This report describes and explains the general freight trucking market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global general freight trucking market reached a value of nearly $1.07 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 6.90% since 2019. The market is expected to grow from $1.07 trillion in 2024 to $1.66 trillion in 2029 at a rate of 9.11%. The market is then expected to grow at a CAGR of 8.83% from 2029 and reach $2.53 trillion in 2034.
Growth in the historic period resulted from strong economic growth in emerging markets, rise in oil and gas industry, pharmaceutical industry growth and increasing government support. Factors that negatively affected growth in the historic period were driver shortages in the trucking industry and rising truck insurance costs.
Going forward, increasing urbanization, expansion of the retail and e-commerce industry, expanding road infrastructure and increasing industrialization will drive the growth. Factor that could hinder the growth of the general freight trucking market in the future include supply chain disruptions.
The global general freight trucking market is fragmented, with large number of small players in the market. The top ten competitors in the market made up to 9.95% of the total market in 2023. The market fragmentation can be attributed to the presence of large number of small players in different geographies. DHL Group was the largest competitor with a 1.89% share of the market, followed by FedEx Corporation with 1.34%, C.H. Robinson Worldwide, Inc with 1.29%, J.B. Hunt Transport Services with 1.06%, CMA CGM (Ceva Logistics AG) with 1.04%, A.P. Moller - Maersk with 0.94%, XPO Inc. with 0.80%, Old Dominion Freight Line Inc with 0.60%, Landstar System, Inc with 0.50% and Knight Swift Transportation Holdings Inc. with 0.49%.
Asia Pacific was the largest region in the general freight trucking market, accounting for 29.82% or $320.44 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the general freight trucking market will be Africa and Middle East where growth will be at CAGRs of 12.79% and 11.50% respectively. These will be followed by South America and Asia Pacific where the markets are expected to grow at CAGRs of 10.39% and 10.26% respectively.
The general freight trucking market is segmented by type into local general freight trucking and long-distance general freight trucking. The long-distance general freight trucking market was the largest segment of the general freight trucking market segmented by type, accounting for 85.73% or $921.31 billion of the total in 2024. Going forward, the long-distance general freight trucking segment is expected to be the fastest growing segment in the general freight trucking market segmented by type, at a CAGR of 9.74% during 2024-2029.
The general freight trucking market is segmented by size into heavy trucks, medium trucks and light trucks. The heavy trucks market was the largest segment of the general freight trucking market segmented by size, accounting for 60.10% or $645.9 billion of the total in 2024. Going forward, the heavy trucks segment is expected to be the fastest growing segment in the general freight trucking market segmented by size, at a CAGR of 9.19% during 2024-2029.
The general freight trucking market is segmented by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare and other applications. The industrial and manufacturing market was the largest segment of the general freight trucking market segmented by application, accounting for 25.50% or $274.04 billion of the total in 2024. Going forward, the industrial and manufacturing segment is expected to be the fastest growing segment in the general freight trucking market segmented by application, at a CAGR of 9.56% during 2024-2029.
The top opportunities in the general freight trucking market segmented by type will arise in the long-distance general freight trucking segment, which will gain $544.76 billion of global annual sales by 2029. The top opportunities in the general freight trucking market segmented by size will arise in the heavy trucks segment, which will gain $356.45 billion of global annual sales by 2029. The top opportunities in the general freight trucking market segmented by application will arise in the industrial and manufacturing segment, which will gain $158.57 billion of global annual sales by 2029. The general freight trucking market size will gain the most in the USA at $147.03 billion.
Market-trend-based strategies for the general freight trucking market include development of advanced enterprise resource planning (ERP) software, developing digital freight booking and management platform, focused on IoT to strengthen their position in the market. The Internet of Things (IoT) for trucks refers to the networking of items using, focused on fleet management software, focus into entering into partnership and collaboration and deploying artificial intelligence (AI) and technological advancements.
Player-adopted strategies in the general freight trucking market include focus on expanding operational capabilities through new developments, focus on enhancing business capabilities through restructuring and operational changes and focus on enhancing business operations through strategic collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the general freight trucking companies to focus on developing advanced ERP solutions, focus on developing digital freight booking platforms, focus on implementing IoT solutions, focus on implementing fleet management software, focus on strategic partnerships and collaborations, focus on deploying artificial intelligence in freight operations, focus on the long-distance general freight trucking segment, focus on the heavy trucks segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events and focus on the industrial and manufacturing segment.
The global general freight trucking market reached a value of nearly $1.07 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 6.90% since 2019. The market is expected to grow from $1.07 trillion in 2024 to $1.66 trillion in 2029 at a rate of 9.11%. The market is then expected to grow at a CAGR of 8.83% from 2029 and reach $2.53 trillion in 2034.
Growth in the historic period resulted from strong economic growth in emerging markets, rise in oil and gas industry, pharmaceutical industry growth and increasing government support. Factors that negatively affected growth in the historic period were driver shortages in the trucking industry and rising truck insurance costs.
