Full Truckload Transportation Market in North America 2017-2021

Overview of the full truckload transportation market in North America

According to Technavio’s research analysis, the declining oil prices will be one of the major factors that will have a positive impact on the growth of the full truckload transportation market in North America till 2021. The fuel costs are one of the key factors that needs high attention in the trucking industry. The declining fuel prices across the globe due to the lower crude oil costs has largely benefitted the trucking companies. Moreover, the year-over-year growth rate reduced by nearly 50% compared with the value in 2015. Such a sharp decrease has led the trucking companies to plan their operations based on the demand rather than the fuel savings. The low cost has also resulted in better profit numbers for logistics companies. This decline in the fuel cost will propel the growth of the full truckload transportation market in North America during the forecast period. Our market research analysts predict that this market will register a revenue of more than USD 461 billion by 2021.

The rising popularity of RFID tags is one of the key trends that will contribute to the market growth in the forthcoming years. The rise in utilization of RFID tags lowers the time for freight companies to detect trucks at numerous locations, such as warehouse gates or cross-border gates. Other applications, such as capturing the arrival and departure time of a truck or including a reader at the fueling depot helps companies track the fuel consumption of vehicles. These advantages will increase the implementation of RFID tags by trucking companies in the future.

Competitive landscape and key vendors  

The full truckload transportation market in North America consists of numerous vendors. To improve their market shares, the vendors in this marketspace are focusing on expanding their geographical reach and are also concentrating on realigning their product offerings to reduce operational costs.

The leading vendors in the market are –

• FedEx
• J.B. Hunt Transport Services
• Knight-Swift Transportation
• Schneider National
• UPS
• YRC Worldwide

The other prominent vendors in the market are NFI Industries, Ryder System, Werner, and XPO Logistics. 

Segmentation by type of products and analysis of the full truckload transportation market in North America

• Food and beverages products
• Agricultural products
• Metals

During 2016, the food and beverages product segment accounted for the major shares of the full truckload transportation market in North America. Factors such as the rise in the consumption of packaged food and beverage products and increased spending on these products will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the full truckload transportation market in North America

• Canada
• Mexico
• US

This market study estimates that in terms of geographic regions, the US will be the major revenue contributor to the full truckload transportation market in North America throughout the forecast period. The increased industrial production and transportation necessity for raw materials to industries or end-user products to consumers will drive the market growth in the US.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the full truckload transportation market in North America?
• What are the key market trends impacting the growth of the full truckload transportation market in North America?
• What are the challenges to market growth?
• Who are the key vendors in the full truckload transportation market in North America?
• What are the market opportunities and threats faced by the vendors in the full truckload transportation market in North America?
• Trending factors influencing the market shares of North America.
• What are the key outcomes of the five forces analysis of the full truckload transportation market in North America?

Technavio also offers customization on reports based on specific client requirement.