PUBLISHER: The Business Research Company | PRODUCT CODE: 1680382
PUBLISHER: The Business Research Company | PRODUCT CODE: 1680382
Specialized freight trucking refers to the transportation of unique cargo that necessitates special handling and equipment. This includes items such as heavy machinery, hazardous materials, temperature-sensitive goods, and oversized products. Companies operating in this sector employ specialized vehicles, including flatbeds, tankers, and refrigerated trailers, as well as trained personnel to ensure adherence to safety regulations and facilitate efficient delivery.
The primary categories within specialized freight trucking encompass automobiles and heavy equipment, bulk liquids, dry bulk materials, forest products, and refrigerated goods. Automobiles refer to passenger vehicles designed for public road use, featuring four wheels and powered by a gasoline or diesel internal-combustion engine. Heavy equipment includes robust machines utilized in construction, forestry, agriculture, and mining, capable of tasks such as earth movement, drilling, lifting, grading, suction, plowing, and compaction.
The specialized freight truckingmarket research report is one of a series of new reports from The Business Research Company that provides specialized freight truckingmarket statistics, including global market size, regional shares, competitors with a specialized freight truckingmarket share, detailed specialized freight truckingmarket segments, market trends and opportunities, and any further data you may need to thrive in the specialized freight truckingindustry. This specialized freight truckingmarket research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The specialized freight trucking market size has grown strongly in recent years. It will grow from $1200.54 billion in 2024 to $1306.73 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to surge in oil and gas exports, strong economic growth in emerging markets, increased production and consumption of chemicals, and low interest rate environment.
The specialized freight trucking market size is expected to see strong growth in the next few years. It will grow to $1737.3 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rising demand for raw materials from the manufacturing industries and rising urbanization will drive the market growth. Major trends in the forecast period include rising demand for raw materials from the manufacturing industries and rising urbanization will drive the market growth.
The growth of the specialized freight trucking market is supported by stable economic growth projected in many developed and developing countries. For example, in April 2024, the International Monetary Fund (IMF), a US-based government organization, reported that the global economy is expected to grow at a rate of 3.2 percent in both 2024 and 2025, consistent with the growth observed in 2023. Advanced economies are predicted to experience a slight increase, with growth rising from 1.6 percent in 2023 to 1.7 percent in 2024, reaching 1.8 percent in 2025. Additionally, recovering commodity prices, following a significant decline in previous years, are expected to contribute to the market's growth. Developed economies are anticipated to maintain stable growth throughout the forecast period, while emerging markets are likely to continue growing at a slightly faster pace than their developed counterparts. This stable economic growth is expected to boost investments in end-user markets, further driving the specialized freight trucking market during the forecast period.
The specialized freight trucking market is expected to experience growth propelled by the expansion of the E-commerce industry. E-commerce involves the online trading of products, services, and the exchange of money and data. Specialized freight trucking plays a crucial role in the last-mile delivery of goods to customers' homes, ensuring faster delivery by bringing inventory closer to the end-users. As an example, data from the United States Census Bureau reveals a 6.6% increase in retail e-commerce sales, reaching $269.5 billion in Q2 2023 in the United States. Consequently, the growth of the E-commerce industry becomes a driving force for the specialized freight trucking market.
Truck transportation companies are increasingly adopting collision mitigation technology to mitigate the loss of lives and damage associated with accidents. The collision mitigation system is designed to identify potential collisions and promptly alert the driver, providing an opportunity for preventive action. These systems are integrated into the vehicles and can automatically intervene in the event of an impending accident, acting without requiring input from the driver. Many countries globally are incorporating these systems as standard features in new trucks. For example, data from the US Department of Transportation reveals that twenty automakers committed to equipping nearly all new passenger vehicles with a low-speed Automatic Emergency Braking (AEB) system, including forward collision warning (FCW), by 2022. This technology has proven effective in preventing and mitigating front-to-rear crashes, potentially averting nearly 2000 crashes annually. Key companies manufacturing these collision mitigation systems for trucks include Delphi Automotive LLP, Robert Bosch GmbH, Denso Corporation, Autoliv, Inc., and General Electric Company.
Major companies are actively developing innovative solutions, including proprietary technology, to offer reliable services to customers. Proprietary technology encompasses a combination of processes, tools, or interconnected systems. For instance, in September 2023, WARP, a US-based provider of a tech-powered freight network, introduced gLTL. This technology allows shippers to access a wide range of vehicle sizes, from sedans to SUVs and sprinter vans, and unlock additional capacity at accelerated rates. The new service covers various delivery and logistics options, such as direct-to-store delivery, inventory transfers to fulfillment centers, warehouse-to-warehouse transfers, and last-mile delivery.
Major companies operating in the specialized freight trucking market include Old Dominion Freight Line, J.B. Hunt Transport Services, Knight-Swift Transportation Holdings, XPO Logistics, FedEx Freight, Schneider National, Saia Inc., Landstar System, YRC Worldwide, R+L Carriers, Estes Express Lines, Averitt Express, CRST International, AAA Cooper Transportation, Southeastern Freight Lines, ArcBest Corporation, Forward Air Corporation, Roadrunner Transportation Systems, Dayton Freight Lines, Central Transport, Pitt Ohio Express, Holland Regional, Old Dominion Truck Leasing, Ward Transport and Logistics, A. Duie Pyle, Wilson Trucking Corporation, Bennett International Group, Black Horse Carriers, Hub Group
Asia-Pacific was the largest region in the specialized freight trucking market in 2024. North America was the second largest region in the specialized freight trucking market. The regions covered in the specialized freight trucking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the specialized freight trucking market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The specialized freight trucking market includes revenues earned by entities by providing transportation services for specialized goods that must be delivered to customers quickly. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Specialized Freight Trucking Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on specialized freight trucking market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for specialized freight trucking ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The specialized freight trucking market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.