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Trucking Market

Trucking Market

Trucking Market Global Industry Assessment & Forecast

# Pages:

142

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0313

Segments Covered
  • By Type Lorry Tank, Truck Trailer, Refrigerated Truck, Flatbed Truck
  • By Application Oil and Gas, Energy and Mining, Defense, Chemicals, Pharmaceuticals and Healthcare, Industrial and Manufacturing, Food and Beverages
Snapshot
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: 10,850 Million
Revenue 2028Revenue 2028: 23257.9 Million
Revenue CAGRRevenue CAGR (2021 - 2028): 10.23
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia-Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Trucking market was valued at USD 10,850 Million in 2020 and is projected to reach USD 23257.9 Million by 2028, growing at a CAGR of 10.23% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2028
Annual Market Size (2028) 23257.9 Million
Annual Market Size (2021)
CAGR (2021 - 2028) 10.23%

Overview and Description

A tracking system, also known as a locating system, is used for the observing of persons or objects on the move and supplying a timely ordered sequence of location data for further processing. It is important to be aware of human tracking, further details are listed below.


The global Trucking market is segmented based on products, applications, regions, and countries. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

Yearly Infographics 10,850 Million 23257.9 Million

COVID-19 Impact Analysis

COVID-19 pandemic led to government of numerous countries across the globe to impose strict lockdown restrictions during the preliminary stages. In 2021, numerous countries faced the adverse effects of the pandemic due to the outbreak of second wave, which also led governments to again impose lockdown measures. Business shutdowns, partial business operations, and travel restrictions have led to challenges in supply chain and in turn production. However, it is expected that reopening of trade activities, the market will witness steady growth in the demand in the coming years. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Insights

Huge and different funding sources and business approaches to encourage and rely on global programs is driving factor for Trucking Market. 

The improvement in demand for applications where high temperature, mechanical strength, and high chemical resistance is driving Trucking Market. 

The environmental & health and well-being matters with volatile raw material expenses and high intimidation of replacements is hindering Trucking Market.

Global Trucking Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Type, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered Old Dominion Freight, Hunt (Jb) Transprt Svcs Inc, Ryder System Inc, Marten Transport Ltd, Knight Transportation Inc, Landstar System Inc, Covenant Transportation Grp, Usa Truck Inc, Heartland Express Inc, Amerco.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia-Pacific, company market share analysis, and COVID-19 impact analysis

Global Trucking Market: Type Segment Analysis

    • Lorry Tank
    • Truck Trailer
    • Refrigerated Truck
    • Flatbed Truck

Global Trucking Market: Application Segment Analysis

    • Oil and Gas
    • Energy and Mining
    • Defense
    • Chemicals
    • Pharmaceuticals and Healthcare
    • Industrial and Manufacturing
    • Food and Beverages

Regional Analysis: Preview

Based on region, the global Trucking market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea.

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Trucking market are Old Dominion Freight, Hunt (Jb) Transprt Svcs Inc, Ryder System Inc, Marten Transport Ltd, Knight Transportation Inc, Landstar System Inc, Covenant Transportation Grp, Usa Truck Inc, Heartland Express Inc, Amerco.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Trucking Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Key Highlights – Global Trucking Market

  • Global Trucking Market is projected to reach USD 23257.9 Million by 2028
  • Asia-Pacific held the highest share of the Trucking market
  • Lorry Tank held the largest share of the product segment in the Trucking market
  • Energy & Mining held the major share of the application segment in the Trucking market

FAQ
Frequently Asked Question
  • The global Trucking valued at 10,850 Million in 2020 and is expected to reach 23257.9 Million in 2028 growing at a CAGR of 10.23%.

  • The prominent players in the market are Old Dominion Freight, Hunt (Jb) Transprt Svcs Inc, Ryder System Inc, Marten Transport Ltd, Knight Transportation Inc, Landstar System Inc, Covenant Transportation Grp, Usa Truck Inc, Heartland Express Inc, Amerco..

  • The market is project to grow at a CAGR of 10.23% between 2021 and 2028.

  • The driving factors of the Trucking include

    • Huge and different funding sources and business approaches to encourage and rely on global programs is driving factor for Trucking Market.
    • The improvement in demand for applications where high temperature, mechanical strength, and high chemical resistance is driving Trucking Market.

  • Asia-Pacific was the leading regional segment of the Trucking in 2020.