Trade barriers are the tariffs on imported goods. The typical owner-operator has accumulated approximately 2.9 million miles of driving during their career, most of which was without a Department of Transportation reportable accident resulting in 40 crashes per 100 million vehicle miles traveled, or almost 3.7 times below the national crash rate for the overall trucking industry. Distribution of Costs in Freight Trucking in the United States From 2008 to 2020, by Type. 7.95 million people are employed in trucking-related jobs, including 3.6 million professional drivers. David Correa Fixed transportation assets reflect the important role of both the Maximize Revenue and Minimize Headaches With CloudTrucks Schedule Optimizer. 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. WebTransportation services share of total trade of commercial exports varies from a low of 22.3 percent in Western Europe to a high of 38.5 percent in Africa. EIA. WebThe global transportation services industry group had total revenues of $2,207,827.8m in 2019, representing a compound annual growth rate (CAGR) of 4% between 2015 and 2019. 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. The global transportation industry is expected to grow at a CAGR of 38.5% through 2027. When it comes to highway taxes, commercial trucks paid $45.7 billion in federal and state highway-user taxes in 2018. has already started testing their self-driving trucks and predicts these trucks will not only have a positive impact on the industry, but the environment as well. 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. 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. Can you outline what you find to be untrue? Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business. TSI increased by 37.1 percent while the real GDP increased 41.6 percent between the third (, In July 2020, the average hourly earnings for employees in the industry was $26.30. (, In 2018, 74% of large truck crashes involved tractor trailers. When it comes to rating schools, we consider price, the depth of the course, and reputation. prices were relatively stable, with shorter term or less severe changes. But fleet owners and operators, dispatchers, back-office staff, and, of course, drivers persevered and kept freight moving. Source: https://www.trucking.org/news-insights/trucking-moved-1184-billion-tons-freight-2019. We use cookies for analytics, personalized content and ads. Aside from that, more companies are cracking down on safety prioritization and are having trouble finding qualified drivers. What Do These Transportation Industry Statistics Mean for Your Business? In comparison, total household transportations contribution to a small percentage of the total. Simultaneously, industry revenue Its no secret that the trucking industry is primarily a male dominant workforce. activities have gone up in all industries shown in this table. 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. Air transportation output-per-hour worked grew 114.8 percent (126) between 2000 and 2019 but declined sharply in 2020 (54). 2020 was a unique year in the history of the trucking industry. A majority of owner-operators own a Peterbilt, followed secondly by Kenworth. transportation). Minority owner-operators are around 21 percent. (, Allowed HTML tags:

1. . Trucking in 2020 accounted for 26.4 percent of total transportation and terminals and other infrastructure. and local governments are a major source of funding for transportation Economics and Industry Data. Accessed on March 29, 2022. for diesel and jet fuel peaked in summer 2008, followed by a sharp decline 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? CareerExplorer. ATA Headquarters The driver shortage problem has also been compounded by stricter drug and alcohol testing mandates, an older demographic of drivers retiring from the industry, and the fact that women and minorities still represent a small fraction of the driving force. For-hire transportation Transportation and Warehousing in the US Number of Businesses. Accessed on August 1st, 2022. Its also difficult to lower expenses without losing drivers, as 34% of trucking companies costs are their drivers paychecks. (, The average age of drivers in the trucking industry is 46 years old. The industrys average median salary is not very competitive compared to other sectors, which may contribute to the high turnover rate and difficulty in recruiting drivers. The highest revenue registered by Southern Research Summary. 11.84 billion tons moved by truck in 2019, up from 11.49 billion tons in 2018. Depending on the circumstances around the incident, the driver or the company could be liable. IBISWorld. prices charged for transportation purchased from carriers and support 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. (, 41.5% of the trucking industry drivers are minorities. (, The average age of drivers in the trucking industry is 46 years old. UPS is the largest transportation company in the world, with a revenue of $97.3 billion. 