Truckload Carriers
Companies in this industry provide long-distance transportation by truck of general freight, in which freight from a single shipper makes up a truckload. Major companies include JB Hunt, Schneider National, Swift Transportation, and Werner Enterprises (all based in the US), along with TFI International (Canada).
The global freight trucking market is forecast to reach about $4.5 trillion by 2031, growing at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2031, according to Allied Market Research. However, the strong demand during the pandemic appears to be waning, as inflation and sagging consumer sentiment slow an inventory restocking rush that has swamped distribution networks, according to data from the Wall Street Journal.
The US truckload carriers industry includes about 40,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $115 billion.
Full truckload (TL) shipments have trailers dedicated to a single shipper's cargo. In contrast, less-than-truckload (LTL) carriers transport the consolidated cargo of several shippers on one truck, dropping goods off at multiple delivery points. LTL carriers are covered in a separate industry profile.
Competitive Landscape
Demand is driven by consumer spending and manufacturing output. The profitability of individual companies depends on efficient operations. Large companies have advantages in account relationships, bulk fuel purchasing, fleet size, and access to drivers. Small operations can compete effectively by providing quick turnaround, serving a local market, or transporting unusually sized goods. The US industry is fragmented: the 50 largest companies account for about 40% of industry revenue.
Trucking competes with other forms of cargo transportation, including rail, air, and water. However, the shift toward intermodal transportation means that these modes of delivery are often more complementary than competitive.
Products, Operations & Technology
A truckload (TL) customer typically loads a trailer full (or nearly full); the carrier then transports the container, and a receiver unloads the contents.
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Sales & Marketing
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Finance & Regulation
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Regional & International Issues
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms