Market Research Future Insights

According to MRFR analysis, the global Freight Trucking market is expected to register a CAGR of 4.35% during the forecast period (2022 - 2030) and hold a value of over USD 4000.12 Billion by 2030.

The heavy-duty vehicle industry, or freight trucking, is notable for moving cargo from one location to another. Heavy load trucks are moved around by using the freight trucking industry. The market development of the freight trucking market share has grown due to the quick growth of fast-moving customers. The market value rises as a result of global population growth. Because of population expansion and accelerated urbanization, there is a rising need for freight transportation services. The market value declined as a result of the global increase in COVID. The market value decreased during the pandemic issue for a variety of reasons. The main problem was the several governments' stringent restrictions. The labour and migrant employees retreated to their hometowns when the lockdown was enacted. As a result, there was a labour scarcity, which was a significant hindrance when moving objects from one area to another. The government has launched many attempts to halt the pandemic's spread before it causes a major global catastrophe.

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Regional Analysis

The freight trucking market is dominated by the Asia Pacific region. This percentage is a result of the market's rising urbanization demand. Later, one of the primary drivers of the Asia Pacific region's growth is the government's efforts. Considering that the government is taking on the duty to raise their economic level. The market value of the Asia Pacific area has expanded as a result of the region's increasing urbanization and the government's construction of hospitals and healthcare facilities.

North America is the second region, after the Asia-Pacific, to hold the majority of the market. The value of the market has expanded as a result of the trucking and transportation of bulk goods to the building site.

Market Segmentation

The Global Freight Trucking market has been segmented into Vehicle Type, Cargo Type, and End-Use.

Based on the Vehicle Type, the market has been segmented into Light Commercial Vehicles, Medium Commercial Vehicles, and Heavy Commercial Vehicles.

Based on the Cargo Type, the market has been segmented into Dry Bulk, Liquid Bulk, and Refrigerated Products.

Based on the End-Use, the market has been segmented into Industrial & Manufacturing, Oil & Gas, Construction & Mining, Chemicals & Agri-Products, and Food & Beverages.

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Key Players

Some of the key market players are Interlogix Pty Ltd, Tuma transport, Fed Ex corporation, Ceva holding LLC, United parcel service Inc, and Nippon Express Co ltd.

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