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Freight Trucking Market
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Freight Trucking Market

Author: Swarup Sahu - Senior Consultant, Report ID - DS2003005, Published - January 2025

Segmented in Type (LTL, FTL), Goods Type (Hazardous Materials, Non-Hazardous Materials), Distance, Ownership and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2024 – 2034

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Global Freight Trucking Market Outlook

The world of freight truck transportation plays a role in global trade and is seen as a common industry with great potential, for change and advancement. The market, for Freight trucking was estimated at $2.9 billion in 2024. It is anticipated to increase to $4.1 billion by 2030 with projections indicating a growth to around $5.4 billion by 2035. This expansion represents a compound annual growth rate (CAGR) of 5.7% over the forecast period. Being a part of supply networks means that this sector is constantly adapting to new technologies and the complexities of global trade. Facing the challenges and advantages of our fast paced globalized environment has made freight truck transport a key player in shaping how businesses function and unitiung economies and industries across the globe.


The world of freight trucking focuses on moving goods with trucks of sizes to provide flexibility and efficiency across a wide geographical area range. This industry is known for its versatility in handling items, like food products, machinery and dangerous materials while bringing them directly to their destinations.


Market Size Forecast & Key Insights

2019
$2.9B2024
2029
$5.1B2034

Absolute Growth Opportunity = $2.2B

The Freight Trucking market is projected to grow from $2.9 billion in 2024 to $5.1 billion in 2034. This represents a CAGR of 5.7%, reflecting rising demand across Fleet Management, Freight and Logistics Management and Real-Time Monitoring and Analytics.

The Freight Trucking market is set to add $2.2 billion between 2024 and 2034, with manufacturer targeting Non-Hazardous Materials & undefined Goods Type projected to gain a larger market share.

With E-commerce boom, and Technological advancements, Freight Trucking market to expand 74% between 2024 and 2034.

Opportunities in the Freight Trucking Market

Automated Freight Trucking

In the freight truck sectorThere'san opportunity in automation that hasnt been fully explored yet. The incorporation of self driving technology in freight trucks has the potential to enhance productivity and lower expenses. This could lead to delivery times and create fresh avenues for growth, in the industry.

Eco-Friendly Freight Truck Innovations and Incorporating IoT in Freight Trucking

Given the increasing concern for climate change impacts on the environment and society at large the freight truck industry has a chance to embrace technologies for a positive shift. The latest progress, in hybrid freight vehicles offers a pathway to bring in environmentally friendly goods, aimed at reducing greenhouse gas emissions and cutting down on fuel usage.

The world of IOT a trend in the industry of freight truck transportation that has yet to be fully explored! By utilizing devices effectively in this field can revolutionize how we track in real time and monitor cargo loads while also predicting maintenance needs – all leading to a major boost, in supply chain efficiency that might just transform the market entirely.

Growth Opportunities in North America and Europe

Europe Outlook

The European truck transportation industry has been around for a while. Encounters distinct obstacles like strict emission regulations and various rules and regulations to adhere to them involved with it as well as encouraging the growth of eco friendly technologies and evolving the market at large. The continuous rise of border trading activities and the expanding field of online commerce play crucial roles as driving factors for growth within this region of operation. Another region that shows promise for development is the use of modes of transportation, within Europe.

North America Outlook

The freight trucking industry in North America is well established and competitive with an infrastructure and technological progress driving its resilience. The market is mainly controlled by standing companies leading to fierce competition. Digitalization and automation are shaping theindustry'sgrowth by creating prospects for efficiency enhancements and cost reductions. The rise of e commerce has further boosted the need, for freight trucking services.

North America Outlook

The freight trucking industry in North America is well established and competitive with an infrastructure and technological progress driving its resilience. The market is mainly controlled by standing companies leading to fierce competition. Digitalization and automation are shaping theindustry'sgrowth by creating prospects for efficiency enhancements and cost reductions. The rise of e commerce has further boosted the need, for freight trucking services.

