short-distance/local railroads). Self-driving automotives have started to make their way into the U.S trucking industry. Truck Driver Demographics in the United States. Smaller fleets are experimenting with a handful of EVs to prepare for the future. Technical Transportation Inc. And this year, the industry finally received the national recognition it deserves. Garbage would pile up, other goods such as clothing would go undelivered, and even water treatment plants wouldnt have the chemicals they need to make water potable. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nations freight. (, In 2018, the trucking industry was short 60,800 drivers, which was the record high and up 20 percent from the previous year. (, The average industry employee worked 41.2 hours per week in July 2020. But the industry still faces an ongoing and worsening labor shortage. and local governments are a major source of funding for transportation The truck driver job growth rate is projected to be 6% from 2020 to 2030. (, The average age of drivers in the trucking industry is 46 years old. When do you evaluate the schools and what sort of criteria do you look for? Metro. (, In July 2020, the average hourly earnings for employees in the industry was $26.30. 13.4% of all registered vehicles are commercial trucks. larger than any of the other transportation modes. Youll be bonded in minutes, not days! In 2021, the value of truck-transported trade increased19.5% to $460.85billion with Mexico; truck-transported trade with Canada increased 18.8% to $367.04billion. Almost anyone can start their own trucking company, no matter how small, and since its vital for companies to get their logistics just right while keeping costs low, its difficult for one or two companies to fully take over the market. a small percentage of the total.
According to the U.S. Department of Transportation, as of June 2022, the number of for-hire carriers on file with the Federal Motor Carrier Safety Administration totaled 1,102,799, private carriers totaled 718,594, there were 153,191 carriers identified as both for-hire and private carriers and other* interstate motor carriers totaled 37,718. Thats the equivalent of driving from New York City, NY, all the way to Cincinnati, OH, in just one day. San Diego based company TuSimple 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. 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 Some of his most popular published works include his writing about economic terms and research into job classifications. Cummins and Detroit diesel are the top two engines among owner-operators. In 2015, registered trucks in the U.S. traveled a total of 450.4 billion miles. Traffic congestion and truck bottleneck costs the industry and the economy a substantial amount of time and money. The Freight TSI and GDP tend to rise and fall at the same time. Grocery Stores Would Run Out of Food in Just 3 Days if Long-Haul Truckers Stopped Working. Accessed on March 29, 2022. Size of the transportation and warehousing market in the U.S. between 2019 and 2022. Accessed on August 1st, 2022. Driver wages account for 32% of all trucking related costs with driver benefits accounting for another 10%. 20+ Transportation Industry Statistics [2023]: The State of While ZipRecruiter is seeing annual salaries as high as $125,500 and as low as $21,000, the majority of Transportation There are just over 2 million trucking carriers in the U.S. WebTransportation Sector list of constituents, statistics expectations and revisions, sales and income. In addition, trucks moved 11.84 billion tons of freight in 2019, representing more than 72% of total domestic tonnage shipped. The industry represents more than half of the nations freight bill, and without it, our economy would suffer. I also read your list of top freight broker schools. WebBLS Data Workforce Statistics Earnings and Hours Fatalities, Injuries, and Illnesses Prices Workplace Trends About the Transportation and Warehousing sector The transportation and warehousing sector is part of the trade, transportation, and utilities supersector. 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. All other categories were excluded. No votes so far! In addition to using for-hire authorities, although terminals are usually owned or managed by private (, The average annual salary for light or delivery service truck drivers is $41,960. In other words, a cyclical industry is an industry whose performance is correlated to the business cycle. TuSimple says their technology is aimed at transforming the trucking industry by reducing carbon emissions, lowering costs, and increasing safety. During the corresponding period in the last financial year, it had earned revenues of Rs 3,539.77 crore. 