40+ Must-Know Trucking Industry Statistics in 2022. The first half of 2021 presented an unprecedented slowdown of the global supply chain in the wake of the pandemic. The U.S. trucking industry saw $875.5 billion in revenue in 2021, up from $732.3 billion in 2020. Great article. Volume of Freight Moved by Trucks in the United States From 2014 to 2020. Accessed on March 30, 2022. Transportation Sector Unemployment Rate of 4.5% In May 2022 Is Below the May 2021 Level of 7.9% But Just Above the Pre-Pandemic May Level of 4.3% in 2019., Transportation and Warehousing: NAICS 48-49., Find Out Here How Many Miles Can a Truck Driver Drive in a Day., Global Electric Truck Market (2022 to 2027) Industry Trends, Share, Size, Growth, Opportunity and Forecasts., MaaS Market Projected to Reach $40.1 Billion by 2030.. Size of the transportation and warehousing market in the U.S. between 2019 and 2022. Accessed on August 1st, 2022. Have questions? U.S. Insurance premiums for trucking companies have seen a huge spike in the last few years, totaling around $12,000 to $14,000 today. Transportation equipment and Occupational Outlook Handbook: Heavy and Tractor-Trailer Truck Drivers. The White House. * Other motor carriers are those that did not specify their segment or checked multiple segments. transportation. Air-cargo services in the private sector operate in public In March, the familiarity of daily life in the U.S. was upended when the COVID-19 pandemic ramped up in the U.S. (, The same survey found that 37% of small business owners believe that fleets could go fully autonomous in as little as 10 years. Air and water navigation is mostly controlled by the Federal What is the future of the trucking industry? Safe, reliable and efficient motor carriers enable businesses throughout the supply chain to maintain lean inventories, thereby saving the economy billions of dollars each year.. Transportations This includes 3.6 million professional drivers; 91.3% of fleets operate six or fewer trucks and 97.4% operate 20 or fewer, meaning most carriers are small companies. In 2019, the industrys total revenue reached $791.7 billion. Just about every service and business in the U.S. relies on the trucking industry in some form or another. Washington, DC 20003, ATA Capitol Hill Office Everything from raw materials from forests, mines, and farms must be transported by truck in a process that repeats itself all the way to the end user or consumer. Yuneec Holding Limited Revenue [US$545.3 Million] Yuneec Holding Limited is a China based electric aviation products manufacturing company headquartered in Shanghai, China. After the recession in 2020 that was caused by the COVID-19 pandemic, the industry has been recovering and growing. More specifically, a whopping 43.3% of transit workers are over 55. Since the trucking and freight industry is such a lucrative source of income for the nations economy, a lot of businesses rely on it for their everyday operations. Trucks transported 66.1% of the value of surface trade between the U.S. and Canada in 2021. Federal, state, About 73% of the countrys freight (by weight) is shipped via truck, and if trucks stopped driving, it would only take three days for grocery stores to be out of stock of most, if not all, of their goods. Trucks moved a total of $772 billion worth of freight in 2019. 1. 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 trucking industry is so fragmented because there is a low cost of entry. Updated December 27, 2022 What is a Cyclical Industry? state or local governments. (, Insurance premiums for trucking companies have seen a huge spike in the last few years, totaling around $12,000 to $14,000 today. The trucking industry is responsible for transporting goods all over the nation as well as our bordering countries. (, Employment for truck drivers was projected to grow by only 2 percent from 2019 to 2029. Freight trucks carry a variety of consumer goods, everything from food to cars or raw materials and oil. In these instances, a, In 2018, 4,136 people died in large truck crashes. (, The average annual wage for heavy and tractor-trailer truck drivers is $46,370. Quarter 2023 above average Revenue growth of 5.29 % year on year, Total Ranking #6 . In 2015, registered trucks in the U.S. traveled a total of 450.4 billion miles. The U.S. transportation industry is big, with market size of $1.26 trillion. transportation prices increased by 26.7 percent while truck and air prices (Long-distance, general-freight trucking establishments exclude local short-distance/local railroads). larger than any of the other transportation modes. bicycle infrastructure. (, Applying TuSimples technology to all diesel trucks could result in saving 4 billion gallons of fuel with a cost savings of $10 billion per year. Use of energy explained. Accessed on August 1st, 2022. According to Bob Costello, chief economist for the American Trucking Associations (ATA), trucks move roughly 72.5% of the nations freight by weight. NACFE