7/18/2021 Freight Trucking Market – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast – Facts and

recast – Facts and Trends

Freight Trucking Market – Global Industry

Analysis, Size, Share, Growth, Trends,
And Forecast
JULY 18, 2021 BY SURENDRA CHOUDHARY  ♥

According to the report, the global freight trucking market is projected to reach ~US$ 4 Trn by 2030,
expanding at a CAGR of ~5% during the forecast period. Rise in trade and more distance between
manufacturing units and end-users is likely to boost the market for freight trucking during forecast
period. In developing and major emerging economies, transportation of products and goods by
means of roadways plays an integral role. Moreover, this mode of transport is cost-effective for
door-to-door service, owing to improved road infrastructure. This is anticipated to propel the
freight trucking market during the forecast period.

Increasing industrialization and preference toward e-tailing is estimated to boost the freight
trucking market. Online shopping is witnessing significant expansion, owing to an increase in
speedy Internet access, which has led to a rise in preference toward e-tailing among consumers.
Furthermore, convenience of shopping from home is projected to boost e-Commerce and
consequently, drive the freight trucking market during the forecast period.

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Expansion of Freight Trucking Market

Surge in trade volume due to rising bilateral trade among countries is projected to boost the freight
trucking market during the forecast period. China witnessed a surge in both general trade volume
and proportion, escalating to 15.66 trillion Yuan. China trade volume accounted for 56.4% of total
foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN.
Exports of China to the U.S. further rose by 15.2% percent year-on-year. Based on type, the global
freight trucking market has been segmented into truck trailer, lorry tank, flat bed truck, refrigerated
truck, and others. Lorry tank and truck trailer are likely to be highly lucrative segments during the
forecast period. This is primarily due to a rise in trade volume from one region to another. The
refrigerated truck segment is estimated to expand at a rapid pace during the forecast period, due to
rising export and import of perishable goods across the globe.

In terms of end user, the global freight trucking market has been classified into oil & gas, energy &
mining, industrial & manufacturing, defense chemicals, pharmaceutical & healthcare, and food &
beverages. The industrial & manufacturing segment dominated the global freight trucking market
due to a rise in the demand for better infrastructure and development of new industries especially
in developing countries. The energy & mining segment followed the industrial & manufacturing
segment.

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Regional Analysis of Freight Trucking Market

In terms of region, the global freight trucking market has been segregated into North America,
Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the freight
trucking market in 2019 and is anticipated to hold a leading share during the forecast period due to
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7/18/2021 Freight Trucking Market – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast – Facts and Trends

high volume of freight transport in China & ASEAN. Improvement of road & transport network
and cross-country trade over the years is likely to further boost the freight trucking market in the
region.

Prominent players operating in the global freight trucking market include A.P.Moller Maersk,
Canadian National, CEVA Logistics, CMA CGM, DB SCHENKER, Deutsche Post, DHL Paket
GmbH, Estes Express Lines, FedEx Corporation, Kuehne + Nagel, Nippon Express Co., Ltd., R+L
Carriers,Saia Motor Freight Line, SNCF Geodis, Swift Transportation, TNT Holding B.V., UPS
Freight, XPO Logistics, Yamato Holdings Co., Ltd., and YRC Worldwide Inc.

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