The Long-Distance General Freight Trucking Global Market Report 2024 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 (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Long-Distance General Freight Trucking Global Market Report 2024, 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).
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.
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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
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
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- 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
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