Get Access to over 200 brokers and shippers. Figuring out how to find truck loads can be difficult at first. From 1990 to 2018, the truck mode experienced the largest increase, rising by 152.5 percent, followed by oil pipeline at 142.2 percent, and domestic air carrier by 130.3 percent. According to the American Trucking Association, the industry has been struggling with this problem on and off since 2015. Size of the truckload market has grown 1.6% year over year from $193.21b in 2020 to $196.34b in 2021. underway was nearly $143.3 billion, accounting for 90.0 percent of total spending on transportation construction. For-hire transportation Self-driving automotives have started to make their way into the U.S trucking industry. services are almost entirely private, while private-sector trucks operate over WebRevenue from European transportation is projected to reach 517 billion by 2026, up from 491 billion in 2021, growing at an average rate of 0.6% year on year. Some of his most popular published works include his writing about economic terms and research into job classifications. NACFE report affirms hydrogen's major role in long-haul trucking's future. Truck Driver Demographics in the United States. Accessed on March 30, 2022. Have questions? There are about 3.5 million employed truck drivers in the U.S. as of 2021. The cargo manufacturer or loader could also be responsible should there be any issues when transporting fleet. transportation. https://www.alliedmarketresearch.com/request-sample/4225, https://www.alliedmarketresearch.com/transportation-infrastructure-market/amp, Speeding up the Last Mile: Innovations and Trends in Express Delivery Services, Securing the Homeland: The Current State and Future of Homeland Security, Electrifying the Drive: The Evolution of Electric Vehicle Transmissions and Future Trends. Unlike other industries, the U.S. transportation industry has a large number of older workers. (, In 2018, 74% of large truck crashes involved tractor trailers. The trade kerfuffle between China and the United States and (Source: 26% of trucking costs are spent on fuel alone with another 14% used for truck/trailer payments. EIA. transportation and warehousing sector revenue, while warehousing accounted for Between 2000 and 2020, employment Government transportation revenues consist of money collected by governments from transportation user charges and taxes to finance transportation flatbeds, tankers, or refrigerated trailers.) Rail carloads was the only mode to The Suez Canal obstruction exacerbated this phenomenon in March 2021. There were approximately 3.15 million truck drivers in 2020; about 57.1 percent of these Among the findings in this years edition of Trends: Trucking is a critical part of the economy and the supply chain, said ATA Chief Economist Bob Costello. Transportation is crucial in any country, but especially in one as large as the United States. During the corresponding period in the last financial year, it had earned revenues of Rs 3,539.77 crore. After the recession in 2020 that was caused by the COVID-19 pandemic, the industry has been recovering and growing. (, 6.7% of the truck drivers in the U.S are women. WebSECTION 1. These drivers/business owners tend to be older men and military veterans. As the American Trucking Association puts it, every good in the U.S has been on a truck at some point in its journey. What is the future of the trucking industry? In 2021, the total market size of the less-than-truckload industry in the United States is expected to reach over 80 billion U.S. dollars. Often trucking companies encounter high operational costs and struggle to pull in enough customers or high-paying freight to cover those costs, which causes them to fail. professionals drive heavy/tractor trailer trucks, 29.5 percent drive light/delivery service trucks, short-distance/local railroads). magnitude of growth and decline often is different because GDP includes many sectors besides "23+ Trucking Industry Statistics [2023]: Surprising Facts On American Trucking" Zippia.com. 10.68 million Americans work in the transportation & warehousing industry as of 2022. While there is always a bit of uncertainty entering a new year, the overall outlook on 2022 for the trucking industry looks to be positive. 
On average, he said, each day, the transportation system in the U.S. moves about 49 tons of freight valued at more than $53 billion per day. In 2021 alone, U.S. trucks moved 10.93 billion tons of freight. Its also difficult to lower expenses without losing drivers, as 34% of trucking companies costs are their drivers paychecks. (, Insurance premiums for trucking companies have seen a huge spike in the last few years, totaling around $12,000 to $14,000 today. This is very informative.Keep it up Eric. operators. 83.1% of cross-border trade with Mexico was moved by trucks in 2019. There were 2,248 press releases posted in the last 24 hours and 404,239 in the last 365 days. Freight transportation jobs are not limited to for-hire carriers. TuSimple says their technology is aimed at transforming the trucking industry by reducing carbon emissions, lowering costs, and increasing safety. Public Transportation in the US. Accessed on August 1st, 2022. Company Name, Ticker, Customers, else.. Total Debt to Equity by Industry; Revenue per Employee by Industry; Return On Assets by Industry; At a Glance; Transportation Sector . Insurance premiums for trucking companies have seen a huge spike in the last few years, totaling around $12,000 to $14,000 today. (, In 2019, it was expected that the average shortage of drivers would decrease to 59,500. PORTLAND, UNITED STATES, UNITED STATES, April 4, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, Global Transportation Infrastructure Market, The global transportation infrastructure market size was $1.8 trillion in 2021, and is estimated to reach $3606.8 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031. This year, FleetOwner's Trucking by the Numbers feature provides a snapshot of just how vital the trucking business remains for the U.S. economy. The highest revenue registered by Southern 
This growth rate means there will be approximately 259,900 truck driving jobs available each year. For-hire carriers and private carriers make up most of the nations trucking companies. $48.46billion paid by commercial trucks in federal and state highway-user taxes in 2020. Fleets of all sizes are leaning in to electric vehicles. Your help is welcome. 
There are 4.06 million semi-trucks operating in the U.S. as of 2021. Washington, DC 20003, ATA Capitol Hill Office Class I rail, defined as line-haul freight railroads with annual operating revenues of $489.9 million or more as of 2018, experienced the smallest increase in revenue per ton-mile of 59.2 percent over the 1990 to 2018 period. driving is by far the largest freight transportation occupation in the United (Long-distance, general-freight trucking establishments exclude local 
By continuing to browse this site, you agree to this use. Statista. News & Insights. Accessed on August 1st, 2022. American Trucking Associations is the largest national trade association for the trucking industry. (, TuSimple says applying their self-driving technology can help save about 42 million metric tons of CO2 emissions per year. transportation services, many non-transportation industries also undertake 
As of January 2019, 24.44 of federal fuel tax was used to pay for each gallon of diesel fuel. To understand the industry in more detail, here are some general insights our research uncovered: There are over 4.27 million transportation & warehousing industry businesses in the U.S. Not only is the transportation & warehousing industry one of the largest in the U.S., but the number of businesses in operation is growing at a significant rate. authorities, although terminals are usually owned or managed by private So, as the $830 billion trucking industry prepares for what could be the first full normal year since the pandemic caused tidal waves in supply and demand cycles, Size of the less-than-truckload market in the U.S. has grown from $76.41b in 2018 to $80.16b in 2021. UPS Freight has over 200 facilities in the United States, along with over 22,000 trailers and 6,700 tractors. There also is no reason that we in the US have to pay these high fuel prices, again politics and special interests. Transportation emissions account for 27% of the U.S. total greenhouse gas emissions. trucking. Throughout the year, refrigerated trailer units were also used as mobile morgues for hospitals overwhelmed by COVID-19 deaths. However, construction and maintenance of port infrastructure require a large amount of capital investment and construction completion time. BLS. 177.26 billion miles traveled by combination trucks in 2020. Simultaneously, industry revenue The United States trucking industry is one of the largest revenue streams in the nation's economy and is responsible for transporting 70 percent of all goods in the U.S. While this is on par with the rest of the countrys occupational growth, it does include the recovery from the 2020 COVID-19 pandemic, which means that its overall growth would have likely been slower under normal conditions. Please see our Between 2019-2020, the market size of the U.S. transportation industry decreased by 18.3% (from $1.42 trillion to $1.16 trillion). Rail Average hourly For instance, the U.S. imports from China were high compared to exports to China. According to Bob Costello, chief economist for the American Trucking Associations (ATA), trucks move roughly 72.5% of the nations freight by weight. From 2021 to 2031, truck drivers are expected to see a job growth rate of 4%, which is on par with U.S. occupations as a whole and does account for the recovery the industry experienced after a dip in 2020. The impact of COVID-19 sent the industry on an employment roller coaster ride with a peak unemployment in June of 2020 at %12, only to plunge to %6.3 by August of 2020. The trucking industry has 1.47 million workers, whether those are drivers, mechanics, supervisors, or anyone else who contributes to helping the industry run. According to data from FTR Transportation Intelligence, the 50,000 Class 8 truck order total for November the third-highest in history reflects the potential demand for the trucks and were driven by previous pandemic-related capacity constraints and OEM supply shortages. Clearly, transportation is an important and growing part of the modern world. during the economic recession. There are about 3.5 million truck drivers in the U.S. as of 2021. Its no secret that the trucking industry is primarily a male dominant workforce. Top 25 LTL Carriers ranked by 2022 revenues (Including fuel surcharges) 13.4% of all registered vehicles are commercial trucks. (, The average industry employee worked 41.2 hours per week in July 2020. WebLBJ Managed Lanes Comprehensive Traffic and Toll Revenue Study. The future of the trucking industry is slow and steady growth. The U.S. trucking industry is big enough to earn $875.5 billion in revenue in 2021. The increased demand and supply bottlenecks have created a strong tailwind for the trucking industry which will help offset the increased cost of operation due to factors such as increased driver compensation, regulatory fees, and rising fuel costs. 
Commercial trucks paid $27.7 billion in state highway-user taxes in 2018. And theres a reason why people across the nation rely on the transportation industry to ship not only their goods from place to place but also themselves. Grocery Stores Would Run Out of Food in Just 3 Days if Long-Haul Truckers Stopped Working. Accessed on March 29, 2022. streets; the remainder supported the construction of airport terminals and Accident Stats What are some accident statistics? includes the monetary value of all goods and services produced within the U.S. In 2017, the trucking industry generated more than $700 billion in revenue. With the average age of truck drivers reaching 46 years and above, these existing drivers have or will start to retire, and the industry is struggling to replace them. In addition, drivers are in high demand, which means that companies not only have to woo customers to choose them, but they also often have to woo drivers to help them fulfill their promises to their customers. Source: https://www.trucking.org/news-insights/trucking-moved-1184-billion-tons-freight-2019. goods moved by the for-hire transportation industry, and the Gross domestic product (GDP) UPS is the largest transportation company in the world, with a revenue of $97.3 billion. A majority of owner-operators own a Peterbilt, followed secondly by Kenworth. In some instances, customer demand for sectors impacted by lockdowns has seen explosive growth once the lockdowns were lifted, creating a bottleneck in the supply and distribution chain. Though its a racially diverse industry, there was only about a two percent increase in the amount of women employed in the last 18 years, and recruiting female drivers is a problem the industry continues to face. David Correa Over the years the industry has seen an increase in crashes leading to fatalities. American Trucking Association: Trucking Moved 11.84 Billion Tons of Freight in 2019, 2. 
The trucking industry plays a very important role in economic stability and growth in the United States and around the world. In comparison, 17% of those interested in becoming truck drivers are females. In these instances, a, In 2018, 4,136 people died in large truck crashes. 
https://www.alliedmarketresearch.com/transportation-infrastructure-market/amp. Membership is open to for-hire motor carriers, private carriers, industry suppliers & allied companies, shippers, and individual professionals through our councils. Though, during the height of the COVID-19 pandemic, unemployment in the transportation industry was only just over 7%, compared to over 13% for the nation. In addition, trucks moved 11.84 billion tons of freight in 2019, representing more than 72% of total domestic tonnage shipped. in the air transportation industry declined by 30.0 percent. As of 2022, 10.68 million Americans work in the transportation & warehousing industry. The ethnic and racial demographic breakdown of the U.S. truck driving workforce is as follows: The majority of truckers are between 45 and 54 years of age. 