Going forward, increasing urbanization, expansion of the retail and e-commerce industry, expanding road infrastructure and increasing industrialization will drive the growth. Factor that could hinder the growth of the general freight trucking market in the future include supply chain disruptions.
The global general freight trucking market is fragmented, with large number of small players in the market. The top ten competitors in the market made up to 9.95% of the total market in 2023. The market fragmentation can be attributed to the presence of large number of small players in different geographies. DHL Group was the largest competitor with a 1.89% share of the market, followed by FedEx Corporation with 1.34%, C.H. Robinson Worldwide, Inc with 1.29%, J.B. Hunt Transport Services with 1.06%, CMA CGM (Ceva Logistics AG) with 1.04%, A.P. Moller - Maersk with 0.94%, XPO Inc. with 0.80%, Old Dominion Freight Line Inc with 0.60%, Landstar System, Inc with 0.50% and Knight Swift Transportation Holdings Inc. with 0.49%.
Asia Pacific was the largest region in the general freight trucking market, accounting for 29.82% or $320.44 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the general freight trucking market will be Africa and Middle East where growth will be at CAGRs of 12.79% and 11.50% respectively. These will be followed by South America and Asia Pacific where the markets are expected to grow at CAGRs of 10.39% and 10.26% respectively.
The general freight trucking market is segmented by type into local general freight trucking and long-distance general freight trucking. The long-distance general freight trucking market was the largest segment of the general freight trucking market segmented by type, accounting for 85.73% or $921.31 billion of the total in 2024. Going forward, the long-distance general freight trucking segment is expected to be the fastest growing segment in the general freight trucking market segmented by type, at a CAGR of 9.74% during 2024-2029.
The general freight trucking market is segmented by size into heavy trucks, medium trucks and light trucks. The heavy trucks market was the largest segment of the general freight trucking market segmented by size, accounting for 60.10% or $645.9 billion of the total in 2024. Going forward, the heavy trucks segment is expected to be the fastest growing segment in the general freight trucking market segmented by size, at a CAGR of 9.19% during 2024-2029.
The general freight trucking market is segmented by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare and other applications. The industrial and manufacturing market was the largest segment of the general freight trucking market segmented by application, accounting for 25.50% or $274.04 billion of the total in 2024. Going forward, the industrial and manufacturing segment is expected to be the fastest growing segment in the general freight trucking market segmented by application, at a CAGR of 9.56% during 2024-2029.
The top opportunities in the general freight trucking market segmented by type will arise in the long-distance general freight trucking segment, which will gain $544.76 billion of global annual sales by 2029. The top opportunities in the general freight trucking market segmented by size will arise in the heavy trucks segment, which will gain $356.45 billion of global annual sales by 2029. The top opportunities in the general freight trucking market segmented by application will arise in the industrial and manufacturing segment, which will gain $158.57 billion of global annual sales by 2029. The general freight trucking market size will gain the most in the USA at $147.03 billion.
Market-trend-based strategies for the general freight trucking market include development of advanced enterprise resource planning (ERP) software, developing digital freight booking and management platform, focused on IoT to strengthen their position in the market. The Internet of Things (IoT) for trucks refers to the networking of items using, focused on fleet management software, focus into entering into partnership and collaboration and deploying artificial intelligence (AI) and technological advancements.
Player-adopted strategies in the general freight trucking market include focus on expanding operational capabilities through new developments, focus on enhancing business capabilities through restructuring and operational changes and focus on enhancing business operations through strategic collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the general freight trucking companies to focus on developing advanced ERP solutions, focus on developing digital freight booking platforms, focus on implementing IoT solutions, focus on implementing fleet management software, focus on strategic partnerships and collaborations, focus on deploying artificial intelligence in freight operations, focus on the long-distance general freight trucking segment, focus on the heavy trucks segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events and focus on the industrial and manufacturing segment.
Major Market Trends
- Advancements in ERP Solutions For the Freight Trucking and Logistics Industry
- Digital Freight Platforms Revolutionizing Logistics Efficiency and Customer Experience
- IoT-Enabled Solutions Revolutionizing Freight Trucking and Supply Chain Management
- Enhanced Fleet Management Software To Increase Efficiency
- Strategic Partnerships and Collaborations
- AI-Powered Innovations Transforming the Freight Trucking Industry
Key Mergers and Acquisitions
- AIT Worldwide Logistics Acquired Krupp Trucking
- PS Logistics Acquired Fluker Transportation
- RK Logistics Holdings Acquires on Time Trucking
- DSV a/S Acquired DB Schenker
- CMA CGM Acquired Bolloré Logistics
- Knight-Swift Transportation Holdings Inc. Acquired U.S. Xpress Enterprises Inc.
- L.V. Overseas SAS Acquired Active Freight
- Geodis Acquired International Transport & Shipping Ltd.
