The truck transportation industry comprises establishments offering trucks and tractor trailers to provide road transportation of cargo. This industry does not include household and office goods movers, which is a specialized industry.
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The global truck transportation market is valued at above $1 trillion in 2017 and expected slight growth due to positive economic outlook in many developed and developing economies and strong economic activity in emerging countries such as China and India.
In the report, the global truck transportation market is divided into two segments, namely general freight trucking and specialized freight trucking. While the first segment is accounted for nearly, 70% of the market share, the remaining share is attributed to the other segment.
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The USA was the largest country in the truck transportation market in 2017, accounting for one-fourth of the market share. Japan and China followed the USA as the next largest countries in the market.
The truck transportation market is highly fragmented with the top five competitors in the market making up around 2% of the total market share in 2017. C.H. Robinson was the largest competitor of the market, followed by J.B. Hunt Transport Services Inc. and YRC Freight. C.H. Robinson is a global third party logistics company which provides freight transportation services and logistics solutions. The company is headquartered in Minnesota, United States and has 14,125 employees.
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