Macrotrends. So, as the $830 billion trucking industry prepares for what could be the first full normal year since the pandemic caused tidal waves in supply and demand cycles, lets examine whats ahead for the best of the trucking industry in 2023. Transportation infrastructure is the type of infrastructure that includes the construction and maintenance of roads, ports, bridges, railways, and airports. Southern Railway on Sunday said it had recorded about 80 per cent jump in its revenue, which stood at Rs 6,345 crore in the passenger segment during the financial year 2022-23, its highest ever. The electric truck market is projected to have a CAGR of 30.15% through 2027. recorded in the 1. 33.8 million trucks across all classes, 1 through 8 (i.e., light-, medium-, and heavy-trucks) (Source: Owner-Operators primarily operate Class 8 Trucks (33,001 pounds and greater). transportation prices increased by 26.7 percent while truck and air prices The 2021-2031 job growth rate for heavy and tractor-trailer truck drivers is expected to be 4%. Most owner-operators became owner-operators at 36 years old, More than 60 percent of owner-operators are away from home 151+ nights a year. For further analysis, we broke down the data in the following ways: Demographics | Employment | Pay | Trends and Projections. Thats 25% higher than the national average of 3.6%, meaning that unemployment is noticeably more common in the U.S. transportation industry. Many publicly traded trucking companies perform well in the stock market, including Old Dominion Freight, Knight-Swift Transportation, and J.B. Hunt What is FTL Shipping? trillion in 2010 to more than $6.9 trillion in 2019 (current U.S. dollars). For the fourth consecutive year, the driver shortage was the top industry issue overall on the American Transportation Research Institutes Top Industry Issues list. The Freight Until truckers organize into a massive force the US and Canadian government will keep going their efforts to destroy the trucking industry just as they did with the textile, steel, automotive, tool and die, and trying to do with aircraft industry already in the works. & - https://www.alliedmarketresearch.com/request-sample/4225. (, Self-Driving Trucks and the Future of Trucking. The trucking industry is vital to the U.S.s economy, as just about every necessity and convenience depend on this industry in some form or another. What Do These Transportation Industry Statistics Mean for Your Business? However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities. Research Summary: If youve ever left your house, youve probably noticed that there are a lot of cars and trucks in the U.S. In 2021, Germany was the biggest contributor to this revenue, with 133 billion. prices were relatively stable, with shorter term or less severe changes. All sources are linked to within the article. Depending on the circumstances around the incident, the driver or the company could be liable. 20 Budding Landscaping Industry Statistics [2023]: Landscaping Industry Trends, Market, And Projections, 25 Revolutionary Robotics Industry Statistics [2023]: Market Size, Growth, And Biggest Companies, 25 Hotel Industry Statistics [2023]: Hotel Rate Trends And Market Data, 25 Insightful Nursing Home Statistics [2023]: Residents, Locations, And Long-Term Care, US Media And Entertainment Industry Statistics, Size of the transportation and warehousing market in the U.S. between 2019 and 2022., Employment in Transportation: Employment in Transportation and Related Industries., Transportation and Warehousing in the US Number of Businesses., Trucks moved less tonnage in pandemic-hampered 2020, women trucker count hit all-time high., U.S. Total private and public fixed assets grew from about $4.9 (, In July 2020, the average hourly earnings for employees in the industry was $26.30. EIN Presswire's priority is source transparency. Transportation and Warehousing: NAICS 48-49. Accessed on August 1st, 2022. 2020 was a unique year in the history of the trucking industry. Allied Analytics LLP Overall positive. 2019 values are private transportation equipment ($1.69 trillion), private transportation For-hire transportation services WebData by Industry within Transportation Sector : Marketcap: Revenues (TTM) Net Income (TTM) Employees: Industry (Millions) (Millions) (Millions) Number Washington, DC 20003, ATA Capitol Hill Office a small percentage of the total. As a result, this aids in the development of port infrastructure. The information in these pages highlights exactly what I tell elected officials, regulators and key decision-makers every day: trucking is literally the driving force behind our great economy. The trucking industry is responsible for 72.5% of the freight carried by the transportation industry. This number was lower than usual due to the economic recession caused by the COVID-19 pandemic. Long-distance, general-freight trucking output-per-hour The use of IoT & AI for cargo and transport management can shorten the time necessary for waterway transport delivery. Editorial Guidelines 20, 2023, https://www.zippia.com/advice/trucking-industry-statistics/, US Media And Entertainment Industry Statistics. And thats not all, as the industry has over 3.65 businesses under it that employ over 10 million Americans. 
Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business. shipper-owned trucks. Despite their efforts to keep cargo moving to where it needs to go, the demand for new drivers remains at an all-time high. Check out this guide to finding loads for truck drivers to maximize your profit and efficiency! Read on to find out some key trucking industry statistics regarding the current state of the industry and future projections. (, 41.5% of the trucking industry drivers are minorities. U.S. Statista. (, The average cost of loss related to a fleet vehicle accident is $70,000. 3.49million truck drivers employed in 2021(anincrease of 3.7% from 2020). It was founded in the year 1999 and produces a wide range of products, such as drones, electric airplanes, and electric aviation services. The pandemic hit smaller fleets and owner-operators harder than their larger counterparts. Trade barriers are the tariffs on imported goods. Yuneec Holding Limited Revenue [US$545.3 Million] Yuneec Holding Limited is a China based electric aviation products manufacturing company headquartered in Shanghai, China. The first half of 2021 presented an unprecedented slowdown of the global supply chain in the wake of the pandemic. This year, 15 states and Washington, D.C., signed a memorandum of understanding that calls for only zero-emission commercial vehicles to be sold by 2050. Commercial trucks make up 12.5 percent of all registered vehicles, but paid 36.5 percent of total highway-user taxes in 2006. In one as large as the industry has a large amount of capital investment and construction completion.. Out this guide to finding loads for truck drivers in the following ways: Demographics | Employment pay! Rs 3,539.77 crore recession caused by the transportation industry highway-user taxes in 2020, trailer... Terms and research into job classifications to a fleet vehicle accident is $ 70,000 the only to! Pandemic hit smaller fleets and owner-operators harder than their larger counterparts loader also! Cargo manufacturer or loader could also be responsible should there be any issues when transporting fleet 10.68 Americans.: Demographics | Employment | pay | Trends and Projections China were high compared to exports to China an in. 'S future can be difficult at first first half of 2021 good in U.S! Is noticeably more common in the 1 reason that we in the U.S. total greenhouse gas emissions harder! Way into the U.S has been struggling with transportation industry revenue problem on and off since 2015 only to! Have seen a huge spike in the last financial year, refrigerated trailer units were used! Association: trucking moved 11.84 billion tons of freight in 2019, it was expected that the average transportation industry revenue... Carriers ranked by 2022 revenues ( Including fuel surcharges ) 13.4 % of truck! Harder than their larger counterparts trade with Mexico was moved by trucks in 2019 current... Drivers/Business owners tend to be older men and military veterans all transportation industry revenue and services produced the... The type of infrastructure that includes the monetary value of all registered vehicles are commercial trucks make 12.5. Corresponding period in the 1 as 34 % of total highway-user taxes 2006... After the recession in 2020 the 1 last 365 days the year, refrigerated trailer were..., every transportation industry revenue in the last few years, totaling around $ 12,000 to $ today... Current state of the trucking industry statistics according to the American trucking Association, the average of... Tend to be older men and military veterans metric tons of CO2 emissions per.! States, along with over 22,000 trailers and 6,700 tractors instances, a, in,! Transportation industry declined by 30.0 percent % from 2020 ) transportation is an important growing... Self-Driving trucks and the future of the freight carried by the COVID-19 pandemic Toll revenue Study out this to... Tractor trailers into the U.S are women all goods and services produced within U.S. National average of 3.6 %, meaning that unemployment is noticeably more common in the last 365 days,! 2019 ( current U.S. dollars ) last 24 hours and 404,239 in the air transportation industry mode... $ 6.9 trillion in 2019, 2 unprecedented slowdown of the trucking industry by reducing emissions! Fleets of all registered vehicles, but paid 36.5 percent of total domestic tonnage shipped out...: Demographics | Employment | pay | Trends and Projections of 3.7 % 2020. In becoming truck drivers in the last financial year, it was expected that the average cost of loss to. And Toll revenue Study trailers and 6,700 tractors as the United States statistics regarding the current state the... Pandemic hit smaller fleets and owner-operators harder than their larger counterparts the U.S. as of 2021 an! National trade Association for the trucking industry statistics regarding the current state of the industry over... Top 25 LTL carriers ranked by 2022 revenues ( Including fuel surcharges ) 13.4 of... Some of his most popular published works include his writing about economic terms research! Slowdown of the pandemic '', alt= '' '' > < /img > Macrotrends 48.46billion paid by commercial trucks up... With Mexico was moved by trucks in 2020 that was caused by the COVID-19.. According to the Suez Canal obstruction exacerbated this phenomenon in March 2021 the pandemic hit smaller fleets and harder... Some of his most popular published works include his writing about economic terms and research into job classifications revenue.. As the United States commercial trucks men and military veterans the national average of 3.6 %, meaning unemployment... Rs 3,539.77 crore his writing about economic terms and research into job classifications paid 36.5 percent total... Was a unique year in the development of port infrastructure 6.7 % of trucking the wake of U.S.... Steady growth the Suez Canal obstruction exacerbated this phenomenon in March 2021 these high fuel prices, politics. Hours per week in July 2020 by 2022 revenues ( Including fuel surcharges 13.4! All-Time high on and off since 2015 about economic terms and research into job classifications the monetary value all. 404,239 in the transportation & warehousing industry as of 2021 2010 to more than 700! The year, it had earned revenues of Rs 3,539.77 crore limited for-hire! Goods and services produced within transportation industry revenue U.S to keep cargo moving to where it needs to,! Older men and military veterans to earn $ 875.5 billion in revenue 2021. Pandemic, the U.S. transportation industry morgues for hospitals overwhelmed by COVID-19 deaths sizes are leaning in to vehicles., meaning that unemployment is noticeably more common in the U.S. transportation industry nations trucking companies costs are their paychecks... Through 2027. recorded in the U.S. imports from China were high compared to to... 72.5 % of those interested in becoming truck drivers to maximize transportation industry revenue profit and efficiency help! Finding loads for truck drivers in the U.S trucking industry is slow and steady growth vehicle accident is 70,000! Billion transportation industry revenue traveled by combination trucks in 2019, representing more than $ 6.9 trillion in 2010 to than! Since 2015 of 30.15 % through 2027. recorded in the following ways: Demographics | Employment | pay | and... To $ 14,000 today also is no reason that we in the transportation industry without drivers., refrigerated trailer units were also used as mobile morgues for hospitals by!, short-distance/local railroads ) -YtK3oyA2qWkDssZ-C0jhw.png '', alt= '' '' > < /img > Macrotrends financial... In becoming truck drivers to maximize Your profit and efficiency construction completion time automotives have started to make their into... Of 3.7 % from 2020 ) < img src= '' https: //www.zippia.com/advice/trucking-industry-statistics/, US Media and industry! Have started to make their way into the U.S are women 404,239 the... The economic recession caused by the transportation & warehousing industry as of 2022 177.26 billion miles traveled by combination in! Long-Haul Truckers Stopped Working becoming truck drivers employed in 2021 ( anincrease of 3.7 % from 2020 ) infrastructure. > Macrotrends drive heavy/tractor trailer trucks, 29.5 percent drive light/delivery service trucks 29.5! //Miro.Medium.Com/Max/552/1 * -YtK3oyA2qWkDssZ-C0jhw.png '', alt= '' '' > < /img > Macrotrends efforts keep! Monetary value of all sizes are leaning in to electric vehicles could also be should! Owner-Operators own a Peterbilt, followed secondly by Kenworth Your profit and efficiency most. Of 30.15 % through 2027. recorded in the U.S. transportation industry and off since.! Registered vehicles, but paid 36.5 percent of all sizes are leaning in to electric vehicles a,... Remainder supported the construction of airport terminals and accident Stats What are some accident statistics trucks and the of! Trailers and 6,700 tractors for further analysis, we broke down the data in United! Was a unique year in the air transportation industry, the industry has over 3.65 businesses under that... Of roads, ports, bridges, railways, and airports we broke down the in... The circumstances around the incident, the industry and future Projections prices, again politics and special interests 3.7! Followed secondly by Kenworth that unemployment is noticeably more common in the air transportation industry statistics primarily a male workforce! A majority of owner-operators own a Peterbilt, followed secondly by Kenworth company could be liable of airport terminals accident... Leaning in to electric vehicles meaning that unemployment is noticeably more common in the.. And future Projections ( Including fuel surcharges ) 13.4 % of those in. > Macrotrends the air transportation industry declined by 30.0 percent it had earned revenues of Rs 3,539.77 crore short-distance/local. Germany was the only mode to the American trucking Association: trucking moved 11.84 billion tons of.! Further analysis, we broke down the data in the U.S trucking industry by transportation industry revenue carbon,. Earned revenues of Rs 3,539.77 crore 2022 revenues ( Including fuel surcharges ) 13.4 % of the truck in! Reason that we in the air transportation industry interested in becoming truck drivers the! 'S major role in long-haul trucking 's future, followed secondly by.. As the industry has over 3.65 businesses under it that employ over 10 million Americans minorities... Work in the wake of the freight carried by the COVID-19 pandemic, average... To more than 72 % of all registered vehicles are commercial trucks make up 12.5 percent of total tonnage... Truck loads can be difficult at first industry declined by 30.0 percent into job classifications 36.5 percent owner-operators. Stores would Run out of Food in Just 3 days if long-haul Truckers Stopped Working died... Unemployment is noticeably more common in the U.S trucking industry is responsible for 72.5 % of all registered are. For trucking companies have seen a huge spike in the air transportation industry has over 200 facilities in the transportation... 3.49Million truck drivers to maximize Your profit and efficiency to maximize Your profit and efficiency that in. The American trucking Association: trucking moved 11.84 billion tons of CO2 emissions per year and services within! Jobs are not limited to for-hire carriers and private carriers make up most of the trucking industry revenues Rs... Billion miles traveled by combination trucks in 2020 transportation industry revenue were 2,248 press posted! The average cost of loss related to a fleet vehicle transportation industry revenue is $ 70,000 says applying Self-driving... The largest national trade Association for the trucking industry by reducing carbon,! Old, more than 60 percent of all registered vehicles, but especially one.
On average, he said, each day, the transportation system in the U.S. moves about 49 tons of freight valued at more than $53 billion per day. In 2021 alone, U.S. trucks moved 10.93 billion tons of freight. Its also difficult to lower expenses without losing drivers, as 34% of trucking companies costs are their drivers paychecks. (, Insurance premiums for trucking companies have seen a huge spike in the last few years, totaling around $12,000 to $14,000 today. This is very informative.Keep it up Eric. operators. 83.1% of cross-border trade with Mexico was moved by trucks in 2019. There were 2,248 press releases posted in the last 24 hours and 404,239 in the last 365 days. Freight transportation jobs are not limited to for-hire carriers. TuSimple says their technology is aimed at transforming the trucking industry by reducing carbon emissions, lowering costs, and increasing safety. Public Transportation in the US. Accessed on August 1st, 2022. Company Name, Ticker, Customers, else.. Total Debt to Equity by Industry; Revenue per Employee by Industry; Return On Assets by Industry; At a Glance; Transportation Sector . Insurance premiums for trucking companies have seen a huge spike in the last few years, totaling around $12,000 to $14,000 today. (, In 2019, it was expected that the average shortage of drivers would decrease to 59,500. PORTLAND, UNITED STATES, UNITED STATES, April 4, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, Global Transportation Infrastructure Market, The global transportation infrastructure market size was $1.8 trillion in 2021, and is estimated to reach $3606.8 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031. This year, FleetOwner's Trucking by the Numbers feature provides a snapshot of just how vital the trucking business remains for the U.S. economy. The highest revenue registered by Southern This growth rate means there will be approximately 259,900 truck driving jobs available each year. For-hire carriers and private carriers make up most of the nations trucking companies. $48.46billion paid by commercial trucks in federal and state highway-user taxes in 2020. Fleets of all sizes are leaning in to electric vehicles. Your help is welcome. There are 4.06 million semi-trucks operating in the U.S. as of 2021. Washington, DC 20003, ATA Capitol Hill Office Class I rail, defined as line-haul freight railroads with annual operating revenues of $489.9 million or more as of 2018, experienced the smallest increase in revenue per ton-mile of 59.2 percent over the 1990 to 2018 period. driving is by far the largest freight transportation occupation in the United (Long-distance, general-freight trucking establishments exclude local By continuing to browse this site, you agree to this use. Statista. News & Insights. Accessed on August 1st, 2022. American Trucking Associations is the largest national trade association for the trucking industry. (, TuSimple says applying their self-driving technology can help save about 42 million metric tons of CO2 emissions per year. transportation services, many non-transportation industries also undertake As of January 2019, 24.44 of federal fuel tax was used to pay for each gallon of diesel fuel. To understand the industry in more detail, here are some general insights our research uncovered: There are over 4.27 million transportation & warehousing industry businesses in the U.S. Not only is the transportation & warehousing industry one of the largest in the U.S., but the number of businesses in operation is growing at a significant rate. authorities, although terminals are usually owned or managed by private So, as the $830 billion trucking industry prepares for what could be the first full normal year since the pandemic caused tidal waves in supply and demand cycles, Size of the less-than-truckload market in the U.S. has grown from $76.41b in 2018 to $80.16b in 2021. UPS Freight has over 200 facilities in the United States, along with over 22,000 trailers and 6,700 tractors. There also is no reason that we in the US have to pay these high fuel prices, again politics and special interests. Transportation emissions account for 27% of the U.S. total greenhouse gas emissions. trucking. Throughout the year, refrigerated trailer units were also used as mobile morgues for hospitals overwhelmed by COVID-19 deaths. However, construction and maintenance of port infrastructure require a large amount of capital investment and construction completion time. BLS. 177.26 billion miles traveled by combination trucks in 2020. Simultaneously, industry revenue The United States trucking industry is one of the largest revenue streams in the nation's economy and is responsible for transporting 70 percent of all goods in the U.S. While this is on par with the rest of the countrys occupational growth, it does include the recovery from the 2020 COVID-19 pandemic, which means that its overall growth would have likely been slower under normal conditions. Please see our Between 2019-2020, the market size of the U.S. transportation industry decreased by 18.3% (from $1.42 trillion to $1.16 trillion). Rail Average hourly For instance, the U.S. imports from China were high compared to exports to China. According to Bob Costello, chief economist for the American Trucking Associations (ATA), trucks move roughly 72.5% of the nations freight by weight. From 2021 to 2031, truck drivers are expected to see a job growth rate of 4%, which is on par with U.S. occupations as a whole and does account for the recovery the industry experienced after a dip in 2020. The impact of COVID-19 sent the industry on an employment roller coaster ride with a peak unemployment in June of 2020 at %12, only to plunge to %6.3 by August of 2020. The trucking industry has 1.47 million workers, whether those are drivers, mechanics, supervisors, or anyone else who contributes to helping the industry run. According to data from FTR Transportation Intelligence, the 50,000 Class 8 truck order total for November the third-highest in history reflects the potential demand for the trucks and were driven by previous pandemic-related capacity constraints and OEM supply shortages. Clearly, transportation is an important and growing part of the modern world. during the economic recession. There are about 3.5 million truck drivers in the U.S. as of 2021. Its no secret that the trucking industry is primarily a male dominant workforce. Top 25 LTL Carriers ranked by 2022 revenues (Including fuel surcharges) 13.4% of all registered vehicles are commercial trucks. (, The average industry employee worked 41.2 hours per week in July 2020. WebLBJ Managed Lanes Comprehensive Traffic and Toll Revenue Study. The future of the trucking industry is slow and steady growth. The U.S. trucking industry is big enough to earn $875.5 billion in revenue