Global Forest Products Trucking Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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The global forest products trucking market is expected to decline from $175.77 billion in 2019 to $173.78 billion in 2020 at a compound annual growth rate (CAGR) of -1.1%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $214.23 billion in 2023 at a CAGR of 7.2%. The increase in demand for wood-based raw materials drives the demand for the forest products trucking market.
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.
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The global forest products trucking market is further segmented based on type and geography.
By Type: Log Transport, Chip Transport.
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.
Among these regions, the Asia-Pacific forest products trucking market was the largest region in the global forest products trucking market in 2019.
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Trends In The Forest Products Trucking Market
Mergers and acquisitions will allow the companies to cut costs by sharing each other’s facilities for service, maintenance, and fuel.
Forest Products Trucking Global Market Report 2020 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.