The truck transport market comprises of sales of truck transportation services by different entities (organizations, sole traders and partnerships) that convey the over-the-road transportation of cargo optimising the motor vehicles, such as trucks and tractor trailers. This market does not comprise household and office goods transportation services, which is a particular industry.
According to the report analysis, ‘Truck
Transport Global Market Report 2020-30: Covid 19 Impact and Recovery’
states that C.H. Robinson; J.B. Hunt Transport Services; YRC Freight; Swift
Transportation; Landstar and several more are the foremost corporate which
recently operating in truck transport global market more proficiently over the
forthcoming duration for leading the highest market growth and registering the
great value of market share around the globe more proficiently while analysing
the strategies and policies of government, delivering the better consumer
satisfaction, employing the young and active personnel, spreading the awareness
connected to the applications and specifications of such, advancing the
qualitative and quantitative measures of such, establishing the several
research and development programs, and implementing the policies of
enlargements and profit making.
Whereas, the global truck transport market is predicted to decline in 2019 to 2020 at a compound annual growth rate (CAGR). The decline is majorly due to economic slowdown across regions owing to the COVID-19 outbreak and the measures to entail it. The market is then anticipated to recover and augment at an effective CAGR from 2021 to 2023.
Furthermore, the Asia Pacific
region was the largest region in the worldwide truck transport market,
accounting the market during 2019. North America was the second largest region
accounting the international truck transport market. Africa was the smallest
region in the worldwide truck transport market.
Not only has this, the Truck
transportation companies are widely optimizing the robotics solutions to
decrease the delivery time and costs. It allows truck transportation corporates
move boxes and containers in and out of semitrailers and ocean freight
containers, notwithstanding of its shape and size. Robotics majorly supports
truck transportation companies decrease the labor costs while speeding up
shipment processing and delivery duration. Therefore, courier delivery,
logistics and material handling corporates such as UPS, DHL, and FedEx are
testing robotic loading and unloading of asymmetrical parcels. For instance,
DHL begun testing Baxter and Sawyer robots for co-packing and value-added
tasks, likewise packaging, assembly, kitting, and pre-retail services, during
2016. Earlier, material handling systems company Wynright Corporation had
established the Robotic Truck Unloader (RTU) in 2013. It is an autonomous
robotic machine that can be utilized to unload floor-loaded products from truck
trailers or the ocean freight containers.
Nonetheless, the major or organized
companies in truck transport global market are effectively opting the strategies
of enlargements such as partnership, new product development, joint ventures,
amalgamation and several others for generating the high percentage of revenue
and obtaining the competitive edge. Therefore, in the near years it is
predicted that the market of truck transport will increase around the globe
more proficiently over the forthcoming duration.
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Transportation Global Market Forecast To 2022
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Transportation Global Market Report 2019
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Ankur Gupta, Head Marketing & Communications
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