Global Local General Freight Trucking Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

22 Sep, 2021

The local general freight trucking market consists of sales of local general freight trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide local general freight trucking services. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Local general freight trucking establishments usually provide trucking within a metropolitan area which may cross state lines. Generally, the trips are same-day return. Only goods and services traded between entities or sold to end consumers are included.

Global Local General Freight Trucking Market Size And Drivers:

The global local general freight trucking market is expected to grow from $111.84 billion in 2020 to $125.24 billion in 2021 at a compound annual growth rate (CAGR) of 12%. 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 $170.8 billion in 2025 at a CAGR of 8.1%. The increase in e-commerce sales is expected to fuel the growth of the local freight trucking market in the coming years.

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Trends In The Global Local General Freight Trucking Market

The integration of the Internet of Things (IoT) in the transportation sector is a key trend gaining popularity in the local general freight trucking market. IoT is expected to change the transport sector by gathering data and vital information from market and technology developments related to data analytics and automation of mobility and provide benefit in fleet management and location tracking. Companies around the world are finding more interesting ways to take advantage of the Internet of Things for greater productivity and efficiency. For instance, Kuehne + Nagel, a Swiss-based transport and logistics company, uses IoT for freight monitoring, which helps to warn temperature, humidity, pressure, shock, and tilt at parcel level.

Global Local General Freight Trucking Market Segments:
The global local general freight trucking market is further segmented –
By Type: Truckload Transportation, Less-Than-Truckload Transportation, Intermodal Transportation, Dry-Bulk Transportation, Other
By Size: Heavy Trucks, Medium Trucks, Light Trucks
By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Others
By Geography: The global local general freight trucking market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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