Mobile devices have shaped the modern transportation landscape, as only ten years ago, apps like Uber and Doordash were non-existent. The majority of that freight is moved by truck. 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 Government, and safety is regulated by all levels of government. This partially explains why the industry is so massive, as companies like Uber or UPS can all be lumped into the same sector. in the air transportation industry declined by 30.0 percent. WebIn 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.

Maximize Revenue and Minimize Headaches With CloudTrucks Schedule Optimizer. (, 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. The freight Being worth at least $1.26 trillion, the industry is responsible for employing 10.68 million Americans.

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. 31.0 paid on average in state fuel tax for each gallon of gasoline as of January, 2022. CCJ.

For-hire transportation services 34% of freight trucking costs go toward paying drivers wages. for diesel and jet fuel peaked in summer 2008, followed by a sharp decline Quarter 2023 above average Revenue growth of 5.29 % year on year, Total Ranking #6 . (, The average age of drivers in the trucking industry is 46 years old. 20+ Transportation Industry Statistics [2023]: The State of Long-distance, general-freight trucking output-per-hour Driver violations totaled 950,677, while the total number of driver out-of-service violations totaled 199,426. 40+ Must-Know Trucking Industry Statistics in 2022. Lines and paragraphs break automatically. The White House. 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. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities. 10.93billion tons of freight (primary shipments only) transported by trucks in 2021, representing 72.2% of total domestic tonnage shipped. BLS. In addition to using for-hire 32.7 paid on average in state fuel tax for each gallon of diesel fuel as of January, 2022. 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, Between 2019-2020, the market size of the U.S. transportation industry decreased by 18.3% (from $1.42 trillion to $1.16 trillion). Understanding the Business Cycle Hes held a range of roles within the surety industry from agent assistant to bond issuer which gives him a unique insider perspective on surety-related topics. In 2020 ship engineers and When it comes to highway taxes, commercial trucks paid $45.7 billion in federal and state highway-user taxes in 2018. (, The average annual salary for light or delivery service truck drivers is $41,960. The MaaS market is projected to reach a revenue of $40.1 billion by 2030. Economics and Industry Data. Accessed on March 29, 2022. As a result, this aids in the development of port infrastructure. Secure .gov websites use HTTPS Many drivers continued working throughout the pandemic in the face of harsh conditions on the roads due to lockdowns. As of 2022, 10.68 million Americans work in the transportation & warehousing industry. Luckily, weve investigated all of the essential facts about American transportation, and according to our extensive research: The U.S. transportation industry is worth $1.36 trillion as of 2022.

& - https://www.alliedmarketresearch.com/request-sample/4225. 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. 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. driving is by far the largest freight transportation occupation in the United Some of his most popular published works include his writing about economic terms and research into job classifications. Trucking How big is the transportation industry in the U.S.? The U.S. trucking industry is big enough to earn $875.5 billion in revenue in 2021. Trucking represented 80.4% of the U.S.s freight cost in 2019, totalling a gross freight revenue of $791.7 billion. Revenue fell 88% during its fiscal Q2 2020, resulting in a $5.7 In April 2020, there were a total of 799,342 private carriers on file. (, The average annual wage for heavy and tractor-trailer truck drivers is $46,370. Today, however, their growth can be seen in the fact that keywords like tonight and today relating to transportation searches have increased by 519% in the past five years. Since 2016, the European market has grown by 0.9% each year. EIN Presswire's priority is source transparency. (, A survey found that more than half of small businesses believe fleets will be completely autonomous in 20 years. WebLBJ Managed Lanes Comprehensive Traffic and Toll Revenue Study. 80 M Street SE Suite 800 On average, the U.S. transportation system moves roughly 49 tons of freight valued at more than $53 billion per day. Washington, DC 20003, ATA Capitol Hill Office This number was lower than usual due to the economic recession caused by the COVID-19 pandemic.

Abby is a writer who is passionate about the power of story. A countrys economic progress is aided by efficient trade activities.

Web$875.5 billion in gross freight revenues (primary shipments only) from trucking, representing 80.8% of the nations freight bill in 2021. With this in mind, companies are starting to take driver safety more seriously to avoid any liabilities. 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. The U.S. transportation industry is big, with market size of $1.26 trillion. Between 2000 and 2020, output-per-hour Youll be bonded in minutes, not days! ATRI seeks truck driver input on legalized marijuana impacts on trucking, Kodiak to operate 24/6 autonomous freight between Dallas and Atlanta, ACT: Helter-skelter 2022 for used trucks continues in November, Yokohama releases Geolandar A/T XD work truck tire, American Transportation Research Institute.

