Truck Freight Market Report 2025 (Global Edition)

Global Truck Freight Market Report 2025 Market Size Split by Truck Type (Dry van & box truck , Refrigerated truck , Tanker truck , Flatbed truck , Others ), by End-User (Oil & Gas , Industrial ...

Truck Freight Market Report Description

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Competitive Landscape of the Truck freight Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Top Companies Market Share in Truck Freight Industry: (In no particular order of Rank)

• Panalpina
• DSV
• C.H. Robinson
• Estes Express Lines
• UPS Supply Chain
• Nippon Express
• Toll Holdings
• J.B. Hunt
• GEODIS
• DHL Group
• FedEx Freight
• Fracht
• Sinotrans
• Hellmann
• Pilot Freight Services
• NNR Global Logistics
• DB Schenker Logistics
• Kerry Logistics
• Sankyu
• MGA international
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Truck freight

Which Region Dominates the Truck freight Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The truck freight market in North America is expanding due to several factors, including rising customer demand, the growth of e-commerce, and strong manufacturing activity. The region's sophisticated logistical infrastructure and extensive road network make it well-positioned to handle this increase. Furthermore, new technological developments are raising the efficiency and competitiveness of the truck freight business in North America.

Which Region is Expanding at the Fastest CAGR?

The Europe region is witnessing an increase in the sales of reagents. Truck freight is becoming increasingly popular in Europe, thanks to causes including growing e-commerce, increasing trade, and improvements in transportation technologies. Europe has an excellent road network and effective logistical infrastructure, making it a perfect place for trucking operations. Furthermore, the adoption of greener and more effective freight transportation systems is being prompted by the continent's focus on sustainability and environmental standards.

The current report Scope analyzes Truck Freight Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Truck Freight Market Analysis

According to Cognitive Market Research, the global Truck freight market size was estimated at USD 2215642.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 886256.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031. A strong logistics infrastructure is essential for the truck freight sector in North America to grow and facilitate the effective delivery of goods across long distances. The refrigerated truck industry is one prominent area that is expanding due to the rising need for temperature-sensitive goods including prescription drugs and perishable food. With an emphasis on sustainability and technological improvements, this market offers dependable solutions for preserving product integrity across the supply chain. The truck freight market in North America is a vital component of the region's logistics ecosystem, evolving and innovating as industries and consumer demands do.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the truck freight market with a market size of USD 699256.68 million in 2024 and is projected to grow at a CAGR of 3.6% during the forecast period. The demand is amplified by the nation's vast geographical expanse. 
• The Canada truck freight market had a market share of USD 106350.83 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period. Canada's rising robust manufacturing sector.
• The Mexico truck freight market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 80649.38 million in 2024.

 

Europe Truck Freight Market Analysis

According to Cognitive Market Research, with a market value of USD 2215642.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 664692.66 million. An advanced logistics infrastructure and a well-connected road network in Europe support the truck freight industry by enabling the smooth transportation of goods throughout the continent. The dry van and box truck industry is one that is expanding noticeably; it serves a variety of sectors with its adaptability and security in the transportation of products. These vehicles are essential to meeting the changing transportation needs of the region as trade volumes rise and e-commerce thrives. The European truck freight market is well-positioned for future growth and innovation, with a strong emphasis on sustainability and continuous technological improvements promoting smooth logistics across the continent.

• The United Kingdom truck freight market had a market share of USD 111668.37 million in 2024 and is projected to grow at a CAGR of 4.9 % during the forecast period. In the UK, truck freight sales witness an upswing due to the nation's robust thriving e-commerce industry.
• The France truck freight market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 61151.72 million in 2024.
• According to Cognitive Market Research, the Germany truck freight market size was valued at USD 131609.15 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. In Germany, truck freight sales surge due to the nation's prowess in precision engineering and technology. 
• The Italy truck freight market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 57163.57 million in 2024.
• The Russia truck freight market is projected to witness growth at a CAGR of 3.1% during the forecast period with a market size of USD 103027.36  million in 2024.
• The Spain truck freight market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 54504.80 million in 2024.
• The Luxembourg truck freight market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 20605.47 million in 2024.
• The Portugal truck freight market is projected to witness growth at a CAGR of 3.9% during the forecast period with a market size of USD 13958.55 million in 2024.
• The Greece truck freight market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 7976.31 million in 2024.
• Rest of Europe truck freight market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 103027.36 million in 2024.

Asia Pacific Truck Freight Market Analysis

According to Cognitive Market Research, the global Truck freight market size was estimated at USD 2215642.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 509597.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031. With the help of vast road networks and expanding trade routes, the truck freight business is flourishing in the Asia Pacific area as a result of the region's fast industrialization and urbanization. A growing industry due to the area's agricultural output and rising demand for food items is the transportation of agricultural goods. As economies grow and supply chains become more intricate, trucks are essential for linking manufacturing facilities with consumer markets. The Asia Pacific truck freight market is expected to increase steadily due to ongoing infrastructure development and technological improvements, which will facilitate the transportation of commodities and promote regional economic growth.

• According to Cognitive Market Research, the China truck freight market size was valued at USD 229318.97 million in 2024 and is projected to grow at a CAGR of 7.1% during the forecast period. Truck freight sales surge in China due to the nation's rapid economic growth.
• The Japan truck freight market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 70324.48 million in 2024.
• The India truck freight market had a market share of USD 61151.72 million in 2024 and is projected to grow at a CAGR of 9.4% during the forecast period. The demand is augmented by India's increasing burgeoning manufacturing activities.
• The South Korea truck freight market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 50959.77 million in 2024.
• The Australia truck freight market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 26499.08 million in 2024.
• The South East Asia truck freight market is projected to witness growth at a CAGR of 8.6% during the forecast period with a market size of USD 35162.24 million in 2024.
• The Rest of Asia Pacific truck freight market is projected to witness growth at a CAGR of 7.4% during the forecast period with a market size of USD 36181.4 million in 2024.

