2024, Forecast To 2033

11 Mar, 2024

The local general freight trucking market has experienced marginal growth, increasing from $131.36 billion in 2023 to $133.79 billion in 2024, reflecting a compound annual growth rate (CAGR) of 1.8%. The growth in the historic period is attributed to economic growth in emerging markets, growth in the building and construction sector, and a rise in disposable income. Moving into the next few years, the market is expected to see marginal growth, reaching $144.45 billion in 2028 with a CAGR of 1.9%. The growth in the forecast period can be attributed to the growing e-commerce sales, rising urbanization, and an increasing demand for raw materials from the manufacturing industries. Major trends in the forecast period involve the use of artificial intelligence (AI), a focus on the Internet of Things (IoT), mergers and acquisitions, increasing investments, partnerships, and collaborations.

Global Local General Freight Trucking Market Key Driver

The anticipated growth in e-commerce sales is set to fuel the expansion of the local freight trucking market in the forecast period. E-commerce, defined as the online purchase and sale of products and services, heavily relies on trucking for the transportation of goods, directly impacting the trucking industry. In September 2022, the International Trade Administration reported that consumer e-commerce constituted 30% of the UK's overall retail sector, up from 20% in 2020, with an annual revenue exceeding $120 billion. Furthermore, 82% of people in the UK had made at least one online purchase in 2021. The surge in e-commerce sales elevates the demand for goods transportation, thereby driving the growth of the local freight trucking market. These dynamics are expected to reflect in the market size in 2023, with ongoing implications for 2024 and 2028.

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Global Local General Freight Trucking Market 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
By Geography:The regions covered in the local general freight trucking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain Asia-Pacific was the largest region in the local general freight trucking market in 2023. North America was the second largest region in the local general freight trucking market share. The regions covered in the local general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Local General Freight Trucking Industry Players

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

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Local General Freight Trucking 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.

Local General Freight Trucking Global Market Report 2023 provides data on the global local general freight trucking market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The local general freight trucking market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.