Value of annual transportation infrastructure construction put in place, Gross domestic product (GDP) attributed to transportation by mode, Real quarterly gross domestic product (GDP) and Freight Transportation Services Index (TSI), Freight Transportation Services Index (TSI) modal data, Economic characteristics of transportation and warehousing establishments in freight-dominated modes, Economic characteristics of freight railroads, Labor productivity in select transportation industries, Employment in for-hire transportation establishments primarily serving freight, Employment in select freight transportation-related occupations, Average hourly wages in select freight transportation-related occupations, Producer Price Indices (PPI) for select transportation services. Truck Driver Demographics in the United States. Accessed on March 30, 2022. railroads do not include switching and terminal operations or 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. Get a real-time quote today. Freight transportation jobs are not limited to for-hire carriers. On the other hand, the industry did face a decline during the height of the COVID-19 Pandemic. magnitude of growth and decline often is different because GDP includes many sectors besides TSI increased by 37.1 percent while the real GDP increased 41.6 percent between the third Even though commercial trucks make up 13.7% of all registered vehicles, they paid $18 billion in federal highway-user taxes and $27.7 billion in state highway-user taxes in 2018. U.S. Trucking grew the fastest among the The industry generated $700.1 billion in annual revenue in 2017, 79.3% of the nations freight bill; The industry moved 69.1% of all trade between the U.S. and Grocery Stores Would Run Out of Food in Just 3 Days if Long-Haul Truckers Stopped Working. Accessed on March 29, 2022. 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. email us here. From 2014 to 2017, the trucking industrys revenue hovered right In addition, it carried 11.84 billion tons of freight in 2019. Trucks transported 82.7% of the value of surface trade between the U.S. and Mexico in 2021. 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. Between 2011-2021, U.S. trucking industry revenue increased by 36.8% (from $519 million to $710 million). Web page addresses and email addresses turn into links automatically. By 2025, the global self-driving truck market is expected to reach $1,699 million.

The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Greatest challenges for polled truckers in the trucking market are driver-related costs, insurance costs and liabilities, and finding/retaining customers. Google Rating: 3.8 out of 31 reviews. The interest of governments in the development of transportation services is universally strong given that these services are a major source of economic growth. Moreover, surge in demand for transportation of liquefied natural gas export by sea is expected to contribute to the transportation infrastructure market growth. Cold chain logistics providers inaugural program recognizes key service providers for high-quality service and operational excellence. Only made possible through drivers driving 55 to 60 miles per hour over an 11-hour shift. 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. freight modes measured in the TSI. It was founded in the year 1999 and produces a wide range of products, such as drones, electric airplanes, and electric aviation services. The $71.3 billion in freight revenue and $74.3 billion in Fixed transportation assets reflect the important role of both the WebTransport & Logistics Industry list of constituents, statistics expectations and revisions, sales and income. NACFE report affirms hydrogen's major role in long-haul trucking's future. What Do These Transportation Industry Statistics Mean for Your Business? How competitive is the trucking industry?

Hindustan Aeronautics Limited said on Friday it has registered highest-ever revenue from operations of around Rs 26,500 crore (provisional and unaudited) for 2022-23 as against Rs 24,620 in the previous financial year, an eight per cent growth. 6023A Kellers Church Road Pipersville, PA 18947. Fact Sheet: The Biden-Harris Administration Trucking Action Plan to Strengthen Americas Trucking Workforce. Accessed on March 30, 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. Light-duty vehicles comprised nearly 60% of GHG emissions. 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.. airways and mostly public airports, and ships in the private sector serve activities have gone up in all industries shown in this table. We use cookies for analytics, personalized content and ads. Use of energy explained. Accessed on August 1st, 2022. Statista. Truck Driver Demographics in the United States. 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. WebFreight Transportation & the Economy An official website of the United States government Here's how you know Official websites use .gov A .gov website belongs to an official 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. captains and pilots of water vessels were among the highest paid freight The average U.S. trucker drives between 605-650 miles per day. Prices 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. Updated December 27, 2022 What is a Cyclical Industry? 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. Im also hoping to continue to see more women get into the industry!. Freight trucks carry a variety of consumer goods, everything from food to cars or raw materials and oil. A majority of owner-operators own a Peterbilt, followed secondly by Kenworth. In 2017, the trucking industry generated more than $700 billion in revenue. trillion in 2010 to more than $6.9 trillion in 2019 (current U.S. dollars). 60% of online travel searches begin on mobile. Transportation and Warehousing in the US Number of Businesses. Accessed on August 1st, 2022. All rights reserved. This widespread disruption to the supply chain has continued to reverberate up to the present, nearly eighteen months since the pandemic was declared.

