London, UK—A new report has predicted the trucking companies that will be market leaders in North America. The forecast covers the period from 2017 to 2021
According to the market research analysis, by UK-based Technavio, the road freight transportation market in North America is fragmented with the presence of several small vendors, in addition to the key vendors who have a vast geographical presence in the road freight transportation and supply chain business.
The market is capital-intensive and requires hi-tech technologies. Vendors in the market are focusing on providing different types of value-added logistics services such as assortment and grading of products, packaging, and other legal formalities necessary in the process.
However, there are few players in the market that provide one-stop solutions. Shippers prefer to choose freight service providers that provide one-stop solutions and avoid the unpredictability of outsourcing tasks to different vendors.
According to Sharan Raj, an analyst at Technavio for packaging research, “Vendors are focusing on expanding their geographical reach and realigning their product offerings to reduce operational costs, and remain competitive by targeting high-growth segments, and strengthening their financial position in the market.”
The following key vendors are expected to rule the market:
UPS: UPS provides supply chain management (SCM) and global package delivery services. The company offers logistics services to the global market, including distribution, transportation, contract logistics, ocean freight, ground freight, air freight, customs brokerage, financing, and insurance. It serves over 220 countries and territories worldwide.
FedEx Freight: The company provides customers with a portfolio of services in the transportation and distribution sector. These include FedEx Office, FedEx Freight shipping, FedEx Ground, FedEx Express, shipping, pick-up, shipment tracking, and invoicing services.
J.B. Hunt Transport Services: J.B. Hunt provides truckload freight and transport services. It has collaborated with third-party North American rail carriers to provide freight transportation services in Canada, the US, and Mexico. It transports general merchandise, consumer items, forest and paper products, automotive parts, electronic goods, agricultural products, and food and beverages.
YRC Worldwide: YRC Worldwide offers shipping of industrial, commercial, and retail goods. It is the holding company for a portfolio of successful brands, including YRC Freight, YRC Reimer, New Penn, Holland, and Reddaway.
Swift Transportation: Swift Transportation operates a fleet of trucks in North America. It serves various customers primarily in the retail, discount retail, consumer products, food and beverage, manufacturing, and transportation and logistics industries. The company also provides freight brokerage, logistics management services, and support services to customers.
Schneider National: Schneider National has 166 facilities with 6.5 million square feet of warehouse space operated worldwide. The company operates in Canada, the US, Mexico, and China. It serves most of the Fortune 500 companies.