Dublin, April 02, 2021 (GLOBE NEWSWIRE) -- The "Specialized Freight Trucking Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global specialized freight trucking market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest growing market for the specialized freight trucking? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Specialized Freight Trucking market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider specialized freight trucking market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The specialized freight trucking market section of the report gives context. It compares the specialized freight trucking market with other segments of the truck transportation market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, specialized freight trucking indicators comparison.
Major companies in the specialized freight trucking market include UPS (United Parcel Service); Fedex (Federal Express); Schneider National; C.H. Robinson and J.B. Hunt Transport Services.
The global specialized freight trucking market is expected to grow from $780.83 billion in 2020 to $847.35 billion in 2021 at a compound annual growth rate (CAGR) of 8.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1134.66 billion in 2025 at a CAGR of 8%.
The specialized freight trucking market consists of sales of specialized freight trucking services and related goods by entities (organizations, sole traders and partnerships) that provide over-the-road transportation of household and office goods. The specialized freight trucking market is segmented into automobiles and heavy equipment; bulk liquids; dry bulk materials; forest products and refrigerated goods.
North America was the largest region in the global specialized freight trucking market, accounting for 29% of the market in 2020. Asia Pacific was the second largest region accounting for 28% of the global specialized freight trucking market. Africa was the smallest region in the global specialized freight trucking market.
Truck transportation companies are widely using collision mitigation technology to reduce loss of lives and damages associated with accidents. Collision mitigation system detects the impending strike and alerts the driver about any collision. These systems are installed within the vehicle and in case of an imminent accident, they can take an action automatically without the driver's input. These systems are becoming standard inbuilt feature on many new trucks in many countries globally. For instance, in 2018, the National Highway Traffic Safety Administration (NHTSA) in the USA has mandated new commercial trucks to be equipped with collision mitigation systems. The agency stated that this could prevent nearly 2000 crashes every year. Major companies manufacturing these systems for trucks include Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., and General Electric Company.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the specialized freight trucking market in 2020 as governments-imposed lockdowns and restricted the movement of people and goods to contain the transmission. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the specialized freight trucking market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
The specialized freight trucking services market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in end user markets, thereby driving the market during forecast period.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Specialized Freight Trucking Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Specialized Freight Trucking Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Specialized Freight Trucking Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Specialized Freight Trucking Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Specialized Freight Trucking Market Trends and Strategies
8. Impact of COVID-19 on Specialized Freight Trucking
9. Specialized Freight Trucking Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.3. Forecast Market Growth, Value ($ Billion)
10. Specialized Freight Trucking Market Regional Analysis
10.1. Global Specialized Freight Trucking Market, 2020, by Region, Value ($ Billion)
10.2. Global Specialized Freight Trucking Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Specialized Freight Trucking Market, Growth and Market Share Comparison, by Region
11. Specialized Freight Trucking Market Segmentation
11.1. Global Specialized Freight Trucking Market, Segmentation by Type
11.2. Global Specialized Freight Trucking Market, Segmentation by Application
11.3. Global Specialized Freight Trucking Market, Segmentation by Size, Historic and Forecast
12. Specialized Freight Trucking Market Metrics
12.1. Specialized Freight Trucking Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Specialized Freight Trucking Market Expenditure, 2015-2025, Global
13. Asia-Pacific Specialized Freight Trucking Market
14. Western Europe Specialized Freight Trucking Market
15. Eastern Europe Specialized Freight Trucking Market
16. North America Specialized Freight Trucking Market
17. South America Specialized Freight Trucking Market
18. Middle East Specialized Freight Trucking Market
19. Africa Specialized Freight Trucking Market
20. Specialized Freight Trucking Market Competitive Landscape
20.1. Competitive Market Overview
20.2. Market Shares
20.3. Company Profiles
20.3.1. UPS (United Parcel Service)
20.3.1.1. Company Overview
20.3.1.2. Products and Services
20.3.1.3. Strategy
20.3.1.4. Financial Performance
20.3.2. Fedex (Federal Express)
20.3.2.1. Company Overview
20.3.2.2. Products and Services
20.3.2.3. Strategy
20.3.2.4. Financial Performance
20.3.3. Schneider National
20.3.3.1. Company Overview
20.3.3.2. Products and Services
20.3.3.3. Strategy
20.3.3.4. Financial Performance
20.3.4. C.H. Robinson
20.3.4.1. Company Overview
20.3.4.2. Products and Services
20.3.4.3. Strategy
20.3.4.4. Financial Performance
20.3.5. J.B. Hunt Transport Services
20.3.5.1. Company Overview
20.3.5.2. Products and Services
20.3.5.3. Strategy
20.3.5.4. Financial Performance
21. Key Mergers and Acquisitions in the Specialized Freight Trucking Market
22. Market Background: Truck Transportation Market
22.1. Truck Transportation Market Characteristics
22.2. Truck Transportation Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F Growth, by Segment, Value ($ Billion), Global
22.3. Global Truck Transportation Market, 2020, by Region, Value ($ Billion)
22.4. Global Truck Transportation Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
22.5. Global Truck Transportation Market, 2015-2020, 2020-2025F, 2030F, Segmentation by Type, Value ($ Billion)
23. Recommendations
23.1. Global Specialized Freight Trucking Market in 2025 - Growth Countries
23.2. Global Specialized Freight Trucking Market in 2025 - Growth Segments
23.3. Global Specialized Freight Trucking Market in 2025 - Growth Strategies
24. Appendix
24.1. NAICS Definitions of Industry Covered in this Report
24.2. Abbreviations
24.3. Currencies
24.4. Research Inquiries
24.5. About the Publisher
25. Copyright and Disclaimer
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