The trucking industry is a major player in the US economy, responsible for transporting approximately 72.2% of all domestic freight, according to the American Trucking Association (ATA). Not only is it responsible for hauling goods such as commodities, household items, electronics, industrial equipment, food products, and more across the US., but the trucking industry also provides vital jobs to millions of Americans. It supports over 8 million jobs throughout the country, including drivers, dispatchers, and mechanics, to name a few.

With constant growth, the industry is expected to boom even more in the near future. As such, it is essential to have accurate and up-to-date statistics on the trucking industry to understand its current state, make informed decisions, and capitalize on opportunities. 

This article provides an overview of this multi-billion dollar sector using reliable statistics and insights into truckers’ importance and impact on individuals and businesses across America.

What are the Most Important Trucking Industry Statistics to Know?

Trucking contributes billions of dollars to the US economy each year by providing reliable freight transportation services at competitive prices. For this section, we will look at some of the most important trucking industry statistics to keep in mind for 2023 and beyond and discuss everything from total miles traveled by trucks to the number of jobs in the trucking industry, as well as fuel consumption. 

Market Growth and Revenue:

1. According to estimates, the total market size of the truckload industry in the US is projected to hit 212 billion dollars in 2021. This consistent upward trend is due to increasing economic demand for freight transportation in the country.
2. The annual revenue of the freight trucking industry in the US went from 791.7 billion US dollars in 2019 to a total of 732.3 billion US dollars in 2020, a decrease of nearly 60 billion.
3. In 2019, a staggering 80.4% of the country’s freight revenue was generated through trucking services.
4. In 2020, Knight-Swift Transportation took the lead in truckload services, generating 3.7 billion US dollars in revenue. J.B. Hunt came in second with 2.7 billion US dollars, also making a significant contribution to the truckload business in North America.

Registered Trucks and Carriers

1. According to the data for 2020, around 38.9 million registered trucks were utilized for commercial reasons, which accounted for 24.1% of the total truck registrations.
2. As per the US Department of Transportation, the Federal Motor Carrier Safety Administration registered 1,102,799 for-hire carriers in June 2022, highlighting a steady increase in carriers over time.

Mileage and Fuel Consumption

1. According to 2020 figures, registered trucks drove 302.14 billion miles in total, while combination trucks journeyed 177.26 billion miles over the same period.
2. In 2020, commercial trucks consumed a total of 44.8 billion gallons of fuel, with 35.8 billion gallons of diesel and 9.0 billion gallons of gasoline.
3. From 2009 to 2019, truck fuel consumption rose by 3%, while Class I freight railways saw an even greater increase in fuel use, moving from 3.2 billion gallons to 3.4 billion gallons during this period.

Employment and Number of Jobs

1. Vacancies for heavy and tractor-trailer truck drivers are expected to increase by 4% between 2021 and 2031.
2. As of 2021, an estimated 7.99 million people, excluding self-employed individuals, are employed in trucking-related industries.
3. According to ATA, the number of truck drivers employed in 2021 is 3.49 million, a 3.7 percent growth compared to 2020.
4. Although men are the predominant workforce in the trucking industry, women and minorities also play an important role. Statistics show that 6.7% of drivers are females, and 41.5% come from minority backgrounds.

Food Truck Industry Statistics & Trends to Know

Food trucks offer customers an exciting way to experience different types of cuisines affordably, as they are also becoming increasingly popular for catering events and festivals. With more and more people looking for convenient and affordable food options, the industry has grown significantly over the past few years. To help you stay on top of this rapidly growing industry, here are some key stats and trends you should know about the food truck industry.

Market Size and Growth

1. The global food truck market was valued at USD 3.93 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028.
2. The food truck industry has seen steady growth over the past few years and is expected to reach $1.5bn in revenue by 2023. Indeed, a remarkable achievement for an industry that only began a decade ago and has since become a staple of urban life.

Number of businesses

1. The food truck industry in the US has been growing over the past few years. According to recent statistics, 36,324 food truck businesses are operating in the US as of 2023, a 9.9% increase from 2022.
2. California, Texas, and Florida lead the way in the number of food truck businesses across the US. Specifically, they, respectively, have 883, 744, and 725 businesses operating within their states.
3. Since 2018, the US food truck industry has seen an average yearly increase of 9.9%, making it one of the most profitable businesses to invest in, as this trend is projected to continue in 2023.

Employment and Wages

1. Statistics show that the number of people employed in the US food truck industry will have reached 43,601 by 2023.
2. The food truck industry is booming, with total wages paid to workers reaching $408.1 million in 2023.
3. The US food truck industry has seen a steady 8.4% average growth in employment over the past five years, from 2018 to 2023.
4. Analysts anticipate that the total salary expenditures of the food truck industry will experience a 2.9% growth by 2023, reaching $408.1m.

Dump Truck Industry Statistics & Trends to Know

The dump truck industry has seen rapid growth in the past few years, driven by rising demand for efficient transportation of construction materials and other heavy loads. Therefore, staying up-to-date on the latest dump truck industry stats and trends is crucial to making informed decisions about investments in this sector. 

Market Size and Demand

1. According to a recent report, the dump truck market size surpassed USD 15 billion in 2021 and is projected to grow more than 7% from 2022 to 2030.
2. The demand for dump trucks worldwide is projected to rise at an average rate of 8.6% from 2019 to 2025, resulting in a market value of USD 72.4 billion by 2027.

Top Markets and Sectors

1. The Asia Pacific region is expected to be the largest dump truck market and grow at a compound annual growth rate of 8% from 2022 to 2030. This is partly due to several landscaping and construction projects underway in Southeast Asian countries.
2. The construction sector had the largest share of revenue in 2021. This trend is anticipated to continue as more construction operations require moving loose materials like sand, gravel, and dirt using dump trucks as an efficient transportation solution.

Market Growth and Top Competitors

1. The dump trucks market is anticipated to experience a tremendous boost in its growth due to the exploration of new coalfields and mining sites for energy production.
2. Several dump truck industry companies dominate the market, including Catepillar Inc., Komatsu Ltd., Dheere & Company, AB Volvo, and Terex Trucks.

Industrial Truck Industry Statistics & Trends to Know

The industrial truck industry has developed steadily in recent years because of the increasing demand for materials handling solutions from warehouses and other industries. Let’s look at some of the key stats and trends currently driving the growth of the industrial truck industry. 

1. In 2020, the forklift truck market was estimated at around 1.3 million units worldwide, with predictions to experience annual growth of 4.3% by 2028, reaching 1.9 million units by then. 
2. In 2020, shipments carried out by industrial trucks in the US were 283 753, reaching 333,013 shipments in 2021, with a 17% increase, according to a World Industrial Truck Statistics (WITS) report.
3. According to Industrial Truck Association (ITA) Business Trend Survey in 2018, US exports in the South American market will jump by 50% in the next few years.
4. Truck productivity was one of the key factors influencing US lift truck size reduction in 2018. 
5. The ITA Business Trend Survey reports that North American forklift shipments will utilize or feature fleet data information for industrial trucks more than operators.

Summary

Trucking is essential to the global economy, transporting everything from food to industrial goods. Understanding trucking industry statistics is key to meeting the demand and ensuring efficient operations. It also allows businesses to gain valuable insights into their operations and make informed decisions about their supply chain.

Photo by Marcin Jozwiak