Freight trucking is part of the logistics and supply industry, known as the process of transporting heavy goods, commodities, and cargo to different destinations or channels. The vehicles used in the process are heavy-duty and suitable to transport heavy goods in bulk. Different vehicles are used for transportation depending on the quantity and size of goods. Many industries have experienced the disruptive impact of the Covid-19 Pandemic and the freight trucking industry is no exception to that. As there were restrictions on the movement of goods and people, many businesses relating to Logistics as well as manufacturing were temporarily shut down. This not only disrupted the freight trucking market, but also led to a shortage of required vehicles in the post-covid period.
Over the years, there has been an increase in international trade and thus, there is a growing demand for freight trucking across different industries like manufacturing, construction, oil and gas, and mining. The development of the E-commerce sector, industrialization, and rise in imports and exports are expected to be the primary drivers of the freight trucking market in the future.
However, the lack of efficient transport facilities and higher costs in various developing and less-developed countries can be a restraint to the development of this market globally. Apart from that, some countries like Japan have very stringent emission control laws which can also hinder the growth of the freight trucking market.
There are several competitive players in the market which include A.P. Moller – Maersk, CMA CGM, CEVA Logistics, Cargo Carriers, FedEx, Deutsche Post, Nippon Express, ESTES Express Lines, Saia Motor Freight Line, and many others. The major companies in the market are taking strategic initiatives, like investing in Research & development, new product launches, and acquisitions to get a competitive edge against their rivals. There is an increased use of telematics in the sector, which is also adding to the efficiency and growth of the market. In addition to this, in the wake of rising environmental concerns, some companies are also shifting towards the use of Electric Vehicles for sustainable transportation. A leading logistics company, Jet Freight Logistics, has already expressed its intentions to use Electric Vehicles to deploy last-mile delivery.
The freight truck market can be segmented by type of vehicles that include lorry tanks, refrigerated trucks, truck trailers, and flat-bed trucks, by end-user like oil & gas, manufacturing, defense, healthcare, food and beverages, and energy. The market can also be segmented by distance covered which includes less than 50 miles, 51 to 100 miles, 100 to 200 miles, and 200 to 500 miles, and geographically it is segmented into North America, Europe, Asia Pacific, and the rest of the world.
By Type Of Vehicle
Oil & Gas
Food And Beverages
Energy & Mining
Less than 50 Miles
51 To 100 Miles
100 To 200 Miles
200 To 500 Miles
More than 500 miles
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
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