Truckload market size in the U.S. 2018-2021 | Statista (2024)

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Truckload market size in the U.S. 2018-2021 | Statista? ›

In 2021, the total market size of the truckload industry in the United States is expected to reach over 212 billion U.S. dollars. Over the recent years, this market has experienced a continuous increase as a result of improving economic needs for inland freight transportation in the U.S.

The market size, measured by revenue, of the General Freight Trucking (Truckload) industry was $91.4bn in 2022. What was the growth rate of the General Freight Trucking (Truckload) industry in the US in 2022? The market size of the General Freight Trucking (Truckload) industry increased 9.8% in 2022.

The market size, measured by revenue, of the General Freight Trucking (Less Than Truckload) industry was $229.0bn in 2022.

The global Less Than Truckload market size was valued at USD 165000.0 million in 2021 and is expected to expand at a CAGR of 4.81% during the forecast period, reaching USD 218720.0 million by 2027. Less than truckload shipping or less than load (LTL) is the transportation of relatively small freight.

The U.S. transportation industry is worth $1.36 trillion as of 2022. Transportation emissions account for 27% of the U.S. total greenhouse gas emissions. 10.68 million Americans work in the transportation & warehousing industry as of 2022.

Trucks move roughly 72.6% of the nation's freight by weight. That is just one of many statistics calculated and tracked by American Trucking Associations' professional staff that you can learn about here.

The freight trucking market is segmented on the basis of truck type, cargo type, end-user, and region. By truck type, it is segmented into dry van & box, refrigerated truck, tanker truck, flatbed truck, and others.

LTL carriers can help you save a significant amount of cost as you don't have to reserve the entire truck. It is suitable for small shipments with only a few pallets at a time. FTL shipments are best for transporting high-valued and sensitive cargo or shipments. Also, it guarantees on-time pick-ups and deliveries.

The logistics market in North America is among the leading logistics markets in the world. In 2020, the North American logistics market was sized at over two trillion U.S. dollars and ranked second after Asia-Pacific.

According to Cleveland Research Company (CRC) , "Our work indicates LTL pricing is rising Y/Y as demand outstrips capacity. We expect LTL pricing likely +4-6% in 2023, despite instances of spot market/3PL market discounting, as carriers opt to reduce capacity (labor, etc.) rather than lower price to win volume."

What is the difference between LTL and truckload? ›

Truckload (Full Truckload Shipping or FTL) means that one shipping trailer contracts to one shipper, customer, or consignee. FTL shipments typically move from point A to B. Less than truckload (LTL) is a mixed trailer that contains freight from 2 or more shippers, customers, or consignees.

A truckload (TL) refers to a quantity of freight that is large enough to fill an entire trailer. This typically translates to somewhere in the region of 24 to 30 pallets or 20k – 45K lbs. for standard equipment and 46K – 50K lbs. for lightweight trailers.

Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL industry is cost efficiency.

The trucking industry is one of the largest and most integral parts of the American economy. In fact, 70% of U.S. freight goods are moved by trucks. Due to the industry's economic impact and value, there's always a high demand for trucks, truckers, and trucking companies.

Transportation services (for-hire, in-house, and household) contributed $1.3 trillion (5.6%) to an enhanced U.S. gross domestic product (GDP) ¹ of $23.7 trillion in 2021—as measured by the Bureau of Transportation Statistics' (BTS) Transportation Satellite Accounts (TSAs).

The global Freight Brokerage market size was valued at USD 63120.05 million in 2022 and is expected to expand at a CAGR of 7.16% during the forecast period, reaching USD 95590.24 million by 2028.

As most people already know, the trucking industry is an essential part of the U.S. economy. Trucking companies, big and small, are responsible for providing transportation and logistics services for almost all other industries around. Owning and operating a trucking company can actually be highly profitable!

Trucking industry trends and the future of trucking

In 2030 and beyond were likely to see: A shift from same-day to same-hour delivery. 50% of fleets with some level of autonomy and trucks connecting to human-driven agile 'last mile' delivery in cities and regions.