The statistic shows the employment in U.S. freight trucking industry from 1990 to 2020, broken down by segment. In 2020, just over *********** people were employed in general freight trucking positions in the United States.

In 2021, the total annual revenue of the freight trucking industry in the United States amounted to ***** U.S. dollars. This represents an increase of almost ** percent compared with the previous year.

Local freight truckers have navigated predominantly favorable conditions for revenue expansion, driven by rising consumer spending and increased manufacturing activity that boosted demand for transporting input materials and finished products. Digital transformation has accelerated across the sector, with operators implementing sensors and cloud computing technologies to optimize delivery routes and improve operational efficiency. Substantial investment in intermodal transportation has enabled many truckers to integrate services with rail networks, helping offset competitive pressures and reduce fuel costs during volatile energy prices. However, persistent structural challenges have emerged, including higher truck prices and elevated turnover rates. The industry also faces mounting pressure from new tariffs on imported truck equipment, with 25.0% duties on heavy-duty vehicles potentially increasing fleet acquisition costs and straining an already thin profit margin. These tariff policies threaten to disrupt cross-border freight flows with Canada and Mexico while increasing equipment maintenance and replacement operational expenses. Profit performance has shown resilience, improving from 8.5% of revenue in 2020 to 8.9% in 2025, even as operators absorbed portions of cost increases. Revenue has demonstrated the sector's established market position, climbing at an annualized rate of 6.1% over the last five years, reaching $99.1 billion with year-over-year growth of 0.8% in 2025. The competitive landscape has intensified as high interest rates have limited freight volumes for truckers handling industrial products in 2023 and 2024, while manufacturing activities have slowed amid cooling demand in the construction and mining sectors. Regulatory changes continue challenging operators, with new mandates from the EPA and NHTSA increasing operational and compliance costs. Speed limit regulations under consideration by the FMCSA add further uncertainty to operational planning. Despite these headwinds, operators successfully implemented fuel surcharges to offset rising input costs, though the industry's competitive nature prevented full cost pass-through to customers, limiting profit. Rising consumer spending and accelerated e-commerce activity are positioned to boost demand for local freight services, creating growth opportunities despite ongoing challenges. As regulatory pressures intensify, companies must invest in new technologies to meet emission standards and potentially transition to hydrogen or electric-powered trucks. However, these technological shifts will raise operational costs, further pressuring profit across the sector. The continued push for vertical integration among large corporations and growing competition from rail transport will present additional market challenges. Even so, the industry's demonstrated ability to integrate intermodal solutions and enhance operational efficiency through digital technologies positions local freight truckers for sustained growth through 2030. Profit margin is expected to moderate to 8.6% of revenue by 2030 as compliance costs climb, while revenue is forecast to expand at an annualized rate of 1.3% over the next five years, reaching $105.8 billion through the end of 2030.

The long-distance freight trucking industry faces significant headwinds primarily driven by weak freight demand and tariff-induced cost pressures that fundamentally alter the competitive landscape. The reinstatement and expansion of tariffs on goods from key trading partners, including China, Mexico and Canada, has created a stagflation environment where operating costs climb. At the same time, freight volumes and rates remain stagnant. Tariffs on intermediate goods have driven up costs for imported consumer products and domestic manufacturing inputs, further constraining freight demand across multiple sectors. Profit margin has deteriorated substantially, falling from 7.2% of revenue in 2020 to just 5.0% in 2025, with the truckload sector posting a negative operating margin averaging -2.3%. This challenging environment contributed to a five-year revenue contraction at a CAGR of -4.3% and a 1.0% drop in 2025 alone, bringing industry revenue to $225.0 billion. Structural challenges beyond tariff policy continue to pressure industry performance, including the oversupply of trucking capacity that emerged during the post-pandemic freight surge, which has yet to be corrected. The collapse of spot markets has been particularly severe, with rates often falling below breakeven levels as carriers underbid each other to maintain cashflow. Rising insurance costs driven by cargo theft claims, elevated fuel prices and tighter financing conditions have further compressed profit margin. Equipment costs have also increased significantly because of tariff impacts. According to S&P Global Mobility, new Class 8 truck prices are estimated to climb approximately 9.0% as more than 40.0% of trucks sold in the U.S. are imported from Canada and Mexico. These mounting cost pressures have led to widespread fleet downsizing, with truck capacity declining as carriers sold equipment and reduced staffing. The easing of monetary policy and gradual economic recovery in key freight-generating sectors such as manufacturing, construction and retail are expected to provide modest support for industry stabilization. However, the freight recovery has been pushed back to the second half of 2026 because of ongoing tariff uncertainty and weak fleet confidence. Profit margin will improve slightly to 5.1% of revenue by the end of the outlook period as operational efficiencies gain traction and freight demand gradually recovers. However, profit margin will likely remain below pre-pandemic levels throughout the forecast horizon. Despite these headwinds, the industry will achieve a modest turnaround with revenue expanding at a 1.0% CAGR over the next five years to reach $237.0 billion by 2030.

