Industry Analysis & Industry Trends
During the recession, the Long-Distance Freight Trucking industry faced difficult conditions and falling demand. Decreased consumer spending reduced the amount of freight requiring transport, causing revenue to fall. Nevertheless, as the economy recovers, consumers will spend more and demand for long-distance freight will increase. Average industry profit margins will also improve, due to higher demand for manufacturing and company acquisitions of more fuel-efficient vehicles... purchase to read more
Industry Report - Starting a New Business Chapter
In the general freight market, barriers to entry are low. It is not difficult for someone with little capital, experience or expertise to enter the industry. As a result, there are a large number of small firms and nonemployers, which increases overall competition.
Long-distance freight trucking industry operators generally only need a commercial driver's license (CDL) and often must have their own truck. For driver's to obtain a CDL, most states require an individual to be 18 years old, but these requirements differ from state to state. Other factors, such as increasing compliance costs to meet environmental regulations, may also act as deterrents to entry... purchase to read more