Forest Products Trucking Global Market Report 2024

The forest products trucking market size has grown strongly in recent years. It will grow from $210.58 billion in 2023 to $225.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion observed in the historical period can be linked to several factors, including growth within the timber industry, the operations of logging and lumber mills, increased demand for wood products across various sectors, and ongoing infrastructure development initiatives. These elements collectively contributed to the growth and development of forest products trucking during that time.

The forest products trucking market size is expected to see strongly grown in the next few years. It will grow to $295.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. Anticipated growth in the forecast period is expected to stem from various factors such as the adoption of sustainable logging practices in response to environmental concerns, compliance with evolving environmental regulations, ongoing technological advancements in the industry, and the increased focus on biomass and bioenergy as renewable resources.

A notable surge in the forest products trucking market owing to heightened demand for wood-based raw materials. This surge was predominantly fueled by the construction sector, where wood framing dominated the creation of new homes, representing 92% of constructions compared to concrete's 7%. Notably, 895,000 wood-framed homes were completed in 2021, indicating an 8% increase from the previous year's total.

The future growth trajectory of the forest products trucking market is anticipated to be steered by the expansion of international trade. This facet of trade, characterized by the movement of goods and services between nations, saw a significant upswing in 2021. Global trade value peaked at $28.5 trillion, marking a 25% increase over the previous year. Forest products trucking played a pivotal role in facilitating this surge, efficiently transporting lumber, paper, and other wood-based commodities for export, contributing to global commerce amid sustainability and environmental compliance. A noteworthy trend within the forest products trucking sector is the emergence of electric trucks. Driven by a preference for reduced carbon emissions, customers are increasingly inclined toward environmentally sustainable transport options. An exemplary development in this domain occurred in August 2022 when Svenska Cellulosa AB (SCA) collaborated with Scania to introduce an electric timber truck capable of carrying 80 tons. This innovation signifies a significant step toward achieving a fossil-free society, boasting a lower carbon footprint and aligning with evolving consumer preferences.

Strategic partnerships have emerged as a focal point for major players in the forest products trucking market, driving revenue and operational efficiency. The collaboration trend was evident in October 2023 when Maersk, a prominent logistics company, joined forces with Kodiak Robotics, specializing in autonomous technology. This partnership led to the launch of the first commercial autonomous trucking route between Houston and Oklahoma City. For Maersk, this initiative aligns with their objective of providing comprehensive and sustainable logistics solutions across multiple transportation modes, securing a leading position in pioneering industry innovations.

In July 2021, Knight-Swift Transportation, a USA-based trucking company acquired AAA Cooper for $1.3 billion. Through this acquisition, Knight-Swift will expand its freight handling and geographic capabilities. AAA Cooper Transportation is a US-based trucking company operating in the transportation of woods.

Major companies operating in the forest products trucking market include Good Logistics, Timber Products Company, Fr. Meyer's Sohn (GmbH & Co.) KG, JB Hunt Transport Services Inc., Knight Transportation, CRST International, Leavitt’s Freight Service, Anderson Trucking Service Inc., Mercer Transportation, Prime Inc., Roadrunner Transportation Systems, ArcBest Corporation, XPO Inc., C.H. Robinson Worldwide Inc., Coyote Logistics, Echo Global Logistics Inc., Landstar System Inc., Schneider National Inc., Swift Transportation, Werner Enterprises Inc., Yellow Corporation, Old Dominion Freight Line Inc., Saia Inc., Estes Express Lines, ABF Freight System Inc., FedEx Corporation, TForce Freight.

Asia-Pacific was the largest region in the forest products trucking market in 2023. North America was the second largest region in the forest products trucking market. The regions covered in the forest products trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the forest products trucking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The key segments within the forest products trucking market encompass log transport and chip transport. Log transport involves moving logs from forests to mills, managed by companies specializing in log transportation. The market segments covered in this report are categorized by truck size - ranging from heavy trucks to medium and light trucks - and by application, which includes industries such as oil and gas, industrial manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and other sectors.

The forest products trucking market research report is one of a series of new reports provides forest products trucking market statistics, including forest products trucking industry global market size, regional shares, competitors with a forest products trucking market share, detailed forest products trucking market segments, market trends and opportunities, and any further data you may need to thrive in the forest products trucking industry. This forest products trucking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The forest products trucking market includes revenues earned by entities by providing transportation service for the movement of woods and other raw materials from the forest to the point of processing wood. 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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