In September 2020, Amazon bought 10 electric trucks from Lion Electric, and they ordered 100,000 electric delivery vans from startupRivian with deliveries from 2021 to 2024. Numerous retailers and transporters are putting in huge orders of electric trucks for beverage routes and last-mile delivery. Thus, these variables, such as travel restrictions and lockdown, are affecting the development of the long-distance general freight trucking market.Įlectric trucks are being increasingly used by the long-distance general freight trucking market for transportation, which is expected to propel the market's growth.
This decrease in activity is felt more seriously in federal regions such as New York and New Jersey, with working levels at 66% of normal activity. The commercial transport activity of the United States is operating at an average of 83% of total commercial transport activity. According to an analysis by Geotab Inc., a web analytics company, there was a significant drop in commercial transport activity between March 16 and in the United States, when compared with baseline data from February 2020.
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Coronavirus lockdown limitations have restricted freight movement, raising operating expenses and increasing anxiety among drivers and crew members. Travel restrictions and lockdowns during COVID-19 are limiting the growth of the long-distance general freight trucking market. Thus, the increased manufacturing output, which results in increased trucking for transportation of the finished products, is driving the growth of the long-distance general freight trucking market. In June 2020, a Tesla semi, which is used for long haul trucking, was transporting the cars. To transport these manufactured cars, there will be a need for freight trucking. This production capacity will be 250,000 cars a year. In March 2020, Tesla planned to increase electric vehicle production capacity in China. More manufacturing output calls for more trucking to carry the freight from one place to another. The global long-distance general freight trucking market size is expected to grow to $1,170.32 billion in 2027 at a CAGR of 9.7%.Īn increase in the manufacturing output of different industries is expected to drive the growth of the long-distance general freight trucking market. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The global long-distance general freight trucking market size will grow from $732.40 billion in 2022 to $809.43 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. This long-distance general freight trucking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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The long-distance general freight trucking market research report is one of a series of new reports from The Business Research Company that provides long-distance general freight trucking market statistics, including long-distance general freight trucking industry global market size, regional shares, competitors with a long-distance general freight trucking market share, detailed long-distance general freight trucking market segments, market trends and opportunities, and any further data you may need to thrive in the long-distance general freight trucking industry. It is also segmented by size into heavy trucks, medium trucks, and light trucks and by application into oil and gas, industrial and manufacturing, energy and mining, food and beverages, pharmaceuticals and healthcare, and others. The market is segmented by activities into general long-distance truckload transit, general long-distance less-than-truckload transit, logistics planning, container trucking long-distance, and motor freight trucking long-distance. The general long-distance truckload carriers provide long-distance general freight trucking between metropolitan areas. The main services in the long-distance general freight trucking market are general long-distance truckload carriers, general long-distance less-than-truckload carriers, and other transportation services. Long-distance general freight trucking is a mode of transportation that uses motor vehicles such as trucks to transport a variety of commodities, which are generally palletized and transported in a container or van trailer for carriage of domestic and commercial goods, typically between metropolitan areas and may cross country borders.
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