Major players in the long-distance general freight trucking market are XPO Logistics Inc. , YRC Worldwide Inc. , FedEx Corporation, JB Hunt Transport Services Inc. , Knight-Swift Transportation Holdings Inc.
New York, April 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Long-Distance General Freight Trucking Global Market Report 2022” – https://www.reportlinker.com/p06250365/?utm_source=GNW
, Old Dominion Freight Line, Progressive Carriers, Joe’s Logistics, Universal Truckload, and Reynold Transportation.
The global long-distance general freight trucking market is expected to grow from $651.47 billion in 2021 to $727.38 billion in 2022 at a compound annual growth rate (CAGR) of 11.7%. The market is expected to grow to $1,075.84 billion in 2026 at a compound annual growth rate (CAGR) of 10.3%.
The long-distance general freight trucking market consists of sales of long-distance general freight trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide long-distance general freight trucking services.General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer.
Long-distance general freight trucking establishments usually provide trucking between metropolitan areas which may cross country borders. Only goods and services traded between entities or sold to end consumers are included.
The main services in the long-distance general freight trucking market are general long-distance truckload carriers, general long-distance less-than-truckload carriers, and other transportation services. The general long-distance truckload carriers provide long-distance general freight trucking between metropolitan areas. . The market is segmented by activities into general long-distance truckload transit, general long-distance less-than-truckload transit, logistics planning, container trucking long-distance, and motor freight trucking long-distance. It is also segmented by size into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others
Asia Pacific was the largest region in the long-distance general freight trucking market in 2021.North America was the second largest region in the long-distance general freight trucking market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
An increase in the manufacturing output of different industries is expected to drive the growth of the long-distance general freight trucking market.More manufacturing output calls for more trucking to carry the freight from one place to another.
In March 2020, Tesla planned to increase electric vehicle production capacity in China.This production capacity will be 250,000 cars a year.
To transport these manufactured cars, there will be a need for freight trucking.In June 2020, Tesla semi which is used for long haul trucking was transporting the cars.
Thus, the increased manufacturing output which results in increased trucking for transportation of the finished products is leading to the growth of the long-distance general freight trucking market.
Travel restrictions and lockdowns during COVID-19 are limiting the growth of the long-distance general freight trucking market.Coronavirus lockdown limitations have restricted freight movement raising operating expenses, and increased anxiety among drivers and crew members.
According to an analysis by Geotab Inc., a web analytics company, there was a significant drop in the commercial transport activity between 16 March 2020 and 8 May 2020 in the United States, when compared with baseline data from February 2020. The commercial transport activity of the United States is working at an average of 83% of total commercial transport activity. This decrease in activity is felt more seriously in federal regions, such as New York and New Jersey, with working levels at 66% of normal activity. Thus, these variables such as travel restrictions and lockdown are affecting the development of the long-distance general freight trucking market.
Electric trucks are being increasingly used by the long-distance general freight trucking market for transportation which is expected to propel the market growth.Numerous retailers and transporters are putting in huge orders of electric trucks for beverage routes and last-mile delivery.
In September 2020, Amazon bought 10 electric trucks from Lion Electric, and in September 2019, Amazon ordered 100,000 electric delivery vans from startup Rivian with deliveries from 2021 to 2024.
In June 2020, Mark-It Express Logistics, US-based intermodal trucking, and freight brokerage company, has acquired the operating assets of Sava Transportation for an undisclosed amount.The acquisition will help Mark-It Express Logistics to offer flexible and robust solutions to their customers and will add 20 more trucks to its fleet.
This acquisition will also diversify its customer base and increase its market share. Sava Transportation is a US-based company specializing in intermodal traffic.
The countries covered in the long-distance general freight trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06250365/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
__________________________
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001
