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Home > Business/Finance > Diversified Services > Shipping & Logistics
Trucking
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The US trucking industry produces annual revenue of about $165 billion, and includes about 40,000 companies and 30,000 independent contractors. Big companies include YRC Worldwide, Schneider National, Con-way, and JB Hunt. The industry also contains several dozen regional companies with revenue above $100 million. Despite strong consolidation in recent years, the industry remains fragmented: the 50 largest companies hold less than 30 percent of the market.
COMPETITIVE LANDSCAPE
Demand for trucking services is closely tied to the overall health of the economy, especially to levels of manufacturing, retail sales, and international trade. Because of the high cost of trucks, the profitability of individual companies depends on efficient operations. Large companies can best serve large customers and may have more effective marketing operations and economies of scale in buying fuel. Small companies can compete effectively by offering faster service and may also have lower costs. The industry is fairly labor-intensive: average annual revenue per employee is about $120,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
About 70 percent of industry revenue comes from long-distance trucking and 30 percent from short-haul and local trucking. The major types of trucks used are dry van, flatbed, refrigerated, bulk, and tank. The type of operation a trucker runs depends on the type of shipments handled. Some truckers handle only truckload (TL) shipments that go from a single customer to a single delivery point. Some handle only less-than-truckload (LTL) shipments that are collected into ...
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