Long-Distance General Freight Trucking Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Long-distance general freight trucking is a mode of transportation that uses motor vehicles such as trucks to transport a variety of commodities, which are generally palletized and transported in a container or van trailer for carriage of domestic and commercial goods, typically between metropolitan areas and may cross country borders.

Sizing and Forecast

The long-distance general freight trucking market size has grown rapidly in recent years. It will grow from $832.99 billion in 2023 to $924.43 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to expansion of the long-distance general freight trucking, growth of e-commerce, shortage of qualified truck drivers, high levels of competition and strong economic growth in emerging markets.

The long-distance general freight trucking market size is expected to see rapid growth in the next few years. It will grow to $1358.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to growing need for efficient and cost-effective transportation, increasing focus on sustainability and reducing carbon emissions, rising urbanization, rising demand for raw materials from the manufacturing industries and surge in oil and gas exports. Major trends in the forecast period include increasing use of tractor-trailer combinations, gradual shift towards more local truck drivers, iot (internet of things) in trucks, truck platooning for efficient and economical operations and use of artificial intelligence (al).

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Segmentation & Regional Insights

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

1) By Services: Truckload Carriers, Less-than-truckload Carriers, Other Transportation Services

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

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

Sub-Segments

By Activities: General long-distance truckload transit, General long-distance less-than-truckload transit, Logistics planning, Container trucking long-distance, Motor freight trucking long-distance

Asia-Pacific was the largest region in the long-distance general freight trucking market in 2023. North America was the second largest region in the long-distance general freight trucking market. The regions covered in the long-distance general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

An increase in the manufacturing output of different industries is expected to drive the growth of the long-distance general freight trucking market. More manufacturing output calls for more trucking to carry the freight from one place to another. For instance, in January 2023, according to Tesla Inc., a US-based automotive and clean energy company, in 2022, the company produced more than 439,000 vehicles and successfully delivered over 405,000 of them, there was a 40% year-on-year growth in vehicle deliveries, totaling 1.31 million. Production also experienced significant growth, increasing by 47% year-on-year to reach 1.37 million vehicles. Thus, the increased manufacturing output, which results in increased trucking for transportation of the finished products, is driving the growth of the long-distance general freight trucking market.

Key Industry Players

Major companies operating in the long-distance general freight trucking market include XPO Inc., YRC Worldwide Inc., FedEx Corporation, JB Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Old Dominion Freight Line Inc., Joe’s Logistics Inc., Universal Truckload Holdings Inc., Reynolds Logistics Inc., Carolina Cargo Freight Expediters LLC, Spirit Truck Lines Inc., Kivi Bros Trucking Inc., Mangino Holding Corporation, Duncan and Son Lines Inc., GFA Alabama Inc., C&S Wholesale Grocers, Kenan Advantage Group Inc., Universal Logistics Holdings Inc., Ceva Logistics Us Holdings Inc., Lynden Air Cargo, Hub Group Inc., Aaa Cooper Transportation, Charlotte Truck Center Inc., Estes Express Lines, TForce Freight, ABF Freight System Inc., R+L Carriers Inc., Saia Motor Freight Line LLC, Central Transport International Inc., Oak Harbor Freight Lines Inc., Daylight Transport, New Penn Motor Express LLC, New England Motor Freight Inc., A. Duie Pyle Inc., USF Reddaway Inc., Roadrunner Transportation, Pitt Ohio Transportation Group, Dayton Freight Lines Inc., Forward Air Corporation, Averitt Express, Southeastern Freight Lines

The long-distance general freight trucking market report table of contents includes:

Executive Summary
Long-Distance General Freight Trucking Market Characteristics
Long-Distance General Freight Trucking Market Trends And Strategies
Long-Distance General Freight Trucking Market – Macro Economic Scenario
Global Long-Distance General Freight Trucking Market Size and Growth

Global Long-Distance General Freight Trucking Market Competitive Benchmarking
Global Long-Distance General Freight Trucking Market Competitive Dashboard
Key Mergers And Acquisitions In The Long-Distance General Freight Trucking Market
Long-Distance General Freight Trucking Market Future Outlook and Potential Analysis
Appendix

Top Major Players: