$280.0bn
$XX.Xbn
1m
616k
$XX.Xbn
The performance of long-distance freight truckers largely mirrors the US economy. Spikes in consumer spending, manufacturing output and trade volumes drive demand for the industry’s services. This correlation accounted for stagnated growth caused by COVID-19 in 2020 when a drop in manufacturing output and commodity prices led to a dip in spending on transportation needs. A sharp revival in economic activity in 2021 and 2022 amplified transportation activity. This factor, along with soaring fuel prices, caused revenue to soar in these years. More recently, inflationary pressures and heightened energy prices have created a more costly environment, which caused consumer spending to slow down rapidly in 2023, thus hindering revenue and profit. Providers are more optimistic in 2024 as the cooling economy makes it likely that the central bank will bring down the cost of borrowing. Overall, revenue for long-distance freight trucking companies is expected to creep upward at a CAGR of 0.8% during the current period, reaching $280.0 billion in 2024. This includes a 0.3% rise in revenue in that year.
Industry revenue has grown at a CAGR of 0.8 % over the past five years, to reach an estimated $280.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Hunt J B Transport Services Inc. | 15,459.0 | 1,295.6 | 8.4 | |
Xpo Logistics, Inc. | 8,176.8 | 302.5 | 3.7 | |
Knight-Swift Transportation Holdings Inc. | 7,586.8 | 1,254.6 | 16.5 |
To view the market share and analysis for all 8 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Truckload carriers, Less-than-truckload carriers and Other transportation services. Truckload carriers is the largest segment of the Long-Distance Freight Trucking in the US.
Truckload (TL) carriers dominate the industry
Companies in the industry handle various commodities, which are often palletized and transported in containers or van trailers. Players typically provide trucking between metropolitan areas and regions that may cross North American country borders. The industry includes companies operating as a truckload and less-than-truckload carriers.
Purchase this report to view all 8 major companies in this industry.
NAICS 48412 - Long-Distance Freight Trucking in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
E-commerce growth has significantly boosted demand for long-distance freight truckers. Thanks to the surge in online shopping, trucking companies are expanding their operatio...
Learn about an industry's products and services, markets and trends in international trade.
Truckload (TL) and less-than-truckload (LTL) battle for the best shipping method. The largest TL carriers have low profit and generate less revenue per ton than LTL carriers.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Great Lakes region leads the nation among long-distance freight truckers. Chicago, in particular, is a transportation hub facilitating large shipments from out west that ...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Internal competition is fierce because of relatively low barriers to entry, which has resulted in downward pressure on freight rates. It's relatively easy for someone with li...
Learn about the performance of the top companies in the industry.
Yellow, the largest less-than-load (LTL) transport company in the United States, filed for bankruptcy in 2023. The company's high service costs stemmed from its unionized wor...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The US Trucking Association (ATA) is self-regulating. It’s the largest and most comprehensive national trade association for the trucking industry.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Economic conditions have severely impacted profit for long-distance freight truckers. Supply chain disruptions, diminished fuel surcharges, rising inflation and recessionary ...
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Long-Distance Freight Trucking in the US industry in United States is $280.0bn in 2024.
There are 616k businesses in the Long-Distance Freight Trucking in the US industry in United States, which has grown at a CAGR of 4.9 % between 2019 and 2024.
The market size of the Long-Distance Freight Trucking in the US industry in United States has been growing at a CAGR of 0.8 % between 2019 and 2024.
Over the next five years, the Long-Distance Freight Trucking in the US industry in United States is expected to grow.
The biggest companies operating in the Long-Distance Freight Trucking market in United States are Hunt J B Transport Services Inc., Xpo Logistics, Inc. and Knight-Swift Transportation Holdings Inc.
General long-distance truckload transit and General long-distance less-than-truckload transit are part of the Long-Distance Freight Trucking in the US industry.
The company holding the most market share in United States is Hunt J B Transport Services Inc..
The level of competition is high and steady in the Long-Distance Freight Trucking in the US industry in United States.