Local General Freight Trucking Market Insights, Growth, Share, Size, Demand: 2024-2033

Global local general freight trucking market size is expected to reach $144.45 Bn by 2028 at a rate of 1.9%, segmented as by type, truckload transportation, less-than-truckload transportation, intermodal transportation

Jul 9, 2024 - 11:31

Local General Freight Trucking Market Insights, Growth, Share, Size, Demand: 2024-2033

Overview and Scope

Local general freight trucking refers to modes of transportation that use trucks and vans to deliver a wide variety of commodities in local metropolitan areas, generally palletized and transported in a container or van trailer to deliver goods for both domestic and commercial purposes and used for short distances.

Sizing and Forecast

The local general freight trucking market size has grown marginally in recent years. It will grow from $131.36 billion in 2023 to $133.79 billion in 2024 at a compound annual growth rate (CAGR) of 1.8%. The growth in the historic period can be attributed to economic growth in emerging markets, growth in building and construction sector and a rise in disposable income.

The local general freight trucking market size is expected to see marginal growth in the next few years. It will grow to $144.45 billion in 2028 at a compound annual growth rate (CAGR) of 1.9%. The growth in the forecast period can be attributed to growing e-commerce sales, rising urbanization and rising demand for raw materials from the manufacturing industries. Major trends in the forecast period include use of artificial intelligence (ai), focus on internet of things (iot), mergers and acquisitions, increasing investments, partnerships and collaborations.

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Segmentation & Regional Insights

The local general freight trucking market covered in this report is segmented –

1) By Type: Truckload Transportation, Less-Than-Truckload Transportation, Intermodal Transportation, Dry-Bulk Transportation, Other Types

2) By Size: Heavy Trucks, Medium Trucks, Light Trucks

3) By Application: Oil And Gas, Industrial And Manufacturing, Energy And Mining, Food And Beverages, Pharmaceuticals And Healthcare, Other Applications

Asia-Pacific was the largest region in the local general freight trucking market in 2023. North America was the second largest region in the local general freight trucking market share. The regions covered in the local general freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increase in e-commerce sales is expected to fuel the growth of the local freight trucking market in the forecast period. E-Commerce refers to the purchase and sale of products and services on the Internet. The e-commerce industry relies on trucking to move its items from one location to another, which impacts the trucking industry directly. For instance, in September 2022, according to the International Trade Administration, a US-based Department of Commerce, consumer e-commerce now makes up 30% of the UK's overall retail sector (up from 20% in 2020), with an annual e-commerce revenue of more than $120 billion. In 2021, 82% of people in the UK will have made at least one online purchase. The increase in e-commerce sales increases the demand to transport the goods and thereby drives the growth of the local freight trucking market.

Key Industry Players

Major companies operating in the local general freight trucking market report are FedEx Corporation, Deutsche Post DHL Group, Yellow Corporation, C.H. Robinson Worldwide Inc, Old Dominion Freight Line Inc., XPO Logistics Inc., Landstar System Inc, Knight Swift Transportation Holdings Inc., Schneider National, Inc., JB Hunt Transport Services Inc, Luzhou Litong Industry Co., Ltd, Yibin Dahuang Logistics Co., Ltd, Infinity Cargo Logistics (China) Limited, YAMATO TRANSPORT CO., LTD, Nippon Express Company, Ltd, Yamato Transport, Coupang Fulfillment Services Ltd, DONGWON LOEX Co., Ltd, Federal Express Corporation, Oocl Uk Branch, Royal Mail Group Limited, Gxo Logistics Uk Limited, Dhl Freight Gmbh, DHL Express, TNT Expressare and Spares , Van der Vlist Russia, Logistics Ekol Romania, Frigoexpres , S.C. PHARAON SPEED EXPRESS SRL, Pavages J.M. Beaulieu Inc Les, Smart Move Facilities Services Inc, Blackmine Outfitters Trucking Ltd, J & S Services Inc, R & C Weare Logging Ltd, N. W. White & Company, Bayshore Transportation System Inc, Benny Whitehead Inc , Koleaseco Inc, Nippon Express, Rodovitor Transport and Vehicle Rental, Yusen Logistics, Fox Brasil, Panalpina , Maxitrans, Forward Movers, Creek General Transport, Prime Transport LLC, Haulier refrigerated & Chiller Van Transport Dubai , Ardh Al Madina Group, Alpha Omega International Trading Cc, Autocarrier Transport, Fpt Group (Pty) Ltd, Standard Vulcanizers , Atteridgeville Bus Service (Pty) Ltd

The local general freight trucking market report table of contents includes: