Local General Freight Trucking Global Market Report 2021: Long-term Forecast to 2025 & 2030
DUBLIN, Sept. 7, 2021 /PRNewswire/ -- The "Local General Freight Trucking Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global local general freight trucking market is expected to grow from $111.84 billion in 2020 to $125.24 billion in 2021 at a compound annual growth rate (CAGR) of 12%. The market is expected to reach $170.8 billion in 2025 at a CAGR of 8.1%.
Major players in the local general freight trucking market are YRC Worldwide Inc; JB Hunt Transport Services Inc.; FedEx Corporation; XPO Logistics Inc; Knight-Swift Transportation Holdings Inc; American Rail Center Logistics; DHL; United Parcel Service; Challenger Motor Freight Inc; and Creed Freight System.
The local general freight trucking market consists of sales of local general freight trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide local general freight trucking services. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer.
Local general freight trucking establishments usually provide trucking within a metropolitan area which may cross state lines. Generally, the trips are same-day return. Only goods and services traded between entities or sold to end consumers are included.
The integration of the Internet of Things (IoT) in the transportation sector is a key trend gaining popularity in the local general freight trucking market. The IoT is expected to change the transport sector by gathering data and vital information from market and technology developments related to data analytics and automation of mobility and provide benefit in fleet management and location tracking. Companies around the world are finding more interesting ways to take advantage of the Internet of Things for greater productivity and efficiency.
The increase in e-commerce sales is expected to fuel the growth of the local freight trucking market in the coming years. E-Commerce refers to the purchasing and sale of products and services on the Internet. The e-commerce industry relies on trucking to move their items from one location to another and impacts the trucking industry directly. The increase in e-commerce sales increases the demand to transport the goods and thereby drives the growth of the local freight trucking market.
The impact of COVID19 is expected to limit the growth of the local freight trucking market in the coming years. The transportation industry faces severe challenges due to coronavirus with disruption in the supply chain. A decrease in demand led to a fall in the supply of raw material or end-products such as restaurant supply, live event equipment, among others.The prevalence of COVID-19 restrains the growth of the local freight trucking market.
Key Topics Covered:
1. Executive Summary
2. Local General Freight Trucking Market Characteristics
3. Local General Freight Trucking Market Trends and Strategies
4. Impact of COVID-19 on Local General Freight Trucking
5. Local General Freight Trucking Market Size and Growth
5.1. Global Local General Freight Trucking Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Local General Freight Trucking Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Local General Freight Trucking Market Segmentation
6.1. Global Local General Freight Trucking Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Truckload transportation
- Less-than-truckload transportation
- Intermodal transportation
- Dry-bulk transportation
- Other
6.2. Global Local General Freight Trucking Market, Segmentation by Size, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Heavy Trucks
- Medium Trucks
- Light Trucks
6.3. Global Local General Freight Trucking Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Oil & Gas
- Industrial & Manufacturing
- Energy & Mining
- Food & Beverages
- Pharmaceuticals & Healthcare
- Others
7. Local General Freight Trucking Market Regional and Country Analysis
7.1. Global Local General Freight Trucking Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Local General Freight Trucking Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- YRC Worldwide Inc
- JB Hunt Transport Services Inc.
- FedEx Corporation
- XPO Logistics Inc
- Knight-Swift Transportation Holdings Inc
- American Rail Center Logistics
- DHL
- United Parcel Service
- Challenger Motor Freight Inc
- Creed Freight System
- JR Traffic Service
- LEASE-SERV TRANSPORTATION
- Schneider national
- Landstar
- Swift Transportation
For more information about this report visit https://www.researchandmarkets.com/r/5cwh61
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SOURCE Research and Markets
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