Freight
Trucking Market: Overview
Freight trucking is an
extremely important activity in the supply chain market and transportation
business. Effective working of freight trucks ensures proper communication
between different business processes and brings them together. Freight trucks
forms the nerve center of any manufacturing or industrial activities as freight
trucks carries raw materials required for business from one place to another.
Moreover, freight trucks also help in transportation of finished goods to the
respective markets. The efficient movement of freight is acting as a driving
factor in the growth of freight trucking market. Freight trucking service is
providing more advanced freight solution for the industry due to increased use
of modern technology and effective communication.
Quality of service, reliability
and timely delivery of goods along with proper freight management and logistics
handling are the key factors on which the service of the freight trucks
depends. There is a substantial growth in demand for heavy vehicles including
trucks and trailers which acts as a driver for the freight trucking market.
Moreover, adoption of latest technology in trucks such as use of hydraulics
lifters and GPS navigation systems also drives the market for freight trucking.
Moreover, safety in freight operations, reduction in cost and operational
efficiency also increase the demand for freight trucks and thus drive the
market.
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Freight Trucking Market: Region-wise Insight
Asia-Pacific is the most
attractive region for freight trucking market. Increase in infrastructural
activities in the Asia-pacific region is mainly driving the freight
trucking market as infrastructural development and construction activities
requires transportation of equipments and goods from one place to another. In
addition, the adoption of latest technology i.e. hydraulics lifters and
automated doors used in freight trucks further also drives the freight trucking
market in this region. Hydraulics lifters facilitate easy loading of goods in
the freight trucks with less human effort. Automated doors act as a vacuum lock
ensuring safety of goods and prevent unauthorized access to the valuable items
in the trucks.
Thus, increase in productivity
and less time consumption without compromising on cost drives the market.
Escalating demand of HCV (heavy commercial vehicle) in the emerging countries
like India and China is also driving the freight trucking market. The North
America and Europe market for freight trucking is expected to grow at a steady
pace over the forecast period. Steady recovery from the recent economic
meltdown is responsible for the growth of business activities and manufacturing
operations in North America which is driving the market for freight trucking in
the region.
Presence of premium truck
manufacturers such as Mercedes Benz, DAF, Volvo and Renault is driving the
freight trucking market in Europe. The freight trucking market in Europe is
mainly driven by quality of service and timely delivery. Thus the market
is expected to continue its growth at a steady pace over the forecast period.
Europe market faced steep challenge in the recent economic meltdown and is
recovering at a steady pace which also in turn increased the demand for freight
trucking market due to increase in industrial activities.
Freight
Trucking Market: Key Players
Global key participants in the
industry include UPS, Descartes System Group, DSV, DHL, CEVA Logistics, JDA
Software, SNCF Geodis, Manhattan Associates, Kuehne+Nagel Inc, and DB
Schenkerand.
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