The local general freight trucking market size has grown marginally in recent years. It will grow from $131.36 billion in 2023 to $133.79 billion in 2024 at a compound annual growth rate (CAGR) of 1.8%. The growth observed in the historical period can be attributed to several factors, including economic growth in emerging markets, expansion in the building and construction sector, and an increase in disposable income.
The local general freight trucking market size is expected to see marginal growth in the next few years. It will grow to $144.45 billion in 2028 at a compound annual growth rate (CAGR) of 1.9%. The anticipated growth in the forecast period can be attributed to the increasing sales in e-commerce, a rise in urbanization, and growing demand for raw materials from the manufacturing industries. Key trends expected during this period include the use of artificial intelligence (AI), a focus on the Internet of Things (IoT), increased mergers and acquisitions, rising investments, and a surge in partnerships and collaborations.
The anticipated growth of the local freight trucking market in the forecast period is driven by the increasing sales in the e-commerce sector. E-commerce, involving online transactions for buying and selling goods and services, heavily relies on trucking for the transportation of items between locations. For example, in September 2022, the International Trade Administration reported that consumer e-commerce accounts for 30% of the UK's overall retail sector, representing a substantial increase from 20% in 2020. This surge in e-commerce sales, totaling more than $120 billion annually, amplifies the demand for efficient goods transportation, consequently fueling the growth of the local freight trucking market.
The growth of the local general freight trucking market is expected to be propelled by the increasing number of goods deliveries. The term 'goods delivery' refers to the process of transporting and supplying products to their intended destinations. Local general freight trucking plays a pivotal role in facilitating swift and cost-effective deliveries within specific geographic regions, addressing the immediate needs of businesses and consumers. For instance, Tesla Inc. reported a notable year-on-year growth in vehicle deliveries, reaching over 405,000 deliveries out of more than 439,000 produced vehicles in 2022. This rise in the number of goods deliveries is a significant factor driving the expansion of the local general freight trucking market.
A prominent trend in the local general freight trucking market is the integration of the Internet of Things (IoT) into the transportation sector. The IoT is poised to revolutionize the transport industry by collecting data related to market and technological advancements, employing data analytics, and automating mobility processes. Companies worldwide are leveraging IoT for improved productivity and efficiency, with applications ranging from data gathering to fleet management and location tracking. For instance, Kuehne + Nagel, a Swiss-based transport and logistics company, utilizes IoT for freight monitoring, providing real-time alerts about temperature, humidity, pressure, shock, and tilt at the parcel level.
Major players in the local general freight trucking market are strategically developing innovative hardware and software solutions, exemplified by products such as Vaux, to gain a competitive edge. Vaux represents a cutting-edge technology designed to streamline the transportation of goods by revolutionizing processes such as loading, unloading, and freight transfer. Combining both hardware and software elements, Vaux offers comprehensive visibility into freight movements within warehouse facilities, on loading docks, and during road transportation. Launched by ArcBest Corporation in March 2023, Vaux significantly enhances operational efficiency by enabling rapid unloading of an entire trailer's contents in less than five minutes, minimizing handling durations and optimizing logistics management.
Major companies operating in the local general freight trucking market report are FedEx Corporation, Deutsche Post DHL Group, Yellow Corporation, C.H. Robinson Worldwide Inc., Old Dominion Freight Line Inc., XPO Logistics Inc., Landstar System Inc., Knight Swift Transportation Holdings Inc., Schneider National, Inc., JB Hunt Transport Services Inc., Luzhou Litong Industry Co., Ltd., Yibin Dahuang Logistics Co., Ltd., Infinity Cargo Logistics (China) Limited, YAMATO TRANSPORT CO., Ltd., Nippon Express Company, Ltd., Yamato Transport, Coupang Fulfillment Services Ltd., DONGWON LOEX Co., Ltd., Federal Express Corporation, Oocl Uk Branch, Royal Mail Group Limited, Gxo Logistics Uk Limited, Dhl Freight Gmbh, DHL Express, TNT Expressare and Spares , Van der Vlist Russia, Logistics Ekol Romania, Frigoexpres , S.C. PHARAON SPEED EXPRESS SRL, Pavages J.M. Beaulieu Inc Les, Smart Move Facilities Services Inc., Blackmine Outfitters Trucking Ltd., J & S Services Inc., R & C Weare Logging Ltd., N. W. White & Company, Bayshore Transportation System Inc., Benny Whitehead Inc , Koleaseco Inc., Nippon Express, Rodovitor Transport and Vehicle Rental, Yusen Logistics, Fox Brasil, Panalpina , Maxitrans, Forward Movers, Creek General Transport, Prime Transport LLC, Haulier refrigerated & Chiller Van Transport Dubai , Ardh Al Madina Group, Alpha Omega International Trading Cc, Autocarrier Transport, Fpt Group (Pty) Ltd., Standard Vulcanizers , Atteridgeville Bus Service (Pty) Ltd.
