Lucintel Estimates Global Road Freight Transportation Services Industry to Reach US $2,021Billion in 2017
Irving, TX (PRWEB) June 16, 2012
The global road freight transportation services industryexperienced good growth over the last five years and is expected to continue that momentum to reach approximately US $2,021 billion in 2017. The industry is anticipated to have a CAGR of 2.4% over next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global road freight transportation services industryand presents its findings in “Global Road Freight Transportation Services Industry 2012–2017:Trend, Profit, and Forecast Analysis.”
The global road freight transportation services industry is fragmented. The North American region dominates this market as improvements in the shipping supply chain aredriving the growth of the road freight market in that region. A combination of factors, including high fuel costs, government regulations, and increasing road congestion, impact industry dynamics significantly.
Lucintel’s research indicates that despite a decline in 2009, the market witnessed considerable growth in the following years (2010 and 2011).Government incentives to adopt green technologies are strengthening the business case for hybrid power train systems while modest economic growth is driving demand for road freight.
According to the study,retaining drivers,a shortage of drivers, high cost of truck downtime, and highway funding are among the biggest challenges for the industry. Investment in transport infrastructure, increasing global trade activity, high demand for import and export of goods, increase in consumer demand for goods, and expanded mining activities are expected to boost the industry in the future. Asia Pacific and Rest of the World markets are expected to grow rapidly over the next 10 years due to the presence of high growth potential markets such as China, India, Vietnam, and others.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at email@example.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit http://www.lucintel.com.
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