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Report
United States Short Haul Road Freight Transport - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2029
Market Report I 2022-05-30 I 223 Pages I Mordor Intelligence
The United States Short Haul Road Freight Transport Market size is estimated at USD 150.65 billion in 2024, and is expected to reach USD 177.19 billion by 2029, growing at a CAGR of 3.30% during the forecast period (2024-2029).
Key Highlights
-Largest Segment by Destination - Domestic : In the United States, domestic trucking segment is dominant within the destination segment as short-haul road freight transport has been gaining momentum attributable to the e-commerce industry due to changes in consumer behaviors since the COVID-19 pandemic hit the country.
-Largest Segment by End User - Wholesale and Retail Trade : The wholesale and retail trade segment garnered the largest share in the United States short-haul road freight transport market as it registered a major production boost with their contribution to GDP in the previous few years.
-Fastest Growing Segment by End User - Oil and Gas, Mining and Quarrying : The fastest-growing end-user segment in the United States is oil, gas, mining, and quarrying, supported by increased production in the oil and gas sector as the demand growth has been surpassing the supply growth.
-Fastest Growing Segment by Destination - Domestic : The domestic trucking segment is the fastest growing segment attributable to the e-commerce sales over the past two years as furniture, building materials, and electronics cumulatively grew more than 200% since 2019 within the U.S.
US Short Haul Road Freight Transport Market Trends
Wholesale and Retail Trade is the largest segment by End User.
- In 2019, the end-user segment of the short-haul road freight transport market experienced a decline of 1.68% YoY in value. The oil and gas, mining, and quarrying segment of the short-haul road freight transport market experienced the highest decline of 12.91% YoY in value in 2019 due to privately held enterprises idling their drilling rigs in the United States, followed by the manufacturing segment of the short-haul road freight transport market with a decline of 2.47% due to decrease in the manufacturing output owing to weaker global demand.
- However, despite the impact of COVID-19, the end-user segment of the short-haul road freight transport witnessed a growth of 0.25% YoY in value in 2020. The agriculture, fishing, and forestry segment of the short-haul road freight transport market experienced the highest growth of 1.71% YoY in value, followed by the construction segment with a growth of 1.28% YoY in value. The growth in the agriculture, fishing, and forestry segment was due to increased demand for agricultural products globally, which resulted in increased production and exports of the goods. Whereas the manufacturing segment grew due to an increase in the value of residential construction by 4% in 2020.
- During the forecast period, the end-user segment of the short-haul road freight transport market estimated to register a CAGR of 4.41%, with the oil and gas, mining, and quarrying segment is estimated to register the highest CAGR of 8.38%, followed by the agriculture, fishing and forestry segment with a CAGR of over 5%. The oil and gas, mining, and quarrying segment is expected to grow as the US crude oil production is forecast to exceed pre-pandemic levels in 2023 due to a jump in shale output.
US Short Haul Road Freight Transport Industry Overview
The United States Short Haul Road Freight Transport Market is fragmented, with the top five companies occupying 26.70%. The major players in this market are FedEx, Ryder System, Schneider, United Parcel Service (UPS) and XPO Logistics Inc. (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 GDP Distribution By Economic Activity
4.2 GDP Growth By Economic Activity
4.3 Wholesale Price Inflation
4.4 Economic Performance And Profile
4.5 Transport And Storage Sector GDP
4.6 Logistics Performance
4.7 Modal Share Of Freight Transport Sector
4.8 Length Of Roads
4.9 Export Trends
4.10 Import Trends
4.11 Fuel Pricing Trends
4.12 Trucking Operational Costs
4.13 Trucking Fleet Size By Type
4.14 Major Truck Suppliers
4.15 Road Freight Tonnage Trends
4.16 Road Freight Pricing Trends
4.17 Regulatory Framework
4.18 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION
5.1 End User
5.1.1 Agriculture, Fishing And Forestry
5.1.2 Construction
5.1.3 Manufacturing
5.1.4 Oil And Gas, Mining And Quarrying
5.1.5 Wholesale And Retail Trade
5.1.6 Others
5.2 Destination
5.2.1 Domestic
5.2.2 International
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Ceva Logistics
6.4.2 Deutsche Post DHL Group
6.4.3 FedEx
6.4.4 Knight-Swift Transportation
6.4.5 Landstar System Inc.
6.4.6 PS Logistics
6.4.7 Ryder System
6.4.8 Schneider
6.4.9 United Parcel Service (UPS)
6.4.10 XPO Logistics Inc.
7 KEY STRATEGIC QUESTIONS FOR ROAD FREIGHT CEOS
8 APPENDIX
8.1 Global Logistics Market Overview
8.1.1 Overview
8.1.2 Porter's Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (Market Drivers, Restraints & Opportunities)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
8.7 Currency Exchange Rate
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