The industry is also projected to grow at a CAGR of 5.6% between 2024 and 2032. North America is the top country with growth in this sector, primarily due to having major market players such as Deere & Company, AGCO Corporation, and Kubota Corporation.
The freight industry has undergone significant changes in the last couple of decades. Considering the recent closures in the sector, this has highlighted the vulnerability of many companies. Exploring the ebbs and flows unveils insights into how the economy has evolved in recent years, leading to multiple trucking companies closing.