Global Freight Trucking Market Worth US$2.7 Trillion

The global freight trucking market is projected to be worth US$2.7 trillion by 2026.

California, TechnoBusiness Insights (English Edition) • Transportation of goods is a very crucial service in the world of commerce, both local and international. The value was not kidding.

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A market study report published by Global Industry Analyst Inc., a market research firm based in San Jose, California, entitled “Freight Trucking-Global Market Trajectory & Analytics” reveals this.

The report states that the global freight trucking market in 2020 or the Year of the Pandemic is worth US$2.1 trillion.

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The global freight trucking market value is projected to grow at a CAGR of 4.7% to reach US$2.7 trillion in 2026.

The global freight trucking market value is contributed by various segments, including truck trailers, lorry tanks, flatbet trucks, refrigerator trucks, etc.

The US controls 24.07% of the global freight trucking market with a value of US$514.7 billion in 2021. China is likely to contribute US$586.8 billion in 2026.

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Other countries that contribute the largest global freight trucking market value are Japan, Canada, Germany, South Korea, Italy, Australia, etc.

Text: TechnoBusiness Insights

Data: Global Industry Analytics, Inc., June 2021

Photo: Free-Photos/Pixabay

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