En route: Improvements in consumer spending and construction activity will drive growth

Total consumer spending has increased at an annualized rate of 2.9% over the past five years, while the US oil and gas production index has increased an annualized 4.4% during the same period, fueling demand for specialized transportation of frozen foods, crude oil and other relevant freight. Moreover, while declines in the price of diesel fuel up until 2016 significantly constrained industry revenue growth, they also reduced industry operating costs. The result was industry profit margins that expanded early during the five-year period, from 5.3% in 2013 to 7.3% in 2015, before returning to 5.3% in 2018...purchase to read more.

Industry Statistics & Market Size
Revenue
$44bn
Annual Growth 13-18
0.7%
Forecast Growth 18-23
Profit
Employment
255,830
Businesses
59,536
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Demand for industry services has improved in line with recovering economic conditions
  • The industry is sensitive to changes in total consumer spending
  • The industry will experience mounting competition from alternate modes of freight transportation
  • Industry Report - Starting a New Business Chapter

    Barriers to entry are generally low throughout the transportation sector, as there are relatively few capital requirements or regulatory constraints that prevent companies from entering the market. Consequently, the Local Specialized Freight Trucking industry is largely composed of owner-operators and other small-scale companies. However, there are several health, safety and environmental laws that operators must adhere to once they enter the industry. Similarly, the volatile price of diesel fuel can exert pressure on a company's profit margins, acting as a barrier to success for emerging operators. Add...purchase to read more.

    Additional Insights for the Local Specialized Freight Trucking Industry

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

  • Accessibility to consumers
  • Having a good reputation
  • Ability to attract local support
  • IBISWorld analysts also discuss how external factors such as Demand from coal and ore wholesaling and Industrial production index in the Local Specialized Freight Trucking industry impact industry performance..

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    What's in this report

    What is the Local Specialized Freight Trucking Industry?

    Operators in this industry provide specialized road transportation for cargo using trucks and trailers. Local trucking establishments provide trucking within metropolitan areas that may cross state lines, and trips are often same-day return. Specialized freight transportation is the movement of cargo that requires specialized equipment for transportation because of the shipment’s size, weight and shape.

    Industry Products
  • Dry bulk transportation
  • Bulk liquid and gas transportation
  • Waste transportation and disposal
  • Livestock transportation
  • Climate-controlled transportation
  • Automobile transportation
  • Other transportation and value-added services
  • Industry Activities
  • Local agricultural products trucking
  • Providing local automobile carrier services
  • Local bulk liquid trucking
  • Local dump trucking and flatbed trucking
  • Local refrigerated products trucking
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from coal and ore wholesaling
  • Industrial production index
  • Private investment in industrial equipment and machinery
  • Freight transportation services index
  • US oil and gas production index
  • Total trade value

  • Current Performance
  • Growing demand
  • Headwinds
  • Industry participation
  • Chart: Revenue Growth

  • Industry Outlook
  • Steady demand
  • Industry landscape
  • Table: Local Specialized Freight Trucking Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Construction
  • Automobile Wholesaling
  • Frozen Food Wholesaling
  • Egg & Poultry Wholesaling
  • Beef & Pork Wholesaling
  • Chemical Wholesaling
  • Gasoline & Petroleum Wholesaling

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

  • Products & Services
  • Other transportation and value-added services
  • Dry bulk transportation
  • Bulk liquid and gas transportation
  • Waste transportation and disposal
  • Climate-controlled transportation
  • Livestock transportation
  • Automobile transportation
  • Chart: Local Specialized Freight Trucking Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Construction & Mining sector
  • Agricultural sector
  • Retail sector
  • Manufacturing and automotive sectors
  • Other
  • Petroleum, gas and chemical sectors
  • Chart: Major Market Segmentation for the Local Specialized Freight Trucking Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent, utilities and depreciationOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Local Specialized Freight Trucking

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Local Specialized 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 Specialized 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 Specialized Freight Trucking Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Price of diesel (2009-2023)

  • 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 transport operators to cover the increased cost of fuel. It is charged in addition to the freight rate.
  • Just-In-Time (Jit)
  • A strategy implemented to improve profitability by reducing inventory and purchasing the raw materials that are needed for the immediate term only.
  • Less-Than-Truckload
  • Truck shipments between 100 pounds and 10,000 pounds.
  • Truckload
  • Truck shipments that weigh greater than 10,000 pounds. These shipments are generally carried by semi-trailers.
  • What Our Customers Say

    Why buy this report?

    The Local Specialized Freight Trucking industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    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 Specialized 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 Specialized 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 Specialized 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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