As Karl Moor, deputy assistant administrator for the U.S. Environmental Protection Agencys Office of Air and Radiation, pointed out during this years SmartWay Excellence Awards, there is not a family in America or business that doesnt rely on the freight industry in some way. (, 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. decline during this period. authorities, although terminals are usually owned or managed by private Sequentially Revenues for

7.95 million people are employed in trucking-related jobs, including 3.6 million professional drivers. Trucking in 2020 accounted for 26.4 percent of total transportation and 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. (, 11% of all motor vehicle crash deaths that occurred in 2018 involved large trucks. (excluding rail) in 2017, with more than one-half of those primarily engaged in Revenue Growth by Industry; Net Income Growth by Industry; Net Margin by Industry; PE by Industry; Total Debt to Equity by Industry; American Trucking Association: Trucking Moved 11.84 Billion Tons of Freight in 2019, American Trucking Association: Economics and Industry Data. In 2021, Germany was the biggest contributor to this revenue, with 133 billion. U.S. Bureau of Labor Statistics. Airports and harbors are typically owned by public 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 23.9% of U.S. transportation workers are over 55. Size of the transportation and warehousing market in the U.S. between 2019 and 2022. Accessed on August 1st, 2022. Editorial Guidelines

This year, 15 states and Washington, D.C., signed a memorandum of understanding that calls for only zero-emission commercial vehicles to be sold by 2050. trucking and truck operators that require specialized equipment, such as 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. WebWe specialize in providing services to the medical equipment industry, electronics, high end consumer products and furniture as well as retail logistics. Electrification is not solely the domain of large companies making large investments. By type, the transportation infrastructure market is fragmented into railway, airport, roads & bridges, and ports. quarters of 2000 and 2018. There also is no reason that we in the US have to pay these high fuel prices, again politics and special interests. These types of accidents usually occur from distracted driving and other driver behaviors. The ethnic and racial demographic breakdown of the U.S. truck driving workforce is as follows: The majority of truckers are between 45 and 54 years of age. Thats 25% higher than the national average of 3.6%, meaning that unemployment is noticeably more common in the U.S. transportation industry. Smaller fleets are experimenting with a handful of EVs to prepare for the future. In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, disrupted the supply chain, thereby hindering growth of the transportation infrastructure market.

Great article. During roadside inspections in 2019, FMCSA reports that the top five most frequent vehicle inspection violations were: The top five most frequent driver inspection violations in 2019 were: In 2019, the total number of driver inspections, according to FMCSA, were nearly 3.4 million. U.S. trucks carried 10.93 billion tons of freight in 2021, the largest amount in six years. WebLocal Freight Trucking in the US industry trends (2018-2023) Local Freight Trucking in the US industry outlook (2023-2028) poll Average industry growth 2023-2028: x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. The U.S. transportation sector is a combination of businesses that move anything from people to goods across the country. A digital version of the feature will be published in January. The highest revenue registered by Southern public waterways and both public and private port facilities. 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. 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. Approximately three-fourths of public sector funding went to highways and However, trucking does make up a large portion of the industry, as they account for 24.5% of all U.S. fuel consumption. public and private sectors in moving freight. and government transportation structures ($4.75 trillion). transportation services, many non-transportation industries also undertake In 2019, the trucking industry moved 11.84 billion tons of freight. MaaS Market Projected to Reach $40.1 Billion by 2030. Accessed on August 1st, 2022. The 2021-2031 job growth rate for heavy and tractor-trailer truck drivers is expected to be 4%. The electric truck market is projected to have a CAGR of 30.15% through 2027. The pandemic hit smaller fleets and owner-operators harder than their larger counterparts. Driver wages account for 32% of all trucking related costs with driver benefits accounting for another 10%. (, TuSimple says applying their self-driving technology can help save about 42 million metric tons of CO2 emissions per year. (, The average industry employee worked 41.2 hours per week in July 2020. Trucks moved 67.7% of ground freight between the U.S. and Canada and 83.1% of trade with Mexico, for a total value of goods at $772 billion; Employment is up 140,000 from the previous year with 7.95 million people employed in trucking-related jobs. This is on pace with all other U.S. occupations, but the majority of the growth will be driven by recovery from the COVID-19 pandemic in 2020. The truck driver job growth rate is projected to be 6% from 2020 to 2030. WebSECTION 1. Metro. Occupational Outlook Handbook: Heavy and Tractor-Trailer Truck Drivers. Commercial trucks account for 24.5% of U.S. fuel consumption. In March, the familiarity of daily life in the U.S. was upended when the COVID-19 pandemic ramped up in the U.S. A cyclical industry refers to an industry whose revenue generation capabilities are tied to the business cycle. This reliance on trucking by the major industries is echoed in smaller industries. Estimates of 41,000 to 45,000 traffic deaths occur every year within the U.S.. to the American Railroad Association, rail intermodal growth was due largely to