NEW YORK, July 12, 2022 /PRNewswire/ — Road freight transportation is the movement of goods by surface transportation carriers such as trucks and trailers. It includes full truckload and LTL transportation carriers. It also includes refrigerated trucks, which are used for the transportation of temperature-sensitive products. Road freight service providers offer logistics services, value-added services such as loading and unloading, documentation, door-to-door delivery, and packaging. They also provide strategic and operational value to many shippers worldwide.
Key Market Dynamics:
- Market Driver: The need to increase operational efficiency is driving the growth of the market. An increase in fleet operating costs because of a rise in vehicle and fuel prices has created the need for increased operational efficiency. Companies rely more on intermodal transportation for the shipment of automotive parts, consumer goods, and heavy vehicles. The main reasons for the increased use of intermodal transportation are improved efficiency, cost reduction, and environmental impact. It offers many advantages over other modes of transportation.
- Market Challenge: The operational impact of new regulations is challenging the growth of the market. These regulations include compliance with security, federal driver safety regulations, carbon emission standards, state taxes on diesel fuel, and state or federal environmental standards. Compliance with these regulations requires a lot of clerical work and delays the movement of goods and vehicles.
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Market Segmentation
The road freight transportation market in North America is segmented by type (full truckload and less-than truckload) and geography (US, Canada, and Mexico). The US will be the leading region with 86% of the market’s growth during the forecast period. The growth of the region will be driven by factors such as the increasing production capacity of industries that require the transportation of freight.
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Some Companies Mentioned with their Offerings
- CMA CGM Group – The company offers freight management and contract logistics services for road freight transportation.
- FedEx Corp. – The company offers transportation infrastructure and modern infrastructure for road freight transportation.
- Knight-Swift Transportation Holdings Inc. – The company offers access to 11,000 private owned assets to give customers the ability to utilize dropped equipment and improve their supply chain efficiency for road freight transportation.
- Ryder System Inc. – The company offers a dedicated transportation solution with outsourced fleet management for road freight transportation.
- Schneider National Inc. – The company offers dry van truckload services for road freight transportation.
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Related Reports
Road Freight Transport Market in Colombia by End-user and Type – Forecast and Analysis 2022-2026
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Road Freight Transportation Market In North America Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.31% |
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Market growth 2021-2025 |
USD 103.29 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
1.10 |
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Regional analysis |
US, Canada, and Mexico |
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Performing market contribution |
US at 86% |
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Key consumer countries |
US and Canada |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
CMA CGM Group, FedEx Corp., J.B. Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Old Dominion Freight Line Inc., Ryder System Inc., Schneider National Inc., United Parcel Service Inc., XPO Logistics Inc., and Yellow Corp. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Full truckload – Market size and forecast 2020-2025
- Less-than truckload – Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- US – Market size and forecast 2020-2025
- Canada – Market size and forecast 2020-2025
- Mexico – Market size and forecast 2020-2025
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- CMA CGM Group
- FedEx Corp.
- J.B. Hunt Transport Services Inc.
- Knight-Swift Transportation Holdings Inc.
- Old Dominion Freight Line Inc.
- Ryder System Inc.
- Schneider National Inc.
- United Parcel Service Inc.
- XPO Logistics Inc.
- Yellow Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Contact
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SOURCE Technavio