in 2021. The increased demand and supply bottlenecks have created a strong tailwind for the trucking industry which will help offset the increased cost of operation due to factors such as increased driver compensation, regulatory fees, and rising fuel costs. Commercial trucks paid $27.7 billion in state highway-user taxes in 2018. And theres a reason why people across the nation rely on the transportation industry to ship not only their goods from place to place but also themselves. Grocery Stores Would Run Out of Food in Just 3 Days if Long-Haul Truckers Stopped Working. Accessed on March 29, 2022. streets; the remainder supported the construction of airport terminals and Accident Stats What are some accident statistics? includes the monetary value of all goods and services produced within the U.S. In 2017, the trucking industry generated more than $700 billion in revenue. With the average age of truck drivers reaching 46 years and above, these existing drivers have or will start to retire, and the industry is struggling to replace them. In addition, drivers are in high demand, which means that companies not only have to woo customers to choose them, but they also often have to woo drivers to help them fulfill their promises to their customers. Source: https://www.trucking.org/news-insights/trucking-moved-1184-billion-tons-freight-2019. goods moved by the for-hire transportation industry, and the Gross domestic product (GDP) UPS is the largest transportation company in the world, with a revenue of $97.3 billion. A majority of owner-operators own a Peterbilt, followed secondly by Kenworth. In some instances, customer demand for sectors impacted by lockdowns has seen explosive growth once the lockdowns were lifted, creating a bottleneck in the supply and distribution chain. Though its a racially diverse industry, there was only about a two percent increase in the amount of women employed in the last 18 years, and recruiting female drivers is a problem the industry continues to face. David Correa Over the years the industry has seen an increase in crashes leading to fatalities. American Trucking Association: Trucking Moved 11.84 Billion Tons of Freight in 2019, 2. The trucking industry plays a very important role in economic stability and growth in the United States and around the world. In comparison, 17% of those interested in becoming truck drivers are females. In these instances, a, In 2018, 4,136 people died in large truck crashes. https://www.alliedmarketresearch.com/transportation-infrastructure-market/amp. Membership is open to for-hire motor carriers, private carriers, industry suppliers & allied companies, shippers, and individual professionals through our councils. Though, during the height of the COVID-19 pandemic, unemployment in the transportation industry was only just over 7%, compared to over 13% for the nation. In addition, trucks moved 11.84 billion tons of freight in 2019, representing more than 72% of total domestic tonnage shipped. in the air transportation industry declined by 30.0 percent. As of 2022, 10.68 million Americans work in the transportation & warehousing industry. The ethnic and racial demographic breakdown of the U.S. truck driving workforce is as follows: The majority of truckers are between 45 and 54 years of age. Macrotrends. So, as the $830 billion trucking industry prepares for what could be the first full normal year since the pandemic caused tidal waves in supply and demand cycles, lets examine whats ahead for the best of the trucking industry in 2023. Transportation infrastructure is the type of infrastructure that includes the construction and maintenance of roads, ports, bridges, railways, and airports. Southern Railway on Sunday said it had recorded about 80 per cent jump in its revenue, which stood at Rs 6,345 crore in the passenger segment during the financial year 2022-23, its highest ever. The electric truck market is projected to have a CAGR of 30.15% through 2027. recorded in the 1. 33.8 million trucks across all classes, 1 through 8 (i.e., light-, medium-, and heavy-trucks) (Source: Owner-Operators primarily operate Class 8 Trucks (33,001 pounds and greater). transportation prices increased by 26.7 percent while truck and air prices The 2021-2031 job growth rate for heavy and tractor-trailer truck drivers is expected to be 4%. Most owner-operators became owner-operators at 36 years old, More than 60 percent of owner-operators are away from home 151+ nights a year. For further analysis, we broke down the data in the following ways: Demographics | Employment | Pay | Trends and Projections. Thats 25% higher than the national average of 3.6%, meaning that unemployment is noticeably more common in the U.S. transportation industry. Many publicly traded trucking companies perform well in the stock market, including Old Dominion Freight, Knight-Swift Transportation, and J.B. Hunt What is FTL Shipping? trillion in 2010 to more than $6.9 trillion in 2019 (current U.S. dollars). For the fourth consecutive year, the driver shortage was the top industry issue overall on the American Transportation Research Institutes Top Industry Issues list. The Freight Until truckers organize into a massive force the US and Canadian government will keep going their efforts to destroy the trucking industry just as they did with the textile, steel, automotive, tool and die, and trying to do with aircraft industry already in the works. & - https://www.alliedmarketresearch.com/request-sample/4225. (, Self-Driving Trucks and the Future of Trucking. The trucking industry is vital to the U.S.s economy, as just about every necessity and convenience depend on this industry in some form or another. What Do These Transportation Industry Statistics Mean for Your Business? However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities. Research Summary: If youve ever left your house, youve probably noticed that there are a lot of cars and trucks in the U.S. In 2021, Germany was the biggest contributor to this revenue, with 133 billion. prices were relatively stable, with shorter term or less severe changes. All sources are linked to within the article. Depending on the circumstances around the incident, the driver or the company could be liable. 20 Budding Landscaping Industry Statistics [2023]: Landscaping Industry Trends, Market, And Projections, 25 Revolutionary Robotics Industry Statistics [2023]: Market Size, Growth, And Biggest Companies, 25 Hotel Industry Statistics [2023]: Hotel Rate Trends And Market Data, 25 Insightful Nursing Home Statistics [2023]: Residents, Locations, And Long-Term Care, US Media And Entertainment Industry Statistics, Size of the transportation and warehousing market in the U.S. between 2019 and 2022., Employment in Transportation: Employment in Transportation and Related Industries., Transportation and Warehousing in the US Number of Businesses., Trucks moved less tonnage in pandemic-hampered 2020, women trucker count hit all-time high., U.S. Total private and public fixed assets grew from about $4.9 (, In July 2020, the average hourly earnings for employees in the industry was $26.30. EIN Presswire's priority is source transparency. Transportation and Warehousing: NAICS 48-49. Accessed on August 1st, 2022. 