Specialized Freight Trucking Global Market To Reach Value Of About $1 Trillion In 2025
8 Feb, 2021
The specialized freight trucking market consists of sales of specialized freight trucking services and related goods by entities (organizations, sole traders and partnerships) that provide over-the-road transportation of household and office goods. The specialized freight trucking market is segmented into automobiles and heavy equipment; bulk liquids; dry bulk materials; forest products and refrigerated goods.
Global Specialized Freight Trucking Market Size And Drivers:
The global specialized freight trucking market is expected to grow from $780.83 billion in 2020 to $847.35 billion in 2021 at a compound annual growth rate (CAGR) of 8.5%. The market is expected to reach $1.13 trillion in 2025 at a CAGR of 8%.
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Trends In The Global Specialized Freight Trucking Market
Truck transportation companies are widely using collision mitigation technology to reduce loss of lives and damages associated with accidents. Collision mitigation system detects the impending strike and alerts the driver about any collision. These systems are installed within the vehicle and in case of an imminent accident, they can take an action automatically without the driver’s input. These systems are becoming standard inbuilt feature on many new trucks in many countries globally.
Global Specialized Freight Trucking Market Segments:
The global specialized freight trucking market is further segmented based on type, application, size and geography.
By Type: Automobiles And Heavy Equipment, Bulk Liquids, Dry Bulk Materials, Forest Products, Refrigerated Goods.
By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Others.
By Size: Heavy Trucks, Medium Trucks, Light Trucks.
By Geography: The global specialized freight trucking market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global specialized freight trucking market, accounting for 29% of the total market.
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Specialized Freight Trucking Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides specialized freight trucking market overviews, analyzes and forecasts market size and growth for the global specialized freight trucking market, specialized freight trucking market share, specialized freight trucking market players, specialized freight trucking market segments and geographies, specialized freight trucking market’s leading competitors’ revenues, profiles and market shares. The specialized freight trucking market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.