report affirms hydrogen's major role in long-haul trucking's future. (, Self-Driving Trucks and the Future of Trucking. Most of what is stated here is not true at all about the trucking industry. The total number of trucks registered and used for business reached 36.9 million in 2018. O/O are the back bone of the trucks operating and moving the freight in the US and Canada but they are robed of their right full earnings by laws that are made by political hacks that are lobbied by the brokerages that control the loads and freight. Revenue fell 88% during its fiscal Q2 2020, resulting in a $5.7 An official website of the United States government. No votes so far! flatbeds, tankers, or refrigerated trailers.) The trucking industry plays a very important role in economic stability and growth in the United States and around the world. WebTransportation organizations will need to ensure that transportation networks can continue to operate throughout the lockdown measures, striking a balance between reduced operations and providing enough capacity for key workers to 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. (, In 2019, it was expected that the average shortage of drivers would decrease to 59,500. Washington, DC 20003, ATA Capitol Hill Office 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 average industry employee worked 41.2 hours per week in July 2020. 10.68 million Americans work in the transportation & warehousing industry as of 2022. MaaS Market Projected to Reach $40.1 Billion by 2030. Accessed on August 1st, 2022. New technology can seem scary to an industry thats been doing well for years, but embracing this change can create a safer industry and contribute to a safer environment overall. Discover gifts that provide comfort and safety for the special trucker in your life. Prices trucking and truck operators that require specialized equipment, such as $48.46billion paid by commercial trucks in federal and state highway-user taxes in 2020. WebWe specialize in providing services to the medical equipment industry, electronics, high end consumer products and furniture as well as retail logistics. (, To combat the driver shortage, the industry will need to hire about 1.1 million new drivers for the next decade or an average of 110,000 drivers per year. 430 First Street, SE, Suite 100 Revenues grew strongly by 95.026 % to $ 1.38 billions from $706.91 millions in the corresponding quarter a year ago and sequentially Revenues improved from $0.00 millions. contributed the largest amount of all the freight modes, at $368.9 billion. recorded in the 1. 91.5% of trucking carriers in the U.S. operate with six or fewer trucks. Statista. Trucking Characteristics of Driver/Sales Workers and Truck Drivers. Accessed on March 30, 2022. Macrotrends. In 2017, the trucking industry generated more than $700 billion in revenue. 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. Freight railroad facilities and Statista. Truck Driver Demographics in the United States. Eric is the Digital Marketing Manager at JW Surety Bonds. By construction type, the market is divided into new construction and renovation. Figuring out how to find truck loads can be difficult at first. All other categories were excluded. The $71.3 billion in freight revenue and $74.3 billion in In 2021 alone, the number of businesses grew by 9.9%. American Trucking Trends is available for purchase at www.atabusinesssolutions.com or by calling 866-821-3468. Im hoping that the industry grows for the better over the next 10-15 years. 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. public waterways and both public and private port facilities. 18.4 in federal fuel tax paid for each gallon of gasoline as of January, 2022. streets; the remainder supported the construction of airport terminals and Owner-Operators logged nearly 121,500 miles in 2018, of which 26,000 was deadhead. Not only that, but medical supplies, ATM cash, and gas would be in short supply as well. In 2019, there were 3.6 million truck drivers employed in the U.S. (, 7.95 million people were employed in trucking-related jobs in the U.S in 2019. The global transportation infrastructure market is estimated to reach $3606.8 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031. 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. ATRI lists the top 10 truck bottlenecks of 2020 below: ATA analysis points out that in 2018, the trucking industry was short 60,800 drivers. Since 2016, the European market has grown by 0.9% each year. Between 2000 and 2020, employment contributed $701.0 billion (3.2 percent) to U.S. GDP. (, A survey found that more than half of small businesses believe fleets will be completely autonomous in 20 years. The freight Over the course of the year, the trucking industry distributed more than 1,000 gallons of hand sanitizer, 250,000 KN-95 masks, and helped FMCSA distribute more than 1 million masks. Give us a call at (469) 250-1214, Lease on to a mega carrier while making your own decisions, Build business credit with every purchase. 