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Freight Trucking Market Share

Report ID: GMI5902
Published Date: Oct 2024
Report Format: PDF

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Freight Trucking Market Share

Freight Trucking Company Market Share, 2023

United Parcel Service (UPS) and DHL Express hold a significant market share of around 5% in the freight trucking industry. UPS is investing heavily in its freight and logistics infrastructure through its ‘Smart Logistics Network’. This includes new distribution hubs, technology-driven sorting facilities, and an advanced fleet. UPS aims to make its freight trucking network more efficient to handle more volume and reduce delivery times. This expansion supports both domestic and international freight, strengthening UPS's logistics operations across the globe.

DHL focuses on expanding its freight trucking services by developing multi-modal transport options and using its extensive international network. DHL has a strong presence in Europe, Asia, and North America and is increasing cross-border freight options to improve speed and reliability. This focus on connectivity provides faster and more integrated freight services in high-demand regions, allowing DHL to serve global clients with complex logistics needs.

Freight Trucking Market Companies

Major players operating in the freight trucking industry include:

C.H. Robinson
DHL Express
FedEx
J.B. Hunt
Maersk
Nippon Express
Schneider National
UPS
XPO Logistics
Yellow Corporation

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of freight trucking reached USD 2.5 trillion in 2023 and is set to grow at a 4.2% CAGR from 2024 to 2032, driven by increasing urbanization and infrastructure development.

The truck trailer segment held a 36% market share in 2023, as they are essential for transporting dry, non-perishable goods, making them ideal for the retail, consumer goods, and e-commerce sectors.

The North America market accounted for 35% of the revenue share in 2023, led by trade agreements like the USMCA and the growing U.S. manufacturing sector.

The major players in the industry include C.H. Robinson, DHL Express, FedEx, J.B. Hunt, Maersk, Nippon Express, Schneider National, UPS, XPO Logistics, and Yellow Corporation.