Global Truck Transport Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

30 Mar, 2021

The truck transport market consists of sales of truck transportation services and related goods by entities (organizations, sole traders and partnerships) that provide over-the-road transportation of cargo using motor vehicles, such as trucks and tractor-trailers. This market does not include household and office goods transportation services. The truck transport market is segmented into general freight trucking and specialized freight trucking.

Global Truck Transport Market Size And Drivers:

The global truck transport market is expected to grow from $1.42 trillion in 2020 to $1.57 trillion in 2021 at a compound annual growth rate (CAGR) of 10.%. The market is expected to reach $2.13 trillion in 2025 at a CAGR of 8%. The truck transportation market growth is aided by stable economic growth forecasted in many developed and developing countries.

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Trends In The Global Truck Transport Market

Fleet regionalization is being widely adopted by truck transportation companies to reduce operational costs and increase transportation efficiencies. As a result, companies involved in the truck transportation business are gradually shifting their services from international and national level to the regional level. Regionalization of fleets enables truck transportation companies to increase operational efficiencies and reduce costs, improves driver and truck turnaround time.

Global Truck Transport Market Segments:
The global truck transport market is further segmented based on type, application, size and geography.
By Type: General Freight Trucking, Specialized Freight Trucking.
By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Others.
By Size: Heavy Trucks, Medium Trucks, Light Trucks.
Subsegments Covered: Local General Freight Trucking, Long-Distance General Freight Trucking, Automobiles And Heavy Equipment, Bulk Liquids, Dry Bulk Materials, Forest Products, Refrigerated Goods.
By Geography: The global truck transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global truck transport market, accounting for 30% of the total market.

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