Europe Outlook

The European truck transportation industry has been around for a while. Encounters distinct obstacles like strict emission regulations and various rules and regulations to adhere to them involved with it as well as encouraging the growth of eco friendly technologies and evolving the market at large. The continuous rise of border trading activities and the expanding field of online commerce play crucial roles as driving factors for growth within this region of operation. Another region that shows promise for development is the use of modes of transportation, within Europe.

Growth Opportunities in North America and Europe

Established and Emerging Market's Growth Trend 2025–2034

1

Major Markets : United States, China, Germany, India, Japan are expected to grow at 3.7% to 5.5% CAGR

2

Emerging Markets : Indonesia, Nigeria, Vietnam are expected to grow at 6.6% to 7.9% CAGR

Market Analysis Chart

The world of freight trucking is influenced by factors that push its expansion forward and some factors that hold it back to a certain extent. An important driving force behind the growth of the freight trucking industry is the rise of e commerce activity. The growing trend of online shopping has led to a demand for freight truck services since products must be delivered from storage facilities to customers. The constant progress in technology and the increasing shift towards processes have played a significant role, in boosting the development of this industry.

Recent Developments and Technological Advancement

December 2024

Hino Motors has introduced a series of electric delivery trucks aimed at cutting down on carbon emissions and saving money for shipping companies.

October 2024

Navistar International Corporation has implemented state of the art technology in their commercial truck models to improve safety and productivity.

August 2024

MAN Truck & Bus has introduced a prototype of a freight truck powered by hydrogen in light of the growing need, for eco transportation solutions.

In the Freight Truck transportation sector of late there has been a move towards digitalization and environmental sustainability which is being fueled by technological advancements and the growing need for eco friendly logistics solutions. The incorporation of technologies such as the IOT along, with AI in freight operations has enabled management of fleets reliable real time tracking and more efficient delivery routes.

Impact of Industry Transitions on the Freight Trucking Market

As a core segment of the Logistics Services industry, the Freight Trucking market develops in line with broader industry shifts. Over recent years, transitions such as Rise of Digital Platforms and Accelerated Shift towards Sustainability have redefined priorities across the Logistics Services sector, influencing how the Freight Trucking market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Rise of Digital Platforms:

The freight truck industry is going through a change with the emergence of digital platforms that streamline the entire process by connecting shippers and carriers directly without any intermediaries involved. These platforms also facilitate real time tracking of shipments to enhance transparency and reliability in service delivery. Overall digital platforms are leading the path, toward an efficient and structured freight truck industry transformation.

2

Accelerated Shift towards Sustainability:

The trucking sector is also seeing a move, towards sustainability as companies respond to stricter regulations and rising environmental consciousness by embracing eco friendly practices like using alternative fuels and electric vehicles while improving logistics to lower emissions.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Logistics Services industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Logistics Services industry cascade into the Freight Trucking market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: E-commerce Boom, and Rise of Green Logistics

The notable increase seen globally regarding e commerce activities plays a role as a key factor influencing the freight truckindustrysgrowth trajectory. Customers are also progressively gravitating towards shopping platforms more than ever before; this shift has also resulted in a notable rise of requests, for dependable and efficient freight truck services to guarantee punctual product deliveries.
The increasing awareness of issues and the push for sustainable methods are also boosting the implementation of eco friendly practices in freight transportation, by trucks. The use of friendly vehicles and fuel efficient technologies is also fostering a greener and more efficient logistics network which is also driving the industry forward.
The freight trucking industry is also being transformed by progress, like GPS tracking systems and automated trucks which are also boosting efficiency and cutting costs while enhancing service quality to spur market expansion.

Restraint: Rising Fuel Costs

Rising fuel expenses pose a hurdle for the trucking sector that transports goods over long distances by roadways. As fuel charges climb up steadily so does the overall operating expenditure leading to a squeeze on profit margins and limiting the expansion of the market. The surge in fuel costs can compel trucking companies to hike their shipping rates which might drive customers towards exploring delivery options. Efficiency in fuel consumption remains an issue especially for journeys covering extensive distances. Sudden fluctuations in fuel prices can have an impact, on operational expenses thereby complicating the process of budget allocation and pricing strategies.

Challenge: Strict Emission Regulations

Many nations are now enacting stringent emission rules to tackle the issues of air pollution and global warming.