The specialized freight trucking industry has navigated a period marked by pronounced volatility, as shifting consumer spending, cost inflation and macroeconomic headwinds all intensified margin pressure. There has been some consolidation as major carriers invest in intermodal integration, aligning closely with Class I and regional railroads to win large contracts and improve efficiency. Rising tariffs have increased the cost of new equipment and cross-border shipments, while insurance premiums, fuel prices and labor costs surged over the last five years. Even as operator wages and driver recruitment programs, including federal initiatives like the Safe Driver Apprenticeship Pilot Program, helped address driver shortages, profit margin contracted from 5.3% in 2020 to 4.4% of revenue in 2025, as cost increases significantly outpaced rate growth. Despite elevated costs, industry revenue continued to climb, supported by robust demand for last-mile services and the integration of digital tools for load matching and route optimization. Industry revenue expanded at a compound annual growth rate (CAGR) of 3.1% over the past five years, reaching $66.1 billion in 2025, though current-year growth slowed to just 0.8%. Profit faced pressure since persistent inflation and borrowing costs weighed heavily on manufacturing and construction, the industry’s key customer sectors. Leading companies like J.B. Hunt, Schneider and Knight-Swift deepened partnerships with railroads, deploying advanced technologies such as AI-powered dispatch, predictive maintenance and collision avoidance systems to extract efficiency gains and mitigate labor constraints. However, smaller carriers struggled to manage overhead and keep up with rapid digitalization. Brand reputation, vendor relationships and diversified services insulated some carriers from the downturn, but market exits and bankruptcies remained elevated as the industry worked through a protracted market correction. While nonemployers continue to enter the industry, larger firms absorb capacity, leveraging scale to withstand cost increases and secure exclusive contracts in critical geographic and sector markets. The industry’s prospects will depend on stabilizing economic conditions and continued technological transformation, influencing freight rates and demand. Freight rates have declined in the second quarter of 2025 as excess industry capacity combines with weakened demand, with many businesses working through inventory stockpiled before tariff implementation. Electrification efforts, while promising gains in safety and operational costs, face obstacles from shifting federal policies, infrastructure funding uncertainty and regulatory restrictions on vehicle weights. Still, as economic activity rebounds across sectors like retail, manufacturing and construction, demand for specialized freight will recover, particularly among established firms able to leverage digital freight platforms and modal partnerships. The industry is forecast to climb at a 1.9% CAGR over the next five years, with revenue reaching $72.5 billion by 2030, driven by renewed investment in automation, international trade and diversified, resilient supply chain solutions.

Global Flatbed Trucking Market is segmented by Application (Heavy Equipment Transport_ Building Materials_ Steel_ Oversized Loads_ Agriculture), Type (Step Deck_ Double Drop_ Standard Flatbed_ Extendable Flatbed_ Removable Gooseneck), and Geography (North America_ LATAM_ West Europe_Central & Eastern Europe_ Northern Europe_ Southern Europe_ East Asia_ Southeast Asia_ South Asia_ Central Asia_ Oceania_ MEA)

A stated preference survey of truck drivers collected nationally to capture driving behaviors from before and during the COVID-19 pandemic. The survey was administered through the University of Arkansas. Survey data was collected between May 25th and June 1st, 2020, utilizing Qualtrics, an online electronic survey instrument. Completing the survey was voluntary, but to participate respondents must have been at least 18 years of age, held a CDL, had been operating their commercial motor vehicle for more than a year and also during the COVID-19 pandemic. The survey included a total of 67 questions divided into nine parts: socioeconomic, business, driver, driving characteristics, safety perceptions, time of day operations, driving management, and truck configuration. A total of 521 truck drivers met the survey requirements and completed the survey.

Statistics In Transport Sector As Of March Of The Year 2020)
This dataset falls under the category Individual Transport.
It contains the following data: This report provides information on road and inland water transportation of persons and goods, driving schools, and freight forwarders from January to March 2019.. The data can be accessed using the following URL / API Endpoint: https://rura.rw/fileadmin/Documents/transport/statistics/Transport_Statistics_Report_as_of_March_2019.pdf
This dataset was scouted on 02/06/2022 as part of a data sourcing project conducted by TUMI. License information might be outdated: Check original source for current licensing. See URL for data access and license information.

In a 2020 survey, over ** percent of the respondents from the European transport industry stated that changes in transport demand or volume in the market are the main reason for expected price changes in the European road transport market.

Graph and download economic data for Producer Price Index by Industry: General Freight Trucking, Long-Distance Truckload (PCU484121484121) from Dec 2003 to Aug 2025 about freight, trucks, PPI, industry, inflation, price index, indexes, price, and USA.

Snapshot img { margin: 10px !important; } Market overview of IoT in the transportation sector

Technavio’s market research analyst predicts the global IoT market in the transportation sector to grow at a CAGR of almost 17% by 2020. One of the primary drivers for this market is the rising need to automate transportation management systems. Automated transport management solutions increase safety, security, and visibility, the efficiency of tracking systems, and also reduce the transportation costs. The IoT-enabled smart devices help to manage the logistics operations by monitoring and tracking real-time vehicle position in the supply chain management system. The increasing adoption of intelligent transportation management solution in the transportation sector will augment growth in this market during the forecast period.

Another interesting trend that is anticipated to have an impact on this market is the growing use of intelligent transportation systems (ITS). The ITS use a set of integrated technologies such as communication systems, sensors, and smart devices to connect the transportation system in a real-time environment. The incorporation of intelligent systems and IoT solutions in the transportation sector enables vehicles to transfer message and signals to other vehicles for tracking and monitoring on a real-time basis. The integration of ITS with IoT applications help to sense the data from surroundings and increases safety in passenger and commercial vehicles.

Segmentation by modes of transport and analysis of the IoT in transportation market

Road transportation
Railway transportation
Air transportation
Marine transportation

The IoT market in road transportation system dominated the market in 2015 and accounted for around 29% of the overall market revenue. IoT solutions help to provide real-time data about transport vehicles. Vendors are integrating connected vehicles with IoT applications to track vehicle location. IoT solutions enhance road transportation system through intelligent IT solutions for transit management and smart traffic management systems. IoT applications integrated with analytics solutions are used to gather and analyze data collected from smart and connected devices with the help of telematics and sensor technology.

Geographical segmentation and analysis of the IoT in transportation market

Americas
APAC
EMEA

The Americas was the largest region in the IoT market in the transportation sector and occupied around 40% of the total market share during 2015. Transportation issues such as an increase in traffic congestion, environmental threats from vehicle pollutions, and passenger safety have resulted in the high adoption of IT solutions in the transportation sector in the region. Growing investments in vehicle safety applications will propel this market’s growth in the region over the next four years.

Competitive landscape and key vendors

The market is characterized by the presence of several large and medium-sized vendors. The major players in the IoT in transportation industry are focusing on M&A strategies to improve their global presence and customer reach. The market will witness the entry of many new players in the coming years with the emergence of the IoT concept. Vendors compete on the basis of technical expertise, total offerings, and the degree of superiority of their product offerings.

Key vendors in this market are –

Alcatel-Lucent
AT&T
Cisco
IBM
Intel

Other prominent vendors in the IoT market in the transportation sector are Amazon Web Services (AWS), ARM Holdings, Dell, Ericsson, GE, Google, Huawei, Microsoft, Oracle, Qualcomm, RTI, SAP, and Telefonica.