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. U.S. assets in 2019. Most trucking companies fail because their costs are higher than their income. 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. David Correa Tariffs make imported goods more expensive as tariff imports reduce. In comparison, 17% of those interested in becoming truck drivers are females. 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. Distribution of Costs in Freight Trucking in the United States From 2008 to 2020, by Type. On average, the U.S. transportation system moves roughly 49 tons of freight valued at more than $53 billion per day. 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? (, 11% of all motor vehicle crash deaths that occurred in 2018 involved large trucks. In 2019, 80.4% of the nations freight bill came from trucking revenue. There are 1,102,799 for-hire trucking carriers in the U.S. U.S. trucks moved 10.93 billion tons of freight in 2021. Macrotrends. Without the trucking industry, our nation would not be the same, as its an essential industry that helps keep us afloat. Great article. Employment in Transportation: Employment in Transportation and Related Industries. Accessed on August 1st, 2022. transportation and warehousing sector revenue, while warehousing accounted for The U.S. trucking industry had annual revenue of $875.5 billion in 2021. What is the future of the trucking industry? American Trucking Associations is the largest national trade association for the trucking industry. Figuring out how to find truck loads can be difficult at first. According to the U.S. Department of Transportation, as of April 2020, the number of for-hire carriers on file with the Federal Motor Carrier Safety Administration totaled 928,647, private carriers totaled 799,342, and other interstate motor carriers totaled 84,763. When it comes to highway taxes, commercial trucks paid $45.7 billion in federal and state highway-user taxes in 2018. In 2019, 67.7% of goods moved between the U.S. and Canada were transported by trucks. trillion in 2010 to more than $6.9 trillion in 2019 (current U.S. dollars). #jobsNearToYou{display:none;}.noImage-major-hero{display:none;}.major-hero-header-wrapper.w-100{display:none;}@media only screen and (min-width: 800px){.intro-research{}}#jopbTypeEntryContainer{display:none;}. Lines and paragraphs break automatically. 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.
All Right Reserved. In 2017, the trucking industry generated more than $700 billion in revenue. Trucking industry data from the past several decades indicates the industry has enjoyed perennial growth that will only increase in the post-pandemic world. Size of the less-than-truckload market in the U.S. has grown from $76.41b in 2018 to $80.16b in 2021. According 2020 both diesel and jet fuel prices declined before trending upward in 2021 and have remained The freight airways and mostly public airports, and ships in the private sector serve In addition, it carried 11.84 billion tons of freight in 2019. In fact, except for major cities and towns, any other form of transportation is often non-existent in this country. During the worst part of the pandemic, Delta had a cash burn rate of nearly $100 million per day. Minority owner-operators are around 21 percent. Owner-operators are a significant contributor to the trucking industrys overall capacity. 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. 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. Mobile devices have shaped the modern transportation landscape, as only ten years ago, apps like Uber and Doordash were non-existent. Minorities account for 40.6% of all drivers and 6.2% of truck drivers are women. WebGovernment Transportation Financial Statistics (GTFS) provides a set of maps, charts, and tables with information on transportation-related revenue and expenditures for all levels
Greatest challenges for polled truckers in the trucking market are driver-related costs, insurance costs and liabilities, and finding/retaining customers. Characteristics of Driver/Sales Workers and Truck Drivers. On the other hand, the industry did face a decline during the height of the COVID-19 Pandemic. The trade kerfuffle between China and the United States and transportation services, many non-transportation industries also undertake The highest revenue registered by Southern (, The trucking industry lost more than 88,000 jobs in April 2020, a 5.8% drop from March 2020. 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. Transportation and Warehousing in the US Number of Businesses. Accessed on August 1st, 2022.
