E-tailing to Underscore Growth in Freight Trucking Market, Expected to Reach ~US$ 6 Bn by 2027: Transparency Market Research

ALBANY, New York, March 3, 2020 /PRNewswire/ -- Transparency Market Research, New York: Over the period 2019 to 2027, the global freight trucking market would chart a steady growth curve, owing to a sturdy nearly 5% CAGR (Compound Annual Growth Rate). The growth rate would translate to a number of attractive opportunities emerging for the market players and an increased market worth of USD 6 billion by the end of this period.

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As per analysis of Transparency Market Research, "Shift to service-based business models from product-based business models is contributing massively to the growth of global freight trucking market. Major market players are investing here to carve off a notable share of the market growth. Some of these companies include Google, Uber, Amazon, and Tesla. Market players would be wise to adopt digital technologies in order to increase efficiency in operations and smoothen supply chain."

Key Findings of the Freight Trucking Market Study

    --  Lorry Tank and Truck Trailer to be lucrative segments owing to growth in
        cross-border and inter-state trade
    --  Refrigerated truck segment to chart a significant CAGR over the forecast
        period, owing to increase in perishable goods' export and import
    --  In terms of end-use, industrial and manufacturing segment would dominate
        the market landscape over the forecast period owing to rapid
        industrialization and increasing efforts directed towards improvement in
        infrastructure, particularly in developing nations
    --  Energy and Mining to follow industrial and manufacturing in terms of
        market share
    --  Asia Pacific to be a prominent regional market over the assessment
        period

Explore 219 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Freight Trucking market by Size: Heavy Trucks, Medium Trucks, and Light Trucks; Type: Lorry Truck, Truck Trailer, Refrigerated Truck, Flat Bed Truck, and Others; End Use: Oil & Gas, Industrial & Manufacturing, Defense, Energy & Mining, Chemicals, Pharmaceuticals & Healthcare, and Food & Beverages; Cargo Type: Dry Bulk Goods, Oil & Diesel, Postal, and Others; and Distance: 50 Miles or Less, 51-100 Miles, 101-200 Miles, 201-500 Miles, and Above 501 Miles - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at

https://www.transparencymarketresearch.com/freight-trucking-market.html

Global Freight Trucking Market: Key Driving Factors

Multiple factors underscore growth in the global freight trucking market over the assessment period. The prominent ones among them, as per Transparency Market Research, are increase in global trade and growth in e-commerce sector. A glimpse into drivers and trends is provided below:

    --  Improvement in transport infrastructure, particularly in developing
        countries to drive growth in the global freight trucking market
    --  Increase in disposable incomes leads to increase in online shopping and
        this includes shopping from websites in other countries; this increases
        need for robust logistics, leading to growth in freight trucking market
    --  Increase in bilateral trade and better access to internet to propel
        market onto a high growth trajectory over the stated period

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Key Impediments for Global Freight Trucking Market Players

One of the most notable restraints that the global freight trucking market experiences is that it is comparatively slower. Besides, poor maintenance of trucks also limits the growth of the market from reaching a higher trajectory. It is also noted that a large number of toll booths and plazas also lead to wastage of time, impacting timelines negatively.

Global Freight Trucking Market: Region-wise Analysis

    --  Asia Pacific to maintain its dominance in the global freight trucking
        market over the forecast period owing to high freight volumes in
        Southeast Asian Nations (ASEAN) and China
    --  Improvement in infrastructure in terms of roads to support growth in the
        region; increase in cross country trade to underscore high trajectory
    --  Owing to better loads, Europe would also be a lucrative market

Analyze Global Freight Trucking market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,

Competition Landscape

The most notable players in the global freight trucking market are Ceva Holdings LLC, United Parcel Service, Inc., Tuma Transport, Cargo Carriers Limited, Werner Enterprises Inc.,Transtect Logistics ,FedEX Corporation, Concargo Private Limited ,Swift Transport, Interlogix Pty. Ltd., KUEHNE+NAGEL INC., Procet Freight, J&J Africa, and Tiger Africa Transport among others. It is a fragmented vendor landscape. Besides, these key players are profiled in the market report prepared by Transparency Market Research.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/13250

Some of the strategies that the global freight trucking market players are deploying to gain an edge over others are mergers and acquisition and synergistic collaborations. One such instance noted in the recent past is the acquisition of Wira Logistics by Kuehne+Nagel in the year 2018. It provides the latter with better market penetration in Indonesia.

Transparency Market Research has segmented the Freight Trucking market report based on size, type, end-use, cargo type, distance, and region.

    --  Freight Trucking Market, by Type
        --  Lorry Tank
        --  Truck Trailer
        --  Refrigerated Truck
        --  Flat Bed Truck
        --  Others
    --  Global Freight Trucking Market, by End Use
        --  Oil & Gas
        --  Industrial & Manufacturing
        --  Defense
        --  Energy & Mining
        --  Chemicals
        --  Pharmaceuticals & Healthcare
        --  Food & Beverages
    --  Freight Trucking Market, by Distance
        --  50 Miles or Less
        --  51-100 Miles
        --  101-200 Miles
        --  201-500 Miles
        --  Above 501 Miles
    --  Freight Trucking Market, by Cargo Type
        --  Dry Bulk Goods
        --  Oil & Diesel
        --  Postal
        --  Others
    --  Freight Trucking Market, by Size
        --  Heavy Trucks
        --  Medium Trucks
        --  Light Trucks
    --  Freight Trucking Market, by Region
        --  North America
        --  Europe
        --  Asia Pacific
        --  Middle East & Africa
        --  Latin America

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