The latest report on Freight Trucking Market by Infinium Global Research gives complete coverage of the Freight Trucking Market by cargo type (oil and diesel, dry bulk goods, postal and others), type (truck trailer, flatbed, lorry tank, refrigerated truck), end-user (industrial and manufacturing, energy and mining, chemicals, pharmaceutical, and healthcare) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of Freight Trucking such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Increasing Urbanization and Rise in the Trade Volume Has Resulted in an Increase in the Transport Volumes
Freight trucking is the physical process of transporting commodities and merchandise goods. Amongst all the modes, rail and road transport are the most significant modes for freighting. The modal share between these two has changed over the years, from the 80% rail share in 1950-51 to the road share becoming 65% in 2011-12.
Road accounts for 86% of the freight transport while the other modes account for 14%. The main advantage of freight transportation is that it can be cheaper than other modes of transportation for short hauls (less than 400 mi, or 640 km). It can also be cheaper for small shipments regardless of distance.
Rising the popularity of online shopping and speedy growth in the internet retailing market drives the growth of the freight trucking market. In addition, increasing urbanization and a rise in the trade volume have resulted in an increase in transport volumes. However, underdeveloped infrastructure in emerging countries is likely to restrain the growth of the market.
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Technological Advancements are Providing Several Growth Opportunities for the Key Players in the Freight Trucking Industry
Furthermore, Freight trucks are now equipped with GPS tracking, temperature-controlled compartments, flatbed and load-to-road service, and a variety of additional capabilities. Hence, technological advancements are providing several growth opportunities for the key players in the freight trucking market over the upcoming years.
Among the geographies, the Asia Pacific region dominates the global freight trucking market followed by the North America region. The growth in the Asia Pacific region is due to the largest revenue contributing countries such as India China and Japan. China is the manufacturing hub of electronic equipment an component, moreover, this region also houses many OEM manufacturers, owing to China is the major exporter of electronic systems & components and OEM parts. India is also anticipated to become the leading region in the freight trucking owing to government policy such as Make in India which in turn, can create manufacturing business opportunities in this region. Also, India is a large country with vast sales & distribution network which will eventually help to boost freight trucking business.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Freight Trucking.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.