Dublin, Feb. 15, 2021 (GLOBE NEWSWIRE) -- The "Forest Products Trucking Global Market Report 2020-30: COVID-19 Growth and Change" 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 forest products trucking market.
The global forest products trucking market is expected to decline from $175.77 billion in 2019 to $173.78 billion in 2020 at a compound annual growth rate (CAGR) of -1.1%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $214.23 billion in 2023 at a CAGR of 7.2%.
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Description:
Where is the largest and fastest growing market for the forest products trucking? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Forest Products Trucking market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider forest products trucking market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- 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 growth 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 forest products trucking market section of the report gives context. It compares the forest products trucking market with other segments of the forest products trucking market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, forest products trucking indicators comparison.
The forest products trucking market consists of sales of forest products trucking services and related goods by entities (organizations, sole traders and partnerships) that provide over-the-road transportation of forest products. Only goods and services traded between entities or sold to end consumers are included.
The Asia-Pacific was the largest region in the forest products trucking market in 2019.
In August 2018, Leavitt's Freight Service, a US-based specialty carrier of utility poles and engineered wood products, merged with Daseke-affiliated Central Oregon Truck Company. The merger will allow both the companies to cut costs by sharing each other's facilities for service, maintenance, and fuel as both the companies operate in the Northwest along the I-5 corridor.
The forest products trucking market covered in this report is segmented by type into log transport; chip transport.
The shortage of truck drivers is a major challenge in the forest products trucking market. According to the American Trucking Association's (ATA) USA estimates, there is a shortage of 50,000 truck drivers and this is expected to increase to 174,000 by 2026. Moreover, according to an article in the Canadian Press, due to the shortage of truck drivers, Weyerhaeuser, an American timberland company, lost $10 million to $15 million in the fourth quarter. By 2024, the average age of truck drivers is expected to be 50, the shortage is expected to be between 38,000 or 48,000, and more than 10,000 trucker drivers retire every year. Therefore, the shortage of truck drivers is expected to limit the growth of the forest products trucking market.
The increase in demand for wood-based raw materials drives the demand for the forest products trucking market. According to the Food and Agriculture Organization's Annual Market Review 2018 - 2019, the total consumption of roundwood logs for industrial use and fuel in the UNECE region was estimated to be 1.4 billion m3 in 2018, which is an increase of 5% over that of 2017. The consumption of wood-based panels grew by 1.3%. International trade of softwood logs reached 93 million m3 in 2018, which is a 52% increase over the last ten years. The rise in demand for wooden raw materials boosted the demand for trucking forest products and positively affected the forest products trucking market.
Key Topics Covered:
1. Executive Summary
2. Forest Products Trucking Market Characteristics
3. Forest Products Trucking Market Size and Growth
3.1. Global Forest Products Trucking Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Forest Products Trucking Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Forest Products Trucking Market Segmentation
4.1. Global Forest Products Trucking Market, Segmentation by Type
5. Forest Products Trucking Market Regional and Country Analysis
5.1. Global Forest Products Trucking Market, Split by Region
5.2. Global Forest Products Trucking Market, Split by Country
6. Asia-Pacific Forest Products Trucking Market
7. China Forest Products Trucking Market
8. India Forest Products Trucking Market
9. Japan Forest Products Trucking Market
10. Australia Forest Products Trucking Market
11. Indonesia Forest Products Trucking Market
12. South Korea Forest Products Trucking Market
13. Western Europe Forest Products Trucking Market
14. UK Forest Products Trucking Market
15. Germany Forest Products Trucking Market
16. France Forest Products Trucking Market
17. Eastern Europe Forest Products Trucking Market
18. Russia Forest Products Trucking Market
19. North America Forest Products Trucking Market
20. USA Forest Products Trucking Market
21. South America Forest Products Trucking Market
22. Brazil Forest Products Trucking Market
23. Middle East Forest Products Trucking Market
24. Africa Forest Products Trucking Market
25. Forest Products Trucking Market Competitive Landscape and Company Profiles
25.1. Forest Products Trucking Market Competitive Landscape
25.2. Forest Products Trucking Market Company Profiles
25.2.1. GoodLogistics
25.2.1.1. Overview
25.2.1.2. Products and Services
25.2.1.3. Strategy
25.2.1.4. Financial Performance
25.2.2. Timber Products Company
25.2.2.1. Overview
25.2.2.2. Products and Services
25.2.2.3. Strategy
25.2.2.4. Financial Performance
25.2.3. Fr. Meyer's Sohn (GmbH & Co.) KG
25.2.3.1. Overview
25.2.3.2. Products and Services
25.2.3.3. Strategy
25.2.3.4. Financial Performance
25.2.4. JB Hunt Transport Services
25.2.4.1. Overview
25.2.4.2. Products and Services
25.2.4.3. Strategy
25.2.4.4. Financial Performance
25.2.5. Knight Transportation
25.2.5.1. Overview
25.2.5.2. Products and Services
25.2.5.3. Strategy
25.2.5.4. Financial Performance
26. Key Mergers and Acquisitions in the Forest Products Trucking Market
27. Forest Products Trucking Market Trends and Strategies
28. Forest Products Trucking Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. About the Publisher
29.5. Copyright and Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/fr8jmw