The Specialized Freight Trucking Global Market Report 2023 by The Business Research Company, provides specialized freight trucking market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Specialized Freight Trucking Global Market Report 2023, the market size grew from $980.5 billion in 2022 to $1061.49 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The specialized freight trucking market is expected to grow to $1418.06 billion in 2027 at a CAGR of 7.5%.
The specialized freight trucking market’s growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market’s growth. Developed economies are also expected to register stable growth during the forecast period.
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The specialized freight trucking market is segmented:
1) By Type: Automobiles And Heavy Equipment, Bulk Liquids, Dry Bulk Materials, Forest Products, Refrigerated Goods
2) By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Other Applications
3) By Size: Heavy Trucks, Medium Trucks, Light Trucks
Truck transportation companies are widely using collision mitigation technology to reduce the loss of lives and damage associated with accidents. The collision mitigation system detects the impending strike and alerts the driver about any collision. These systems are installed within the vehicle and, in the event of an imminent accident, they can take action automatically without the driver’s input. These systems are becoming a standard inbuilt feature on many new trucks in many countries globally. For instance, according to US Department of Transportation data, twenty automakers pledged to voluntarily equip virtually all new passenger vehicles by 2022 with a low-speed AEB system that includes forward collision warning (FCW), technology proven to help prevent and mitigate front-to-rear crashes. The agency stated that this could prevent nearly 2000 crashes every year. Major companies manufacturing these systems for trucks include Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., and General Electric Company.
The specialized freight trucking market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Specialized Freight Trucking Market Characteristics
4. Specialized Freight Trucking Market Product Analysis
4.1. Leading Products/ Services
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20. Specialized Freight Trucking Market Competitive Landscape
21. Key Mergers And Acquisitions In The Specialized Freight Trucking Market
22. Market Background: Truck Transportation Market
23. Recommendations
24. Appendix
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