Global Freight Trucking Strategic Business Report 2024: Focus on Road Infrastructure Development Post Pandemic to Ensure Sustained Growth - Forecasts to 2030
Global Freight Trucking Market to Reach $3.4 Trillion by 2030
The global market for Freight Trucking estimated at US$2.3 Trillion in the year 2023, is projected to reach a revised size of US$3.4 Trillion by 2030, growing at a CAGR of 4.8% over the analysis period 2023-2030.
The report highlights the pivotal role of global trade and retail in driving growth within the Freight Trucking industry, emphasizing the interconnected nature of trade and transport logistics.
It discusses the profound impact of the pandemic on trade, transport, and retail industries, ushering in a new normal characterized by uncertainty and evolving market dynamics. Insights into transportation industry trends reveal challenges faced, while focusing on urban logistics and the departmental stores market reset.
Truck Trailer, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$1.1 Trillion by the end of the analysis period. Growth in the Lorry Tank segment is estimated at 3.8% CAGR for the next 8-year period. Despite an uncertain recovery in global trade, recent market activity indicates ongoing innovations within the Freight Trucking sector, showcasing efforts to adapt and thrive in the face of adversity.
The U.S. Market is Estimated at $555.3 Billion, While China is Forecast to Grow at 6.3% CAGR
The Freight Trucking market in the U.S. is estimated at US$555.3 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$770.8 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.
Key Attributes:
Report Attribute
Details
No. of Pages
752
Forecast Period
2023 - 2030
Estimated Market Value (USD) in 2023
$2.3 Trillion
Forecasted Market Value (USD) by 2030
$3.4 Trillion
Compound Annual Growth Rate
5.7%
Regions Covered
Global
MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Freight Trucking - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
Global Trade & Retail: The Foundation for Growth in the Freight Trucking Industry
Trade & Transport Logistics Are Mutually Reinforcing: Global Value of Export Trade (In US$ Billion) for the Years
How Trade, Transport & Retail Industries Are Impacted by the Pandemic & What's the New Normal?
Transportation Industry Bites the Dust
Retailing & Merchandizing, the Key Drivers of Urban Logistics, Slumps
Special Focus on Departmental Stores
Global Department Stores Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
An Uncertain Recovery in Global Trade Means the Pain of the Pandemic Will Continue to Linger On for the Freight Transport Industry
Recent Market Activity
Innovations
MARKET TRENDS & DRIVERS
Moving Beyond COVID-19, How Will Global Supply Chains Looks Like? The Answer Every Stakeholder in Supply Chain Logistics Should Know
As Companies Come to Terms With the Depth of their Dependencies, Globalization Will Reduce to Regionalization
Supply Chain 24/7 Visibility, the New Normal
Why the Need to Modify The Pharmaceutical Supply Chain Is So Great?
Rethinking Scale & Mix Will See the Rise of Parallel Supply Chains
Making Data Talk: Digitization Will be the Key to Building Stronger, Smarter Supply Chains
Focus on Road Infrastructure Development Post Pandemic to Ensure Sustained Growth in the Freight Trucking Industry
Year 2020, a Year of Hiatus for Road Development Projects
A Quick Rebound in 2021 is Supported by the Fact that Roads Play a Crucial Role in Enabling Seamless Movement of Goods Vital to Economic Recovery & Growth
Growing Need to Bridge Infrastructure Gap Which is the Highest for Roadways Promises to Expand Budget Outlays for Highways and Transport Development : Global Cumulative Investments in Roadways Vs Actual Need for the Period 2016-2040 (In US$ Trillion)
Cumulative Global Infrastructure Spending Gap 2018-2040 (In US$ Billion)
Demand for Refrigerated Trucks Grows in Parallel to the Focus Shed on Safe Transport of Perishable Temperature Sensitive Food Products & Produce
Innovations in Refrigeration Systems for Transport Vehicles Gains Prominence
Growing Demand for Frozen Foods Bodes Well for Refrigerated Road Transport Vehicle Demand & Trucking Services: Global Opportunity for Frozen Foods by Type (In US$ Billion) for Years 2020, 2022, 2024, 2026
In-Country Vaccine Transport Needs to Benefit Demand for Refrigerated Trucks & Trucking Services
Fleet Telematics Brings in Performance Improvements in the Trucking Industry
Cost Pressures in the Logistics Industry Spurs Market Opportunities for CV Telematics in Fleet Management
Trucking Service Providers Step Up Spending on Telematics: Global Spending on Commercial Vehicle Telematics (In US$ Million)
Rise of e-Commerce Comes as a Boon For Urban Logistics & the Trucking Industry in Particular
Global e-Commerce Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
Growing Focus on Enhancing Effectiveness of Last Mile Delivery Spurs Demand for Mini Electric Trucks
Business-to-Customer (B2C) e-Commerce Pushes Last Mile Delivery Into a Multi-Billion Dollar Market: Global Last Mile Delivery Market (In US$ Billion) for Years 2020, 2022 and 2025
Hybrid Truck-Drone Model for Last-Mile Delivery
Autonomous Trucking: A Revolution in Making in the Trucking Industry
Digitalization of Logistics Gains Fervor Amid the Pandemic
Growing Number of Service Providers Leverage Data and Analytics for Smart Transportation
The Push to Digitalize Gets Stronger: Global Digital Logistics Market Opportunity (In US$ Billion) for Years 2020, 2022, 2024 & 2027
3PLs Step Up Investments in Freight Management Systems. Here's Why
Global Opportunity in Freight Management Systems Market (In US$ Million) for Years 2020, 2022 and 2024 and 2027
Big Data Analytics Gains in Importance in Freight Management Systems
The Move Towards Digitalization Accelerates Adoption of New Technologies & Presents New Opportunities for Growth
Here's How IoT Will Deliver Revolution to the Trucking Industry
Rise of Blockchain in Trucking: A Review
Artificial Intelligence (AI) Makes Inroads in the Trucking Industry
Global Opportunity for Artificial Intelligence (AI) in Logistics and Supply Chain (In US$ Billion) for Years 2020, 2022, 2024, 2025 and 2027
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