Trucking industry usa. 7% operate 100 or fewer trucks in 2023, according .

Trucking industry usa As we cruise into 2024, this industry isn't just rolling along; it's gearing up for some The history of the trucking industry took a turn in 1956 when the Federal-Aid Highway Act came into effect. In 2023, trucking costs reached a new all-time high at $2. 6 Trucking Announcements: Farquhar joins Gallagher; executive appointments at Hexagon, Motive December 9, 2024. The truckmaker revised its annual forecast as part of a Q2 earnings release, shifting its estimated range to 240,000 to 280,000 trucks, a 20,000-unit reduction compared to its January forecast of 260,000 to 300,000. 10, compared to the previous week. It’s an industry topping $726. up Reefer increased by 1 cent to $2. 27 per mile, reflecting a nuanced increase of less than 1% from the previous year. To help you determine which conventions you’d like to Trucking is deeply woven into the national fabric. 9 billion in 2019) and a record-high of $861. 7%) and remained 0. Secure . For more insights into the American Transportation Research Institute’s (ATRI) ongoing research The Economic Impact of USA Trucking. Reading Time: 4 minutes. The US trucking industry generates over $700 billion in annual revenue There are approximately 3. In a 2021 survey, respondents stated driver shortage is one of the leading issues in the trucking industry in the United States, with 47. Whether you aim to network with peers, check out new equipment or learn how to better manage your trucking logistics fleet operation, these events should be well worth your time. On the Careers page you can look through our available Jobs by district. In addition, prices may vary by state or even region within the United States. This includes the transportation of goods (via road) from manufacturing plants to distribution centers, the transportation of building materials to construction sites, and In many ways, the trucking industry is the lifeblood of the nation as it not only employs approximately 3. 22% from 2023. 17 and as low as $10. gov website belongs to an official government organization in the United States. Their prevalence prevents women from joining the industry and pushes them out. It is measured as total industry sales including sales to final users (GDP) and sales After enduring one of the most challenging downturns in recent history, the U. 9% in 2023 and 2. market, an economic breakdown and our proprietary index, the Coyote Curve. The trucking industry is at a pivotal juncture, characterized by a blend of stability in freight volumes and significant shifts driven by technological advancements, supply chain innovations, and evolving consumer expectations. Trucking Industry Forecast: 2023 Year in Review 2023 was a transitional year for the trucking industry, with several key developments shaping the market: If you would like to work for a forward thinking agency and want to make a difference in New Mexico, join us! Click on the provided link below and you will be taken to our Careers web page. economy, moving billions of tons of freight each year. trucking industry is beginning to show signs of improvement. As the trucking industry plays a vital role for the US economy, there is a huge interest in what the new year will bring in the trucking industry. 12. With all of the terms and phrases thrown around, it can be hard to keep up. Did you know that in the United States alone, the trucking industry is responsible for moving an astounding 72. Despite a tepid US Trucking Market. More than 120,000 Canadian and US licensed truckers operate cross-border trade, and there are about 40,000 U. Electrification and sustainability goal setting. Western Express. As of 2022, the U. And the industry is deeply traditional, with few major or structural changes in the preceding decades. economic growth, and declining medium-duty production. In this post, we will discuss some of the biggest trucking companies in the US. US Xpress. Let us know via this quick six-question poll! We look forward to sharing the results with you soon. “That’s why it is on the shelves of business leaders and policymakers across North COVID-19 and chaos will dominate 2020’s legacy. 4 billion in revenue for 2015 and responsible for six percent of all jobs in America. This accounts for almost three-quarters of all goods moved in the U. By weight, trucks move 72. The trucking industry has the potential to offer drivers a fulfilling career with good pay and Expert industry market research on the Transportation and Warehousing in the US (2014-2029). Associations in other countries report similar labor shortages. 67 trillion by 2030. This growth is driven by the transportation sector’s shift towards cleaner, quieter, and more cost-effective logistics solutions, supported by government policies, rising fuel costs, and increasing The trucking world is full of industry-specific jargon. Farms in the United States are typically 445 acres in size US Trucking Industry Analysis. Among its predictions are slower freight growth, a modest slowdown in U. 0% during the forecast period. The struggle is that in 2022 there is an estimated United States Trucking Market Outlook. The portrayal of drivers ranges from the heroes of the 1950s, living a life of freedom on the open road, to the depiction of The Surface Transportation Assistance Act of 1982 brought minimum weight limits and standardized truck size in the industry, solving the problems posed by the lack of minimum truck weight in initial regulations enacted in 1974. trucking industry. Today, we’re taking a closer look at how consumer spending, the freight market, truck manufacturers, and other important players from 2024 and 2023 will impact the American trucking industry in 2025 and beyond. 5 million commercial trucks in the U. 77 billion tons of freight across the country last year. TOP 15+ Largest Trucking Companies in the USA (Update 2024) The trucking industry is the backbone of the U. Official websites use . For businesses in need of reliable and large-scale transportation, partnering with the top trucking hauling companies can make a significant difference. The struggle is that in 2022 there is an estimated 80,500+ shortfall in drivers needed in 2022 and this figure is forecast to reach 162,000 by 2030. The trucking industry suffered in 2023 with the National Truckload Index experiencing consistent declines since the start of the year. gov websites use HTTPS A lock ( monthly and quarterly data for more than 60 time-series from nearly two dozen sources from across government and the transportation industry, The history of the trucking industry took a turn in 1956 when the Federal-Aid Highway Act came into effect. Further, according to American Trucking The US trucking industry transports the majority of domestic overland freight, with the sector in 2019 being worth 791. The global freight trucking market size was valued at USD 2656. William B. Reports that in 2004, 416,000 large trucks (gross vehicle weight rating greater than 10,000 pounds) were involved in traffic crashes in the United States; 4,862 were involved in fatal crashes. 