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 observed in the historical period can be attributed to the expansion of long-distance general freight trucking, the proliferation of e-commerce, challenges related to the shortage of qualified truck drivers, intense competition within the industry, and robust 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 anticipated growth in the forecast period can be attributed to several key factors, including the escalating demand for efficient and cost-effective transportation solutions, a heightened emphasis on sustainability and carbon emissions reduction, the ongoing trend of urbanization, a growing need for raw materials by the manufacturing sector, and a surge in oil and gas exports. Significant trends expected in the forecast period include the increased utilization of tractor-trailer combinations, a gradual shift towards employing more local truck drivers, the integration of IoT (Internet of Things) technology in trucks, the implementation of truck platooning for more efficient and economical operations, and the adoption of artificial intelligence (AI) in the industry.

Increased output in various manufacturing sectors is anticipated to be the driving force behind the expansion of the long-distance general freight trucking market. A rise in manufacturing output necessitates a greater need for trucking services to transport finished products from one destination to another. In January 2023, Tesla Inc. reported a notable surge in their production, achieving a total output of over 1.37 million vehicles, marking a substantial year-on-year increase. This enhanced manufacturing output, leading to a heightened requirement for freight transportation, is a primary catalyst for the growth of the long-distance general freight trucking market.

The primary services within the long-distance general freight trucking market comprise general long-distance truckload carriers, general long-distance less-than-truckload carriers, and other related transportation services. General long-distance truckload carriers specialize in transporting general freight over long distances between metropolitan areas. Within this market, the offerings are categorized into various activities, including general long-distance truckload transit, general long-distance less-than-truckload transit, logistics planning, container trucking for long-distance hauls, and motor freight trucking for long-distance transportation. Furthermore, the market is categorized by the size of trucks used, which can be heavy, medium, or light trucks, and by the specific application or industry served, such as oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, as well as other sectors.

The long-distance general freight trucking market research report is one of a series of new reports that provides long-distance general freight trucking market statistics, including long-distance general freight trucking global market size, regional shares, competitors with a long-distance general freight trucking market share, detailed long-distance general freight trucking market segments, market trends and opportunities, and any further data you may need to thrive in the long-distance general freight trucking industry. This long-distance 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 escalating prominence of e-commerce platforms and expanded warehouse infrastructure is expected to significantly fuel the advancement of the long-distance general freight trucking market. The indispensable role of long-distance general freight trucking is vivid in its support of E-commerce and warehouse operations, ensuring the seamless distribution and transportation of goods across extensive geographic regions. Data from the International Trade Administration in September 2022 revealed a substantial boost in the UK's e-commerce market, reaching an annual revenue of over $120 billion, a pivotal shift where 82% of the UK population engaged in online purchases in 2021. This uptick in e-commerce transactions and expanded warehouse facilities is a key driver for the burgeoning long-distance general freight trucking market.

Travel restrictions and lockdown mandates due to the COVID-19 pandemic are adversely impacting the growth trajectory of the long-distance general freight trucking market. Stringent restrictions during the lockdown period have severely hindered freight movement, escalating operational costs and intensifying concerns among drivers and crew members. An analysis conducted by Geotab Inc. highlighted a substantial decline in commercial transport activities in the United States, specifically between March and May 2020, reflecting a significant drop in the overall commercial transport operations. Such limitations are particularly profound in federal regions like New York and New Jersey, where commercial transport activity hovers at approximately 66% of standard levels. The influence of these factors, namely travel restrictions and lockdown measures, is distinctly impeding the progress of the long-distance general freight trucking market.

Electric trucks are becoming a prominent choice within the long-distance general freight trucking market, driving the market's growth. These trucks are being extensively ordered by retailers and transportation companies for beverage routes and last-mile deliveries. In September 2020, Amazon purchased 10 electric trucks from Lion Electric and made a substantial order of 100,000 electric delivery vans from Rivian, expecting deliveries from 2021 to 2024.

Leaders in the long-distance general freight trucking market are directing their efforts toward the development of cutting-edge hardware and software suites such as Vaux, aiming to achieve a competitive advantage. Vaux is an innovative technology designed to streamline the transportation of goods. This technology amalgamates hardware and software, offering insights into goods transportation within warehouse facilities, loading docks, and on roads. For instance, in March 2023, ArcBest Corporation launched Vaux, revolutionizing freight handling processes by enabling rapid unloading of an entire trailer within a remarkably short span, thus enhancing operational efficiency and minimizing handling times.

In July 2023, Knight-Swift Transportation Holdings Inc. completed the acquisition of U.S. Xpress Enterprises Inc. for $808 million. This strategic move was aimed at expanding Knight-Swift Transportation's market presence, reaching out to more professional drivers, expanding the customer base, and ultimately boosting the company's earnings. U.S. Xpress Enterprises Inc. is a prominent player in the field of long-distance general freight trucking.

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

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

The countries covered in the long-distance general freight trucking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The long-distance general freight trucking market includes revenues earned by entities by providing transportation services for local pickup of goods to deliver them to the customer. 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 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.


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