Truck Transport Market

Transport by truck is essential to our economy. In addition to transporting goods from A to B, it also plays an important role in the food industry. In fact, truck transport accounts for approximately twenty percent of all food shipments.

The market for truck transport drivers and restraints is projected to reach $** billion by 2031, expanding at a CAGR of **% during the period of forecast. Rising demand for goods transportation and the need to reduce pollution levels are the primary drivers of this growth.

By 2031, the Asia-Pacific region is anticipated to hold the largest share of the global truck transport market. Between 2018 and 2031, the Asia-Pacific region is projected to grow at a compound annual growth rate (CAGR) of **%. Increased investment in infrastructure and development initiatives in key regions such as China, India, and Southeast Asia, as well as favorable economic conditions, are credited with this growth.

The truck transportation market is segmented by vehicle type and geography. The segment by vehicle type is comprised of heavy-duty trucks, medium-duty trucks, and light-duty trucks.

Cummins Incorporated (U.S.), Daimler AG (Germany), Paccar Incorporated (U.S.), Volvo AB (Sweden), Navistar International Corporation (U.S.), MAN SE (Germany), Iveco SA (Italy), BYD Auto Co., Ltd. (China), JCB Group Limited (U.K.), Renault SA (France), and Volkswagen AG (Germany) are the major players in the truck transport market (Germany).