Still trucking: Growing trade volumes will support steady industry revenue growth

Following the recession, the Long-Distance Freight Trucking industry returned to growth as household disposable income grew, leading to increases in industrial production and general trade volume. Although massive drops in fuel prices have recently hurt industry revenue, a less sizable drop in 2016 is expected to be mitigated by a relatively strong increase in disposable income, which boosts consumer spending and supports demand for long-distance freight transportation. In the coming years, trucking will continue to be the most widely used mode of freight transportation, although the industry will experience increased competition due to fluctuations in fuel prices and greater consumer concern regarding environmental sustainability...read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
1.3%
Forecast Growth 17-22
Profit
Employment
21,611
Businesses
7,673
What Our Customers Say

Industry Threats & Opportunities

  • Higher disposable incomes nationally have increased out-of-state demand, benefiting the industry
  • With still rising consumer spending, trade volumes are picking up
  • Diesel’s price volatility will make it difficult for industry operators to estimate future costs
  • Industry Report - Industry Key Buyers Chapter

    The industry has low market share concentration, with the top three players accounting for less than 5.0% of total industry revenue in 2017. Moreover, the 50 largest companies in the industry account for less than 30.0% of industry revenue. This low concentration is due to the relative ease of entry into the industry. Owner-operators dominate the freight trucking landscape, as over 85.0% of all operators in this industry are nonemployers. With little capital expenditure, a truck driver can get a loan to purchase a truck and start a freight trucking business. Despite the number of owner-operators, these businesses generate only just a quarter of total revenue. Maj...purchase to read more.

    Additional Insights for the Long-Distance Freight Trucking in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Long-Distance Freight Trucking in New York Industry are

  • Market research and understanding
  • Having a high profile in the market
  • Output is sold under contract - incorporate long-term sales contracts
  • IBISWorld analysts also discuss how external factors such as Freight transportation services index and Industrial production index in the Long-Distance Freight Trucking in New York industry impact industry performance..

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    What is the Long-Distance Freight Trucking in New York Industry?

    Operators in the Long-Distance Freight Trucking industry handle various commodities, usually palletized and transported in containers or van trailers. Establishments typically provide trucking between metropolitan areas and regions that may cross North American country borders. The industry includes establishments operating as truckload or less-than-truckload carriers in New York state.

    Industry Products
  • Truckload carrier services
  • Less-than-truckload carrier services
  • Other transportation services
  • Industry Activities
  • Long-distance truckload transit
  • Long-distance less-than-truckload transit
  • Logistics services
  • Storage services
  • Similar Industries
  • Local Freight Trucking
  • Local Specialized Freight Trucking
  • Toll Roads & Weigh Stations
  • Public Storage & Warehousing
  • Couriers & Local Delivery Services
  • Local Freight Trucking in California
  • Long-Distance Freight Trucking in California
  • Local Freight Trucking in New York
  • Local Freight Trucking in Illinois
  • Long-Distance Freight Trucking in Illinois
  • Local Freight Trucking in Texas
  • Long-Distance Freight Trucking in Texas
  • Local Freight Trucking in Florida
  • Long-Distance Freight Trucking in Florida
  • Local Freight Trucking in Massachusetts
  • Long-Distance Freight Trucking in Massachusetts
  • Local Freight Trucking in Ohio
  • Long-Distance Freight Trucking in Ohio
  • Local Freight Trucking in Pennsylvania
  • Long-Distance Freight Trucking in Pennsylvania
  • Local Freight Trucking in New Jersey
  • Long-Distance Freight Trucking in New Jersey
  • Long-Distance Freight Trucking in Georgia
  • Local Freight Trucking in Michigan
  • Long-Distance Freight Trucking in Michigan
  • Local Freight Trucking in Wisconsin
  • Long-Distance Freight Trucking in Wisconsin
  • Local Freight Trucking in Washington
  • Long-Distance Freight Trucking in Washington
  • Local Freight Trucking in Virginia
  • Long-Distance Freight Trucking in Virginia
  • Local Freight Trucking in Tennessee
  • Long-Distance Freight Trucking in Tennessee
  • Local Freight Trucking in North Carolina
  • Long-Distance Freight Trucking in North Carolina
  • Local Freight Trucking in Minnesota
  • Long-Distance Freight Trucking in Minnesota
  • Local Freight Trucking in Maryland
  • Long-Distance Freight Trucking in Maryland
  • Local Freight Trucking in Colorado
  • Long-Distance Freight Trucking in Colorado
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Freight transportation services index
  • Industrial production index
  • Manufacturing GDP for New York
  • Government funding for highways
  • Price of diesel

  • Current Performance
  • Macroeconomic changes and their effects
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Limiting factors
  • Environmental concerns
  • Table: Long-Distance Freight Trucking in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Long-Distance Freight Trucking in New York Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Manufacturing
  • Metal Wholesaling
  • Retail Trade
  • Freight Forwarding Brokerages & Agencies
  • Commercial Building Construction

  • Key Selling Industries
  • Auto Parts Stores
  • Fuel Dealers
  • Tire Dealers
  • Truck & Bus Manufacturing
  • Truck, Trailer & Motor Home Manufacturing

  • Products & Services
  • Other transportation services
  • Truckload carrier services
  • Less-than-truckload carrier services
  • Chart: Long-Distance Freight Trucking in New York Industry Products and Services Segmentation

  • Major Markets
  • Manufacturing sector
  • Wholesale
  • Other
  • Chart: Major Market Segmentation for the Long-Distance Freight Trucking in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Fuel and purchases
  • Maintenance and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Long-Distance Freight Trucking in New York

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Long-Distance Freight Trucking in New York Industry

  • ArcBest CorporationIsland Transportation CorpOld Dominion Freight Line Inc.Transnational Logistics CorpWard Transport & Logistics
  • Table: ArcBest Corporation - financial performance
  • Table: Island Transportation Corp - financial performance
  • Table: Old Dominion Freight Line Inc. - financial performance
  • Table: Transnational Logistics Corp - financial performance
  • Table: Ward Transport & Logistics - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Long-Distance Freight Trucking in New York Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Long-Distance Freight Trucking in New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • NY - Manufacturing GDP for New York (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Delivered In-Full On-Time (Difot)
  • A measurement of delivery performance in a supply chain that evaluates how often customers get what they want at the time they want it.
  • Fuel Surcharge
  • An additional charge introduced by transportation operators to cover the increased cost of fuel.
  • Just-In-Time (Jit)
  • A strategy implemented to improve profitability by reducing inventory and purchasing raw materials needed for the immediate term only.
  • Less-Than-Truckload (Ltl)
  • Truck shipments weighing between 100 and 10,000 pounds.
  • Truckload
  • Truck shipments weighing more than 10,000 pounds and generally carried by semitrailers.
  • Why buy this report?

    IBISWorld’s industry research report on Long-Distance Freight Trucking in New York provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Long-Distance Freight Trucking in New York:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Long-Distance Freight Trucking in New York market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Long-Distance Freight Trucking in New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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