Asia-Pacific was the largest region in the local general freight trucking market in 2023. North America was the second largest region in the local general freight trucking market share. The regions covered in the local general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the local general freight trucking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain. The local general freight trucking market includes revenues earned by entities by providing transportation service for local areas. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The primary types of local general freight trucking include truckload transportation, less-than-truckload transportation, intermodal transportation, dry-bulk transportation, and others. Intermodal transportation involves the movement of large-sized goods through multiple modes of transport, often in containers. The market is further segmented by type into heavy trucks, medium trucks, and light trucks. Additionally, it is categorized by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and other sectors.
The local general freight trucking market research report is one of a series of new reports that provides local general freight trucking market statistics, including local general freight trucking industry global market size, regional shares, competitors with a local general freight trucking market share, detailed local general freight trucking market segments, market trends and opportunities, and any further data you may need to thrive in the local general freight trucking industry. This local general freight trucking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The local general freight trucking market size is expected to see marginal growth in the next few years. It will grow to $144.45 billion in 2028 at a compound annual growth rate (CAGR) of 1.9%. The anticipated growth in the forecast period can be attributed to the increasing sales in e-commerce, a rise in urbanization, and growing demand for raw materials from the manufacturing industries. Key trends expected during this period include the use of artificial intelligence (AI), a focus on the Internet of Things (IoT), increased mergers and acquisitions, rising investments, and a surge in partnerships and collaborations.
The anticipated growth of the local freight trucking market in the forecast period is driven by the increasing sales in the e-commerce sector. E-commerce, involving online transactions for buying and selling goods and services, heavily relies on trucking for the transportation of items between locations. For example, in September 2022, the International Trade Administration reported that consumer e-commerce accounts for 30% of the UK's overall retail sector, representing a substantial increase from 20% in 2020. This surge in e-commerce sales, totaling more than $120 billion annually, amplifies the demand for efficient goods transportation, consequently fueling the growth of the local freight trucking market.
The growth of the local general freight trucking market is expected to be propelled by the increasing number of goods deliveries. The term 'goods delivery' refers to the process of transporting and supplying products to their intended destinations. Local general freight trucking plays a pivotal role in facilitating swift and cost-effective deliveries within specific geographic regions, addressing the immediate needs of businesses and consumers. For instance, Tesla Inc. reported a notable year-on-year growth in vehicle deliveries, reaching over 405,000 deliveries out of more than 439,000 produced vehicles in 2022. This rise in the number of goods deliveries is a significant factor driving the expansion of the local general freight trucking market.
A prominent trend in the local general freight trucking market is the integration of the Internet of Things (IoT) into the transportation sector. The IoT is poised to revolutionize the transport industry by collecting data related to market and technological advancements, employing data analytics, and automating mobility processes. Companies worldwide are leveraging IoT for improved productivity and efficiency, with applications ranging from data gathering to fleet management and location tracking. For instance, Kuehne + Nagel, a Swiss-based transport and logistics company, utilizes IoT for freight monitoring, providing real-time alerts about temperature, humidity, pressure, shock, and tilt at the parcel level.
Major players in the local general freight trucking market are strategically developing innovative hardware and software solutions, exemplified by products such as Vaux, to gain a competitive edge. Vaux represents a cutting-edge technology designed to streamline the transportation of goods by revolutionizing processes such as loading, unloading, and freight transfer. Combining both hardware and software elements, Vaux offers comprehensive visibility into freight movements within warehouse facilities, on loading docks, and during road transportation. Launched by ArcBest Corporation in March 2023, Vaux significantly enhances operational efficiency by enabling rapid unloading of an entire trailer's contents in less than five minutes, minimizing handling durations and optimizing logistics management.
Major companies operating in the local general freight trucking market report are FedEx Corporation, Deutsche Post DHL Group, Yellow Corporation, C.H. Robinson Worldwide Inc., Old Dominion Freight Line Inc., XPO Logistics Inc., Landstar System Inc., Knight Swift Transportation Holdings Inc., Schneider National, Inc., JB Hunt Transport Services Inc., Luzhou Litong Industry Co., Ltd., Yibin Dahuang Logistics Co., Ltd., Infinity Cargo Logistics (China) Limited, YAMATO TRANSPORT CO., Ltd., Nippon Express Company, Ltd., Yamato Transport, Coupang Fulfillment Services Ltd., DONGWON LOEX Co., Ltd., Federal Express Corporation, Oocl Uk Branch, Royal Mail Group Limited, Gxo Logistics Uk Limited, Dhl Freight Gmbh, DHL Express, TNT Expressare and Spares , Van der Vlist Russia, Logistics Ekol Romania, Frigoexpres , S.C. PHARAON SPEED EXPRESS SRL, Pavages J.M. Beaulieu Inc Les, Smart Move Facilities Services Inc., Blackmine Outfitters Trucking Ltd., J & S Services Inc., R & C Weare Logging Ltd., N. W. White & Company, Bayshore Transportation System Inc., Benny Whitehead Inc , Koleaseco Inc., Nippon Express, Rodovitor Transport and Vehicle Rental, Yusen Logistics, Fox Brasil, Panalpina , Maxitrans, Forward Movers, Creek General Transport, Prime Transport LLC, Haulier refrigerated & Chiller Van Transport Dubai , Ardh Al Madina Group, Alpha Omega International Trading Cc, Autocarrier Transport, Fpt Group (Pty) Ltd., Standard Vulcanizers , Atteridgeville Bus Service (Pty) Ltd.
