This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.Wide open highway: Truckers will bring in extra revenue through fuel surcharges as diesel prices rise
The local freight trucking industry provides general freight trucking services over short distances. The industry has encountered predominantly positive conditions for both revenue and profitability over the past five years, and, although fluctuating fuel prices limited revenue growth in 2019 and 2020, surging fuel prices enabled sharp revenue growth in the remaining years, primarily in 2021. Rising consumer spending and confidence in every year except 2020 boosted manufacturing activity, which boosted demand for truckers to carry input materials and finished products. The industry's revenue growth even at the height of COVID-19 shows the crucial nature of local freight trucking services to the US economy, and revenue has increased an annualized 6.6% to $91.7 billion through the end of 2023 despite a 0.5% decline in 2023.
Operators in this industry provide general freight trucking services over short distances. General freight companies handle a variety of commodities, which are usually palletized and transported in a container or van trailer. Local general freight trucking companies commonly provide trucking within a metropolitan area that may cross state lines, and the trips are typically same-day return.
Table of Contents
ABOUT THIS INDUSTRY- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
- Industry Data
- Annual Change
- Key Ratios
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Hunt J B Transport Services Inc.
- Stevens Transport
- R&M Trucking Inc.
- Premier Freight Management Corporation
- Best Transportation Services Inc.
- JK Transport Inc.
Methodology
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