- TLSS Acquisition Inc Acquired Freight Connections
- P.a.M. Transportation Services Inc. Acquired Metropolitan Trucking, Inc
- DHL Supply Chain Acquired Glen Cameron Group
- A.P. Moller-Maersk Group Acquired Pilot Freight Services
- JBT Transport Acquired Heritage Transportation
- Boekestijn Acquired V&R Express
Table of Contents
1 Executive Summary
6 Market Characteristics
8 Supply Chain Analysis
9 Customer Information
10 Major Market Trends
11 General Freight Trucking Market - Macro-Economic Scenario
12 Global Market Size and Growth
13 Global General Freight Trucking Market Segmentation
14 General Freight Trucking Market, Regional and Country Analysis
15 Asia-Pacific Market
16 Western Europe Market
17 Eastern Europe Market
18 North America Market
19 South America Market
20 Middle East Market
21 Africa Market
22 Competitive Landscape and Company Profiles
23 Other Major and Innovative Companies
26 Key Mergers and Acquisitions
27 Opportunities and Strategies
28 General Freight Trucking Market, Conclusions and Recommendations
29 Appendix
Executive Summary
General Freight Trucking Global Market Opportunities And Strategies To 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global general freight trucking market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- 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 research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for 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? The general freight trucking market global 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 history and forecasts market growth by geography. It places the market within the context of the wider general freight trucking market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by size and by application.
- Product Analysis - The product analysis section of the report describes the leading products in the general freight trucking market, along with key features and differentiators for those products.
- Supply Chain - The supply chain section of the report defines and explains the key players in the oil and gas industry supply chain.
- Customer Information - The chapter covers recent customer trends/preferences in the global general freight trucking market.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the general freight trucking market.
- Global Market Size And Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by size and by application in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Other Major And Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations - This section includes recommendations for general freight trucking market providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: Local General Freight Trucking; Long-Distance General Freight Trucking2) 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: DHL Group; FedEx Corporation; C.H. Robinson Worldwide, Inc; J.B. Hunt Transport Services; CMA CGM (Ceva Logistics AG)
Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
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; general freight trucking indicators comparison.
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.
Companies Mentioned
The major companies featured in this General Freight Trucking market report include:- DHL Group
- FedEx Corporation
- C.H. Robinson Worldwide, Inc
- J.B. Hunt Transport Services
- CMA CGM (Ceva Logistics AG)
- A.P. Moller - Maersk
- XPO Inc.
- Old Dominion Freight Line Inc
- Landstar System, Inc
- Knight Swift Transportation Holdings Inc.
- Spice Logistics Private Limited
- Freight Mart Logistics
- Prime Transport Corporation
- OM Logsitcs Limited
- UB Freight Australia Pty LTD
- Doyun Logistics Co., Ltd.
- GKR Transport
- Australian Container Freight Services.
- Jiangsu Kunyue Logistics Co Ltd
- Kunshan Yunda Express Co Ltd
- Changsha Sitong Moving Transport Co Ltd.
- Ningbo Jinxing Logistics Co Ltd
- Sichuan Wangcang County Transport Co Ltd
- Shanghai Ruiqiang Logistics Co Ltd
- Beijing Keyun Logistics Co Ltd.
- TuSimple Holdings, Inc
- Tianjin Jinshi Wukuang International Logistics Co Ltd.
- Welch’s Transport Ltd
- DSV A/S
- DB Schenker
- InstaFreight GmbH
- Haberling
- Einride AB
- Bolloré Logistics
- Simco Trans GmbH
- L.V. Overseas S.A.
- Fixemer Real Estate
- Kahmen TransCargo GmbH
- Active Freight
- MAN Truck & Bus SE
- AW Transport & Logistics GmbH
- SGL
- Livchem Logistics GmbH
- Boekestijn
- ROHLIG SUUS Logistics SA
- DHL Express
- TNT Expressare.
- Spares
- Flexport Inc.
- JBT Transport
- Pavages J.M. Beaulieu Inc, Les
- Schneider National
- Kodiak Robotics, Inc.
- Smart Moves Trucking LLC
- 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.
- Harper Investments, Inc.
- Pemex Logística, E.P.S.
- Frialsa Frigoríficos, S.A. de C.V.
- Bravo Servicos Logisticos Ltda
- Ic Transportes Ltda
- Transportes Transvidal Ltda
- Transportes Della Volpe Sa
- Liderbras Logistica E Transportes Ltda
- Wellfield Services Limitada
- Charabanc Transportation
- DP World
- Einride
- Iranian Road Transport Group
- Trans-Israel Freight Ltd.
- Ekol Logistics
- Tristar Transport
- Agility Logistics UAE
- Oilmar Shipping and Chartering DMCC (UAE)
- Tri Star Transport (UAE)
- DFDS
- Transmar
- Freterium
- Reinhardt Transport (Pty) Ltd
- Autocarrier Transport
- FPT Group (Pty) Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 407 |
| Published | March 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 1.07 Trillion |
| Forecasted Market Value ( USD | $ 2.53 Trillion |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 87 |