Supply Chain Landscape

Raw Materials Procurement

ArcelorMittal

Alcoa Corporation

Truck Manufacturing

Daimler AG

Volvo Group

Freight Forwarding
JB Hunt / FedEx Freight
End User Services
XPO Logistics / C.H. Robinson Worldwide
Raw Materials Procurement

ArcelorMittal

Alcoa Corporation

Truck Manufacturing

Daimler AG

Volvo Group

Freight Forwarding

JB Hunt

FedEx Freight

End User Services

XPO Logistics

C.H. Robinson Worldwide

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Leading Providers and Their Strategies

Application AreaIndustryLeading ProvidersProvider Strategies
Long-Haul Freight Services
Transportation and Logistics
Knight-Swift Transportation, J.B. Hunt Transport Services
Utilizing modern truck technology for fuel efficiency and cost-effectiveness while ensuring drivers' safety and compliance with environmental regulations
Local Freight Services
Retail and Wholesale
Old Dominion Freight Line, United Parcel Service
The emphasis is on fast and reliable localized service using advanced tracking and routing software to create efficient delivery routes
Refrigerated Trucking Services
Food and Beverages
Americold Logistics, Lineage Logistics
Implementing strict temperature control systems and high-quality insulation in trucks to transport perishable foodstuffs and pharmaceutical products while adhering to FDA and other regulations
Dangerous Goods Transport
Oil and Gas, Chemical
Schneider National, FedEx Freight
Adoption of the highest safety standards and best-suited vehicles for hazardous materials. Strict compliance with DOT and other regulatory requirements is incumbent

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Freight Trucking market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Freight Trucking in Freight and Logistics Management, Fleet Management and Real-Time Monitoring and Analytics

Freight and Logistics Management

This software plays a role in managing and overseeing the transportation and storage of goods effectively. It offers a benefit by improving transparency throughout the supply chain, which helps improve organization and lower shipping expenses. Major companies such as DHL and UPS are leading the way, in strategies emphasizing comprehensive technology driven logistics services.

Fleet Management

In the world of freight truck transportation managing a fleet is an aspect. It helps businesses streamline routes oversee drivers, upkeep vehicles and guarantee adherence to rules. The key benefit is its ability to enhance effectiveness and decrease expenses considerably. Major players, in this field are SAP, Oracle and IBM recognized for their fleet management offerings.

Real-Time Monitoring and Analytics

Real time monitoring and data analysis play a role in the realm of freight trucking services. Using GPS tracking and IOT devices allows shipping companies to receive updates on their shipments ensuring punctual deliveries and identifying any possible challenges along the way. What makes this technology stand out is its ability to provide insights that companies leverage to enhance their offerings and meet customer expectations. Leading players in this field such, as Verizon and AT&T provide tracking and analytical solutions.

Freight Trucking vs. Substitutes:
Performance and Positioning Analysis

Compared to transportation methods available out there freight truck delivery provides flexible and affordable options for moving goods despite the frequent occurrence of delays caused by traffic. It occupies a niche for carrying bulky items and holds significant opportunities for expansion, within the thriving e commerce industry.

Freight Trucking
  • Rail Freight /
  • Air Freight /
  • Maritime Shipping
    Efficient and timely transportation of goods, flexibility in operations
    High operating costs, environmental pollution due to emissions
    Cost-effective, Wider reach and accessibility
    Dependence on weather conditions, Infrastructure-related constraints

Freight Trucking vs. Substitutes:
Performance and Positioning Analysis

Freight Trucking

  • Efficient and timely transportation of goods, flexibility in operations
  • High operating costs, environmental pollution due to emissions

Rail Freight / Air Freight / Maritime Shipping

  • Cost-effective, Wider reach and accessibility
  • Dependence on weather conditions, Infrastructure-related constraints

Compared to transportation methods available out there freight truck delivery provides flexible and affordable options for moving goods despite the frequent occurrence of delays caused by traffic. It occupies a niche for carrying bulky items and holds significant opportunities for expansion, within the thriving e commerce industry.

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Research Methodology

This market research methodology defines the Freight Trucking market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at macro and micro levels. As part of the Logistics Services ecosystem, we analyze Freight Trucking across LTL and FTL Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.