Asia-Pacific was the largest region in the local general freight trucking market in 2023. North America was the second largest region in the local general freight trucking market share. The regions covered in the local general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the local general freight trucking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain. The local general freight trucking market includes revenues earned by entities by providing transportation service for local areas. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The primary types of local general freight trucking include truckload transportation, less-than-truckload transportation, intermodal transportation, dry-bulk transportation, and others. Intermodal transportation involves the movement of large-sized goods through multiple modes of transport, often in containers. The market is further segmented by type into heavy trucks, medium trucks, and light trucks. Additionally, it is categorized by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and other sectors.
The local general freight trucking market research report is one of a series of new reports that provides local general freight trucking market statistics, including local general freight trucking industry global market size, regional shares, competitors with a local general freight trucking market share, detailed local general freight trucking market segments, market trends and opportunities, and any further data you may need to thrive in the local general freight trucking industry. This local general freight trucking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Local General Freight Trucking Market Characteristics3. Local General Freight Trucking Market Trends and Strategies32. Global Local General Freight Trucking Market Competitive Benchmarking33. Global Local General Freight Trucking Market Competitive Dashboard34. Key Mergers and Acquisitions in the Local General Freight Trucking Market
4. Local General Freight Trucking Market - Macro Economic Scenario
5. Global Local General Freight Trucking Market Size and Growth
6. Local General Freight Trucking Market Segmentation
7. Local General Freight Trucking Market Regional and Country Analysis
8. Asia-Pacific Local General Freight Trucking Market
9. China Local General Freight Trucking Market
10. India Local General Freight Trucking Market
11. Japan Local General Freight Trucking Market
12. Australia Local General Freight Trucking Market
13. Indonesia Local General Freight Trucking Market
14. South Korea Local General Freight Trucking Market
15. Western Europe Local General Freight Trucking Market
16. UK Local General Freight Trucking Market
17. Germany Local General Freight Trucking Market
18. France Local General Freight Trucking Market
19. Italy Local General Freight Trucking Market
20. Spain Local General Freight Trucking Market
21. Eastern Europe Local General Freight Trucking Market
22. Russia Local General Freight Trucking Market
23. North America Local General Freight Trucking Market
24. USA Local General Freight Trucking Market
25. Canada Local General Freight Trucking Market
26. South America Local General Freight Trucking Market
27. Brazil Local General Freight Trucking Market
28. Middle East Local General Freight Trucking Market
29. Africa Local General Freight Trucking Market
30. Local General Freight Trucking Market Competitive Landscape and Company Profiles
31. Local General Freight Trucking Market Other Major and Innovative Companies
35. Local General Freight Trucking Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Local General Freight Trucking Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on local general freight trucking market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for local general freight trucking? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Truckload Transportation; Less-Than-Truckload Transportation; Intermodal Transportation; Dry-Bulk Transportation; Other Types
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
Key Companies Mentioned: FedEx Corporation; Deutsche Post DHL Group; Yellow Corporation; C.H. Robinson Worldwide Inc; Old Dominion Freight Line Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- FedEx Corporation
- Deutsche Post DHL Group
- Yellow Corporation
- C.H. Robinson Worldwide Inc
- Old Dominion Freight Line Inc.
- XPO Logistics Inc.
- Landstar System Inc
- Knight Swift Transportation Holdings Inc.
- Schneider National, Inc.
- JB Hunt Transport Services Inc
- Luzhou Litong Industry Co., Ltd
- Yibin Dahuang Logistics Co., Ltd
- Infinity Cargo Logistics (China) Limited
- YAMATO TRANSPORT CO., LTD
- Nippon Express Company, Ltd
- Yamato Transport
- Coupang Fulfillment Services Ltd
- DONGWON LOEX Co., Ltd
- Federal Express Corporation
- Oocl Uk Branch
- Royal Mail Group Limited
- Gxo Logistics Uk Limited
- Dhl Freight Gmbh
- DHL Express
- TNT Expressare and Spares
- Van der Vlist Russia
- Logistics Ekol Romania
- Frigoexpres
- S.C. PHARAON SPEED EXPRESS SRL
- Pavages J.M. Beaulieu Inc Les
- Smart Move Facilities Services Inc
- Blackmine Outfitters Trucking Ltd
- J & S Services Inc
- R & C Weare Logging Ltd
- N. W. White & Company
- Bayshore Transportation System Inc
- Benny Whitehead Inc
- Koleaseco Inc
- Nippon Express
- Rodovitor Transport and Vehicle Rental
- Yusen Logistics
- Fox Brasil
- Panalpina
- Maxitrans
- Forward Movers
- Creek General Transport
- Prime Transport LLC
- Haulier refrigerated & Chiller Van Transport Dubai
- Ardh Al Madina Group
- Alpha Omega International Trading Cc
- Autocarrier Transport
- Fpt Group (Pty) Ltd
- Standard Vulcanizers
- Atteridgeville Bus Service (Pty) Ltd
Methodology
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