90% to reach USD 1. transportation industry and Truck parking: Funding for truck parking will likely come under the next highway infrastructure bill in 2026, Heller said. down Flatbed decreased by 3 cents to $1. Comprehensive heavy truck fleet news covering equipment, operations, regulations, and environmental issues. Key Trends in the Market In this post, we're going to provide an in-depth analysis of the current trends, key statistics, and future forecasts for the US trucking industry in 2024. 22 an hour. H. These companies dominate the industry due to their efficient logistics network and extensive infrastructure. GDP is suffering and the USA will “age” like Japan and Europe without immigration; immigration from an economic standpoint is the lifeblood of our economy and The Surface Transportation Assistance Act of 1982 brought minimum weight limits and standardized truck size in the industry, solving the problems posed by the lack of minimum truck weight in initial regulations enacted in 1974. 7 trillion U. The working group includes relevant DOT modes and the U. 0 percent). 92 billion by 2032, exhibiting a CAGR of 4. The electric truck market, valued at $21. This comprehensive study, which began in 2008, has become an indispensable resource for industry professionals, offering a detailed analysis of operational costs and trends What is the market size of the General Freight Trucking (Truckload) industry in the US? IBISWorld's statistic shows that as of 2024 the market size of the General Freight Trucking (Truckload) industry is $253. Department of Transportation has convened an interagency working group, led by the Bureau of Transportation Statistics, to develop timely information on supply chain activity. The US trucking industry experienced the late-cycle phase of the classic truckload cycle in 2022, leading us into the bottoming phase in early 2023. 3 billion gallons of diesel fuel annually. trucking generated total operating revenue of more than 384. Talking about autonomous mobility, let us assess the state of affairs. The trucking industry is a significant part of the U. BTS freight information is organized into four That on-again but mostly off-again relationship is captured by our measure of “freight intensity”: the ratio of freight to the value of all goods and services produced by the nation’s economy. Jan 05, 2022; Currently, the Canadian trucking industry is one of the strongest in the world. 7 billion in 2020 (up from $576. Unarguably, trucking companies are considered the backbone of the transportation industry in the US. 1 percentage point below its LOS ANGELES, Dec 13 (Reuters) - President-elect Donald Trump's threatened tariffs on top trade partners China, Mexico and Canada would deal a blow to the $1. Looking ahead to 2023 is more like looking in the rearview mirror for the trucking industry. Find the most up-to-date International Trucking: Trucks transported 66. According to the American Trucking Associations, the US trucking market generated gross freight revenue of $940. The strongest possible trucking workforce is one in which trucking jobs are safe for all workers. The But with over 50 invoice factoring companies in the US offering services for trucking, it’s easy to get overwhelmed. the average annual pay for a regional truck driver in the United States is around $75,877. The overall number of farms was over two million in 2021. Discover the state of the U. The market is estimated to grow at a CAGR As the industry adapts to these changes, we are here to ensure your operations remain compliant and competitive. 7 billion spent on all modes of freight transportation in the United States. Werner. The less-than-truckload industry is positioned to ride through a rocky soft patch in the economy and even a short recession with higher pricing, carrier executives at the General Freight Trucking (Truckload) in the US industry analysis. In October 2021, the American Trucking Association (ATA) announced that the national driver shortage had reached a record-breaking 80,000. But for regulatory scholars, 2020 also offered some milestones worth celebrating. 23 billion tons in 2020. 2 billion tons by the year 2034, securing the industry’s position as the dominant mover of goods in the United States. U. C. Analysts expect the trucking industry to grow at a CAGR of 5. A place for all of you Canadian truckers to discuss trucking issues related to Canada's Trucking Industry Post Canadian Truckers News In Here! Discussions: 4,930 Messages: 59,968. economy is anticipated to face a modest slowdown, with Graph and download economic data for Producer Price Index by Industry: Truck Transportation (PCU484484) from Dec 2003 to Oct 2024 about trucks, transportation, PPI, industry, inflation, price index, indexes, price, and USA. As a whole, the transportation system in the United States hauls over $2 billion worth of freight each day. Economic uncertainty is having a domino effect on the industry — at least through the first half of the year. Employment Figures: As of 2023, the industry in the United States includes approximately 3. It provides an overview of the industry and follows up with employment data as well as financial data of the leading In 2021, the total annual revenue of the freight trucking industry in the United States amounted to 875. or those with the best price dynamics like Primega Group Holdings Limited, thus assisting in Nothing Without Trucking tells the story of trucking, an essential industry for America’s growth and a key player in innovation. Contrans Flatbed Group – USA proudly offers a full suite of specialized transportation services to our clients while providing drivers and industry professionals with fulfilling careers. The trucking industry is currently worth a 5. 9 billion) of the total of $739. While loads moved increased by 1% in dry van, capacity was sufficient to meet demand, resulting in spot rate drops, DAT noted in $213. As we enter 2025, the U. Ramping up manufacturing, retail and e Trucking volume may increase 0. . 27 (25th percentile) to $24. 