Mergers and acquisitions across the trucking and wider transportation sector are expected to accelerate in 2026, driven by easing borrowing costs and improving visibility around global trade policies, according to a recent analysis by PwC.
Industry experts note that a prolonged period of high interest rates and weak freight pricing had forced many dealmakers to postpone transactions. However, with the U.S. Federal Reserve shifting decisively toward monetary easing, those shelved deals are now likely to return to the negotiating table.
The Federal Reserve closed 2025 after delivering its third consecutive monthly interest rate cut and raised its forecast for U.S. economic growth in 2026 to 2.3%, reflecting growing confidence in a soft landing. Since September 2024, policymakers have reduced benchmark rates six times, significantly lowering the cost of capital for corporate buyers.
Lower Cost of Capital Rekindles Deal Appetite
As financing becomes more affordable, transportation companies and private equity investors are expected to pursue expansion through acquisitions rather than organic growth alone. Analysts caution, however, that the influx of capital could intensify competition for high-quality logistics and infrastructure assets, potentially driving up valuations.
Despite this, PwC believes the overall environment is becoming more conducive to dealmaking. Greater consistency in tariff structures and trade regulations is improving investor confidence, particularly for companies with cross-border exposure. The reduction in policy uncertainty is also encouraging long-term planning around nearshoring strategies and regional supply chain integration.
With fewer geopolitical surprises anticipated, buyers are better positioned to assess future cash flows and long-term profitability, analysts said.
Niche Freight Segments Draw Strong Buyer Interest
Not all areas of the trucking market are expected to benefit equally. PwC highlighted several niche segments that are likely to remain especially attractive to buyers in 2026, including pharmaceutical logistics, temperature-controlled transportation, dedicated contract carriage, and reverse logistics.
These segments benefit from stable, recurring demand, higher barriers to entry, and strong customer stickiness. They also align with broader demographic and consumption trends, such as aging populations, rising healthcare needs, and the growth of e-commerce returns.
The trend was already visible in 2025, when buyers gravitated toward subsectors offering defensible growth and operational efficiency rather than exposure to volatile spot freight markets.
Recent Deals Signal Market Direction
Recent transactions underscore this strategic focus. In November, UPS announced a $1.6 billion acquisition of Andlauer Healthcare Group, a Canada-based specialist in cold-chain healthcare logistics. The deal strengthens UPS’s footprint in mission-critical medical supply chains and reinforces the growing importance of healthcare logistics within the transportation ecosystem.
Temperature-controlled freight also saw notable activity, including Hub Group’s $51.8 million purchase of the intermodal division of Marten Transport. The transaction reflects continued consolidation in refrigerated and intermodal transport, where scale and network density are increasingly vital for profitability.
Deals That Didn’t Materialize
Not all high-profile discussions resulted in completed transactions. Talks between US Foods and Performance Food Group regarding a potential combination were ultimately discontinued in late 2025. Had the deal gone through, the merged company would have emerged as the largest foodservice distributor in North America, surpassing industry leader Sysco.
The collapse of the proposed tie-up highlights ongoing regulatory scrutiny and execution risks that still surround large-scale mergers, even as market conditions improve.
Outlook for 2026
Looking ahead, PwC expects deal activity in the dedicated carrier segment to remain steady, building on momentum generated by landmark acquisitions in prior years, such as Schneider’s $390 million purchase of Cowan Systems. While mega-deals may remain selective, smaller and mid-sized acquisitions are likely to become more frequent as confidence returns.
Overall, analysts believe 2026 could mark a turning point for trucking M&A, as falling interest rates, clearer trade policies, and resilient niche demand combine to create a more favorable environment for consolidation across the transportation sector.