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 services market has shown little growth in the past years with a CAGR of just over 2%. The year 2017 recorded highest ever growth in this market with a total market value of about $1.4 trillion as per TBRC’s in-house consultants.
TBRC’s latest report show trends in the truck transportation market for each year with sourced reasons to support the growth claims.
The report also shows the truck transportation services market to grow at double the CAGR by 2021 as compared to 2017, along with geographies with the biggest market share and highest return rate.
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The truck transportation services market is expected to reach $1.7 trillion by 2021. This growth will be registered due to positive economic outlook in many developed and developing economies, strong economic activity in emerging countries such as China and India in the forecast period, and increased demand in general freight trucking in Asia pacific region.
Companies included in the report are C.H. Robinson, J.B. Hunt Transport Services, YRC Freight, Swift Transportation, and Landstar.
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