September 11, 2023
3 min

Freight Trucking Market to surpass $430 Bn by 2032, Says Global Market Insights Inc. - Yahoo Finance

The global freight trucking market is projected to reach USD 430 billion by 2032, driven by the increasing reliance on telematics technology in the automotive sector. Telematics revolutionizes the trucking industry by providing real-time data and insights. The refrigerated freight trucking market is expected to see high demand due to the growth of e-commerce and cold chain logistics. The oil and gas segment is also expected to contribute to market growth. North America is set to reach USD 135 billion in the freight truck market, driven by efforts to reduce carbon emissions and the growth of e-commerce. Major market players include A.P. Moller – Maersk, DHL Express, and FedEx Corporation, among others. Strategic business tactics such as partnerships, acquisitions, and new product launches are being utilized to consolidate market share.

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Adhikansh Gupta
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Writer and editor who covers the latest trends and innovations in the software-as-a-service (SaaS) industry