 

South America Truck Freight Market Analysis

According to Cognitive Market Research, the global Truck freight market size was estimated at USD 2215642.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 110782.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. The truck freight industry plays a critical role in the transportation environment of Latin America by traversing a variety of terrains and linking outlying areas with urban centers. With the region's abundant agricultural resources and rising export demand, one new market is the transportation of agricultural products. Trucks are essential for enabling both domestic distribution and cross-border trade, as trade agreements and infrastructural investments spur economic growth. The Latin American truck freight market offers potential for innovation and efficiency gains due to growing urbanization and changing consumer tastes. These factors will support the region's economic growth and integration into international supply chains.

• According to Cognitive Market Research, the Brazil truck freight market size was valued at USD 47414.74 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period. Truck freight sales flourish in Brazil due to the nation's extensive investment in transportation infrastructure.
• The Argentina truck freight market had a market share of USD 18611.39 million in 2024 and is projected to grow at a CAGR of 5.9% during the forecast period. The demand is augmented by Argentina's commitment to domestic distribution.
• The Colombia truck freight market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 9859.61 million in 2024.
• The Peru truck freight market is projected to witness growth at a CAGR of 5.2% during the forecast period with a market size of USD 9084.13 million in 2024.
• The Chile truck freight market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 7976.31 million in 2024.
• The Rest of Latin America truck freight market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 17835.92 million in 2024.

 

Middle East Truck Freight Market Analysis

According to Cognitive Market Research, the global Truck freight market size was estimated at USD 2215642.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 44312.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031. The truck freight business in the Middle East and Africa (MEA) is vital to a variety of economies, traversing large stretches of terrain and linking isolated areas with major cities. The transportation of building materials is one significant industry that is expanding due to urbanization and infrastructure development initiatives. As the area experiences swift economic growth and diversification, trucks assume a crucial function in bolstering supply chains and enabling international trade. The MEA truck freight market is expected to grow further due to continuous investments in logistics and transportation infrastructure, which would also boost economic growth and improve connectivity throughout the region.

• According to Cognitive Market Research, the GCC Countries truck freight market size was valued at USD 18965.90 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period. Truck freight sales flourish in the GCC Countries due to the rapid urbanization.
• The Egypt truck freight market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 4652.85 million in 2024.
• The South Africa truck freight market is projected to witness growth at a CAGR of 6.3% during the forecast period with a market size of USD 7001.43 million in 2024. Truck freight sales flourish in the South Africa due to the population growth.
• The Turkey truck freight market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 3810.90 million in 2024.
• The Nigeria truck freight market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 4652.85 million in 2024.
• The Rest of MEA truck freight market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 5228.92 million in 2024.

Truck Freight Market Analysis

Truck freight Truck Type Segment Analysis

According to Cognitive Market Research, Dry vans and box trucks held the major market share over the forecast period. The growing need for product transportation, especially in sectors like manufacturing, e-commerce, and retail, is driving expansion in the truck freight market's dry van and box truck segments. The appeal of these vehicles among shippers and carriers can be attributed to their versatility and security for a wide range of cargo. Technological developments are also improving these cars' efficiency and safety.

Refrigerated trucks are the fastest-growing category in the forecast period. The truck freight industry is expanding in the refrigerated truck segment due to the growing demand for temperature-controlled transportation of perishable commodities, including food and medications. Refrigerated trucks are essential to preserving product integrity and quality throughout the supply chain since consumers expect more safe and fresh items. This trend in solutions for chilled transportation is spurring investment and innovation.

• Dry van & box truck 
• Refrigerated truck 
• Tanker truck 
• Flatbed truck 
• Others 

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Truck Freight Industry. Request a Free Sample PDF!

Truck freight End-User Segment Analysis

According to Cognitive Market Research, Oil and gas hold a prominent market share. The truck freight market is expanding due to the oil and gas sector, especially in areas where there are substantial energy production and distribution activities: trucks transport equipment, supplies, and materials to drilling sites, refineries, and distribution facilities. The need for trucking services in the oil and gas industry is anticipated to grow as long as exploration and production continue.

Industrial & manufacturing is the fastest-growing category over the forecast period. The truck freight market is expanding due to the industrial and manufacturing sectors, which are driven by rising production levels and increased international trade. Trucks are needed to transport components, finished items, and raw materials between warehouses, distribution centers, and manufacturing facilities. The need for trucking services in the manufacturing and industrial sectors is anticipated to grow due to ongoing industrial expansion and supply chain optimization initiatives.

• Oil & Gas 
• Industrial & Manufacturing 
• Defense 
• Energy & Mining 
• Chemicals 
• Pharmaceutical & Healthcare 
• Food & Beverages 

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Truck Freight Cargo Type Segment Analysis

According to Cognitive Market Research, Dry bulk goods held the major market share over the forecast period. The truck freight business is expanding due to the transportation of dry bulk items, which is being driven by the mining, construction, and agriculture industries. Trucks are essential for transporting goods such as construction materials, ores, cereals, and aggregates to different locations. Due to the consistent need for these products and the flexibility that trucking provides, the dry bulk industry is growing, helping propel the whole market upward.

Liquids are the fastest-growing category over the forecast period. The truck freight business is expanding due to the transportation of liquids, such as fuels, chemicals, and food items. Trucks are being used increasingly in various industries to deliver liquid cargo to clients quickly and efficiently. The liquid freight market is growing due to the increased demand for these goods and the adaptability of trucking services, which presents chances for logistics companies and carriers.

• Dry bulk goods 
• Liquids 
• Temperature controlled goods 
• Others

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion