The long-distance general freight trucking global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Long-Distance General Freight Trucking Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The long-distance general freight trucking market size has grown rapidly in recent years. It will grow from $832.99 billion in 2023 to $924.43 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to expansion of the long-distance general freight trucking, growth of e-commerce, shortage of qualified truck drivers, high levels of competition and strong economic growth in emerging markets.
The long-distance general freight trucking market size is expected to see rapid growth in the next few years. It will grow to $1358.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to growing need for efficient and cost-effective transportation, increasing focus on sustainability and reducing carbon emissions, rising urbanization, rising demand for raw materials from the manufacturing industries and surge in oil and gas exports. Major trends in the forecast period include increasing use of tractor-trailer combinations, gradual shift towards more local truck drivers, iot (internet of things) in trucks, truck platooning for efficient and economical operations and use of artificial intelligence (al).
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Scope Of Long-Distance General Freight Trucking Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Long-Distance General Freight Trucking Market Overview
Market Drivers –
An increase in the manufacturing output of different industries is expected to drive the growth of the long-distance general freight trucking market. More manufacturing output calls for more trucking to carry the freight from one place to another. For instance, in January 2023, according to Tesla Inc., a US-based automotive and clean energy company, in 2022, the company produced more than 439,000 vehicles and successfully delivered over 405,000 of them, there was a 40% year-on-year growth in vehicle deliveries, totaling 1.31 million. Production also experienced significant growth, increasing by 47% year-on-year to reach 1.37 million vehicles. Thus, the increased manufacturing output, which results in increased trucking for transportation of the finished products, is driving the growth of the long-distance general freight trucking market.
Market Trends –
Electric trucks are being increasingly used by the long-distance general freight trucking market for transportation, which is expected to propel the market’s growth. Numerous retailers and transporters are putting in huge orders of electric trucks for beverage routes and last-mile delivery. In September 2020, Amazon bought 10 electric trucks from Lion Electric, and they ordered 100,000 electric delivery vans from startupRivian with deliveries from 2021 to 2024.
The long-distance general freight trucking market covered in this report is segmented –
1) By Services: Truckload Carriers, Less-than-truckload Carriers, Other Transportation Services
2) By Size: Heavy Trucks, Medium Trucks, Light Trucks
3) By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Other Applications
Sub-Segments
By Activities: General long-distance truckload transit, General long-distance less-than-truckload transit, Logistics planning, Container trucking long-distance, Motor freight trucking long-distance
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Regional Insights –
Asia-Pacific was the largest region in the long-distance general freight trucking market in 2023. North America was the second largest region in the long-distance general freight trucking market. The regions covered in the long-distance general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the long-distance general freight trucking market include XPO Inc., YRC Worldwide Inc., FedEx Corporation, JB Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Old Dominion Freight Line Inc., Joe’s Logistics Inc., Universal Truckload Holdings Inc., Reynolds Logistics Inc., Carolina Cargo Freight Expediters LLC, Spirit Truck Lines Inc., Kivi Bros Trucking Inc., Mangino Holding Corporation, Duncan and Son Lines Inc., GFA Alabama Inc., C&S Wholesale Grocers, Kenan Advantage Group Inc., Universal Logistics Holdings Inc., Ceva Logistics Us Holdings Inc., Lynden Air Cargo, Hub Group Inc., Aaa Cooper Transportation, Charlotte Truck Center Inc., Estes Express Lines, TForce Freight, ABF Freight System Inc., R+L Carriers Inc., Saia Motor Freight Line LLC, Central Transport International Inc., Oak Harbor Freight Lines Inc., Daylight Transport, New Penn Motor Express LLC, New England Motor Freight Inc., A. Duie Pyle Inc., USF Reddaway Inc., Roadrunner Transportation, Pitt Ohio Transportation Group, Dayton Freight Lines Inc., Forward Air Corporation, Averitt Express, Southeastern Freight Lines
Table of Contents
1. Executive Summary
2. Long-Distance General Freight Trucking Market Report Structure
3. Long-Distance General Freight Trucking Market Trends And Strategies
4. Long-Distance General Freight Trucking Market – Macro Economic Scenario
5. Long-Distance General Freight Trucking Market Size And Growth
…..
27. Long-Distance General Freight Trucking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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