$280.0bn
$XX.Xbn
1m
616k
$XX.Xbn
The performance of long-distance freight truckers largely mirrors the US economy. Spikes in consumer spending, manufacturing output and trade volumes drive demand for the industry’s services. This correlation accounted for stagnated growth caused by COVID-19 in 2020, when a drop in manufacturing output and commodity prices led to a dip in spending on transportation needs. A sharp revival in economic activity in 2021 and 2022 amplified transportation activity. This factor and soaring fuel prices have caused revenue to soar these years. More recently, inflationary pressures and heightened energy prices have created a more costly environment, which caused consumer spending to slow down rapidly in 2023, thus hindering revenue and profit. Providers are more optimistic in 2024 as the cooling economy makes it likely that the central bank will bring down the cost of borrowing. Overall, revenue for long-distance freight trucking companies is expected to creep upward at a CAGR of 0.8% during the current period, reaching $280.0 billion in 2024. This includes a 0.3% rise in revenue in that year.
Industry revenue has grown at a CAGR of 0.8 % over the past five years, to reach an estimated $280.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Hunt J B Transport Services Inc. | 15,459.0 | 1,295.6 | 8.4 | |
Xpo Logistics, Inc. | 8,176.8 | 302.5 | 3.7 | |
Knight-Swift Transportation Holdings Inc. | 7,586.8 | 1,254.6 | 16.5 |
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Industry revenue is measured across several distinct product and services lines, including Truckload carriers, Less-than-truckload carriers and Other transportation services. Truckload carriers is the largest segment of the Long-Distance Freight Trucking in the US.
Truckload (TL) carriers dominate the industry
Companies in the industry handle various commodities, which are often palletized and transported in containers or van trailers. Players typically provide trucking between metropolitan areas and regions that may cross North American country borders. The industry includes companies operating as a truckload and less-than-truckload carriers.
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NAICS 48412 - Long-Distance Freight Trucking in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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The US Trucking Association (ATA) is self-regulating. It’s the largest and most comprehensive national trade association for the trucking industry.
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Economic conditions have severely impacted profit for long-distance freight truckers. Supply chain disruptions, diminished fuel surcharges, rising inflation and recessionary ...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Long-Distance Freight Trucking in the US industry in United States is $280.0bn in 2024.
There are 616k businesses in the Long-Distance Freight Trucking in the US industry in United States, which has grown at a CAGR of 4.9 % between 2019 and 2024.
The market size of the Long-Distance Freight Trucking in the US industry in United States has been growing at a CAGR of 0.8 % between 2019 and 2024.
Over the next five years, the Long-Distance Freight Trucking in the US industry in United States is expected to grow.
The biggest companies operating in the Long-Distance Freight Trucking market in United States are Hunt J B Transport Services Inc., Xpo Logistics, Inc. and Knight-Swift Transportation Holdings Inc.
General long-distance truckload transit and General long-distance less-than-truckload transit are part of the Long-Distance Freight Trucking in the US industry.
The company holding the most market share in United States is Hunt J B Transport Services Inc..
The level of competition is high and steady in the Long-Distance Freight Trucking in the US industry in United States.