Thanks to the COVID-19 pandemic-led supply and demand imbalance, most trucking operators worldwide witnessed solid freight demand. While high inflation and the Russia-Ukraine war led to high fuel prices, negatively affecting the trucking industry's near-term growth, the need for consumer goods is returning to its pre-pandemic levels. In addition, the trucking companies are also benefiting from the e-commerce boom. Moreover, rapid digitization, automation in logistics, and growing trucking services needs across sectors are expected to drive the growth of the trucking market. According to a Valuates Reports report, the global freight trucking market is expected to grow at a CAGR of 3% by 2027. Therefore, both J.B. Hunt Transport Services, Inc. (JBHT) and C.H. Robinson Worldwide, Inc. (CHRW) should benefit.
JBHT provides surface transportation, delivery, and logistic services in North America. It operates through five segments: Intermodal; Dedicated Contract Services; Integrated Capacity Solutions; Final Mile Services; and Truckload. CHRW provides freight transportation services and logistics solutions to companies worldwide.
