Trucking on: Improving economic conditions and a projected surge in the price of diesel will benefit the industry

Over the past five years, the Local Freight Trucking industry recovered most of the ground it lost to the recession. Improving economic conditions as well as rising downstream manufacturing, retail activity and consumer confidence and spending have further benefited the industry. In the five years to 2022, industry revenue is forecast to increase, benefiting from high fuel prices and growing demand for industry services...read more.

Industry Statistics & Market Size
Revenue
$44bn
Annual Growth 12-17
2.1%
Forecast Growth 17-22
Profit
Employment
389,565
Businesses
216,476
Market Share of Companies
There are no companies with a dominant market share in this industry
What Our Customers Say

Industry Threats & Opportunities

  • Upticks in consumer confidence and spending will boost demand for goods transportation
  • Many retailers and manufacturers have outsourced trucking operations
  • As the overall economy strengthens, consumer income and confidence are anticipated to improve
  • Industry Report - Industry Analysis Chapter

    The Local Freight Trucking industry, which transports commodities and commercial goods either locally or regionally, has experienced modest gains over the past five years despite early years of weak industrial production and recent declines in the price of fuel. During the first half of the five-year period, many downstream retailers and wholesalers maintained limited inventory stock in an attempt to reduce costs, constraining US manufacturing activity and hampering demand for industry services. Moreover, a recent drop in the price of diesel fuel has limited the ability of industry operators to generate revenue through fuel surcharges. Des...purchase to read more.

    Additional Insights for the Local Freight Trucking Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Local Freight Trucking Industry are

  • Market research and understanding
  • Access to quality personnel management
  • Having contacts within key markets
  • IBISWorld analysts also discuss how external factors such as Freight transportation services index and Industrial production index in the Local Freight Trucking industry impact industry performance..

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    What is the Local Freight Trucking Industry?

    Operators in this industry provide general freight trucking services over short distances. General freight companies handle a variety of commodities, which are usually palletized and transported in a container or van trailer. Local general freight trucking companies commonly provide trucking within a metropolitan area that may cross state lines, and the trips are typically same-day return.

    Industry Products
  • Truckload transportation
  • Less-than-truckload transportation
  • Intermodal transportation
  • Other Services
  • Dry bulk transportation
  • Industry Activities
  • Local truckload delivery
  • Local less-than-truckload (LTL) delivery
  • General freight trucking on a local basis
  • Bulk mail truck transportation on a contract and local basis
  • 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
  • Consumer spending
  • Price of diesel

  • Current Performance
  • Bumpy ride
  • Industry consolidation
  • Increasing profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Increasing demand
  • External competition
  • Table: Local Freight Trucking Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Local Freight Trucking Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Construction
  • Manufacturing
  • Wholesale Trade
  • Retail Trade

  • Key Selling Industries
  • Auto Parts Wholesaling
  • Automobile Wholesaling
  • Gasoline & Petroleum Wholesaling
  • Tire Wholesaling

  • Products & Services
  • Truckload transportation
  • Less-than-truckload transportation
  • Other Services
  • Intermodal transportation
  • Dry bulk transportation
  • Chart: Local Freight Trucking Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Other wholesalers and manufacturers
  • Petroleum product wholesalers
  • Petroleum and coal products manufacturing
  • Farm product wholesalers
  • Nonmetallic mineral product manufacturing
  • Food and beverage manufacturing
  • Chemical manufacturing
  • Grocery wholesalers
  • Chart: Major Market Segmentation for the Local Freight Trucking Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Rent, utilities, depreciation and marketing
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Local Freight Trucking

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Local Freight Trucking Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Local Freight Trucking 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 Local Freight Trucking Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Price of diesel (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Fuel Surcharge
  • An additional charge introduced by transportation operators to cover the cost of fuel.
  • Just-In-Time (Jit)
  • A strategy implemented to improve profitability by reducing inventory and purchasing raw materials for the immediate term only.
  • Less-Than-Truckload (Ltl)
  • Truck shipments between 100 and 10,000 pounds.
  • Owner-Operator
  • A person who owns and operates the business. Many truck drivers in this industry are self-employed owner-operators.
  • Truckload
  • Truck shipments that weigh more than 10,000 pounds and are generally carried by semitrailers.
  • Why buy this report?

    The Local Freight Trucking Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    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 Local Freight Trucking:
    • 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 Local Freight Trucking 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 Local Freight Trucking, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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