Key Sources Referenced:


We benchmark competitors such as United Parcel Service Inc, FedEx Corporation, and Deutsche Post AG by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Materials Procurement, Truck Manufacturing, and Freight Forwarding. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global Logistics Services revenues to estimate the Freight Trucking segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Materials Procurement (ArcelorMittal, Alcoa Corporation), Truck Manufacturing (Daimler AG, Volvo Group), and Freight Forwarding. Our parallel substitute analysis examines Rail Freight, Air Freight, and Maritime Shipping, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as United Parcel Service Inc, FedEx Corporation, and Deutsche Post AG, analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Freight Trucking market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Freight Trucking Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2025USD 3.1 billion
Revenue Forecast in 2034USD 5.1 billion
Growth RateCAGR of 5.7% from 2025 to 2034
Base Year for Estimation2024
Industry Revenue 20242.9 billion
Growth OpportunityUSD 2.2 billion
Historical Data2019 - 2023
Growth Projection / Forecast Period2025 - 2034
Market Size UnitsMarket Revenue in USD billion and Industry Statistics
Market Size 20242.9 billion USD
Market Size 20273.4 billion USD
Market Size 20293.8 billion USD
Market Size 20304.1 billion USD
Market Size 20345.1 billion USD
Market Size 20355.4 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredType, Goods Type, Distance, Ownership
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledUnited Parcel Service Inc, FedEx Corporation, Deutsche Post AG, Ceva Logistics, Schneider National, Kuehne+Nagel, J.B. Hunt Transport Services, XPO Logistics, YRC Worldwide, Swift Transportation, Rhenus AG and Penske Logistics
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Freight Trucking Market Size, Opportunities & Strategic Insights, by Type

4.1LTL
4.2FTL
Chapter 5

Freight Trucking Market Size, Opportunities & Strategic Insights, by Goods Type

5.1Hazardous Materials
5.2Non-Hazardous Materials
Chapter 6

Freight Trucking Market Size, Opportunities & Strategic Insights, by Distance

6.1Local
6.2Inter-city
6.3Long Distance
Chapter 7

Freight Trucking Market Size, Opportunities & Strategic Insights, by Ownership

7.1Owned Fleets
7.2Leased Fleets
Chapter 8

Freight Trucking Market, by Region

8.1North America Freight Trucking Market Size, Opportunities, Key Trends & Strategic Insights
8.1.1U.S.
8.1.2Canada
8.2Europe Freight Trucking Market Size, Opportunities, Key Trends & Strategic Insights
8.2.1Germany
8.2.2France
8.2.3UK
8.2.4Italy
8.2.5The Netherlands
8.2.6Rest of EU
8.3Asia Pacific Freight Trucking Market Size, Opportunities, Key Trends & Strategic Insights
8.3.1China
8.3.2Japan
8.3.3South Korea
8.3.4India
8.3.5Australia
8.3.6Thailand
8.3.7Rest of APAC
8.4Middle East & Africa Freight Trucking Market Size, Opportunities, Key Trends & Strategic Insights
8.4.1Saudi Arabia
8.4.2United Arab Emirates
8.4.3South Africa
8.4.4Rest of MEA
8.5Latin America Freight Trucking Market Size, Opportunities, Key Trends & Strategic Insights
8.5.1Brazil
8.5.2Mexico
8.5.3Rest of LA
8.6CIS Freight Trucking Market Size, Opportunities, Key Trends & Strategic Insights
8.6.1Russia
8.6.2Rest of CIS
Chapter 9

Competitive Landscape

9.1Competitive Dashboard & Market Share Analysis
9.2Company Profiles (Overview, Financials, Developments, SWOT)
9.2.1United Parcel Service Inc
9.2.2FedEx Corporation
9.2.3Deutsche Post AG
9.2.4Ceva Logistics
9.2.5Schneider National
9.2.6Kuehne+Nagel
9.2.7J.B. Hunt Transport Services
9.2.8XPO Logistics
9.2.9YRC Worldwide
9.2.10Swift Transportation
9.2.11Rhenus AG
9.2.12Penske Logistics