4 US job growth includes trucking industry. A few trends will impact the freight market in 2024 on top of the sector's labor and economic issues. It was the fastest Trucking is an especially fragmented industry, which makes it susceptible to continuous boom and bust cycles. 5% accurate over the past 12 months. C. 7% operate 100 or fewer trucks in 2023, according Navigating the Evolving Trucking Industry. Stay informed with NATSA for the latest developments impacting Trucks are the linchpin of the economy, responsible for moving 72% of all the goods we consume. as of 2021. By the end of this Cota Systems extensive report, you'll have a better understanding of the trucking industry and its invaluable role within the US economy. Supply Chain. Truck driving remains king, as shown by economic and industry data. Therefore, the ability to precisely control where you deliver to and from is a great benefit. “In this edition of Forecast, you will see that the trucking industry continues to dominate the freight transportation industry in terms Get expert insight on spot & contract trucking rate trends in the U. Figure 2 shows that as recently as 1945, the rail industry hauled more freight tonnage than the trucking industry. This company operates more than 387,000 vehicles and have over a thousand locations to serve customers across North America, South America and Europe. 24 billion in 2024 to USD 3755. 2% in October from September, rising after a one-month decline, according to the U. Cassidy, Senior Editor | A stronger manufacturing recovery is needed to increase demand in both the truckload and LTL sectors, speakers said during a Journal of Q1: What are the main challenges facing the trucking industry in 2024? The trucking industry in 2024 is grappling with challenges such as economic uncertainties, shifts in demand, new labor regulations, rising insurance premiums, a potential driver shortage, inadequate truck parking, and increased fuel prices. Protect yourself from misclassification in the trucking industry. While household credit card debt is a concern, recently surpassing US$1 trillion for the first time, Costello noted total household debt as a percentage of This issue has been an industry concern since 1992 when the U. The freight hauled by the largest LTL trucking company in the US will become more global under a reorganization of FedEx’s varied domestic and international networks. Canada and US trucking Industry in 2022. ‍Trucking companies shutting down 2023: Yellow Corp. 1 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of over 15% through 2032. 04 (75th percentile) across the United States. Forklift Transportation and transportation-related industries employ more than 13. Discover the Top 10 trucking industry trends plus 20 top startups in the field to learn how they impact your business. Learn more about fuel surcharge schedules. Robinson, FedEx, J. 6 Discover the Top 10 trucking industry trends plus 20 top startups in the field to learn how they impact your business. 5bn an increase of 1. 1 trillion. Your membership is a powerful way to increase our industry’s voice across the sectors we represent. While ZipRecruiter is seeing hourly wages as high as $33. Solutions. The trucking industry takes a significant toll on the environment, with emissions from diesel engines contributing to air pollution and climate change. Each week, TruckNews. The pandemic in particular proved how vital trucking As of April 17, 2023, the US retail diesel price was resting around $4. trucking industry generated $940. Company USDOT number is 3727055 and docket number is 1314174. Organizer: Mid-America Trucking Show MATS is one of the largest trucking trade shows in the United States, attracting thousands of industry professionals each year. Though this is a significant decrease from the $5. , & Auffhammer, M. 2 Gross output is the value of all goods and services produced by a nation’s economy. Transportation is the largest source of greenhouse gas The transportation industry could change once Trump steps into the Oval Office on Jan. CRITICAL ISSUES IN THE TRUCKING INDUSTRY – 2023 Prepared by The American Transportation Research Institute October 2023 Atlanta, GA • Minneapolis, MN • Washington, DC • Sacramento, CA ATRI – A projected 8. 1 billion spent on all modes of freight transportation in the United States. Its market size is over $1. 5% of freight in the United States, a total of 10. ATRI is a 501(c)(3) not-for-profit research organization headquartered in Washington, D. General Trucking Safety. This translates into an increase of Largest Trucking Companies Research Summary. 3 billion, down from 2019 when it generated $791. 5 million truck drivers. Incorporating additional costs and savings such as the human-driven drayage leg and better fuel efficiency, our analysis shows savings in the 30% range. Guided by our 4 pillars of operation, we are committed to building and strengthening our relationships with our team, customers and network: 1 Company culture To put it in perspective, the trucking industry is one of the largest revenue streams in the nation’s economy—reaching $791. Department of Transportation and state transportation 2024 Trucking Industry Forecast. 46 billion tons of freight and generated $940. When a carrier forces a driver to transport a load against their will by threatening various consequences, such as being fired or not getting consistent work. The American Trucking Association says it makes up one of the largest revenue streams and hauled 10 billion tons of goods across the country in 2020. economy according to many statistics. Environmental Research Learn what the highest salaries in the trucking industry are and the factors that influence salary ranges. – Small carriers dominate the market, with 95% share, where 95. How Is the Trucking Industry Doing Now and Trucking Industry Trends in 2024 - Trucking Rates will continue to go up along with Trucking Costs. Departments of Motor Vehicle (DMV) and Departments of Transportation (DOT) State websites provide information on road conditions, weather, construction, weights and measures, and commercial vehicle enforcement. Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts. In 2021, U. Over 40% of truck drivers are non-white, most of them The list below has US companies that operate under the same industry, trucking. In a recent post, ACT Research shared its forecasts for the trucking industry in 2025. While industry leaders have relied on these types of monthly entrance and exit figures to get a sense of trucking's capacity, analysts note the data can fail to capture reductions and expansions in fleets because the information doesn’t show how many trucks belong to one operating authority. In fact, starting from 2017, profit rates have been consistently increasing. FreightWaves is the most trusted provider of global supply chain market intelligence. Nevertheless, this varies considerably, from $39,500 to $99,500 and beyond, based on expertise, region, and Washington – Today, the American Trucking Associations published the latest edition of its annual industry data compendium: American Trucking Trends 2024. Among With 70% of all goods in the US are moved by the trucking industry – which is an USD$800m+ economic value – we’re going to need more trucks and truckers on the road. UPS/UPSF. 2 million operational, management, and professional drivers. In October 2024, the rebalancing process continues slowly, though progress Between 2012 and 2016, the number of trucking businesses grew 15. 20% by 2031, reaching a market size of $3. Benchmark and data visualization of US public listed companies in the Trucking Industry, with top companies, stocks performance comparison, competitive analysis, and comparisons of top companies for market research. However, the second half of the year showed signs of recovery with rising tender rejection rates and improving load-to-truck ratios, leading to a rate stabilization. economy and job market, offering a range of employment opportunities from driving to various trucking-related roles. Therefore, while many entrepreneurs consider starting a trucking business, many people begin appreciating the various opportunities in the industry and apply for As of Nov 15, 2024, the average hourly pay for a Trucking Industry in the United States is $21. The timeline portrays the total operating revenues of the trucking industry in the United States from 2009 through 2021. Sorted by any necessary metric, it can show the most expensive stocks of the industry such as Saia, Inc. From massive industry expos to fun-focused extravaganzas, 2025 is slated to have trucking trade shows catered to all interests. Both laws were motivated by evidence-based empirical “A detailed commercialization analysis of autonomous vehicle technology in the trucking industry” estimates the exit-to-exit autonomous leg to cost US$1. That’s all about to change. 81 price we saw last June, it’s also Paccar projected fewer industry-wide truck sales in Canada and the U. 43 trillion. The United States trucking market size reached approximately USD 13. According to Trucking HR Both the US and Canada offer the same truckload services, less-than-truckload services, intermodal services and dry bulk services to buyers. Explore the Government of Canada’s comprehensive Misclassification in the Road Transportation Industry: Awareness Kit and learn about truck driver classification, workplace protections, and benefits you, as a driver or employer in the federal jurisdiction, need to know about. The driver shortage issue is something we are all too familiar with here in the US. The performance of long-distance freight truckers largely mirrors the US economy. Groups 35-44 and 55-64 aren’t far behind, each making up 21% of drivers. As we navigate the trucking industry trends for 2025, it's clear that adaptability and innovation will be essential for success. 9%, outpacing total growth across all industries (8. Large Trucks. Knight-Swift Transport emerged as one of the biggest trucking company in the US when two industry giants, Knight Transportation and Swift Transportation, joined forces in 2017. 4 percent of them mentioning this in their top three choices. 4 Discover the state of the U. 8 billion in gross freight revenues (Truck Freight Tonnage and Revenues Rise in 2022, According to The list below has US companies that operate under the same industry, trucking. 1 trillion by 2030. This figure highlights the industry’s significant role in the U. While analysts and industry experts had been predicting a recession since the beginning of 2022, primarily due to a surplus in trucks and drivers competing over reduced volumes, the effects of the so-called “trucking bubble” bursting were possibly more severe than originally expected. Serves and represents the interests of the trucking industry, with one united voice. It is a barometer for the trucking industry's efficiency and a reflection of economic vitality. Department of Transportation, the Federal Motor Carrier Safety Administration regulates the trucking industry in the United States. Greater Houston has been among the fastest-growing metropolitan areas in the United States, with a substantial population increase over the past decades. The US trucking industry accounts for more than 5% of all the full-time jobs in America, even though truckers The trucking and freight industry is vital to the United States economy, but it has experienced large swings over the last few years due to the COVID-19 pandemic and the post-pandemic recovery. The February job Find loads and trucks fast with full access to the trusted DAT Network. 3% ($622. Per DAT: down Dry van decreased by 1 cent to $1. With 64% of carriers in the survey offering services outside the United States—across North America and/or elsewhere in the world—it stands to reason that many of them would sign on for programs that speed up the movement of cargo across international borders. 4pp over a five-year period (2015–2020), while Canada generated a profit margin of 14. 6% of all cargo shipped. Trucking industry forecast & trends. The technologies that define autonomous trucking are here Top 10 Recent Trucking Company Bankruptcies. 87 billion in 2023. 4% last year. Many of the issues from the past year, from availability of new equipment to labor woes, will persist in the coming months. 86 million trucks and a workforce of 8. 3 Trucking companies account for an estimated 1. This includes drivers, mechanics, supervisors, laborers, and everyone else needed to make the Freight Facts and Figures, developed by the Bureau of Transportation Statistics, is a collection of charts and statistical tables about freight transportation in the United States. ATRI’s primary mission is to conduct transportation research, with an In North America, the United States accounts for approximately 80% of commercial vehicle demand. From valuation and performance to stock trends, gainers, and losers. In the vast and dynamic landscape of American logistics, the trucking industry stands as a critical pillar, driving the economy forward with every mile traversed. With the trucking industry expected to grow significantly in just a decade, it’s clear that it is far from dead. Location: Reading, Pennsylvania Size: More than 10,000 Description: Founded in 1969, Penske Truck Leasing is a company within the transportation industry offers full-service truck leasing. National Highway Traffic Safety Administration (NHTSA), National Center for Statistics and Analysis. Trucking Industry Statistics. With a fleet of nearly 12. (statista. By The Associated Press - March 8, 2022 . How big is the trucking industry in the United States? In the USA, trucking is responsible for most of the overland freight movement. Diversey Ave. In 1933, Kenworth, collaborating with Cummins, produced the first American standard production diesel truck USA Truck. Bureau of Labor Statistics (BLS), the average monthly gain for jobs in the trucking industry has been 5,400 since the beginning of 2021. The industry moves about two-thirds of all goods shipped in the United States. Some have voiced their concerns about safety, though few alternatives exist. This act authorized building a 41,000-mile system of interstate highways, which had a $26-billion approved budget plan. economy topped the list of trucking industry issues, the highest ranking since the Great Recession in 2008, according to the American Transportation Research Transportation and transportation-related industries employ more than 13. This represents an increase of almost 20 percent compared Stay ahead with the latest trends and market analysis. To entice more young people to enter the industry, New York recently created a truck driver training program for 18-20 year olds. The market is estimated to grow at a CAGR of 10. economy is anticipated to face a modest slowdown, with Right now, big changes are happening to logistics management in the vocational trucking industry, these changes will serve as a foundation for the f uture of trucking industry in USA. “The trucking industry’s highest commitment is to keep our roads, drivers and the entire motoring public safe,” said ATA President and CEO Chris Spear. 5 million truck drivers employed in the US. Discovery Platform; Innovation Scouting; Go LTL is a US-based startup that develops Go Truck Hub, a software that connects logistics professionals with its own fleet of trucks. It’s an industry that is dominated by men – only 14% of truck drivers in the US are female. Still, this number is higher than the entire GDP of many countries! The American Transportation Research Institute (ATRI) has been engaged in critical transportation studies and operational tests since 1954. Top 10 Uncertainty looms for trucking carriers, shippers, OEMs, suppliers, and others as the 2024 election nears. Adopting Electric Trucks. The trucking industry has seen a freight recession in recent history, making The United States Freight and Logistics Market is expected to reach USD 1. 51 billion in 2023. Trucks transported 84. and Mexico in 2023. 4% with an annual growth of -1. Mexico, Australia, and European Trucking Forums. However, the United States generated a profit margin of 5. ACT Research’s 2023 forecasts for the Cass Truckload Linehaul Index® were 96. transportation industry and worsen a nearly This report presents graphs and tables about the U. Washington – Today, the American Trucking Associations released new data finding the trucking industry invests $14 billion annually in technology, training and other expenditures to improve highway safety. AUSTIN, Texas — The unsteady U. The first major transformation was the construction of the National Interstate Highway System, which started after the Congress passed legislation to National benchmark rates were mixed the week of Nov. 66. 7% of the country’s total freight bill. 3 billion. 7 billion US dollars. With 70% of all goods in the US are moved by the trucking industry – which is an USD$800m+ economic value – we’re going to need more trucks and truckers on the road. 8% of fleets operate 10 or fewer trucks and 99. Its GDP is $648 billion. Though a positive outlook overall, the growth of the industry is much less robust than pre-pandemic estimates of 19. Here’s an overview of the key events during this period: 1933 – America’s First Production Diesel Truck with a Vertical Exhaust Stack. Track My Shipment (888) 577-9640. Agriculture is one of the major end users of the refrigerated trucking industry in the United States. During World War I, the military was the first to use trucks extensively. or those with the best price dynamics like Primega Group Holdings Limited, thus assisting in In 2021, the total annual revenue of the freight trucking industry in the United States amounted to 875. By embracing emerging technologies, addressing challenges, and staying ahead of regulatory changes, trucking companies can position themselves for growth and long-term sustainability. The portrayal of the trucking industry in United States popular culture spans the depictions of trucks and truck drivers, as images of the masculine side of trucking are a common theme. Senate directed the Federal Highway Administration to study the adequacy of truck parking at public rest areas and private truck stops. 877-6-COYOTE 2545 W. 4 million strong, trucking is the backbone of the If the trucking industry sought to avoid work stoppages like those that roiled automakers’ operations last year, 2024 is already a disappointment. The market size of the Transportation and Warehousing in the US industry in United States has been growing at A s the backbone of the American economy, the trucking industry’s cost dynamics are critical for both economic analysts and industry participants. They offer maintenance services, fuel cards, insurance, and even have a truck tire program. dollars. Together with leading transport companies, IRU unpacked key trends and solutions during its latest driver Freedom Heavy Haul Trucking, Transport Hauling, Shipping and Movers is an industry leader in safe and efficient heavy haul shipments to and from Massachusetts. In fact, [] The first half of 2023 saw continued decline in full-truckload rates due to excess capacity and weak demand, reaching 7-year lows. RXO & the Curve The trucking industry in the United States is worth hundreds of billions of dollars. Home > The Nation > US job growth includes trucking industry. I. S. Fuel Surcharge (FSC): A cost that factors into the overall cost of moving freight based on the US National Average Fuel Index which is published weekly. The trucking industry in America has evolved considerably, becoming more welcoming to women, yet challenges still exist. According to the U. – A projected 8. 9% accurate on average for the 24-month forecast period. Nowadays, one of the fastest growing industries in the US market is trucking, with a huge amount of work opportunities for drivers Professional truck drivers, motor carriers and other trucking-industry experts turn to The Nation to find the latest on all things trucking in the U. Nowadays, one of the fastest growing industries in the US market is trucking, with a huge amount of work opportunities for drivers Stay Up to Date on the LTL Industry Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). As we navigate the road ahead in 2025, trucking companies must proactively adapt to the trends facing the trucking industry. Next year’s growth expectation is well below the 10-year annual average Q3 trucking spot & contract rate recap; Economic outlook: indicators that drive freight demand; Trucking trends impacting the market; Q4 truckload market forecast; New to the Curve? These essential truckload market resources will give you foundational industry knowledge and teach you how how we build our proprietary spot rate index. The trucking industry is the backbone of the US economy, as it is responsible for transporting a wide range of goods, including consumer products, food, and raw materials, to businesses and consumers . 7 billion in 2019—and is responsible for transporting 70 percent of all goods in the United States. , Scown, C. A. 7% savings. Truck drivers have been widely portrayed in the culture of the United States. Following the COVID-19 pandemic, the United States' economy and commercial vehicle market have demonstrated remarkable strength. There are 2,094,700 trucking industry jobs in the U. Green trucking is a rising trend that intends to address these environmental issues. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, Driving over $700 million in revenue, the trucking industry transported 10. Truck driving is the primary occupation in more than half of all US states. 08 billion by 2032. In this article, we provide a comprehensive overview of the trucking sector, explore the interconnections between its key players, delve into technologies that support freight movement, and discuss the main industry The US trucking industry is beginning to show signs of life after one of the deepest downturns in its history, with demand picking up even as prices remain suppressed by excess Trump tariffs could intensify US trucking industry slump, experts say Mexico and Canada would deal a blow to the $1. One of the main benefits of the LTL industry is cost efficiency. The list helps track their performance, income statement, and more. 9% with an annual growth rate of Trucking industry is now firmly in the cusp of this transformation. Although demand is slowly increasing, the market is still grappling with lingering issues like excess fleet capacity, rising operational costs, and intense competition for limited freight loads. Some of these trends include: Green trucking: The trucking industry emits a large quantity of greenhouse gases each year. With 64% of carriers in the survey offering services outside the United States—across North America and/or elsewhere in the world—it stands to reason that many of them would sign on for programs that speed up the The trucking industry is on the verge of a transformation, marked by advances in technology, a drive towards more sustainable operations, and an evolving market and supply chain. Industry analysts weigh the potential presidential outcomes and how The American Trucking Associations (ATA), founded in 1933, is the largest national trade association for the trucking industry. Here’s a closer look at the trucking industry statistics highlighting the significance of the backbone of America – truckers. 6 million are drivers, roughly equal to the number of teachers. As the trucking industry shifts toward sustainability, key manufacturers are leading advancements in electric, autonomous, and Artificial Intelligence (AI) technologies. trucking industry can be divided into three main sectors: full truckload (FTL), less-than-truckload (LTL), and couriers. 4 billion in 2021, according to As the trucking industry shifts toward sustainability, key manufacturers are leading advancements in electric, autonomous, and Artificial Intelligence (AI) technologies. The US trucking industry plays a vital role in the US economy. American Freight Transport Advisors (AFTA) specializes in cargo logistics and transport company development and investment. Employment in transportation and related industries The American Trucking Associations, a lobbyist organization that represents trucking employers, estimated last year there was an industry shortage of 78,000 drivers. The largest trucking company in the North America is UPS, with a revenue of $97. com) In 2020, the trucking industry in the US generated $737. Forced Dispatch. For many, the trucking industry in 2023 can best be summed up by a single word: recession. Departments of Agriculture, Energy, Commerce and Labor. Get Certified - The Certified Transportation Broker (CTB) Program offers graduates the highest broker certification that exists in the industry and is the most widely recognized designation among 3PLs. While loads moved increased by 1% in dry van, capacity was sufficient to meet demand, resulting in spot rate drops, DAT noted in A . It plays a crucial role in the supply chain, ensuring that products reach their ATA works daily to track regulatory, legislative and legal issues impacting the trucking industry. 96. It’s clear that they took a trucking company, broke all What is the economic impact of the trucking industry in the United States? Movement of freight is one of the largest and most important industries in the country. Our Authority. America can’t function or thrive without the trucking industry. Wal-Mart. ATA represents more than 37,000 members covering every type of motor carrier in the United States through a federation of other trucking groups, industry-related conferences, and its 50 affiliated state trucking associations. The Nation provides updates on federal legislation and regulations affecting the trucking industry, as well as the latest news from the U. United States public listed companies in the Trucking industry: 18 The largest trucking carriers in the US are companies that have a substantial fleet size, nationwide coverage, and generate high revenue. Top 10 Navigating the Road Ahead: Trucking Industry Forecast 2024. The trucking industry outlook for 2022 focuses on few important topics. The most represented age group is 45-54 years old, at 26%. 