Fleet management system market to garner $64.9 billion by 2031
As per the report published by Allied Market Research, the global fleet and transportation management system for transportation and logistics market was accounted for at $24.9 billion in 2021, and is expected to reach $64.9 billion by 2031, growing at a CAGR of 10.3% from 2022 to 2031. The report is an essential and helpful source of
What’s ahead for trucking market in 2023
Christmas came early everyone! It’s our annual conversation with ACT Research President and Senior Analyst Kenny Vieth in which we unpack what happened in the trucking market this year, take stock of how close the market predictions were last year and take a look ahead at what’s coming down the road in Q1 of 2023
Rand McNally expands its breakthrough vehicle telematics platform into new markets
Rand McNally, recently announced the expansion of its Rand Platform into additional field service markets. The API-first platform, which already counts Toyota, Avis, and Aramex as customers, has several new offerings tailored for field service customers, from small to large fleets, from construction companies to oil, gas, and mining operations. With a number of automated features that
Report: Global electric truck market size to reach 1,413,694 units by 2030
Due to the rising emissions levels and increasing prices of petroleum, along with petroleum’s limited availability, there has been a growing demand for zero-emission fuel vehicles, noted a new report from MarketsandMarkets, a company that provides B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. This
NTEA releases fall 2022 U.S. Commercial Vehicle Market Report
The fall 2022 U.S. Commercial Vehicle Market Report was released in conjunction with NTEA’s Executive Leadership Summit, in Baltimore, Md., during a session on trends within the commercial vehicle population led by representatives from Commercial Truck Trader, S&P Global Mobility and NTEA. “The commercial vehicle market is rapidly changing due to many factors, including the
August US used truck data is messy in the details
Preliminary used Class 8 retail volumes (same dealer sales) increased 43% month-over-month but were 15% lower compared to August of 2021, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Other data released in ACT’s preliminary report included month-over-month comparisons for August 2022, which showed
Why tracking truck maintenance data matters
Tracking maintenance data is crucial in managing the health of your fleet. Maintenance data offers a wealth of information on assets and can reduce downtime and unnecessary expenses. Tracking maintenance data for your fleet is beneficial in several ways, such as determining points of failure in preventive maintenance (PM) schedules, reducing repairs by becoming more
Used truck sales data in July ends in a twist
Preliminary used Class 8 retail volumes (same dealer sales) fell 8% month-over-month, and were 47% lower compared to July of 2021, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Other data released in ACT’s preliminary report included month-over-month comparisons for July 2022,
Mild recession now base case in forecasting of NA CV markets
According to ACT’s latest release of the North American Commercial Vehicle OUTLOOK, ACT lowered their GDP forecast, but continues to believe there is enough pent-up demand, and built-up purchasing power among consumers, albeit mitigated by inflation, to support growth in 2022. ACT’s analysts also believe tighter monetary policy will lead to GDP contraction in the first half
Freight market pendulum gains momentum
ACT Research released the latest installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report, which noted that growing evidence of weaker goods consumption, rising services substitution and rebuilt inventories, with some categories now overstocked, was the most impactful news in freight this month. “Recent reports from key retailers, including price cuts and order cancellations
