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Freight Trucking Market: A Multi-Trillion Dollar Industry Set to Soar, Forecasts Predict USD 3.43 Trn by 2031 
Freight Trucking Market
Increase in demand for door-to-door transportation due to growth in e-commerce platforms, and rise in military cargo transportation
WILMINGTON, DELAWARE , UNITED STATES, October 14, 2023 /EINPresswire.com/ — According to a Comprehensive Research Report by Transparency Market Research “Freight Trucking Market Information by Vehicle Type, End Use, and Region – Forecast till 2031”, Freight Trucking Market Size was valued at USD 2.06 Trn in 2021. The Freight Trucking market industry is projected to grow from USD 3.43 Trn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2022 – 2031).
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Market Drivers:
The Freight Trucking Market is expected to witness significant growth in the coming years due to various market-driving factors. One of the primary factors driving the market growth is the increasing demand for e-commerce and online retail services. As the retail industry is shifting towards e-commerce, there has been a surge in demand for last-mile delivery services, which are primarily carried out by freight trucks. This trend is expected to continue in the coming years, leading to an increased demand for freight trucking services.
Another significant factor driving the Freight Trucking Market is the growth of the manufacturing and construction industries. These industries rely heavily on transportation services to move raw materials and finished goods to different locations. As the manufacturing and construction sectors continue to grow, the demand for transportation services is also expected to increase, thereby driving the growth of the Freight Trucking Market.
Growth of E-commerce Sector and Need for Door-To-Door Transportation Driving Freight Trucking Market
The e-commerce sector has created lucrative opportunities for dry van trucking. Getting things at fingertips has become a key trend owing to the ever evolving technologies, smartphones, and internet. This has resulted in significant growth in the door-to-door transportation industry. Increase in demand for consumer goods is also key factor propelling the demand for fright trucking transportation. Rise in demand for food and food-related products due to the growth in population has led to a significant increase in demand for refrigerated trucking.
Companies Profile
A.P. Moller Maersk, Canadian National, CEVA Logistics, CMA CGM, DB SCHENKER, Deutsche Post, DHL Paket GmbH, Estes Express Lines, FedEx Corporation, Kuehne + Nagel, Nippon Express Co., Ltd., R+L Carriers, Saia Motor Freight Line, SNCF Geodis, Swift Transportation, TNT Holding B.V., UPS Freight, XPO Logistics, Yamato Holdings Co., Ltd., and YRC Worldwide Inc.
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Market Segmentation
Truck Type
Lorry Tank
Truck Trailer
Refrigerated Truck
Flat Bed Truck
Others
Distance
50 Miles or Less
51 to 100 Miles
101-200 Miles
201-500 Miles
Above 500 Miles
Cargo Type
Dry Bulk Goods
Oil & Diesel
Postal
Others
Which regions are leading the Freight Trucking Market?
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Some of the Key Questions Scrutinized in the study are
What are some of the recent brand building activities of key players undertaken to create customer value in the Aldosterone Receptor Freight Trucking market?
Which companies are expanding litany of products with the aim to diversify product portfolio?
Which companies have expanded their horizons by engaging in long-term societal considerations?
Which firms have bucked the pandemic trend and what frameworks they adopted to stay resilient?
What are the marketing programs for some of the recent product launches?
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Nikhil Sawlani
Transparency Market Research Inc.
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