Key questions answered in the report include

What will the IoT transportation market size and the growth rate be in 2020?
What are the key factors driving the global IoT market in the transportation sector?
What are the key market trends impacting the growth of the global IoT market in the transportation sector?
What are the challenges to the IoT market growth in transportation sector?
What are the IoT applications in transportation?
Who are the key vendors in the global IoT market in the transportation sector?
What are the market opportunities and threats faced by the vendors in the global IoT market in the transportation sector?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global IoT market in the transportation sector?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

Global Industrial IoT Market: Research report 2015-2019
Global IoT Security Market 2015-2019
Global IoT Devices Market 2015-2019

Although air freight volumes in 2020 were below the 2019 level, the industry experienced a remarkable boom from 2020 onwards, largely due to the coronavirus crisis. Passenger airlines, which normally transport around half of air freight, drastically reduced their flight connections and frequencies as a result of the pandemic. As a result, the available transport capacities on the air freight market shrank considerably. This shortage enabled cargo-only airlines to push through much higher freight rates and thus significantly increase their profit margins. However, many subcontractors that cooperate with passenger airlines were also severely affected by the crisis in 2020. In the current year, revenue growth of around 0.5% to around €9.8 billion is expected due to the increasing volume of global trade. Since 2020, industry turnover has risen by an average of 13.8% per year, with the high increase in 2021 contributing significantly to this average.In the wake of global supply chain problems and increasing demand for fast transport solutions, air freight continued to grow in importance between 2020 and 2025. The increasing e-commerce boom, the trend towards faster deliveries and the shortage of alternative transport capacities - for example due to bottlenecks in sea freight - further strengthened the industry. At the same time, cargo airlines benefited from the sharp fall in crude oil prices in 2020, which reduced operating costs. However, geopolitical tensions and the war in Ukraine have acted as price drivers for crude oil since 2022, increasing costs once again. Other transport segments, such as sea freight, also felt the impact of higher costs. While sea freight is still cheaper, it often loses its price advantage due to longer transport times.Moderate annual sales growth of around 0.5% is forecast for the next five years, with expected industry sales of around €9.9 billion in 2030. Looking ahead, the industry will be increasingly characterised by society's and politicians' growing environmental awareness. Decarbonisation and stricter emissions regulations will play a central role from 2025. Air freight companies will be forced to introduce sustainability measures such as sustainable aviation fuel, lower-emission aircraft and more efficient flight routes. In addition, many players are turning to digitalisation and automation to make processes more efficient and reduce emissions. The combination of growing global networking, more regional production strategies and sustainability-driven innovations will significantly change the industry by 2030.

The freight volume carried by trucking carriers in the United States increased significantly until 2020. In that year, ***** billion tons of freight was transported by trucks in the U.S., down from ***** billion tons in 2019 - the largest value carried by trucking services registered in the period of consideration.

United States US: Share of value added by the transport sector data was reported at 3.197 % in 2021. This records an increase from the previous number of 3.063 % for 2020. United States US: Share of value added by the transport sector data is updated yearly, averaging 3.307 % from Dec 1997 (Median) to 2021, with 25 observations. The data reached an all-time high of 3.657 % in 1998 and a record low of 3.063 % in 2020. United States US: Share of value added by the transport sector data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s United States – Table US.OECD.ITF: Shared of Household Expenditure, Employment and Value Added in the Transport Sector: OECD Member: Annual. [COVERAGE] VALUED ADDED FROM TRANSPORT Data refer to value added from transportation and storage (Isic Rev.4).

Statistics In Transport Sector As Of June Of The Year 2020)
This dataset falls under the category Individual Transport.
It contains the following data: This report provides information on road and inland waterway transportation of persons and goods, driving schools, and freight forwarders from April to June 2019. The data can be accessed using the following URL / API Endpoint: https://rura.rw/fileadmin/Documents/transport/statistics/Transport_Statistics_Report_as_of_June_2019.pdf
This dataset was scouted on 02/06/2022 as part of a data sourcing project conducted by TUMI. License information might be outdated: Check original source for current licensing. See URL for data access and license information.

