$275 Billion Global Automotive and Heavy Equipment Trucking Market Analysis and Forecast, 2016-2021, 2021-2026F, 2031F – ResearchAndMarkets.com

The report “Automobiles and Heavy Equipment Trucking Global Market Report 2022” has been added to from ResearchAndMarkets.com offer.

The global automotive and heavy equipment trucking market is expected to grow from $275.24 billion in 2021 to $305.7 billion in 2022 at a compound annual growth rate (CAGR) of 11.1%.

The market is expected to reach $444.54 billion in 2026 at a compound annual growth rate (CAGR) of 9.8%.

Major players in the automotive and heavy equipment trucking market include American Rail Center Logistics, CEVA Logistics, DHL, FedEx Freight, United Parcel Service, Schneider National, CH Robinson, and JB Hunt Transport.

The countries covered by the automobile and heavy equipment trucking market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea South, the United Kingdom and the United States. Asia-Pacific was the largest region in the automobiles and heavy equipment trucking market in 2021. North America was the second largest region in the automobiles and heavy equipment trucking market. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing demand for autonomous transportation is expected to drive the growth of the automotive and heavy equipment trucking market in the future. To allow the automobile to react to the external conditions that a human driver will have to manage, an autonomous vehicle uses a fully automated driving system. According to the Victoria Transport Policy Institute’s Autonomous Vehicle Implementation Forecast report released in June 2020, autonomous vehicles will be reliable, affordable and safe by 2025 and are expected to be commercially available in many regions by 2030. In 2019, Amazon started using Embark’s self-driving trucks to move freight faster. Moreover, in 2020, Mercedes-Benz will launch its prototype semi-autonomous truck planned for 2025. Hence, the growing demand for autonomous transportation is driving the growth of automobiles and heavy equipment trucking market.

The evolution of technologies is a major trend that is gaining popularity in the automotive and heavy equipment trucking market. Major companies operating in the automotive and heavy equipment trucking market are banking on the development of innovative technological solutions. For example, in 2020, companies such as ACL Airshop are using CoreInsight Node technology to provide advanced unit load tracking (ULD) with a Bluetooth ULD tracking system for cargo screening, carrier shipment marking, air cargo monitoring, asset tracking and reporting solutions. CoreInsight Node technology allows producers to monitor deliveries, manage business intelligence (BI) packages and assist in remote activities by accurately monitoring cargo using ULD devices.

The impact of COVID-19 is expected to limit the growth of the automotive and heavy equipment trucking market in the coming years. The transportation industry is facing serious challenges due to the coronavirus, supply chain disruptions and national emergency delivery needs forcing fleet managers, dispatchers and drivers to work overtime, while transportation in other areas, such as restaurant supply and live event equipment, came to a halt. According to the Center for Disease Control and Prevention, the trucking industry lost more than 88,000 jobs in April 2020, down 5.8% from March, out of a total of 20.5 million job losses. jobs in the United States in various industries, placing the country’s total unemployment rate at 14.7%. Additionally, a recent survey found that almost half (48%) of carriers have seen significantly reduced freight rates in the United States. Hence, the impact of COVID-19 is restraining the growth of automobiles and heavy equipment trucking market.

In February 2019, CMA CGM SA, a French container transport and shipping company, acquired CEVA Logistics for $1.65 billion. This agreement with CEVA Logistics will enable CMA CGM SA to create economies of scale by combining the two activities. The company plans to expand its presence in the logistics sector. CEVA Logistics is a United States-based logistics and supply chain company that provides end-to-end supply chain services and solutions.

Main topics covered:

1. Summary

2. Characteristics of the Automobile and Heavy Equipment Trucking Market

3. Automotive and Heavy Equipment Trucking Market Trends and Strategies

4. Impact of COVID-19 on automobiles and heavy equipment trucking

5. Automotive and Heavy Equipment Trucking Market Size and Growth

5.1. Global Historic Automotive and Heavy Equipment Trucking Market, 2016-2021, in USD Billion

5.1.1. Market Drivers

5.1.2. Market Constraints

5.2. Global Automotive and Heavy Equipment Trucking Forecast Market, 2021-2026F, 2031F, USD Billion

5.2.1. Market Drivers

5.2.2. Market Constraints

6. Automotive and Heavy Equipment Trucking Market Segmentation

6.1. Global Automotive and Heavy Equipment Trucking Market, Segmentation by Type, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion

  • Business services

  • Managed Services

  • System integrator

  • Other types

6.2. Global Automotive and Heavy Equipment Trucking Market, Segmentation by Application, History and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD

  • Cars and light trucks

  • Medium and heavy trucks

  • Agricultural and construction equipment

  • Other Apps

6.3. Global Automotive and Heavy Equipment Trucking Market, Size Segmentation, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD

  • Heavy trucks

  • medium trucks

  • light trucks

7. Regional and Country Analysis of Automotive and Heavy Equipment Trucking Market

7.1. Global Automotive and Heavy Equipment Trucking Market, Split by Region, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion

7.2. Global Automotive and Heavy Equipment Trucking Market, Split by Country, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion

Companies cited

  • American Rail Center Logistics

  • CH Robinson

  • CEVA logistics

  • DHL

  • FedEx Freight

  • Transport JB Hunt

  • Schneider National

  • United Parcel Service

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