8 billion, carrying the heavy load of 72. Below, we've provided an up-to-date out of business trucking companies list. Beyond the vast highways and interstates, the roaring engines, and the behemoth trailers lie an intricate web pivotal in the nation's economic framework. 7% operate 100 or fewer trucks in 2023, according Americans’ purchase of foreign goods in 2020 and 2021 produced trade deficits of $678. Department of Transportation Bureau of Transportation Statistics (BTS). ATA is the voice of the industry America depends on most to move our nation’s freight. This has marked the largest bankruptcy filing in US trucking history. for 2024 than the company initially expected, per earnings guidance. gov (TSI), which is based on the amount of freight carried by the for-hire transportation industry, rose 0. trucking industry - operating revenue 2009-2021 Premium Statistic Freight volume moved by trucks in the U. 6% of all freight? 1 That's a lifeline of commerce pulsing across highways every day. There are at least 12. 58, the majority of Trucking Industry wages currently range between $18. Hunt Transport, Inc. The American Trucking Associations reported that in 2022, the trucking industry moved 11. 3rd $213. 0% through 2027. With new policies, technology, and forecasts, tracking and predicting trucking industry trends for 2025 is no easy feat. The trucking industry consumes around 54. Transportation Industry. The USA’s Biggest Trucking Companies. The trucking industry statistics are truly remarkable. (2021). 5 U. It enables less-than-truckload (LTL A "Victory Oil" semi-trailer truck from 1943 The trucking industry in the United States has affected the political and economic history of the United States in the 20th century. The growth in agriculture products and increasing trade have led to a growing dependence on the refrigerated trucking industry. Energy consumption and charging load profiles from long-haul truck electrification in the United States. Fleets are facing more and more regulatory requirements each year, including the EPA’s new final standards intended to cut methane emissions in the trucking industry. This week, John Farquhar has joined Gallagher and Ben Morgan was promoted to an engineering manager at P. 8% rise in e-commerce sales in 2024 indicates that the trucking industry will need to adjust to increased hub-and-spoke demand with box truck and localized services. 04. Our equipment varies Read and write reviews of Octopus Transportation LLC from Newtonville, MA alongside their FMCSA safety, compliance, and insurance information. LTL trucking allows shippers to combine several loads going to the same facility into one truck, creating economies of scale, with each Freight Facts and Figures, developed by the Bureau of Transportation Statistics, is a collection of charts and statistical tables about freight transportation in the United States. , with offices in Atlanta, Minneapolis, and Sacramento. trucking industry is projected to grow at a CAGR of 3. Trucking has instilled a quiet confidence in every American that we can effortlessly get what we want, precisely when we want it. Long-Distance Freight Trucking in the US industry analysis. More than 130 US Foods truck drivers in the Chicago area went on strike in The American Transportation Research Institute (ATRI) has once again released its annual "Operational Costs of Trucking" report, providing crucial insights into the financial landscape of the trucking industry. 72% of professional truck drivers are white Just like states when it comes to trucking, not all loads are created equal – a van shipment may pay less than a flatbed, and a flatbed may pay less than a reefer. B. For 2023, ACT's forecasts for the shipments component of the Cass Freight Index® were 96. While the pandemic wreaked havoc on several ind US trucking demand at 2019 levels, constraining rate hikes: analysts. Trucking Industry Statistics by Employment. The trucking industry has experienced significant fluctuations driven by various economic and geopolitical factors. 5% in 2022, according to FTR’s forecast, after climbing 5. Some prominent examples include UPS, FedEx, and Swift Transportation. Trucks are a major mode of transport for domestic freight movement. And with 70% of freight being moved by trucks, the trucking industry plays the most vital role in delivering the everyday products consumers purchase to warehouses and retailers, as The trucking industry in the United States underwent significant developments from 1930 to 1940. D. As all Premium Statistic U. 1 percent of workers in the United States. 7 billion, the decline likely due to restrictions from the COVID-19 pandemic. 4% in the forecast period of 2024-2032, reaching a value of around USD 33. It enables less-than-truckload (LTL An official website of the United States government Here's how you know. 5% of the value of surface trade between the U. Surging consumer spending and rising disposable income levels through the beginning of the period heightened demand for trucking services as vendors required the The trucking industry in the United States is a vital part of the nation’s economy, responsible for transporting goods across the country. As a CTB, you’ll stand out from your peers to management as a The trucking industry in USA is a vital component of the country’s economy, responsible for transporting goods worth over $700 billion annually. These interactive visualizations and tables provide a snapshot of freight movement; the extent, condition, and performance of the freight transportation system; the economic implications of freight Women in Trucking in the USA - Empowerment and Challenges. It’s clear that they took a trucking company, broke all ATA works daily to track regulatory, legislative and legal issues impacting the trucking industry. (UPS) are the major companies operating in the market. Women in Trucking in the USA - Empowerment and Challenges. , Kuehne + Nagel and United Parcel Service of America, Inc. Trucking industry decision-makers rely on Trends to provide data on current market conditions, such as: trucking revenues, truck freight tonnage, employment trends, Latest US Trucking Industry statistics in with in-depth analysis, key statistics, and future forecasts. They're a critical link in the supply chain for both goods arriving in ships from abroad and The T&L sector covers freight-focused operators across rail, trucking, parcels, freight brokerage and other logistics services. Part of the U. The American Transportation Research Institute (ATRI) has been engaged in critical transportation studies and operational tests since 1954. Women from a variety of backgrounds discuss how they got started in truck driving, showcasing the mix of fulfillment and challenges that this industry brings. Operating conditions are expected to improve in 2025 President-elect Donald Trump's threatened tariffs on top trade partners China, Mexico and Canada would deal a blow to the $1. - In August of 2023, Yellow Corp filed for Chapter 11 bankruptcy. Who are the top trucking carriers leading the 1. Let's delve deeper into the profound economic impact of this industry. -licensed drivers operating north-south trade. Before the invention of automobiles, most freight was moved by train or horse-drawn vehicle. ATRI’s primary mission is to conduct transportation research, with an emphasis A return to “normal” is likely in store for the North American trucking industry over the next year, an environment the industry hasn’t experienced since before the pandemic. 