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Request Now !A freight truck, also referred as a heavy-duty vehicle, is used to transport goods from one place to another. It is widely used in logistics services and is very ideal for off-road driving. Advanced and high-powered engine freight trucks can easily transport bulk load. They have high carrying capacity and can be further divided into six parts, semi-trailer truck, straight truck, jumbo truck, tail-lift truck, truck trailer, and flatbed truck. Therefore, its advantages are expected drive the growth of the freight trucking market over the forecast period.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast unit | Value (USD) |
Segments covered | Type, Size, Cargo, and End-user |
Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
Companies covered | A.P. Moller Maersk, Canadian National, CEVA Logistics, CMA CGM, DB SCHENKER, Deutsche Post, DHL Paket GmbH, Estes Express Lines, FedEx Corporation, and Kuehne & Nagel |
Speedy growth of the internet retailing market and technological advancements are expected to propel the growth of the freight trucking market. However, underdeveloped infrastructure in emerging countries restrains the growth of the freight trucking market. Furthermore, technological advancements equipped with GPS tracking, temperature-controlled compartments, and flatbed & load-to-road service are expected to provide lucrative opportunities for the freight trucking market.
The freight trucking market trends are as follows:
The e-commerce market has witnessed significant growth in the past few years due to increase in the number of people using the internet, where every product is available a few clicks away. This has attracted customers toward the e-commerce market, which boosted the growth of the transportation market as ordered products are shipped by using these means. Hence, with the significant growth of the online retailing market, the freight trucking market is also expected to boost over the forecast period.
Truck manufacturers are rolling out new truck models with improved cargo space and technologies. To enhance the performance and functionality of the vehicle, several truck manufacturers lean toward advanced technologies. Increase in demand for freight trucks has also compelled freight trucking manufacturers to integrate new tracking technologies to maintain their spot in the future. Therefore, this is estimated to boost the freight trucking market over the forecast period.
Key segments covered:
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Key benefits of the report:
Questions answered in the freight trucking market research report:
Key Market Segments
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Key Market Players
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