DUBLIN--(BUSINESS WIRE)--The "Long-Distance General Freight Trucking Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global long-distance general freight trucking market as it emerges from the COVID-19 shut down.
The global long-distance general freight trucking market is expected to grow from $536.55 billion in 2020 to $601.87 billion in 2021 at a compound annual growth rate (CAGR) of 12.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $826.54 billion in 2025 at a CAGR of 8.3%.
Companies Mentioned
- XPO Logistics Inc.
- YRC Worldwide Inc.
- FedEx Corporation
- JB Hunt Transport Services Inc.
- Knight-Swift Transportation Holdings Inc.
- Old Dominion Freight Line
- Progressive Carriers
- Joe's Logistics
- Universal Truckload
- Reynold Transportation
- Carolina Cargo Freight Expediters
- Spirit Trucking Lines
- Kivi Bros. Trucking
- Mangino Holding
- Erik Holdings
- Duncan Trucking
- Transport Holdings
- GFA Alabama
- C&S Wholesale Grocers
- Kenan Advantage Group
- Universal Logistics Holdings (Nasdaq: Uacl)
- Ceva Logistics Us Holdings
- Lynden
- Hub Group (Nasdaq: Hubg)
- Aaa Cooper Transportation
- Charlotte Truck Center
- Estes Express Lines
- UPS Freight
- ABF Freight System
- R+L Carriers
- Saia Motor Freight Line
- Central Transport International
- Oak Harbor Freight Lines
- Central Freight Lines
- Daylight Transport
- New Penn Motor Express
- New England Motor Freight
- A. Duie Pyle
- Reddaway
- Roadrunner Transportation
- AAA Cooper Transportation
- Pitt Ohio Transportation Group
- Dayton Freight Lines
- Forward Air
- Averitt Express
- Holland
- Southeastern Freight Lines
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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. Included in this industry are establishments operating as truckload (TL) or less than truckload (LTL) carriers. Only goods and services traded between entities or sold to end consumers are included.
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. Similarly, in November 2018, FedEx Corp. expanded its fleet to 1000 electric delivery vehicles of which 100 were bought from Chanje Energy and leased 900 from Ryder System.
The long-distance general freight trucking market covered in this report is segmented by services into truckload carriers; less-than-truckload carriers; other transportation services and by activities into general long-distance truckload transit; general long-distance less-than-truckload transit; logistics planning; container trucking long-distance; motor freight trucking long-distance.
In June 2020, Mark-It Express Logistics, a 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 the market share. Sava Transportation, a US-based company specializing in intermodal traffic.
An increase in 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.
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