Global Freight Trucking Market was valued USD XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 5.8% during forecast period of 2019 to 2026.
Global Freight Trucking MarketThe report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The transportation of goods has increased immensely in the last few years. Additionally, growing urbanization in combination with development in trade volumes has boosted the demand for competent transport systems. The Freight Trucks also provide network activities like local pickup, terminal operations, line-hauling, local sorting, destination sorting, and local delivery.
Global Freight Trucking Market Drivers and Restrains
Major driving factors of the Freight Trucking Market is in the stages of a technological changes, with a particular focus on long-distance freight trucking. The increasing demand for online shopping is imparting a strong momentum to the growth of global freight trucking market. The attractive steps being skilled by the e-commerce sector, especially in emerging and developed nations is fueling the demand for freight trucking market. Additionally, the market is also profiting from online shoppers, coupled with rapid advances in internet services, globally. The trend of home deliveries, which has supplementary to the considerable uptake of freight trucking services. To gain traction, the ecommerce platforms and online shopping sites make arrangement for suitable and speedy home delivery. This is coupled with the current technological advancements, which are supporting the market's growth during the forecast period. The increasing demand from emerging nations will support the market's expansion. Furthermore, in the last couple of years the mandate for long-distance freight trucking has augmented and creating lucrative prospects for the global freight trucking market.
Manufacturers in the Freight Trucking are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Global Freight Trucking Market Segmentation Analysis
By Applications market is segmented into Oil and Gas, Industrial and Manufacturing, Defense, Energy and Mining, Chemicals, Pharmaceuticals and Healthcare, Food Beverages, and Others. Oil and Gas segment is expected to exhibit highest global market share at a CAGR of XX% over forecast period. 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. The numerous types of freight trucks in the market are flatbed truck, truck trailer, lorry tank, and refrigerated truck. The refrigerated truck is predicted to rise at the leading CAGR over the assessment period. The growing of the segment has been underpinned by increasing volumes of transport coming from perishable commodities.
Global Freight Trucking Market Regional Analysis
On the basis of region the global freight trucking market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America. The significantly rising uptake of freight trucking in its various economies is driving the regional market. Asia Pacific region, which includes of China, India, and Japan was the major revenue contributor to the global freight trucking market in 2017. Furthermore, North America accounted for the second largest market share in the global Freight Trucking market during the forecast period.
The objective of the report is to present comprehensive analysis of Global Freight Trucking Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Freight Trucking Market dynamics, structure by analyzing the market segments, and project the Global Freight Trucking Market size. Clear representation of competitive analysis of key players by Freight Trucking Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Freight Trucking Market make the report investor’s guide.
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