Vehicle Shipping Services in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS OD5008Revenue
$10.1bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
38,604
Businesses
7,858
Wages
$X.Xbn
Vehicle Shipping Services in the US industry analysis
Over the past five years, the Vehicle Shipping Services industry’s journey has been marked by abrupt changes. Post-2017, the booming economy and robust car sales fostered a healthy demand for vehicle transport services. Despite this, the pandemic disrupted this upward trajectory. From 2020 to early 2021, the industry struggled with a precipitous decline in new car sales and a subsequent drop in revenue. Elevated fuel prices, stemming from supply chain disruptions and geopolitical tensions such as the conflict in Ukraine, further complicated matters, curbing driving and, by extension, vehicle sales. Despite these challenges, e-commerce has emerged as a bright spot. The rise of online car sales necessitated efficient vehicle transport solutions, helping sustain some revenue streams and pushing service providers to innovate operationally. Overall, revenue for vehicle shipping companies is anticipated to plunge at a CAGR of 4.1% during the current period, reaching $10.1 billion in 2024. This includes a 4.3% drop in revenue in that year.
Trends and Insights
- Record-high gas prices, partly due to the Ukraine conflict and supply chain issues, discouraged driving and limited demand for new cars. As the energy market stabilizes and US oil production rises, lower gas prices may offer some relief to the auto industry, although challenges remain.
- Trucking's revenue share has fallen during the current period because of high gas prices. Many companies now prefer rail transport, especially for long-distance hauls, because it’s more cost-effective amid rising fuel expenses.
- The Southeast comprises the largest share of the nation’s population because it contains big states such as Florida and North Carolina. The high population causes many dealerships, wholesalers and manufacturers to locate in the region, so there’s a high penetration of vehicle shipping companies to satisfy local demand.
- Buyers have strong negotiating power. The sheer number of vehicle shipping service providers in the US enables new car dealers, auto wholesalers and consumers to switch suppliers with ease, forcing companies to compete on several fronts.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 4.1 % over the past five years, to reach an estimated $10.1bn in 2024.
Trends and Insights
New car sales are a major barometer of the industry's performance
- The industry's performance is highly correlated with the sales of new cars and light trucks. When sales expand, more vehicles must be transported from manufacturers to dealerships and other markets. Vehicle freight volumes climb, causing demand for the industry's services to rise.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The return to normalcy will cause the industry to grow
- Despite challenges related to high inflation, soaring interest rates and recessionary fears, US GDP will increase at a steady pace during the outlook period.
Biggest companies in the Vehicle Shipping Services in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Burlington Northern Santa Fe, Llc | 3,413.9 | 1,218.1 | 35.7 | |
Union Pacific Corp | 1,955.2 | 806.2 | 41.2 | |
Csx Corporation | 1,093.3 | 433.2 | 39.6 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Local trucking transportation services, Long-distance trucking transportation services and Rail transportation services. Local trucking transportation services is the largest segment of the Vehicle Shipping Services in the US.
Trends and Insights
Trucks transport vehicles across all distances
- Trucking services comprise more than one-third of revenue and can be separated based on distance.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Rail Transportation in the US
- Ocean & Coastal Transportation in the US
- Inland Water Transportation in the US
- Local Freight Trucking in the US
- Long-Distance Freight Trucking in the US
- Local Specialized Freight Trucking in the US
Complementors
- Wholesale Trade in the US
- Retail Trade in the US
International industries
- Long-Distance Freight Trucking in Canada
- Road Freight Transport in Australia
- Road Freight Transport in New Zealand
- Freight Road Transport in the UK
- Freight Road Transport in Ireland
Table of Contents
About this industry
Industry definition
Vehicle shipping companies transport finished vehicles, such as cars, trucks, vans, buses, tractors and motorcycles, regionally and nationally. These companies offer various services to cater to the needs of individuals, dealerships and businesses that require moving cars, trucks, motorcycles and other types of vehicles.
What's included in this industry?
Vehicle shipping services by local trucksVehicle shipping services by long-distance freight trucksVehicle shipping services by railVehicle shipping services by shipCompanies
Burlington Northern Santa Fe, LlcUnion Pacific CorpCsx CorporationPurchase this report to view all 4 major companies in this industry.
Related Terms
AUTO-TRANSPORT TRAILERSROLL-ON/ROLL-OFF SHIPSINTERMODALFUEL SURCHARGESDELIVERED IN-FULL ON-TIMEJONES ACTIndustry Code
NAICS 48311 - Vehicle Shipping Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Record-high gas prices, partly due to the Ukraine conflict and supply chain issues, discouraged driving and limited demand for new cars. As the energy market stabilizes and U...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Trucking's revenue share has fallen during the current period because of high gas prices. Many companies now prefer rail transport, especially for long-distance hauls, becaus...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast comprises the largest share of the nation’s population because it contains big states such as Florida and North Carolina. The high population causes many dealer...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Buyers have strong negotiating power. The sheer number of vehicle shipping service providers in the US enables new car dealers, auto wholesalers and consumers to switch suppl...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The industry’s major players comprise more than half of revenue. Large vehicle shipping companies take advantage of economies of scale and new technologies, which spurs eleva...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Burlington Northern Santa Fe, Llc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Union Pacific Corp's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Csx Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Burlington Northern Santa Fe, Llc, and factors influencing its performance in the industry
- Description and key data for Union Pacific Corp, and factors influencing its performance in the industry
- Description and key data for Csx Corporation, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Federal Railroad Administration (FRA) was established in 1966 under the Department of Transportation Act to ensure the safe and efficient movement of people and goods. It...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Vehicle shipping companies tend to make solid profit, but it varies across different sectors. Trucking companies struggle with price competition because of market fragmentati...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
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.
What data sources do IBISWorld analysts use?
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:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
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:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
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.
How does IBISWorld forecast its data?
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.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Vehicle Shipping Services in the US industry in United States in 2024?
The market size of the Vehicle Shipping Services in the US industry in United States is $10.1bn in 2024.
How many businesses are there in the Vehicle Shipping Services in the US industry in 2024?
There are 7,858 businesses in the Vehicle Shipping Services in the US industry in United States, which has grown at a CAGR of 8.7 % between 2019 and 2024.
Has the Vehicle Shipping Services in the US industry in United States grown or declined over the past 5 years?
The market size of the Vehicle Shipping Services in the US industry in United States has been declining at a CAGR of 4.1 % between 2019 and 2024.
What is the forecast growth of the Vehicle Shipping Services in the US industry in United States over the next 5 years?
Over the next five years, the Vehicle Shipping Services in the US industry in United States is expected to grow.
What are the biggest companies in the Vehicle Shipping Services in the US market in United States?
The biggest companies operating in the Vehicle Shipping Services market in United States are Burlington Northern Santa Fe, Llc, Union Pacific Corp and Csx Corporation
What does the Vehicle Shipping Services in the US in United States include?
Vehicle shipping services by local trucks and Vehicle shipping services by long-distance freight trucks are part of the Vehicle Shipping Services in the US industry.
Which companies have the highest market share in the Vehicle Shipping Services in the US in United States?
The company holding the most market share in United States is Burlington Northern Santa Fe, Llc.
How competitive is the Vehicle Shipping Services in the US industry in United States?
The level of competition is high and steady in the Vehicle Shipping Services in the US industry in United States.
