53+ US Trucking Industry Statistics (Oct 2024)

This article provides latest trucking industry statistics such as market size, largest trucking companies, trucker salaries, and demographics, etc.

Sourced from reliable resources like U.S Bureau of Transportation Statistics, American Trucking Association, Indeed, and more. Also, check fleet management statistics.

Trucking Industry Market Size?

Trucks moved nearly 73% of the nation’s freight in 2022, over eight times more than railroads, accounting for over 80% of freight expenses. The U.S. trucking market reached $217.3 billion, projected to grow to over $250 billion by 2027. Globally, the market is even larger, estimated at $2.2 trillion in 2022 and expected to reach $3.4 trillion by 2030.

Freight Dominance: ~72.6% of the nation’s freight by weight (2022).
Freight Spending: 80.7% of U.S. freight costs, totaling $940.8 billion (2022).
North American Trade: $948 billion in goods moved via trucks (2022).
US Market Size: $217.3 billion (2022), projected 3.0% CAGR through 2027.
Global Market Size: $2.2 trillion (2022), projected 5.4% CAGR through 2030.
Commercial Trucks: At least 12.5 million in the U.S.
Freight Volume (U.S.): 73% of total freight value, 65% of total freight weight. 8.5 times more freight than railroads (2020).
Top Commodities: Mixed freight, motorized vehicles, electronics, and machinery.
2023 Revenue (Preliminary): $987 billion.
2023 Tonnage (Preliminary): 11.18 billion tons.

Largest Trucking Companies (by 2023 Revenue)

UPS: $100.3 billion
FedEx: $93.5 billion
J.B. Hunt Transport Service: $14.8 billion
XPO Logistics: $7.7 billion
Landstar System: $7.4 billion
Swift Logistics: $7.4 billion
Schneider National: $6.6 billion
YRC Worldwide: $6.5 billion
Old Dominion Freight Line: $6.3 billion
ARCBEST: $5.3 billion

How Many Trucks are on the Road?

95.8% of trucking companies operate 10 or fewer trucks, while less than 0.5% operate over 100. Despite this, giants like UPS and FedEx lead in revenue. As of March 2024, over 577,000 active motor carriers were registered. Thousands of freight brokers and for-hire carriers keep goods moving across the country.

Company Size: 95.8% operate 10 or fewer trucks; 99.7% operate 100 or fewer (2022).
For-Hire Carriers: 475,371 (July 2023).
Active Motor Carriers (March 2024): Over 577,000.

How Much Do Truck Drivers Make in USA?

Heavy and tractor-trailer truck drivers earned a mean annual wage of $55,990 in 2023, while light truck drivers earned $46,090. Earnings can vary based on experience, type of vehicle, and employment status (company driver vs. owner-operator).

Average Truck Driver Salary (2023):
- Heavy/Tractor-Trailer: $55,990.
- Light/Delivery: $46,090.
Hourly Earnings (August 2023): $29.26.
Average Workweek (August 2023): 40.4 hours.

How Many Truck Drivers Are There in USA?

In 2023, 3.55 million truck drivers were employed in the U.S., a slight increase from 3.54 million in 2022. Women make up 12.1% of professional drivers, while minorities represent 45.6%. The average truck driver is 47 years old.

Total Truck Drivers: 3.54 million (2022), 3.55 million (2023).
Women Drivers: 8.1% of truckers (2022), 12.1% of professional drivers.
Minority Drivers: 45.6% (2022).
Average Driver Age: 47.

Owner-Operators in Trucking Statistics

Owner-operators are self-employed truck drivers. They often operate as small businesses and contribute significantly to the overall number of truck drivers. In 2022, 1.7 million out of 3.5 million truckers were owner-operators, with an average net income of $63,114 (down 9% from 2022).

Number of Owner-Operators: 1.7 million (out of 3.5 million total truckers in 2022).
Long-Distance Owner-Operators: 351,000.
Average Age: 59 years old (2022).
Military Veterans: 32% (2022 survey).
Average Net Income: $63,114 (July 2023), down 9% from 2022.

Women in Trucking Statistics

Only 12.1% of professional drivers are women, but this number is increasing. Women are entering the trucking industry at a higher rate than in the past, with 83% encouraged by friends or family. Over 55% of truckers believe trucking is a safe industry for women, but underreporting of harassment incidents remains a significant issue.

Reporting: About half of harassment incidents go unreported.
Common Locations: Truck stops, pickup/delivery points, fueling stations.
Harassment Policies: 37% of drivers report their company doesn’t have one or they are unaware of it.

How Many Truckers Travel with Pets?

Over half of U.S. truck drivers travel with pets, often for emotional support. Many drivers consider pet companionship essential to their well-being on the road.

Drivers with Pets: 56%.
Owner-Operators with Pets for Emotional Support: 50%.

Trucking Costs Statistics

Trucking costs reached a 15-year high in 2021 at $1.855 per mile. In 2022, the average operating cost per mile increased to $2.38. Driver wages and fuel represent the largest portions of these expenses.

Cost per Mile (2021): $1.855 (15-year high).
Cost per Mile (2022): $2.38.
Largest Cost Factors (2022): Driver wages (32%), fuel (28%).
Other Costs (2022): Driver benefits (8%).
Sitting Truck Cost (Estimate): $500-$1,500 per day, per truck.
Fuel Tax (2022): $36.48 billion paid by commercial trucks.

Freight Brokers Statistics

Freight brokers play a crucial role, handling about 20% of all freight. However, they face challenges such as fraud and a highly competitive market. The market is projected to grow to $90.7 Billion by 2028.

Freight Handled by Brokers: 20%.
Market Size Projection (2028): $90.7 billion.
Common Fraud Concerns: Double brokering, stolen loads, identity theft, stolen payments.

Future Trends & Challenges

Technology integration, sustainability, and adapting to changing consumer demands are key trends shaping the trucking industry. Companies are increasingly relying on fleet management software and other technologies, while also focusing on green initiatives like electric trucks and cleaner fuels.

Technology: Increased reliance on fleet management software, data security, and cybersecurity.
Sustainability: Adoption of electric trucks, cleaner fuels, and emissions reduction strategies.
Growth: Measured growth predicted, with an emphasis on technology and sustainability.

High gas prices, insurance costs, driver shortages, truck parking availability, and shifting labor laws are ongoing challenges. Economic concerns and adapting to new technologies like AI also present significant hurdles.

Top Concerns (2023): Economy, truck parking availability, fuel prices.
Other Challenges: Driver shortage, insurance costs, changing regulations, decreasing freight rates, fraud, impact of AI.