The specialized freight trucking industry group comprises the establishments primarily engaged in providing local and long-distance specialized freight trucking. Establishments of this industry are primarily engaged in the hauling/transportation of freight which, because of weight, size, shape, or other inherent characteristics, requires specific equipment for instance tankers, flatbeds, or refrigerated trailers. This industry contains the transportation of institutional, used household and commercial furniture & equipment.
As per study, “Specialized
Freight Trucking Global Market Report 2020-30: Covid 19 Impact and Recovery”
the key companies operating in the global specialized freight trucking market
include Schneider National; C.H. Robinson; UPS (United Parcel Service); Fedex
(Federal Express); J.B. Hunt Transport Services. Leading market players
operating in the food & beverages sector are mainly focused on improving
their product implementation process by streamlining logistics & catering
to the low volume high-frequency necessities of the industry. Furthermore, due
to cut-throat competition within the food & beverages sector, various food
companies are progressively more focusing on adapting to novel transportation
networks & minimizing costs. Specializing freight trucking is one of the
most popular & adopted freight transportation across the globe and the
trend is expected to continue during the forecast period.
By type, specialized freight trucking market is bifurcated as bulk liquids, refrigerated goods, automobiles and heavy equipment, forest products and dry bulk materials. By size, market is bifurcated as heavy trucks, medium trucks and light trucks. In addition, by application type, market is bifurcated as food & beverages, pharmaceutical & healthcare, energy & mining, oil & gas, industrial & manufacturing and others.
One of the significant sectors to
confront the impacts of the novel Corona-Virus (COVID-19) pandemic is the
transportation sector. The freight trucking market is likely to witness a
sluggish period amidst the approaching COVID-19 pandemic, as governments across
the globe continue to initiate the preventive measures to combat casualties and
spread of the virus. Investors in the specialized freight trucking market are
anticipated to be heavily impacted owing to the ongoing pandemic. However,
freight trucking organizations involved in the delivery of essential
goods/products and services are estimated to capitalize on the opportunity
& gain ground in the competitive market landscape. As the Corona-Virus
pandemic continues to disrupt the supply chains of major enterprises around the
world, market players associated with the freight trucking market are expected
to seek new solutions to address these challenges.
Based on geography, the
North-America region dominates the global specialized freight trucking market
owing to rise in demand for online shopping coupled with convenience & easy
access related to home delivery services across the region. The Asia-Pacific
and Europe regions are anticipated to exhibit considerable growth rate due to
rise in the middle class population across the world that has resulted in
growth in consumption and hence, is anticipated to boost the volume of goods or
products transported. Changes in consumer tastes & preferences where
individuals are inclined toward the western lifestyle have fueled the demand for
deliveries that take the lesser time. This is likely to boost the freight
trucking market during the forecast period. It is estimated that future of the
global specialized freight trucking market will be bright because of surge in
automation and expansion of the e-commerce sector during the forecast period.
For More Information,
Click on the Link Below:-
Global
Specialized Freight Trucking Market
Related Report:-
Specialized
Freight Trucking Global Market Report 2019
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
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