The road freight transportation segment in North America was valued at almost USD 448 billion in 2016 and is expected to surpass USD 551 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the road freight transportation segment in North America, under its packaging portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like UPS, FedEx Freight, J.B. Hunt Transport Services, YRC Worldwide, Swift Transportation, and Schneider National.
According to Sharan Raj, a lead analyst for packaging research at Technavio, “The increase in the level of economic activity in the US will drive the growth of the road freight transportation market in North America. The industries use different kinds of road transportation services for their business operations, and this will boost the demand in this market segment during the forecast period.”
The growth in the economy, procurement, production, and sales activities in the region is attributing to the progress of road freight transportation industry in North America. Industries like manufacturing, FMCG, IT and electronics and food and retail is increasing productivity and will result in high demand for material transporting activities.
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Use of alternative fuels
The road freight vehicles are opting for alternative fuels due to the increasing cost of fuel, government regulations, and environmental concerns. The different types of alternative fuels used in the market include natural gas, biodiesel, and propane. The extensive use of alternative fuel will decrease the effect of carbon emissions in the North American market.
Introduction of self-driven trucks
Various vendors in the automotive industry are investing in self-driving technology. The adoption of driverless trucks is expected to reduce the cost of cargo transport substantially and is likely to increase safety in road transportation. These are usually large electric-powered and long-haul trucking vehicle that will revolutionize the market during the forecast period.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Road Freight Transportation Segment in North America 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Rail Logistics Market 2017-2021
- Global Intelligent Transport System Market 2016-2020
- Global Smart Railways Systems Market 2016-2020
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