Global Freight Trucking to Surge at a Robust Pace in Terms of Revenue Over 2024

Freight Trucking Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of freight trucking market by cargo type (oil and diesel, dry bulk goods, postal and others), type (truck trailer, flatbed, lorry tank, refrigerated truck), end user (industrial and manufacturing, energy and mining, chemicals, pharmaceutical and healthcare) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the freight trucking market it includes the five years Industry analysis and the 6 years annual forecast from  to 2024. Some of the prominent participants in the global freight trucking market are Procet Freight, Transtech Logistics, Kuhne+Nagel Inc., Interlogix Pty. Ltd., Swift Transport, Tuma Transport, Ceva Holdings LLC, FedEx Corporation, United Parcel Service Inc. and Cargo Carriers Limited.

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Freight trucking is the physical process of transporting commodities and merchandise goods. Amongst all the modes, rail and road transport are the most significant modes for freighting. The modal share between these two has changed over the years, from the 80% rail share in 1950-51 to the road share becoming 65% in 2011-12.

Road accounts for 86% of the freight transport while the other modes account for 14%. The main advantage of freight transportation is that it can be cheaper than other modes of transportation for short hauls (less than 400 mi, or 640 km). It can also be cheaper for small shipments regardless of distance.

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Rising the Popularity of Online Shopping and Speedy Growth in the Internet Retailing Market Drives the Growth of the Freight Trucking Market

Rising the popularity of online shopping and speedy growth in the internet retailing market drives the growth of the freight trucking market. In addition, increasing urbanization and rise in the trade volume has resulted in an increase in the transport volumes. However, underdeveloped infrastructure in emerging countries is likely to restrain the growth of the market.

Furthermore, Freight trucks are now equipped with GPS tracking, temperature-controlled compartments, flatbed and load-to-road service, and a variety of additional capabilities. Hence, technological advancements are providing several growth opportunities for the key players in the freight trucking market over the upcoming years.

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Among the geographies, the Asia Pacific region dominates the global freight trucking market followed by the North America region. The growth in the Asia Pacific region is due to the largest revenue contributing countries such as India China and Japan. China is the manufacturing hub of electronic equipment an components, moreover, this region also houses many OEM manufacturers, owing to China is the major exporter of electronic systems & components and OEM parts.

India is also anticipated to become the leading the region in the freight trucking owing to government policy such as Make in India which in turn, can create manufacturing business opportunity in this region. Also, India is a large country with vast sales & distribution network which will eventually help to boost freight trucking business.

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