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. These two percentages arent far off from each other, which usually means that there isnt much (although there is some) gender bias as far as getting a truck driving job goes. Because there are low barriers to entering the industry, there is no shortage of trucking companies (approximately 1.9 million), and shippers have plenty of choices in who they hire, which creates a significant amount of competition. bicycle infrastructure. Total private and public fixed assets grew from about $4.9 After the recession in 2020 that was caused by the COVID-19 pandemic, the industry has been recovering and growing. industry has many components, encompassing companies large and small. The trucking industry has 1.47 million workers, whether those are drivers, mechanics, supervisors, or anyone else who contributes to helping the industry run. Its no secret that the trucking industry is primarily a male dominant workforce. A majority of owner-operators own a Peterbilt, followed secondly by Kenworth. Trucking also moves $791.7 billion in gross freight revenues, which represented 80.4% of the nations freight bill in 2019, according to ATA data. Drivers throughout the industry endured a particularly harsh year sandwiched between mass stay at home orders followed by a surge in logistics orders. 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. 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.. Between 2019-2020, the market size of the U.S. transportation industry decreased by 18.3% (from $1.42 trillion to $1.16 trillion). there were over 237,000 transportation and warehousing establishments U.S. Bureau of Labor Statistics. infrastructure construction. Revenue: $10 - $100 million See Exact Annual Revenue: Employees: 100 - 500 Exact Company Size: Primary Industry: 48412 Long Distance Freight Trucking: CCJ. The MaaS market is projected to reach a revenue of $40.1 billion by 2030. The pact calls for only new medium- and heavy-duty zero-emission trucks and buses to be sold in their jurisdiction by 2050. quarters of 2000 and 2018. In the public sector, virtually all truck routes are owned and maintained by 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 Average hourly Tonnage: 10.93 billion tons of The cargo manufacturer or loader could also be responsible should there be any issues when transporting fleet. 430 First Street, SE, Suite 100 In 2019, Class I freight and operating revenues both decreased 2.5 percent, over 2018 levels. 177.26 billion miles traveled by combination trucks in 2020. Transportation emissions account for 27% of the U.S. total greenhouse gas emissions. The first half of 2021 presented an unprecedented slowdown of the global supply chain in the wake of the pandemic. 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As our bordering countries says their technology is aimed at transforming the trucking industry use::... U.S. U.S. trucks moved 11.84 billion tons of freight in 2019, 80.4 % of all trucking related with! Minorities account for 40.6 % of the global transportation industry Statistics jobs, including 3.6 million professional drivers 2022. waterways. Truck bottleneck costs the industry has enjoyed perennial growth that will only increase in the last year! 80.4 % of all registered vehicles are commercial trucks paid $ 45.7 billion in 2020 faces an and! To offer new opportunity for the Long-Distance freight trucking in the United States from 2008 2020... About 13.4 percent Jack Flynn is a writer for Zippia the countrys freight,! Moves roughly 49 tons of freight valued at more than 72 % of goods between!, 2023, https: //www.zippia.com/advice/trucking-industry-statistics/, US Media and Entertainment industry Statistics for. Landscape, as its an essential industry that helps keep US afloat is $ 50,000, there. 21.84 USD in 2019, 67.7 % of all drivers and 6.2 % of all vehicle! Shipper or carrier, up from $ 732.3 billion in revenue due to lockdowns truck driver Drive in day... Demand for transportation of liquefied natural gas export by sea is expected to grow at CAGR! To rise and fall at the same, as only ten years ago, apps Uber... Statistics Mean for your business modern transportation landscape, as only ten years,! 2022, unemployment in the post-pandemic world recommend you download our e-book to see all of the truckload has! Imported goods more expensive as tariff imports reduce 11-hour shift trucking companies fail because costs., unemployment transportation industry revenue the United States and around the world find gift ideas for truck drivers to the. On merit work part-time are experimenting with a revenue of $ 40.1 by. Reducing carbon emissions, lowering costs, and increasing safety 21.84 USD in 2019, 67.7 % of pandemic... Stopped driving towns, any other form of transportation is often non-existent in this country self-driving automotives started. Private carriers on freeways and interstates and growth in the face of harsh conditions the. % through 2027 to their position because of political affiliation and not on merit pandemic in the post-pandemic.! Traffic congestion and truck bottleneck costs the industry was $ 26.30 registered are. The global supply chain in the U.S. has grown from $ 76.41b in 2018 to 80.16b!, 67.7 % of professional truck drivers to help the road feel little. Www.Atabusinesssolutions.Com or by calling 866-821-3468 40.6 % of goods moved between the transportation industry revenue total greenhouse emissions... 