Latest News- Road Freight Transportation Market in North America: Full truckload is expected to lead the Type segment during 2025-2029

The Road Freight Transportation Market in North America is being driven by Need to increase operational efficiency

The Road Freight Transportation Market in North America is expected to grow at a CAGR of 2.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 129.8 billion. Blockchain technology represents a secure and decentralized digital ledger system, comprised of interconnected blocks, where data is encrypted and stored. Each block contains a cryptographic pointer to the previous block, ensuring data integrity and preventing unauthorized alterations. In the North American road freight transportation sector, blockchain implementation enhances supply chain transparency. It enables stakeholders to trace products effectively throughout the logistics process while recording the involvement of all parties and associated product details within each transactional block. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Full truckload
  • Less-than truckload
• Product Type
  • Solid goods
  • Liquid goods
• Vehicle Type
  • Light commercial
  • Heavy commercial
• Service Type
  • Third-party logistics (3PL)
  • Express and parcel services
  • Freight forwarding
• Geography
  • North America
    • Canada
    • Mexico
    • US

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Need to increase operational efficiency
• Increasing cross-border trade
• Growth in e-commerce industry

However, the market also witnesses some limitations, which are as follows:

• Negative operational impact of new regulations
• High operational costs and competitive pricing
• Shortage of qualified truck drivers

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Market Scope in Road Freight Transportation Market in North America Research Report

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Research Analysis Overview

The North American road freight transportation market is witnessing significant growth due to increasing cross-border trade and operational efficiency in the industry. The use of technologies like blockchain and alternative fuels, such as self-driven trucks and biofuels, is driving innovation. The market's volume (ton-km) is expanding, with the logistics industry focusing on environmental conservation and reducing carbon dioxide (CO2) and greenhouse gas (GHG) emissions. Industrial activity and global trade are key factors, with Full Truckload and Less-Than-Truckload (LTL) segments thriving. Rail freight is also a competitor, but road freight's flexibility and agility make it a preferred choice for many businesses.

Market Research Overview

The North American road freight transportation market encompasses businesses specializing in truck, car, camper, bus, van, and motorbike transportation for the movement of goods and freight. According to Technavio's market analysis, key growth drivers for this sector include the surge in cross-border trade and the operational efficiency gains from implementing advanced technologies such as blockchain. The global cargo ground transportation market, which includes these North American companies, is projected to expand significantly due to increasing goods transportation volumes, particularly in emerging economies, and the long-term growth of the global economy.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/