Full Truckload Transportation Market in North America 2017-2021
About Full Truckload Transportation
Full truckload carriers transport bulk freight. The full truckload segment is likely to experience steady growth during the forecast period. These carriers ship a wide variety of items. Different types of equipment and insurance are required for different kinds of freight. Some vendors primarily transport food and perishable products, and some specialize in moving hazardous materials only. The typical truckload shipments are transported by flatbed, dry van, and refrigerated trailers.
Technavio’s analysts forecast the full truckload transportation market in North America to grow at a CAGR of 3.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the full truckload transportation market in North America for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Full Truckload Transportation Market in North America 2017-2021
Technavio recognizes the following companies as the key players in the full truckload transportation market in North America: FedEx, J.B. Hunt Transport Services, Knight-Swift Transportation, Schneider National, UPS, and YRC Worldwide.
Other Prominent Vendors in the market are: NFI Industries, Ryder System, Werner, and XPO Logistics.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing popularity of RFID tags. Electromagnetic fields are used to identify objects that are attached to RFID tags. Information, such as cargo details and date, in which the cargo is transported and time stamp are electronically stored in these fields. RFID tags have many applications in the field of transportation. ”
According to the report, one driver in the market is full truckload transportation–An integral part of intermodal transportation. Intermodal transportation uses various modes of transportation for shipping single or multiple shipments from the same source. Full truckload transportation is used to transfer the shipments to either rail or sea terminals. This is because they may not be directly connected to the shipper. The full truckload transportation segment dominates the intermodal transportation. This is because not all ports or cities are accessible through water channels. Hence, it is noticed that full truckload transportation is gaining popularity globally.
Further, the report states that one challenge in the market is competitive pricing and higher operational costs. Operational costs are constantly fluctuating because of the volatility in prices of crude oil. As the freight companies are under contract, they cannot pass on the changes in the fuel prices to their buyers. With the act of renewing contracts, customers of freight service providers negotiate for lower prices. There is a considerable increase in the demand for value-added services and specialized professional supply chain solutions. Full truckload transportation carriers are becoming increasingly competitive in terms of pricing their services. This has decreased the profitability of companies in the road freight business.
FedEx, J.B. Hunt Transport Services, Knight-Swift Transportation, Schneider National, UPS, YRC Worldwide, NFI Industries, Ryder System, Werner, and XPO Logistics.
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