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Freight Trucking Market

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Freight Trucking Market to reach Opportunities worth of US$6,252.81 Bn by 2025 |
Burgeoning Trade and Commerce aid in Rapid Expansion
The presence of a copious number of players, from the private as well as private sector, is what
makes the global freight trucking market increasingly fragmented, finds Transparency Market
Research (TMR). A growing number of players are toying with a host of strategies to consolidate
their positions continuously. Prominent players are focusing on new product launches to retain
their share in the global market. They are also actively entering into mergers and acquisitions,
with the move to expand their geographic positions, in order to reap substantial competitive
gains. Several freight service providers are also augmenting their capacities to bolster their
positions.
Players with sizeable stakes in the global freight trucking market include Concargo Private
Limited, Procet Freight, Transtech Logistics, Interlogix Private Limited, Tuma Transport,
Kuehne+Nagel Incorporated, Swift Transportation, Cargo Carriers, FedEx Corporation, United
Parcel Service Inc., and Ceva Holdings LLC
The global freight trucking market is projected to expand at a CAGR of 5.6% from 2017 and
2025. Rising at this pace, the opportunities in this global market will reach a worth of
US$6,252.81 billion by the end of the forecast period. The market stood at US$3,844.76 billion
in 2016.
The various types of freight trucks in the market are truck trailer, lorry tank, flatbed truck, and
refrigerated truck. Of these, the refrigerated truck is prognosticated to rise at the leading CAGR
over the assessment period. The growth of the segment has been underpinned by burgeoning
volumes of transport coming from perishable commodities.
The geographic landscape is led by Asia Pacific which contributed the major share of revenue to
the global market in 2016. The substantially rising uptake of freight trucking in its various
economies is fueling the regional market.
Burgeoning Volumes of Transported Goods World over bolster Uptake
The staggering rise in volumes of transported goods in various parts of the globe is a primary
factor driving the demand for freight trucking. The market growth is also catalyzed by
intensifying need for reliable truck load services to meet the various supply chain needs in enduse industries, coupled with the swift pace of industrialization in emerging economies. A rapidly
rising trade and commerce in developing regions is contributing to the vast rising demand for
truckload services.
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Proliferating Home Deliveries from Online Shopping accentuate Growth
The proliferating demand for online shopping is imparting a robust momentum to the growth of
the market. The attractive strides being experienced by the e-commerce sector, especially in
emerging and developed nations, is stoking the demand for freight trucking services.
Furthermore, the market is also benefitting from aggressive marketing of online shoppers,
coupled with rapid advances in internet services, in various parts of the globe. Of great
significance is the trend of home deliveries, which has added to the substantial uptake of
freight trucking services.
Vulnerability in Oil and Gas Prices key Constraint, Technological Advancements to drive
Growth
The notably rising demand for long-distance cargo transportation in developing and developed
regions is boosting the demand for freight trucking services. The market growth is also
propelled by the extensive demand for cold storage vehicles for the transportation of
perishable products, notably food and beverages.
Author
monali raghu
monali raghu349   documents Email
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