The truck transport market comprises of sales of truck transportation services by different entities (organizations, sole traders and partnerships) that convey the over-the-road transportation of cargo optimising the motor vehicles, such as trucks and tractor trailers. This market does not comprise household and office goods transportation services, which is a particular industry.
According to the report analysis, ‘Truck Transport Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that C.H. Robinson; J.B. Hunt Transport Services; YRC Freight; Swift Transportation; Landstar and several more are the foremost corporate which recently operating in truck transport global market more proficiently over the forthcoming duration for leading the highest market growth and registering the great value of market share around the globe more proficiently while analysing the strategies and policies of government, delivering the better consumer satisfaction, employing the young and active personnel, spreading the awareness connected to the applications and specifications of such, advancing the qualitative and quantitative measures of such, establishing the several research and development programs, and implementing the policies of enlargements and profit making.
Whereas, the global truck transport market is predicted to decline in 2019 to 2020 at a compound annual growth rate (CAGR). The decline is majorly due to economic slowdown across regions owing to the COVID-19 outbreak and the measures to entail it. The market is then anticipated to recover and augment at an effective CAGR from 2021 to 2023.
Furthermore, the Asia Pacific region was the largest region in the worldwide truck transport market, accounting the market during 2019. North America was the second largest region accounting the international truck transport market. Africa was the smallest region in the worldwide truck transport market.
Not only has this, the Truck transportation companies are widely optimizing the robotics solutions to decrease the delivery time and costs. It allows truck transportation corporates move boxes and containers in and out of semitrailers and ocean freight containers, notwithstanding of its shape and size. Robotics majorly supports truck transportation companies decrease the labor costs while speeding up shipment processing and delivery duration. Therefore, courier delivery, logistics and material handling corporates such as UPS, DHL, and FedEx are testing robotic loading and unloading of asymmetrical parcels. For instance, DHL begun testing Baxter and Sawyer robots for co-packing and value-added tasks, likewise packaging, assembly, kitting, and pre-retail services, during 2016. Earlier, material handling systems company Wynright Corporation had established the Robotic Truck Unloader (RTU) in 2013. It is an autonomous robotic machine that can be utilized to unload floor-loaded products from truck trailers or the ocean freight containers.
Nonetheless, the major or organized companies in truck transport global market are effectively opting the strategies of enlargements such as partnership, new product development, joint ventures, amalgamation and several others for generating the high percentage of revenue and obtaining the competitive edge. Therefore, in the near years it is predicted that the market of truck transport will increase around the globe more proficiently over the forthcoming duration.
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Ankur Gupta, Head Marketing & Communications