What are the Historical Developments and Current Growth Metrics of the Long Distance General Freight Trucking Market?
The long distance general freight trucking market has seen considerable growth due to a variety of factors.
• The market size of long-distance general freight trucking has seen a swift expansion in the previous years. From $940.4 billion in 2024, the market is expected to escalate to $1045.43 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.2%.
The growth previously recorded can be accredited to the broadening horizons of the long-distance general freight trucking industry, an increase in e-commerce activities, scarcity of skilled truck operators, stiff competition, and robust economic development in the emerging markets.
What is the Forecasted Market Size and CAGR for the Long Distance General Freight Trucking Market?
The long distance general freight trucking market is expected to maintain its strong growth trajectory in upcoming years.
• A significant rise is anticipated in the market size of long-distance general freight trucking in the coming years, with predictions swelling to $1514.85 billion in 2029 at a CAGR of 9.7%.
The projected expansion for the upcoming period is a result of increasing demand for economic and effective transportation, an intensified emphasis on sustainability and reduction in carbon emissions, escalating urbanization, a growing request for elementary materials from manufacturing sectors, and a boost in oil and gas exports. The forecast period will also likely experience trends such as growing employment of tractor-trailer conjunctions, a gradual shift to more local truck drivers, the integration of IoT into truck operations, the implementation of truck platooning to bolster efficiency and cost-effectiveness, and the application of artificial intelligence (AI).
What Key Factors and Trends Are Driving The Growth Long Distance General Freight Trucking Market?
The escalation in production across various sectors is predicted to steer the expansion of the long-distance general freight trucking market. An enhanced production rate necessitates increased trucking for transportation of goods from one location to another. For example, Tesla Inc., a US-based automotive and clean energy company, reported in January 2023 that they manufactured over 439,000 vehicles in 2022, successfully delivering more than 405,000 of them. This yielded a 40% annual growth in vehicle deliveries, totaling 1.31 million. The production aspect also saw a considerable growth, swelling by 47% annually to touch 1.37 million vehicles. Therefore, the amplified production output, leading to an escalated need for trucking to transport the manufactured goods, is propelling the growth of the long-distance general freight trucking market.
What Are The Market Segments In The Long Distance General Freight Trucking Market?
The long-distance general freight trucking market covered in this report is segmented –
1) By Services: Truckload Carriers, Less-than-truckload Carriers, Other Transportation Services
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
Sub-Segments:
1) By Truckload Carriers: Full Truckload (FTL) Services, Dedicated Truckload Services
2) By Less-than-truckload Carriers: Standard LTL Services, Expedited LTL Services, Temperature-sensitive LTL Services
3) By Other Transportation Services: Intermodal Freight Transportation, Specialized Freight Transportation, Freight Brokerage Services
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What Trends Are Reshaping The Future Of The Long Distance General Freight Trucking Market?
The long-distance general freight trucking market is experiencing a surge in the use of electric trucks for transportation, a factor anticipated to stimulate market expansion. A substantial amount of electric trucks are being ordered by various retailers and transporters for tasks such as beverage routes and last-mile delivery. For instance, in September 2020, Lion Electric sold 10 electric trucks to Amazon, who also placed an order for 100,000 electric delivery vans from startup Rivian, scheduled for delivery from 2021 to 2024.
Who Are the Key Players In The Long Distance General Freight Trucking Market?
Major companies operating in the long-distance general freight trucking market include:
• XPO Inc.
• YRC Worldwide Inc.
• FedEx Corporation
• JB Hunt Transport Services Inc.
• Knight-Swift Transportation Holdings Inc.
• Old Dominion Freight Line Inc.
• Joe's Logistics Inc.
• Universal Truckload Holdings Inc.
• Reynolds Logistics Inc.
• Carolina Cargo Freight Expediters LLC
• Spirit Truck Lines Inc.
• Kivi Bros Trucking Inc.
• Mangino Holding Corporation
• Duncan and Son Lines Inc.
• GFA Alabama Inc.
• C&S Wholesale Grocers
• Kenan Advantage Group Inc.
• Universal Logistics Holdings Inc.
• Ceva Logistics Us Holdings Inc.
• Lynden Air Cargo
• Hub Group Inc.
• Aaa Cooper Transportation
• Charlotte Truck Center Inc.
• Estes Express Lines
• TForce Freight
• ABF Freight System Inc.
• R+L Carriers Inc.
• Saia Motor Freight Line LLC
• Central Transport International Inc.
• Oak Harbor Freight Lines Inc.
• Daylight Transport
• New Penn Motor Express LLC
• New England Motor Freight Inc.
• A. Duie Pyle Inc.
• USF Reddaway Inc.
• Roadrunner Transportation
• Pitt Ohio Transportation Group
• Dayton Freight Lines Inc.
• Forward Air Corporation
• Averitt Express
• Southeastern Freight Lines
What Are The Regional Insights Into The Long Distance General Freight Trucking Market?
Asia-Pacific was the largest region in the long-distance general freight trucking market in 2023. North America was the second largest region in the long-distance general freight trucking market. The regions covered in the long-distance general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
