Freight Trucking Market: Overview
Freight trucking is an extremely important activity in the supply chain market and transportation business. Effective working of freight trucks ensures proper communication between different business processes and brings them together. Freight trucks forms the nerve center of any manufacturing or industrial activities as freight trucks carries raw materials required for business from one place to another. Moreover, freight trucks also help in transportation of finished goods to the respective markets. The efficient movement of freight is acting as a driving factor in the growth of freight trucking market. Freight trucking service is providing more advanced freight solution for the industry due to increased use of modern technology and effective communication.
Quality of service, reliability and timely delivery of goods along with proper freight management and logistics handling are the key factors on which the service of the freight trucks depends. There is a substantial growth in demand for heavy vehicles including trucks and trailers which acts as a driver for the freight trucking market. Moreover, adoption of latest technology in trucks such as use of hydraulics lifters and GPS navigation systems also drives the market for freight trucking. Moreover, safety in freight operations, reduction in cost and operational efficiency also increase the demand for freight trucks and thus drive the market.
Freight Trucking Market: Region-wise Insight
Asia-Pacific is the most attractive region for freight trucking market. Increase in infrastructural activities in the Asia-pacific region is mainly driving the freight trucking market as infrastructural development and construction activities requires transportation of equipments and goods from one place to another. In addition, the adoption of latest technology i.e. hydraulics lifters and automated doors used in freight trucks further also drives the freight trucking market in this region. Hydraulics lifters facilitate easy loading of goods in the freight trucks with less human effort. Automated doors act as a vacuum lock ensuring safety of goods and prevent unauthorized access to the valuable items in the trucks.
Thus, increase in productivity and less time consumption without compromising on cost drives the market. Escalating demand of HCV (heavy commercial vehicle) in the emerging countries like India and China is also driving the freight trucking market. The North America and Europe market for freight trucking is expected to grow at a steady pace over the forecast period. Steady recovery from the recent economic meltdown is responsible for the growth of business activities and manufacturing operations in North America which is driving the market for freight trucking in the region.
Presence of premium truck manufacturers such as Mercedes Benz, DAF, Volvo and Renault is driving the freight trucking market in Europe. The freight trucking market in Europe is mainly driven by quality of service and timely delivery. Thus the market is expected to continue its growth at a steady pace over the forecast period. Europe market faced steep challenge in the recent economic meltdown and is recovering at a steady pace which also in turn increased the demand for freight trucking market due to increase in industrial activities.
Freight Trucking Market: Key Players
Global key participants in the industry include UPS, Descartes System Group, DSV, DHL, CEVA Logistics, JDA Software, SNCF Geodis, Manhattan Associates, Kuehne+Nagel Inc, and DB Schenkerand.
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.