Industry Analysis & Industry Trends
The industry has traveled a tough road over the past five years. As the country sank into recession, manufacturing, consumer spending and construction all contracted, and with them demand for freight transportation. The coming years will be a period of growth for the industry, as the improving economy causes freight volumes to jump. Climbing fuel costs will increase revenue from fuel surcharges. However, a persistent shortage of labor will force operators to raise drivers' wages and improve their work environment... purchase to read more
Industry Report - Industry Investment Chapter
The Tank and Refrigeration Trucking industry has a moderate level of capital intensity. Industry operators typically invest 23 cents of capital for every dollar of labor in 2013. Labor expenses include the wages and salaries paid to truck drivers, mechanics, cleaners and administrative staff. The average annual industry wage is relatively high compared to other trucking industries at about $40,769 per person, reflecting long working hours, uncomfortable working conditions and the industry's strong labor union representation. Furthermore, many drivers spend extended amounts of time away from home, so the higher wage entices drivers to stay in the industry... purchase to read more