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United States Trucking Market Size, Share, Trends, Growth: By Vehicle Type: Semi-Trailers, Light Trucks, Others; By Application: Full Truckload, Less Than Truckload; By End User: Manufacturing, Consumer Goods and Retail, Food and Beverages, IT Hardware and Telecom, Healthcare, Others; Regional Analysis; Competitive Landscape; 2024-2032
United States Trucking Market Outlook
The United States trucking market size reached approximately USD 13.51 billion in 2023. The market is estimated to grow at a CAGR of 10.4% in the forecast period of 2024-2032, reaching a value of around USD 33.08 billion by 2032.
Key Trends in the Market
Trucking forms an integral part of the logistics sector as it involves the transportation of commodities, goods, and freights using small pickups or light trucks. These trucks are generally used for the transportation of goods between warehouses, distributors, retailers, and customers.
- Growing usage of shared freight services, which offers consolidated shipment from different shippers in a single truck, is one of the prominent United States trucking market trends. Such services offer an economical solution by saving fuel costs from multiple trucks as well as faster transit time compared to less-than-truckload shipment transportation.
- The surging trend of electrification of freight trucks to lower greenhouse gas emissions caused by freight transportation is another crucial trend boosting the market expansion. Additionally, many trucks are also using alternative fuels such as hydrogen gas to lower their environmental impact.
- Increased integration of technologies like data analytics in trucks for route optimisation to reduce fuel consumption and real-time tracking to provide timely updates is also expected to favour the United States trucking market growth.
- Increasing attempts by key players to deploy autonomous trucks that can enhance operational efficiency, reduce the risk of human errors, and improve the safety of logistics are anticipated to further fuel the market in the coming years. For example, Mars Auto, a South Korean truck startup, aims to provide a fleet of 30 self-driving trucks in the USA by the year 2025 for delivery service.
Market Analysis
Based on vehicle type, the market is divided into semi-trailers, and light trucks, among others. On the basis of application, the market is bifurcated into full truckload and less than truckload.
The United States trucking market segmentation, on the basis of end user, includes manufacturing, consumer goods and retail, food and beverages, IT hardware and telecom, healthcare, chemicals, construction, automotive, and oil and gas, among others. The major regional markets of trucking in the United States include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States trucking market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- J.B. Hunt Transport Services, Inc.
- UPS Inc.
- XPO, Inc.
- YRC Worldwide
- Landstar Systems
- FedEx Corporation
- Expeditors International of Washington Inc.
- Others
Market Share by Application
Less than truckload (LTI) freight occupies a significant portion of the United States trucking market share, owing to its smaller size, which offers great flexibility for delivering small shipments to multiple locations. LTI also offers facilities such as liftgate pickup or delivery, and additional insurance on goods and services.
Moreover, LTI freight is more eco-friendly than full truckload freight as it consolidates shipment from multiple providers and removes the requirement for non-essential trucks to lower overall carbon emissions.
Market Share by End User
As per the United States trucking market analysis, the consumer goods and retail sector accounts for a substantial market share, due to the growth of the online retailing sector in the country. The ease of buying day-to-day goods from the comfort of homes is expected to boost the growth of the e-commerce sector, consequently fuelling the demand for trucking services.
This has also led to the rise of last-mile delivery services, further fuelling the demand for lightweight trucks that transport goods from local warehouses to the end consumers.
Competitive Landscape
J.B. Hunt Transport Services, Inc., founded in 1961, is a transportation and logistics company, headquartered in Arkansas, the United States. Some of its shipping solutions include final mile services, highway services, and intermodal and managed logistics, among others. It primarily provides semi-trailer truck transportation for the continental USA and Canada.
UPS Inc., established in 1907 and based in Georgia, the United States, is a shipping and supply chain management company. It is a Fortune 500 member and is known as one of the world’s largest shipping courier providers. It offers its package shipment and delivery services in over 200 countries across the world.
XPO, Inc. incorporated in 2000, is a transportation corporation, with its headquarters in Connecticut, the United States. The company offers services such as expedited transportation, freight brokerage, global forwarding, and last mile, among others.
Other United States trucking market players include YRC Worldwide, Landstar Systems, FedEx Corporation, and Expeditors International of Washington Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Vehicle Type |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 United States Logistics Market Overview
8.1 United States Logistics Historical Market (2018-2023)
8.2 United States Logistics Market Forecast (2024-2032)
9 United States Trucking Market Overview
9.1 Key Industry Highlights
9.2 United States Trucking Market Historical Market (2018-2023)
9.3 United States Trucking Market Forecast (2024-2032)
10 United States Trucking Market by Vehicle Type
10.1 Semi-Trailers
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Light Trucks
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Others
11 United States Trucking Market by Application
11.1 Full Truckload
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Less Than Truckload
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United States Trucking Market by End User
12.1 Manufacturing
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Consumer Goods and Retail
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Food and Beverages
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 IT Hardware and Telecom
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Healthcare
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Chemicals
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Construction
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Automotive
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
12.9 Oil and Gas
12.9.1 Historical Trend (2018-2023)
12.9.2 Forecast Trend (2024-2032)
12.10 Others
13 United States Trucking Market by Region
13.1 New England
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mideast
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Great Lakes
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Plains
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Southeast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Southwest
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Rocky Mountain
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.8 Far West
13.8.1 Historical Trend (2018-2023)
13.8.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 J.B. Hunt Transport Services, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 UPS Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 XPO, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 YRC Worldwide
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Landstar Systems
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 FedEx Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Expeditors International of Washington Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. United States Logistics Market: Key Industry Highlights, 2018 and 2032
2. United States Trucking Market: Key Industry Highlights, 2018 and 2032
3. United States Trucking Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
4. United States Trucking Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
5. United States Trucking Historical Market: Breakup by Application (USD Billion), 2018-2023
6. United States Trucking Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. United States Trucking Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. United States Trucking Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. United States Trucking Historical Market: Breakup by Region (USD Billion), 2018-2023
10. United States Trucking Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. United States Trucking Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 13.51 billion.
The market is projected to grow at a CAGR of 10.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 33.08 billion by 2032.
The major market drivers are the growth of the e-commerce sector, rapid urbanisation, and the rise in trading activities.
The key trends of the market include the growing usage of shared freight services, the surging trend of electrification of freight trucks, increased integration of data analytics in trucks, and strategic measures by market players to expand their business.
The major regions in the market are New England, the Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
Different vehicle types are semi-trailers, and light trucks, among others.
The key players in the market are J.B. Hunt Transport Services, Inc., UPS Inc., XPO, Inc., YRC Worldwide, Landstar Systems, FedEx Corporation, and Expeditors International of Washington Inc., among others.
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