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.
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.
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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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