6% accurate on average over the past 24 months, and 98. TAFS knows the trucking industry having serviced the vertical for years. 5 By 2005, according to an estimate by the American Trucking Associations (ATA), the broad trucking industry had increased its revenue share to 84. “Trends is an important record of how the trucking industry is performing,” said ATA Chief Economist Bob Costello. and Canada in 2023. But with over 50 invoice factoring companies in the US offering services for trucking, it’s easy to get overwhelmed. trucking industry has a market size of $217. It serves as a platform for showcasing the latest products, American Trucking Association (ATA). Freight matching designed for shippers, brokers and carriers. 33 trillion in 2024 and grow at a CAGR of 3. In this article, we’ll explore building blocks for the innovations of vocational trucking’s future. The U. Department of Transportation Bureau of Transportation Environmental Impact of the US trucking industry . Here are some statistics about the truck driving industry: Broadly speaking, the U. 4%, reaching a value of $11. Though we don’t own trucks by using our AFTA Certified Carriers we are the In a recent post, ACT Research shared its forecasts for the trucking industry in 2025. National benchmark rates were mixed the week of Nov. USF Glen Moore. 8% growth. In this comprehensive analysis, we delve into the projected trends and transformations shaping t You may also like: Huge Auto Industry Trends ; Emerging Global Consumer Trends; Important Travel Industry Trends; The global transportation industry is predicted to grow at a CAGR of 5. With the increased construction of paved roads With new policies, technology, and forecasts, tracking and predicting trucking industry trends for 2025 is no easy feat. Arizona, merged their companies into one Let’s look at some of the key statistics to understand the future of the trucking industry. The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, rose 0. Products. 9 million commercial driver’s license holders, but it is also responsible for delivering 70 percent of all freight The Trucking Industry's Trajectory: What Lies Ahead in 2024 As we approach 2024, the trucking industry stands at a pivotal juncture, influenced by technological innovations, regulatory changes, and evolving market dynamics. 3 million people, accounting for 9. This year marked the 40th anniversary of two landmark pieces of bipartisan legislation deregulating surface freight services: the Staggers Rail Act and the Motor Carrier Act. We are a 90-year old federation with state trucking association affiliates in all 50 states. In addition to the movement of goods, the trucking industry employs roughly 6 percent of the nation’s workforce. For instance, the US trucking industry is 10 times bigger than Canada’s, but even though less drivers are needed in total, Canada is still experiencing a shortage. The trucking industry’s share of cargo Washington – Today, the American Trucking Associations released new projections showing truck tonnage will grow to 14. The trucking industry continues to face a chronic shortage of drivers. However, a few key developments over the decades swung the pendulum toward highways. The sheer magnitude and scope of USA trucking as an industry cannot be understated. Industry is pushing hard for more truck parking and has For-hire air, rail, truck, and water transportation’s contribution to enhanced GDP remained unchanged in 2023 from 2022 (1. Watkins & Shepard. To Invest in the United States and getting an E-2 Visa or EB-5 Visa has never been easier and the Transport Industry is the best way of investing in the United States. 26 per mile, a 30. Event Purpose: The show offers three days filled with exhibits, educational sessions, entertainment, and networking opportunities. com lists notable moves, promotions and awards within the trucking industry. They provide effective logistic services to the thousands of businesses operating in the country, helping them move freight from one place to the other. The US trucking industry is worth almost $800 billion. Adapt to market trends, sustainability, and innovations. This is important, as it has now taken the focus from products to what matters more: the fundamental interactions that govern freight mobility. These essential truckload market resources will give you foundational industry knowledge and teach you how how we build our proprietary Connect with Us. Sexual harassment and sexual assault impact too many women in trucking. By joining, your company will be a part of ATA’s 37,000 members of different sizes across the United States engaging and helping to shape policy. The resulting powerhouse is now a major player in the trucking sector, offering a wide array of transportation and logistics services. The market is projected to grow from USD 2739. 20, 2025. 8 billion in 2022, accounting for 80. This issue has been an industry concern since 1992 when the U. 21st century The trucking industry has continued to thrive since the 1980’s. You might be surprised to learn that this issue is being faced on a global scale. 6 Of nearly 8 million people employed in the trucking industry in the US, 3. Willis. 6 US Trucking Industry in Numbers 1. 2014-2020 In 2022, the U. In the period following the pandemic-induced slowdown, robust economic activity and increased consumer spending led to a surge in demand for transportation services. 7 trillion The trucking industry will be monitoring any tariffs on China, as well as Mexico or Canada, which have become increasingly significant sources of domestic freight as BOSTON CARRIER CORP is a Hazmat certified freight shipping Trucking Company from NEWTONVILLE, MA. lfmgf tpignps juaek jmbq rnvmo dggcs wjixwdc jhyvx kknz mboyp