United States PPI: Svcs: TI: WT: Deep Sea Freight (DS) data was reported at 302.100 Jun1988=100 in Mar 2020. This records a decrease from the previous number of 302.600 Jun1988=100 for Feb 2020. United States PPI: Svcs: TI: WT: Deep Sea Freight (DS) data is updated monthly, averaging 223.650 Jun1988=100 from Jun 1988 (Median) to Mar 2020, with 382 observations. The data reached an all-time high of 320.600 Jun1988=100 in Jan 2020 and a record low of 100.000 Jun1988=100 in Jun 1988. United States PPI: Svcs: TI: WT: Deep Sea Freight (DS) data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.I064: Producer Price Index: by Industry: Services: Transportation & Warehousing.

This statistic depicts the average total marginal costs per mile for freight trucking in the United Sates between 2008 and 2020, broken down by segment. In 2020, the less-than-truckload segment reported average marginal costs of **** U.S. dollars per mile.

Snapshot img

The transport refrigeration units market size has the potential to grow by USD 2.68 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (food and beverages, pharmaceuticals, and others), mode of transportation (land route, sea route, and air route), and geography (North America, Europe, APAC, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Carrier Global Corp., China International Marine Containers (Group) Co. Ltd., Daikin Industries Ltd., Great Dane LLC, Hubbard Products Ltd., Ingersoll Rand Inc., Jean CHEREAU SAS, LAMBERET SAS, LAMILUX Heinrich Strunz Holding GmbH & Co. KG, and Mitsubishi Heavy Industries Ltd.

Market Overview

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Market Competitive Analysis

The market is fragmented with the presence of international and regional vendors. Many new vendors are entering the market. However, they are finding it difficult to sustain in the sector due to tough competition from the international players, particularly in terms of quality, features, functionalities, and services. The competitiveness in the market is likely to increase during the forecast period with product innovations, technological advances, and mergers and acquisitions. Carrier Global Corp., China International Marine Containers (Group) Co. Ltd., and Daikin Industries Ltd. are some of the major market participants. Although the increase in online purchases will offer immense growth opportunities, the unavailability of skilled operators will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this transport refrigeration units market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this transport refrigeration units market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

Carrier Global Corp. China International Marine Containers (Group) Co. Ltd. Daikin Industries Ltd. Great Dane LLC Hubbard Products Ltd. Ingersoll Rand Inc. Jean CHEREAU SAS LAMBERET SAS LAMILUX Heinrich Strunz Holding GmbH & Co. KG Mitsubishi Heavy Industries Ltd.

Transport Refrigeration Units Market: Segmentation by Geography

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APAC will offer several growth opportunities to market vendors during the forecast period. Factors such as the increase in demand for the food, pharmaceuticals, and chemical industries will significantly drive transport refrigeration units market growth in this region over the forecast period.

43% of the market’s growth will originate from APAC during the forecast period. China is a key market for transport refrigeration units in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Transport Refrigeration Units Market: Segmentation by End-user

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Factors such as the advent of ready-to-eat and ready-to-cook food products, the rising preference for on-street snacking, the increasing online purchase of edible items, and the growth in retail stores are creating demand for food, especially pre-processed food. As a result, the use of refrigeration systems has increased. Moreover, the consumption of frozen food in countries such as India, China, and Indonesia has increased owing to the rising disposable incomes, rapid urbanization, and demographic changes. This is prompting manufacturers to increase their production levels to meet the rising demand. To ensure timely and safe delivery, the global market for transport refrigeration units is expected to witness a surge in growth during the forecast period.

The transport refrigeration units market share growth by the food and beverage segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the transport refrigeration uni

United States WE: Full Time: Production, Transport & Material Moving (PT) data was reported at 738.000 USD in Mar 2020. This records an increase from the previous number of 737.000 USD for Dec 2019. United States WE: Full Time: Production, Transport & Material Moving (PT) data is updated quarterly, averaging 602.000 USD from Mar 2000 (Median) to Mar 2020, with 81 observations. The data reached an all-time high of 738.000 USD in Mar 2020 and a record low of 471.000 USD in Mar 2000. United States WE: Full Time: Production, Transport & Material Moving (PT) data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.G030: Current Population Survey: Usual Weekly Earnings.