Global Truck Transport - Market Overview:
Truck transport, also known as road transport or trucking, is the movement of goods or materials via trucks on roads or highways. Economic growth and increased trade led to a higher demand for trucking services to transport raw materials, finished goods, and other commodities. Truck transport facilitates the distribution of goods between manufacturing facilities, distribution centers, ports, and retail outlets. It offers several advantages, including flexibility, door-to-door delivery, and the ability to access remote or inaccessible areas. Truck transport involves various types of trucks, including semi-trailer trucks, flatbed trucks, refrigerated trucks, tanker trucks, and specialized vehicles for transporting oversized or heavy cargo
As per latest study released by AMA Research, the Global Truck Transport - market is expected to see growth rate of 9.2% and may see market size of USD2030.0 Billion by 2030.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The rapid expansion of e-commerce has led to increased demand for truck transport services
Market Growth Drivers:
Economic expansion and heightened trade activity drive an increased need for trucking services and The growth of emerging markets and urbanization trends drive demand for truck transport services
Challenges:
The availability of qualified drivers is a potential challenge for the trucking industry
Restraints:
Fluctuations in fuel prices and operating costs impact the profitability of trucking operations
Opportunities:
Investments in road infrastructure contribute to the development of trucking networks.
Competitive Landscape:
Truck transportation continues to be a crucial focus for companies due to its unmatched flexibility and cost-effectiveness. Their adaptability to diverse cargo sizes and types makes them suitable for various industries, and their scalability allows companies to adjust their needs based on demand. When it comes to cost, trucks often beat airfreight over short and medium distances, and require less upfront infrastructure investment compared to building rail lines or airports. Advancements in technology are further optimizing routes, fuel efficiency, and telematics, further improving cost-competitiveness. Reliability, predictability, and security are additional perks, offering greater control over goods and shipment integrity. Ultimately, the rise e-commerce market, demanding ever-increasing flexibility and efficiency, further pushes companies towards truck transportation.
Some of the key players profiled in the report are FedEx (Unites States), KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC. (United States), HAVI (Germany), XPO, Inc. (United States), Yellow Corporation (United States), Paige Logistics Ltd. (Canada), Schneider National, Inc. (United States), Dachser Group SE & Co. KG (United Kingdom), McKevitt Trucking Limited (Canada) and NN Logistic (India). Additionally, following companies can also be profiled that are part of our coverage like Landstar System, Inc. (United States), Yangzhou MAXTONE Composite Co., Ltd. (China), J.B. Hunt Transport, Inc. (United States), SF Express Co. Ltd (China) and Brian Kurtz Trucking Ltd. (Canada). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Truck Transport - market by 2030. Considering Market by Size, the sub-segment i.e. Heavy Trucks will boost the Truck Transport - market.
In January 2023, The Adani Group announced plans to introduce hydrogen-fuel cell-operated trucks for mining logistics and transportation. Adani Enterprises has partnered with Ashok Leyland and Canada's Ballard Power to commence a pilot project focused on developing a hydrogen fuel cell electric truck. and In September 2023, Scan Global Logistics (SGL) and Alfa Laval unveiled their inaugural electric Scania truck, marking the commencement of their zero-emissions collaboration. Stemming from a mutual dedication to a more sustainable logistics sector, this new vehicle will spearhead efforts to diminish CO2 emissions in road transport.
Federal Motor Carrier Safety Administration (FMCSA) enforces regulations on the maximum hours truckers can drive within a defined timeframe. A key rule is the 14-hour driving window, which restricts commercial drivers from driving for more than 11 hours within a consecutive 14-hour period.
What Can be Explored with the Truck Transport - Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Truck Transport - Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Truck Transport -
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Truck Transport - market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Truck Transport - market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Automotive Manufacturers, Sellers and Suppliers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User Industry and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.