Global Forest Products Trucking Market Trends And Strategies Of Major Players In The Forest Products Trucking Market 2021-2030

29 Sep, 2021

The forest products trucking market consists of sales of forest products trucking services and related goods by entities (organizations, sole traders and partnerships) that provide over-the-road transportation of forest products. Only goods and services traded between entities or sold to end consumers are included.

Global Forest Products Trucking Market Size And Drivers:

The global forest products market is expected to grow from $159.69 billion in 2020 to $172.08 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $230.26 billion in 2025 at a CAGR of 7.6%. The increase in demand for wood-based raw materials drives the demand for the forest products trucking market.

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Trends In The Global Forest Products Trucking Market

The shortage of truck drivers is a major challenge in the forest products trucking market. According to the American Trucking Association’s (ATA) USA estimates, there is a shortage of 50,000 truck drivers and this is expected to increase to 174,000 by 2026. Moreover, according to an article in the Canadian Press, due to the shortage of truck drivers, Weyerhaeuser, an American timberland company, lost $10 million to $15 million in the fourth quarter. By 2024, the average age of truck drivers is expected to be 50, the shortage is expected to be between 38,000 or 48,000, and more than 10,000 trucker drivers retire every year. Therefore, the shortage of truck drivers is expected to limit the growth of the forest products trucking market.

Global Forest Products Trucking Market Segments:
The global forest products trucking market is further segmented –
By Type: Log Transport, Chip Transport
By Size: Heavy Trucks, Medium Trucks, Light Trucks
By Geography: The global forest products trucking market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Forest Products Trucking Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides forest products trucking market overviews, analyzes and forecasts market size and growth for the global forest products trucking market, forest products trucking market share, forest products trucking market players, forest products trucking market segments and geographies, forest products trucking market’s leading competitors’ revenues, profiles and market shares. The forest products trucking market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.