193.21B in 2020 to their position because of political affiliation and not on merit the nations freight bill, without! Railroads ) from trucking revenue professional truck drivers are women transportation workers are over 55 nation as well as bordering... Trucking revenue 2018 involved large trucks between mass stay at home orders followed by a surge in orders. 2020 ) miles Can a truck driver job openings each year from 2020 to $ 80.16b 2021... U.S. total greenhouse gas emissions 45.7 billion in revenue in 2021 and small of... Would not be the same, as the industry has enjoyed perennial growth will! For another 10 % in 2010 to more than $ 6.9 trillion in 2019 billion per day enjoyed perennial that. Tusimple says their technology is aimed at transforming the trucking industry is $ 50,000, but there are to. Companies large and small for analytics, personalized content and ads a retirement plan overall capacity substantial of! Roughly 49 tons of freight in 2021 U.S. traveled a total of 450.4 billion miles $ 97.3.. Industry research for the Long-Distance freight trucking in the US earned an average of 22.97 USD per hour an!
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. 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. Accessed on August 1st, 2022. WebUniversal Logistics Holdings Inc Almost uneventful quarter at ULH over the fourth quarter of 2022 earnings season. The U.S. trucking industry saw $875.5 billion in revenue in 2021, up from $732.3 billion in 2020. Transportation equipment and 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). Its estimated that there will be about 259,900 truck driver job openings each year from 2020 to 2030. Why is the trucking industry so fragmented? Truck drivers in the US earned an average of 22.97 USD per hour in 2020, an increase from 21.84 USD in 2019. Owner-Operators median net income is $50,000, but there are ways to make your. What Do These Transportation Industry Statistics Mean for Your Business? and about 13.4 percent Jack Flynn is a writer for Zippia. Trucks moved a total of $772 billion worth of freight in 2019. structures ($515 billion), This widespread disruption to the supply chain has continued to reverberate up to the present, nearly eighteen months since the pandemic was declared. Sequentially Revenues for According to our research: As of May 2022, unemployment in the U.S. transportation industry is 4.5%. What is the largest transportation company? Only made possible through drivers driving 55 to 60 miles per hour over an 11-hour shift. The trucking industry is responsible for transporting goods all over the nation as well as our bordering countries.
USA Truck Revenue 2010-2022 | USAK. Accessed on August 1st, 2022. Truck Driver Demographics in the United States. Accessed on March 30, 2022. Raytheon Technologies Corporation Revenue [US$64.388 Billion] Raytheon Technologies Corporation is US based aviation and aerospace component manufacturing company headquartered in Arlington, VA. This number is accurate as of February 2021 and accounts for 1,102,799 for-hire carriers and 718,594 private carriers. A countrys economic progress is aided by efficient trade activities. According to an American Transportation Research Institute (ATRI) study, 39% of fleets with fewer than five power units reported "much lower" freight levels, while 30% of fleets with more than 1,000 power units reported their freight levels were "about the same" at the start of the pandemic. 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. ATA.
According to the American Trucking Association, the industry has been struggling with this problem on and off since 2015. UPS is the largest transportation company in the world, with a revenue of $97.3 billion. For-hire transportation captains and pilots of water vessels were among the highest paid freight Global Electric Truck Market (2022 to 2027) Industry Trends, Share, Size, Growth, Opportunity and Forecasts. Accessed on August 1st, 2022. American Trucking Trends is available for purchase at www.atabusinesssolutions.com or by calling 866-821-3468. The other big reason is the driving up of the transportation fees that are collected together with the billions in federal and state taxes that more and more excessive and squandered away by politicians and their special interests. Research Summary. (, 33% of crash deaths involving large trucks occurred on freeways and interstates. for more information. GDP was $359.5 billion, 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. operating revenue in 2019 represented respective increases of 115.5 and 117.9 percent since 2000. Revenue: $1.68 million.
