Keep on trucking: Despite increased demand, driver shortages will likely persist
Long-Distance Freight Trucking in the US Over the five years to 2019, the Long-Distance Freight Trucking industry has experienced growth as economic conditions improved. However, massive drops in fuel prices negatively affected the industry in 2015 and 2016. Furthermore, poor manufacturing output and commodity prices in these years presented another challenge for industry operators, as revenue ultimately declined despite improving profit margins. Fortunately, these conditions were offset by strong growth in per capita disposable income, which prompted greater consumer spending, driving industry demand upward. Moving forward, trucking will continue to be the most widely used mode of freight transportation. As demand for industry services continues to increase, the driver shortage is expected to continue and average rates will increase, leading industry wages to rise as a share of revenue.
Operators in the Long-Distance Freight Trucking industry handle various commodities, usually palletized and transported in containers or van trailers. Operators typically provide trucking between metropolitan areas and regions that may cross North American country borders. The industry includes companies operating as truckload and less-than-truckload carriers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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