The Business Research Company's Global Market Reports Are Now Updated With The Latest Market Sizing Information For The Year 2023 And Forecasted To 2032
LONDON, Feb. 28, 2023 /PRNewswire/ -- As per The Business Research Company's Specialized Freight Trucking Global Market Report 2023, the global specialized freight trucking market will grow from $980 billion in 2022 to $1061.4 billion in 2023 at a compound annual growth rate (CAGR) of more than 8%. The specialized freight trucking market is then expected to grow to $1418 billion in 2027 at a CAGR of more than 7%. Going forward, rising demand for raw materials from the manufacturing industries and rising urbanization is expected to drive the specialized freight trucking market growth.
The major participants in the specialized freight trucking supply chain who are responsible for consistent growth are divided into three categories:
- Resources - which include real estate, building, and infrastructure developers, transportation manufacturers, oil and gas providers
- Specialized Freight Trucking Market Service Providers - which include services such as temperature-controlled trucking services, bulk trucking services, critical goods transportation services
- End-Users - which include companies from various industries such as oil and gas, industrial and manufacturing, defense, energy and mining, chemicals, pharmaceutical and healthcare, food and beverages.
Learn More On The Specialized Freight Trucking Market Report - https://www.thebusinessresearchcompany.com/report/specialized-freight-trucking-global-market-report
The global specialized freight trucking market is segmented -
- By Type: Automobiles And Heavy Equipment, Bulk Liquids, Dry Bulk Materials, Forest Products, Refrigerated Goods
- By Application: Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Other Applications
- By Size: Heavy Trucks, Medium Trucks, Light Trucks
Specialized freight trucking companies have strategically targeted end-user industries such as industrial and manufacturing markets and have taken up the most lucrative market segments in the specialized freight trucking industry, such as dry bulk materials, in order to ensure maximum monetization. For instance, FedEx Freight Services, a US-based company that is the largest competitor in the specialized freight trucking market, focuses on transporting dry bulk materials through freight shipments that are 4,000 to 44,000 lbs. or less in weight. The company provides worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery, supply chain management services, and customs brokerage services.
Another specialized freight trucking market major player, Cargill Incorporated, with headquarters in the USA, specializes in transporting chilled, temperature-controlled freight, such as meat and fruit, and offers transportation, logistics, and supply chain services to its clients. The company is involved in producing, processing and distribution of agricultural products such as grains, sugar, cotton, oilseeds, biofuels, chocolate, meat and poultry products.
Request A Free Sample Of The Specialized Freight Trucking Market Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=2254&type=smp
According to the specialized freight trucking market analysis, USA and China will put on most value and experience a higher growth rate by 2027, in comparison to other regions. To capitalize on the top market segments in these high-growth regions, The Business Research Company suggests competitors in the specialized freight trucking market take up market-trend-based strategies such as launching trucks based on the IoT (Internet of Things), deploying artificial intelligence (AI), mergers and acquisitions, truck platooning, and investments to improve their financial strength and product portfolio.
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