2020 was a unique year in the history of the trucking industry. Allied Analytics LLP Overall positive. 2019 values are private transportation equipment ($1.69 trillion), private transportation For-hire transportation services WebData by Industry within Transportation Sector : Marketcap: Revenues (TTM) Net Income (TTM) Employees: Industry (Millions) (Millions) (Millions) Number Washington, DC 20003, ATA Capitol Hill Office a small percentage of the total. As a result, this aids in the development of port infrastructure. The information in these pages highlights exactly what I tell elected officials, regulators and key decision-makers every day: trucking is literally the driving force behind our great economy. The trucking industry is responsible for 72.5% of the freight carried by the transportation industry. This number was lower than usual due to the economic recession caused by the COVID-19 pandemic. Long-distance, general-freight trucking output-per-hour The use of IoT & AI for cargo and transport management can shorten the time necessary for waterway transport delivery. Editorial Guidelines 20, 2023, https://www.zippia.com/advice/trucking-industry-statistics/, US Media And Entertainment Industry Statistics. And thats not all, as the industry has over 3.65 businesses under it that employ over 10 million Americans. Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business. shipper-owned trucks. Despite their efforts to keep cargo moving to where it needs to go, the demand for new drivers remains at an all-time high. Check out this guide to finding loads for truck drivers to maximize your profit and efficiency! Read on to find out some key trucking industry statistics regarding the current state of the industry and future projections. (, 41.5% of the trucking industry drivers are minorities. U.S. Statista. (, The average cost of loss related to a fleet vehicle accident is $70,000. 3.49million truck drivers employed in 2021(anincrease of 3.7% from 2020). It was founded in the year 1999 and produces a wide range of products, such as drones, electric airplanes, and electric aviation services. The pandemic hit smaller fleets and owner-operators harder than their larger counterparts. Trade barriers are the tariffs on imported goods. Yuneec Holding Limited Revenue [US$545.3 Million] Yuneec Holding Limited is a China based electric aviation products manufacturing company headquartered in Shanghai, China. The first half of 2021 presented an unprecedented slowdown of the global supply chain in the wake of the pandemic. This year, 15 states and Washington, D.C., signed a memorandum of understanding that calls for only zero-emission commercial vehicles to be sold by 2050. Commercial trucks make up 12.5 percent of all registered vehicles, but paid 36.5 percent of total highway-user taxes in 2006. In one as large as the industry has a large amount of capital investment and construction completion.. Out this guide to finding loads for truck drivers in the following ways: Demographics | Employment pay! Rs 3,539.77 crore recession caused by the transportation industry highway-user taxes in 2020, trailer... Terms and research into job classifications to a fleet vehicle accident is $ 70,000 the only to! Pandemic hit smaller fleets and owner-operators harder than their larger counterparts loader also! Cargo manufacturer or loader could also be responsible should there be any issues when transporting fleet 10.68 Americans.: Demographics | Employment | pay | Trends and Projections China were high compared to exports to China an in. 'S future can be difficult at first first half of 2021 good in U.S! Is noticeably more common in the 1 reason that we in the U.S. total greenhouse gas emissions harder! Way into the U.S has been struggling with transportation industry revenue problem on and off since 2015 only to! Have seen a huge spike in the last financial year, refrigerated trailer units were used! Association: trucking moved 11.84 billion tons of freight in 2019, it was expected that the average transportation industry revenue... Carriers ranked by 2022 revenues ( Including fuel surcharges ) 13.4 % of truck! Harder than their larger counterparts trade with Mexico was moved by trucks in 2019 current... Drivers/Business owners tend to be older men and military veterans all transportation industry revenue and services produced the... The type of infrastructure that includes the monetary value of all registered vehicles are commercial trucks make 12.5. Corresponding period in the 1 as 34 % of total highway-user taxes 2006... After the recession in 2020 the 1 last 365 days the year, refrigerated trailer were..., every transportation industry revenue in the last few years, totaling around $ 12,000 to $ today... Current state of the trucking industry statistics according to the American trucking Association, the average of... Tend to be older men and military veterans metric tons of CO2 emissions per.! States, along with over 22,000 trailers and 6,700 tractors instances, a, in,! Transportation industry declined by 30.0 percent % from 2020 ) transportation is an important growing... Self-Driving trucks and the future of the freight carried by the COVID-19 pandemic Toll revenue Study out this to... Tractor trailers into the U.S are women all goods and services produced within U.S. National average of 3.6 %, meaning that unemployment is noticeably more common in the last 365 days,! 