The entry of automated vehicles with high-tech safety measures, cameras, radar, and Lidar sensors guiding the way, companies are able to save money through less fuel and more frequent schedules. Automated trucking has the ability to increase overall efficiency in the freight transportation industry. For instance, a self-driving truck of Otto Company completed the first commercial shipment of beer in Colorado.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL SPECIALIZED FREIGHT TRUCKING MARKET AT $458 BILLION IN 2017
North America was the largest geographic region in the market, accounting for one-third of the global market.
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The chart below shows the year-on-year growth of the global specialized freight trucking market during 2017 – 2021
According to The Business Research Company’s Consultant, Nitin Gianchandani, companies are investing in Advanced Product Tracking (APT) products and services, which are designed to help operators and managers track product changes through continuously operated processes. APT is a customized solution that helps visualize product transitions, taking into account the retention time and mixing in storage tanks and other process equipment. APT enables proactive decision-making and operational strategy development based on real time modeling of the actual transition at each stage of the process. Companies should also focus on route and network optimization tools for efficient transportation with low costs.
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UPS (United Parcel Service) was the biggest player in the specialized freight trucking market, with revenues of $61 billion in 2016. UPS’s strategy is to offer integrated package and freight services to e-commerce companies to offset the decrease in revenues from other industries.
The specialized freight trucking market is segmented into Automobiles And Heavy Equipment; Bulk Liquids; Dry Bulk Materials; Forest Products; Refrigerated Goods.
Automobiles And Heavy Equipment segment includes establishments that provide the transportation of automobile and heavy equipment are part of this market.
Bulk Liquids segment includes establishments that provide the transportation of bulk liquids are part of this market.
Dry Bulk Materials segment includes establishments that provide the transportation of dry bulk materials are part of this market.
Forest Products segment includes establishments that provide the transportation of forest products are part of this market.
Refrigerated Goods segment includes establishments that provide the transportation of refrigerated goods are part of this market.
Specialized Freight Trucking Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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