Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "United States Short Haul Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029" report has been added to ResearchAndMarkets.com's offering.
Short Haul Freight Transport Market Grows Amidst E-Commerce Surge
In a robust reflection of an evolving logistics landscape, the United States Short Haul Road Freight Transport Market is expected to see continued growth over the next several years. Industry analysis forecasts a notable increase in market size, from USD 150.65 billion in 2024 to an anticipated USD 177.19 billion by 2029, advancing at a compound annual growth rate (CAGR) of 3.30%.
Domestic Trucking Dominates as E-Commerce Skyrockets
The domestic trucking segment stands out as a significant driver of this growth, largely propelled by the transformative impact of the e-commerce industry. The onset of the COVID-19 pandemic ushered in profound shifts in consumer behavior, which have, in turn, heavily favored the short-haul road freight sector.
Wholesale and Retail Trade Lead Market Share
The wholesale and retail trade sectors have been identified as the leading end-users in the short-haul road freight transport market. These sectors have contributed significantly to the market's expansion as they continue to invoke substantial effects on the nation's GDP.
Energy Sector Marks Fastest Growth Among End Users
The oil, gas, mining, and quarrying sectors are earmarked as the fastest-growing end-user segments within the market. This rapid expansion is bolstered by the resurgence of production activities in the oil and gas sector, which sees demand outpacing supply.
Market Fragmentation and Competitive Landscape
The market for short-haul road freight transport in the United States is notably fragmented, with key players such as FedEx, Ryder System, Schneider, United Parcel Service (UPS), and XPO Logistics Inc. leading the pack. Collectively, these companies occupy a market share of 26.70%, underscoring a competitive environment where operational excellence and strategic expansion play vital roles. The industry's trajectory suggests a stable yet dynamic market, ripe with opportunities and driven by a continuous evolution of consumer demands and industry innovations. The integration of e-commerce necessities with short-haul logistics emphasizes the sector’s critical role in the fabric of the domestic economy. As such, stakeholders within the industry remain attentive to the trends that promise to shape the landscape of road freight transport in the years to come.
A selection of companies mentioned in this report includes, but is not limited to:
- Ceva Logistics
- Deutsche Post DHL Group
- FedEx
- Knight-Swift Transportation
- Landstar System Inc.
- PS Logistics
- Ryder System
- Schneider
- United Parcel Service (UPS)
- XPO Logistics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/3q3h10
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