Business Research Company Global Local Transportation Market Report 2021 – Impact and Recovery of COVID-19
LONDON, GREAT LONDON, UK, 1 November 2021 /EINPresswire.com/ – The integration of the Internet of Things (IoT) into the transport sector is a key trend that is gaining popularity in the overall local freight market. The IoT is expected to transform the transport sector by gathering vital data and information from market and technology developments related to data analytics and mobility automation and provide benefits in fleet management and location tracking. Companies around the world are finding the most interesting ways to take advantage of the Internet of Things for greater productivity and efficiency. For example, Kuehne + Nagel, a transport and logistics company based in Switzerland, uses IoT to monitor goods, which helps to warn of temperature, humidity, pressure, shock and tilt at parcel level.
The size of the global general freight transport market is expected to grow from $ 111.84 billion in 2020 to $ 125.24 billion in 2021 with a compound annual growth rate (CAGR) of 12%. The increase is mainly due to the reorganization of companies’ operations and recovery from the impact of COVID-19, which had previously led to restrictive control measures that included social distancing, distance work and closure of commercial activities that resulted in operational challenges. The market is expected to reach $ 170.80 billion in 2025 with a CAGR of 8.1%.
Increased e-commerce sales are expected to boost the growth of the local freight market in the coming years. E-Commerce refers to buying and selling products and services online. The e-commerce industry relies on the transportation of trucks to move their items from one place to another and directly affects the truck industry. For example, according to the U.S. Census Bureau, in 2020, U.S. consumers spent $ 211.5 billion in the second quarter, up 31.8% from the previous quarter. Increasing e-commerce sales increases the demand for freight transport and thus boosts the growth of the local freight transport market.
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The major players involved in the global local freight industry are YRC Worldwide Inc., JB Hunt Transport Services Inc., FedEx Corporation, XPO Logistics Inc., Knight-Swift Transportation Holdings Inc., American Rail Center Logistics, DHL, United Parcel Service, Challenger Motor Freight Inc, Creed Freight System, JR Traffic Service, LEASE-SERV TRANSPORTATION, Schneider national, Landstar, Swift Transportation.
TBRC global total global freight market ratio is segmented by type in truck transport, less than truck transport, intermodal transport, dry bulk transport, etc., by size in heavy trucks, medium trucks, light trucks, according to application in oil and gas, industry and production, energy and mining, food and beverage, pharmaceuticals and healthcare, other.
Global Local Transportation Market Report Local Local 2021 – By Type (Truck Transport, Less Truck Transport, Intermodal Transport, Dry Wholesale Transport), By Size (Heavy Trucks, Medium Trucks, Light Trucks) , by application (oil and gas, Industrial and Manufacturing, Energy and Mining, Food and Beverage, Pharmaceuticals and Healthcare), the Impact and Recovery of COVID-19 is one of a series of new reports from the Business Research Company that provides a summary general local freight transport market forecast, general local freight transport forecast The size and growth of the truck market for the whole market, segments and general geographies of the local freight transport market, general truck market trends freight, general truck market leaders, restrictions, revenue of key competitors, profiles and market essays.
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