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$1,833.9+ Billion Worldwide Truck Transport Industry to 2031 - Emerging Markets are Expected to Continue to Grow Slightly Faster Than the Developed Markets
Global Truck Transport Market
Dublin, Nov. 16, 2022 (GLOBE NEWSWIRE) -- The "Truck Transport Global Market Report 2022: By Application, By Size" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global truck transport market as it emerges from the COVID-19 shut down.
The global truck transport market is expected to grow from $1,663.34 billion in 2021 to $1,833.94 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The market is expected to grow to $2,594.36 billion in 2026 at a compound annual growth rate (CAGR) of 9.1%.
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Major companies in the truck transport market include Xiamen C&D, Cargill Incorporated, FedEx Corporation, United Parcel Service Inc., Toyota Motor Corp, C.H. Robinson Worldwide Inc, XPO Logistics Inc., J. B. Hunt Transport Services, A.P. Moller-Marsk A/S, and YRC Worldwide Inc.
The truck transport market consists of sales of truck transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide over-the-road transportation of cargo using motor vehicles, such as trucks and tractor-trailers. This market does not include household and office goods transportation services.
The main types in the truck transport market are general freight trucking and specialized freight trucking. General freight trucking is specialized in handling and transporting goods in a container locally or in long distances. The market is also segmented by size into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others.
Asia Pacific was the largest region in the truck transport market in 2021. North America was the second largest region in the truck transport market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Faster Economic Growth -The truck transport market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in end-user markets, thereby driving the market during the forecast period.
Fleet regionalization is being widely adopted by truck transportation companies to reduce operational costs and increase transportation efficiencies. As a result, companies involved in the truck transportation business are gradually shifting their services from international and national levels to the regional level. Regionalization of fleets enables truck transportation companies to increase operational efficiencies and reduce costs, improving driver and truck turnaround time. Major advantages of fleet regionalization include increased ports of entry, intermodal system capabilities, and shorter travel distances.
The countries covered in the truck transport market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Truck Transport Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Truck Transport Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Truck Transport Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Truck Transport Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Truck Transport Market Trends And Strategies
8. Impact Of COVID-19 On Truck Transport
9. Truck Transport Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Truck Transport Market Regional Analysis
10.1. Global Truck Transport Market, 2021, By Region, Value ($ Billion)
10.2. Global Truck Transport Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region
10.3. Global Truck Transport Market, Growth And Market Share Comparison, By Region
11. Truck Transport Market Segmentation
11.1. Global Truck Transport Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
General Freight Trucking
Specialized Freight Trucking
11.2. Global Truck Transport Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Oil & Gas
Industrial & Manufacturing
Energy & Mining
Food & Beverages
Pharmaceuticals & Healthcare
Other Applications
11.3. Global Truck Transport Market, Segmentation By Size, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Heavy Trucks
Medium Trucks
Light Trucks
12. Truck Transport Market Segments
12.1. Global General Freight Trucking Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Local General Freight Trucking; Long-Distance General Freight Trucking
12.2. Global Specialized Freight Trucking Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Automobiles And Heavy Equipment; Bulk Liquids; Dry Bulk Materials; Forest Products; Refrigerated Goods
13. Truck Transport Market Metrics
13.1. Truck Transport Market Size, Percentage Of GDP, 2016-2026, Global
13.2. Per Capita Average Truck Transport Market Expenditure, 2016-2026, Global
For more information about this report visit https://www.researchandmarkets.com/r/dt69o1
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