What are the latest figures on the long-distance general freight trucking market’s size and projected CAGR?
The long-distance general freight trucking market size has grown rapidly in recent years. It will grow from $940.4 billion in 2024 to $1045.43 billion in 2025 at a compound annual growth rate (CAGR) of 11.2%. 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 strong growth in the next few years. It will grow to $1514.85 billion in 2029 at a compound annual growth rate (CAGR) of 9.7%. 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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Which Market drivers have played a significant role in driving the long-distance general freight trucking market?
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.
What are the key segments within the long-distance general freight trucking market?
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 And Gas, Industrial And Manufacturing, Energy And Mining, Food And Beverages, Pharmaceuticals And Healthcare, Other Applications
Sub-Segments:
1) By Truckload Carriers: Full Truckload (FTL) Services, Dedicated Truckload Services
2) By Less-than-truckload Carriers: Standard LTL Services, Expedited LTL Services, Temperature-sensitive LTL Services
3) By Other Transportation Services: Intermodal Freight Transportation, Specialized Freight Transportation, Freight Brokerage Services
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Which key players are shaping the long-distance general freight trucking market?
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
How will evolving trends contribute to the growth of the long-distance general freight trucking market?
Electric trucks are being increasingly used by the long-distance general freight trucking market for transportation, which is expected to propel the market’s growth. Numerous retailers and transporters are putting in huge orders of electric trucks for beverage routes and last-mile delivery. In September 2020, Amazon bought 10 electric trucks from Lion Electric, and they ordered 100,000 electric delivery vans from startupRivian with deliveries from 2021 to 2024.
What are the key regional dynamics of the long-distance general freight trucking market, and which region leads in market share?
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
What Does The Long-Distance General Freight Trucking Market Report 2025 Offer?
The long-distance general freight trucking market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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