General Freight Trucking Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The General Freight Trucking by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s General Freight Trucking, The general freight trucking market size has grown strongly in recent years. It will grow from $964.36 billion in 2023 to $1058.22 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%.  The  growth in the historic period can be attributed to increase in oil and gas exports, increasing government support, and growth in the healthcare industry..

The general freight trucking market size is expected to see strong growth in the next few years. It will grow to $1502.83 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.  The growth in the forecast period can be attributed to growing e-commerce sales, rising demand for food products, rising demand for raw materials from the manufacturing industries and rising urbanization. Major trends in the forecast period include truck platooning for efficient and economical operations, use of artificial intelligence (ai) in trucks, iot (internet of things) in trucks, fleet management software, and strategic partnerships and collaborations..

Increase in use of telematics in automotive sector is expected to propel the growth of general freight trucking market. Telematics is a combination of telecommunications and informatics, and it refers to the use of communication and information technology to transport, save, and receive data between devices and remote objects over a network. Telematics has grown into a critical tool in the trucking and transportation industries, providing fleet managers with crucial data about their vehicles and drivers. For instance, in January 2021, Mix Telematics, a South Africa-based software company, announced the launch of MyMiX Tracking. A new app-based tracking solution for fleets, designed to provide real-time monitoring capabilities to improve driver safety and manage risks. This solution has been crafted to offer real-time monitoring features, assisting clients in enhancing driver safety and risk management. It is a GPS fleet tracking solution accessible through a mobile app, empowering drivers to self-correct unsafe driving habits. Therefore, increase in use of telematics in automotive sector is expected to propel the growth of general freight trucking market.

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The general freight trucking market covered in this report is segmented –

1) By Type: Local General Freight Trucking, Long-Distance General Freight Trucking

2) By Size: Heavy Trucks, Medium Trucks, Light Trucks

3) By Application: Oil And Gas, Industrial And Manufacturing, Energy And Mining, Food And Beverages, Pharmaceuticals And Healthcare, Other Applications

Major companies operating in the general freight trucking market are developing new innovative technologies, such as AI based transportation system to provide reliable services to the customers. AI-based transportation systems refer to the use of artificial intelligence (AI) technologies in the transportation industry to improve traffic safety, efficiency, and passenger experience. For instance, in December 2022, CJ Logistics Corporation, a South Korea-based logistics company, launched The Unban. It is a uniquely designed platform for freight transportation that uses big data and artificial intelligence to link senders and freight trucks directly. The platform enables a goods truck owner to choose a transportation offer after a bidder uploads information about the location of departure, destination, and type of cargo.

The general freight trucking market report table of contents includes:

 

1. Executive Summary
2. General Freight Trucking Market Characteristics
3. General Freight Trucking Product/Service Analysis -Product/Service Examples
4. General Freight Trucking Market Trends And Strategies
5. General Freight Trucking Market – Macro Economic Scenario

 

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68. Global General Freight Trucking Market Competitive Benchmarking
69. Global General Freight Trucking Market Competitive Dashboard
70. Key Mergers And Acquisitions In The General Freight Trucking Market
71. General Freight Trucking Market Future Outlook and Potential Analysis
72. Appendix

Top Major Players:

• United Parcel Service
• Deutsche Post AG
• FedEx Corporation
• H. Robinson Worldwide
• B. Hunt Transport ServicesContact Us:

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