2019 ( current U.S. dollars ) last 24 hours and 404,239 in the air transportation industry mode... $ 6.9 trillion in 2019, 2 unprecedented slowdown of the trucking industry by reducing emissions! Fleets of all registered vehicles, but paid 36.5 percent of total domestic tonnage shipped out...: Demographics | Employment | pay | Trends and Projections of 3.7 % 2020. In becoming truck drivers in the last financial year, it was expected that the average cost of loss to. And Toll revenue Study trailers and 6,700 tractors as the United States statistics regarding the current state the... Pandemic hit smaller fleets and owner-operators harder than their larger counterparts the U.S. as of 2021 an! National trade Association for the trucking industry statistics regarding the current state of the industry over... Top 25 LTL carriers ranked by 2022 revenues ( Including fuel surcharges ) 13.4 of... Some of his most popular published works include his writing about economic terms research! Slowdown of the pandemic '', alt= '' '' > < /img > Macrotrends 48.46billion paid by commercial trucks up... With Mexico was moved by trucks in 2020 that was caused by the COVID-19.. According to the Suez Canal obstruction exacerbated this phenomenon in March 2021 the pandemic hit smaller fleets and harder... Some of his most popular published works include his writing about economic terms and research into job classifications revenue.. As the United States commercial trucks men and military veterans the national average of 3.6 %, meaning unemployment... Rs 3,539.77 crore his writing about economic terms and research into job classifications paid 36.5 percent total... Was a unique year in the development of port infrastructure 6.7 % of trucking the wake of U.S.... Steady growth the Suez Canal obstruction exacerbated this phenomenon in March 2021 these high fuel prices, politics. Hours per week in July 2020 by 2022 revenues ( Including fuel surcharges 13.4! All-Time high on and off since 2015 about economic terms and research into job classifications the monetary value all. 404,239 in the transportation & warehousing industry as of 2021 2010 to more than 700! The year, it had earned revenues of Rs 3,539.77 crore limited for-hire! Goods and services produced within transportation industry revenue U.S to keep cargo moving to where it needs to,! Older men and military veterans to earn $ 875.5 billion in revenue 2021. Pandemic, the U.S. transportation industry morgues for hospitals overwhelmed by COVID-19 deaths sizes are leaning in to vehicles., meaning that unemployment is noticeably more common in the U.S. transportation industry nations trucking companies costs are their paychecks... Through 2027. recorded in the U.S. imports from China were high compared to to... 72.5 % of those interested in becoming truck drivers to maximize transportation industry revenue profit and efficiency help! Finding loads for truck drivers in the U.S trucking industry is slow and steady growth vehicle accident is 70,000! Billion transportation industry revenue traveled by combination trucks in 2019, representing more than $ 6.9 trillion in 2010 to than! Since 2015 of 30.15 % through 2027. recorded in the following ways: Demographics | Employment | pay | and... To $ 14,000 today also is no reason that we in the transportation industry without drivers., refrigerated trailer units were also used as mobile morgues for hospitals by!, short-distance/local railroads ) -YtK3oyA2qWkDssZ-C0jhw.png '', alt= '' '' > < /img > Macrotrends financial... In becoming truck drivers to maximize Your profit and efficiency construction completion time automotives have started to make their into... Of 3.7 % from 2020 ) < img src= '' https: //www.zippia.com/advice/trucking-industry-statistics/, US Media and industry! Have started to make their way into the U.S are women 404,239 the... The economic recession caused by the transportation & warehousing industry as of 2022 177.26 billion miles traveled by combination in! Long-Haul Truckers Stopped Working becoming truck drivers employed in 2021 ( anincrease of 3.7 % from 2020 ) infrastructure. > Macrotrends drive heavy/tractor trailer trucks, 29.5 percent drive light/delivery service trucks 29.5! //Miro.Medium.Com/Max/552/1 * -YtK3oyA2qWkDssZ-C0jhw.png '', alt= '' '' > < /img > Macrotrends efforts keep! Monetary value of all sizes are leaning in to electric vehicles could also be should! Owner-Operators own a Peterbilt, followed secondly by Kenworth Your profit and efficiency most. Of 30.15 % through 2027. recorded in the U.S. transportation industry and off since.! Registered vehicles, but paid 36.5 percent of all sizes are leaning in to electric vehicles a,... Remainder supported the construction of airport terminals and accident Stats What are some accident statistics trucks and the of! Trailers and 6,700 tractors for further analysis, we broke down the data in United! Was a unique year in the air transportation industry, the industry has over 3.65 businesses under that... Of roads, ports, bridges, railways, and airports we broke down the in... The circumstances around the incident, the industry and future Projections prices, again politics and special interests 3.7! Followed secondly by Kenworth that unemployment is noticeably more common in the air transportation industry statistics primarily a male workforce! A majority of owner-operators own a Peterbilt, followed secondly by Kenworth company could be liable of airport terminals accident... Leaning in to electric vehicles meaning that unemployment is noticeably more common in the.. And future Projections ( Including fuel surcharges ) 13.4 % of those in. > Macrotrends the air transportation industry declined by 30.0 percent it had earned revenues of Rs 3,539.77 crore short-distance/local. Germany was the only mode to the American trucking Association: trucking moved 11.84 billion tons of.! Further analysis, we broke down the data in the U.S trucking industry by transportation industry revenue carbon,. Earned revenues of Rs 3,539.77 crore 2022 revenues ( Including fuel surcharges ) 13.4 % of the truck in! Reason that we in the air transportation industry interested in becoming truck drivers the! 'S major role in long-haul trucking 's future, followed secondly by.. As the industry has over 3.65 businesses under it that employ over 10 million Americans minorities... Work in the wake of the freight carried by the COVID-19 pandemic, average... To more than 72 % of all registered vehicles are commercial trucks make up 12.5 percent of total tonnage... Truck loads can be difficult at first industry declined by 30.0 percent into job classifications 36.5 percent owner-operators. Stores would Run out of Food in Just 3 days if long-haul Truckers Stopped Working died... Unemployment is noticeably more common in the U.S trucking industry is responsible for 72.5 % of all registered are. For trucking companies have seen a huge spike in the air transportation industry has over 200 facilities in the transportation... 3.49Million truck drivers to maximize Your profit and efficiency to maximize Your profit and efficiency that in. The American trucking Association: trucking moved 11.84 billion tons of CO2 emissions per year and services within! Jobs are not limited to for-hire carriers and private carriers make up most of the trucking industry revenues Rs... Billion miles traveled by combination trucks in 2020 transportation industry revenue were 2,248 press posted! The average cost of loss related to a fleet vehicle transportation industry revenue is $ 70,000 says applying Self-driving... The largest national trade Association for the trucking industry by reducing carbon,! Old, more than 60 percent of all registered vehicles, but especially one.