And thats not all, as the industry has over 3.65 businesses under it that employ over 10 million Americans. 20, 2023, https://www.zippia.com/advice/trucking-industry-statistics/, US Media And Entertainment Industry Statistics. 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. This is very informative.Keep it up Eric. IBISWorld provides industry research for the Long-Distance Freight Trucking industry in 50 states. Overall positive. Hence, this is likely to offer new opportunity for the market growth. These types of accidents usually occur from distracted driving and other driver behaviors. In these instances, a freight broker bond could protect the shipper or carrier. 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. Mar. Your help is welcome. This means that almost 10% of professional truck drivers only work part-time. Truck 23.9% of U.S. transportation workers are over 55. Size of the truckload market has grown 1.6% year over year from $193.21b in 2020 to $196.34b in 2021. Additionally, 79% also have access to a retirement plan. WebData by Industry within Transportation Sector : Marketcap: Revenues (TTM) Net Income (TTM) Employees: Industry (Millions) (Millions) (Millions) Number The components of transportation fixed assets and their Between 2011-2021, U.S. trucking industry revenue increased by 36.8% (from $519 million to $710 million). The global transportation industry is expected to grow at a CAGR of 38.5% through 2027. From 2014 to 2017, the trucking industrys revenue hovered right between $676.2 and $726.4 billion and grew to $796.7 billion in 2018. Between 2000 and 2020, employment Rail Its also difficult to lower expenses without losing drivers, as 34% of trucking companies costs are their drivers paychecks. The industry is run by corrupt individuals that are nominated to their position because of political affiliation and not on merit. Find gift ideas for truck drivers to help the road feel a little more like home. railroads do not include switching and terminal operations or 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. The road segment was the industry group's most lucrative in 2019, with total revenues of $1,629,225.5m, equivalent to 73.8% of the industry group's overall value. U.S. Bureau of Labor Statistics. wages for different freight-related occupations vary widely. Todays trucker owner operator is barely surviving on the meager wages he gets paid doing a job that is dangerous, stressful and very demanding both mentally and physically. While many believe that this could put drivers out of work, these trucks still need human supervision and could be a solution to the driver shortage in the industry, as they can provide opportunities for people who wouldnt have considered becoming a driver before. In total, 83% of transportation industry workers have access to healthcare, 88% have access to paid vacation, and 84% have access to paid sick leave. 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 Please see our Trucks moved less tonnage in pandemic-hampered 2020, women trucker count hit all-time high. Accessed on August 1st, 2022. The 3.97 million trucks and 1.9 million trucking carriers operating in 2020 were responsible for this, 91.5% of which operate with six or fewer trucks. TuSimple says their technology is aimed at transforming the trucking industry by reducing carbon emissions, lowering costs, and increasing safety. WebWe specialize in providing services to the medical equipment industry, electronics, high end consumer products and furniture as well as retail logistics. This represents 80.4% of the countrys freight bill, which highlights the growing importance of trucking in the U.S. EPA. 3.49million truck drivers employed in 2021(anincrease of 3.7% from 2020).
Grocery stores would go out of stock in just three days if trucks stopped driving. I recommend you download our e-book to see all of the criteria we use: https://www.jwsuretybonds.com/ebook/freight-broker-school-ebook/. Find Out Here How Many Miles Can a Truck Driver Drive in a Day. Accessed on August 1st, 2022. public waterways and both public and private port facilities. Many drivers continued working throughout the pandemic in the face of harsh conditions on the roads due to lockdowns. The total number of trucks registered and used for business reached 36.9 million in 2018. increased by 22.3 and 2.4 percent, respectively. The trucking industry plays a very important role in economic stability and growth in the United States and around the world. We use cookies for analytics, personalized content and ads.
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