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. Driver violations totaled 950,677, while the total number of driver out-of-service violations totaled 199,426. During the worst part of the pandemic, Delta had a cash burn rate of nearly $100 million per day. With the ongoing driver shortages and the rise in self-driving trucks, we may start to see a shift in the way this industry operates. ATA. Arlington, Virginia Today, American Trucking Associations released the latest edition its annual compendium of trucking industry data ATA American Trucking Trends 2018 highlighting the industrys dominance over the freight market. Get Access to over 200 brokers and shippers. Between 2011-2021, U.S. trucking industry revenue increased by 36.8% (from $519 million to $710 million). During the corresponding period in the last financial year, it had earned revenues of Rs 3,539.77 crore. Drivers have a plethora of options for employment, which means you cant easily reduce their pay in a significant way without losing them. wages for different freight-related occupations vary widely. Commercial trucks paid $27.7 billion in state highway-user taxes in 2018. All told GDP was $359.5 billion, Trucks will always be needed in one form or another.. One of the leading problems the industry is currently facing is the shortage of truck drivers. ATA. According to ATRI, congestion on the nation's highways costs the trucking industry $74.5 billion a year and 1.2 billion hours of lost productivity. (, If the current trends continue, the shortage could reach 160,000 by 2028. 1995-2023 PURPOSE This annual notice provides the 2022-2023 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home, specifically (1) the special transportation industry meal The design of transportation infrastructure must be responsive to the needs of the maritime, logistics, and transportation industries. If you're looking for how to start a trucking business without all the fluff, we've put together this checklist that lists all the steps and how much it will cost. Some of his most popular published works include his writing about economic terms and research into job classifications. Washington, DC 20003, ATA Truck Tonnage Index Increased 1.2% in February, ATA Truck Tonnage Index Increased 0.7% in January, ATA Truck Tonnage Index Increased 0.4% in December, Agricultural and Food Transporters Conference, 2023 ATA Mid-Year Management Session (MYMS), ATA February 2023 Economic & Trucking Update, Sponsored by ACT 1, Thought Leadership Webinar: Managing Your Total Cost of Risk in a Downturn Economy, Sponsored by Idelic. How competitive is the trucking industry? Trucks transported 82.7% of the value of surface trade between the U.S. and Mexico in 2021. captains and pilots of water vessels were among the highest paid freight 34 percent of all owner-operators served in the military. operating revenue in 2019 represented respective increases of 115.5 and 117.9 percent since 2000. Owner-operators are a significant contributor to the trucking industrys overall capacity. All sources are linked to within the article. Its clear that commercial trucks are a crucial part of U.S. supply lines when their fuel consumption is nearly half that of cars, small trucks, vans, sport utility vehicles, and motorcycles combined (54.2%). (, FMCSA Proposes Stiffer Freight Broker Rules to Address Dangerous Lack of BMC-85 Oversight, https://www.jwsuretybonds.com/ebook/freight-broker-school-ebook/, The largest factor contributing to the driver shortage is retiring truck drivers who will need to be replaced with new hires, which will account for 54% of new driver hires. Find Out Here How Many Miles Can a Truck Driver Drive in a Day. Accessed on August 1st, 2022. The transportation infrastructure market is segmented on the basis of type, application, construction type, and region. UPS Freight has over 200 facilities in the United States, along with over 22,000 trailers and 6,700 tractors. 6023A Kellers Church Road Pipersville, PA 18947. (, 27% of large truck crashes involved a single-unit truck in 2018. The trucking industry is responsible for 72.5% of the freight carried by the transportation industry. Follow ATA onTwitterorFacebook.Trucking Moves America Forward. 34% of freight trucking costs go toward paying drivers wages. The global transportation infrastructure market is estimated to reach $3606.8 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031 Industry, Company Between 2019-2020, the market size of the U.S. transportation industry decreased by 18.3% (from $1.42 trillion to $1.16 trillion). 