Trucking News Roundup: Market Growth, Operational Costs, and Regulatory Changes
Freight Trucking Market to Reach USD 3768.1 Billion by 2032 The global freight trucking market is projected to reach USD 3768.1 billion by 2032, up from USD 2670 billion in 2023, reflecting a CAGR of 3.9% from 2024-2032, according to SNS Insider. This growth is driven largely by the booming e-commerce industry, which demands efficient door-to-door delivery services. The rise in just-in-time inventory management practices across various industries further fuels the demand for reliable trucking services. Notably, China’s surge in heavy truck sales, bolstered by strong export networks, exemplifies this trend, with a reported 68% increase in sales in 2023 compared to the previous year. Trucking Fleets Prioritize Operational Costs for 2024 A survey conducted by Shell Fleet Solutions and the NAFA Fleet Management Association highlights that the top concern for trucking fleets in 2024 is the total cost of ownership. The survey, which included insights from fleet stakeholders