Market Trends of united states full truckload road freight transport Industry
This section covers the major market trends shaping the US Full Truckload Road Freight Transport Market according to our research experts:
Wholesale and Retail Trade is the largest segment by End User.
- The end-user segment of the full truckload market experienced a decline of 1.63% YoY in 2019 due to the United States-China trade war and additional tariff increases on imports. The oil and gas, mining, and quarrying sector experienced a significant decline (-12.85% YoY in value) due to the slowing global economy, which was an impact of the trade war between the two countries.
- However, in 2021, the end-user segment of the full truckload market experienced a recovery of around 7.90% YoY, as the economy of the United States recovered from COVID-19 and the impact of the trade war. During the historical period (2016-2021), the full truckload market registered a CAGR of 4.31% in value, with the wholesale and retail trade segment having the maximum share, closely followed by the manufacturing sector.
- During the forecast period (2022-2028), the agriculture, fishing, and forestry segment is expected to register the highest CAGR of 7.58% followed by the oil and gas, mining, and quarrying sector with a CAGR of 7.12%. The agriculture, fishing, and forestry segment is expected to witness significant growth as agricultural production in the United States is anticipated to grow over the next decade. The oil and gas, mining, and quarrying segment of the full truckload market is expected to grow immensely as the oil and gas value chain in North America is expected to be driven by new project launches in the United States, which may account for 70% of overall projects.
Understand The Key Trends Shaping This Market
Download Sample