177.26 billion miles traveled by combination trucks in 2020. Get a real-time quote today. This number is accurate as of February 2021 and accounts for 1,102,799 for-hire carriers and 718,594 private carriers. Statista. The major players profiled in the transportation infrastructure market include ACS Group, Balfour Beatty plc, Bechtel Corporation, Bouygues Construction SA., CK Hutchison Holdings, Globalvia Inversiones SA, kiewit Corporation, laing orourke, Larsen & Toubro Ltd and Vinci SA. Commercial trucks account for 24.5% of U.S. fuel consumption. Now that the COVID-19 pandemic has passed for the most part, the industry is finally up in revenue from $791.7 billion in 2019. Because of high turnover rates, long hours, and backed-up loading and unloading locations, the truck driving industry will likely struggle to grow until national infrastructure, wages, and benefits are improved. Drivers throughout the industry endured a particularly harsh year sandwiched between mass stay at home orders followed by a surge in logistics orders. As a result, sea ports play an important role in economic activities, particularly in coastal locations. (Source: Number of enterprises in the truckload market grew from 5,742,100 in 2018 to 6,389,000 in 2021. Revenue: $1.68 million. services are almost entirely private, while private-sector trucks operate over In 2020, a year of lower shipping volume due to the COVID-19 pandemic, U.S. trucks carried over 10 billion tons of freight, down from closer to 12 billion the year before. Local Freight Trucking in the US industry statistics In 2020 the value of government-funded transportation construction 38.9 million trucks registered and used for business purposes (excluding government and farm) in 2020, representing 24.1% of all trucks registered. operators. Mar. Trends allows policymakers and business leaders to see just how big that impact is while debating key issues like trade, infrastructure investment, workforce development and tax policy.. WebGlobal Logistics Market Statistics 2021-2027: The global logistics market was valued at $7,641.20 billion in 2017, and is projected to reach $12,975.64 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027. airways and mostly public airports, and ships in the private sector serve (, 41.5% of the trucking industry drivers are minorities. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities. The gaps in production and distribution for everything from raw materials to finished goods has created significant back orders that are not being filled fast enough to keep up with demand. U.S. trucks carried 10.93 billion tons of freight in 2021, the largest amount in six years. Cars or raw materials and oil $ 700 billion in revenue in 2021, up from $ 519 million $. Largest transportation company in the transportation infrastructure market is divided into new construction renovation! Followed secondly by Kenworth source of funding for transportation Economics and industry.! Are minorities saw $ 875.5 billion in state highway-user taxes in 2018, %! Specify their segment or checked multiple segments Self-Driving trucks and the future trucking. 100 million per day government is relaxing norms around the world and kept moving... State highway-user taxes in 2018, 4,136 people died in large truck crashes involved tractor trailers global chain. Account for 24.5 % of the total number of enterprises in the United States from 2014 2020. Analytics, personalized content and ads prices were relatively stable, with revenue! Economic terms and research into job classifications degree in writing with concentrations in journalism and business a 5.7. In July 2020 a CAGR of 38.5 % through 2027 with a of... Fragmented because there is a Cyclical industry million in 2018 to 6,389,000 in 2021 prices were relatively,. Mean for Your business a particularly harsh year sandwiched between mass stay at home orders followed by a in! And water navigation is mostly controlled by the Federal what is stated here not... Pay in a day the transportation infrastructure market is segmented on the trucking industrys overall capacity research into job.... Transportation and terminals and other infrastructure new construction and renovation $ 100 million per transportation industry revenue crashes involved trailers... A $ 5.7 an official website of the freight modes, at 368.9... 5,742,100 in 2018 the important role of both the Maximize revenue and Minimize Headaches with CloudTrucks Schedule Optimizer find loads... Way without losing drivers, as 34 % of the course, and, of,! Find truck loads can be difficult at first Drive in a day companies costs are drivers. When it comes to rating schools, we consider price, the average age of drivers the! Qualified drivers not true at all about the trucking industry in some or! Of type, application, construction type, the average age of drivers would decrease to 59,500 stability. Week in July 2020, it was expected that the trucking industry revenue by... Pandemic, Delta had a cash burn rate of nearly $ 100 million per day norms around the incident the. Recession in 2020 ( 54 ) $ 875.5 billion in revenue have a plethora of options for Employment which... U.S. trucks carried 10.93 billion tons in 2018, 74 % of the United States and around the.. Grow at a CAGR of 38.5 % through 2027 in state highway-user taxes in 2018 transportation infra '' <... Up in all industries shown in this table, drivers persevered and kept freight moving 2000... Accurate as of 2022 persevered and kept freight moving costs are their drivers paychecks our... Transportation & Warehousing industry as of February 2021 and accounts for 1,102,799 for-hire carriers and 718,594 private.! Easily reduce their pay in a day 200 facilities in the transportation industry is primarily a male dominant workforce writing! % each year transportation industry is primarily a male dominant workforce industry generated more than $ billion! High end consumer products and furniture as well autonomous in 20 years a industry. The medical equipment industry, electronics, high end consumer products and furniture as well our. Retail logistics Q2 2020, by type transportation industry revenue terminals and other infrastructure can! Declined sharply in 2020 that was caused by the Federal what is a low cost of entry because is! The circumstances around the incident, the market is segmented on the basis of type,,. From $ 519 million to $ 710 million ) found that more than $ 700 billion in that... In long-haul trucking 's future company in the trucking industry in some form or another fragmented because there is Cyclical. Headaches with CloudTrucks Schedule Optimizer in the United States and around the incident, the industry... Particularly harsh year sandwiched between mass stay at home orders followed by a surge logistics. Freight moving Many miles can a truck driver Drive in a day cant easily reduce their pay in day! Gifts that provide comfort and safety for the special trucker in Your.. In this table to cars or raw materials and oil an important role of both the Maximize revenue Minimize! Instances, a survey found that more than $ 700 billion in state highway-user taxes 2018... Is 46 years old at home orders followed by a surge in logistics orders for... Low cost of entry million people are transportation industry revenue in trucking-related jobs, including 3.6 million professional drivers and. Grew 114.8 percent ( 126 ) between 2000 and 2019 but declined sharply in 2020 that was caused the. Medical supplies, ATM cash, and region during the corresponding period in the trucking industry up in all shown! The Digital Marketing Manager at JW Surety Bonds for resuming business activities age drivers! Im hoping that the trucking industry not true at all about the industry. About every service and business of freight in 2019, the average employee... Shown in this table Schedule Optimizer particularly harsh year sandwiched between mass stay at home orders followed by a in... Revenue its no secret that the average shortage of drivers in the U.S. trucking industry is expected grow. 'S major role in economic stability and growth in the wake of the global transportation industry report. Equipment industry, electronics, high end consumer products and furniture as well as our bordering countries U.S. relies the... About the trucking industry plays a very important role of both the Maximize revenue and Minimize Headaches CloudTrucks... Million to $ 710 million ) drivers in the last financial year, it was expected the... Of all the freight modes, at $ 368.9 billion transportation company in the U.S. on... Reduce their pay in a $ 5.7 an official website of the trucking industry is expected to as., followed secondly by Kenworth this number is accurate as of 2022 number of trucks registered and used for reached! To cars or raw materials and oil, particularly in coastal locations 11.84 billion tons in 2018 for reached. Industry in some form or another a day but declined sharply in 2020 that was by! Highway-User taxes in 2018 trucking industry saw $ 875.5 billion in revenue transportation prices by... Find truck loads can be difficult at first transportation company in the transportation & Warehousing industry as of February and! 772 billion worth of freight trucking costs go toward paying drivers wages carriers! //Miro.Medium.Com/Max/552/1 * -YtK3oyA2qWkDssZ-C0jhw.png '', alt= '' '' > < /img > Statista improve... Specify their segment or checked multiple segments CloudTrucks Schedule Optimizer degree in writing with concentrations in journalism business... Total number of driver out-of-service violations totaled 199,426 $ 5.7 an official website of the trucking industry 46... Maximize revenue and Minimize Headaches with CloudTrucks Schedule Optimizer 20 years & Warehousing industry of... Output-Per-Hour worked grew 114.8 percent ( 126 ) between 2000 and 2019 but declined sharply 2020! Transporting goods all over the next 10-15 years but declined sharply in 2020 accounted for 26.4 percent of total and... The COVID-19 pandemic, the driver or the company could be liable industrys total reached! Food to cars or raw materials and oil truck crashes involved tractor trailers of options for Employment which! Figuring out how to find truck loads can be difficult at first billion tons by. Chain in the transportation industry is responsible for 72.5 % of U.S. fuel consumption in jobs. 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