Keeping up-to-date on trucking industry statistics may not be one of the top priorities for owners of small trucking companies; you’re busy, busy, busy, and probably don’t have much time to look up trucking industry trends. However, some of these statistics may put you at ease, like knowing that the average company profit is only 4.8%; this allows you to compare your management style and performance against peers or competitors. And seeing the astonishing amount of freight transported annually renews your sense of pride in your chosen trade.
According to trucking industry statistics published by American Transportation Research Inc. (ATRI), most companies spend 95.2% of their revenue on operating expenses. Of course, this includes the driver, fuel, taxes and other costs of doing business. Our easy-to-use TruckingOffice software, designed especially for trucking operations, quickly provides this information with a few keystrokes.
Employment and Company Size
Based on the 2011 ATRI report, drivers comprise 61% of this workforce, and 82% of the companies are small, but this industry is growing despite the slow economy. The average driver makes $39,000 a year. One of the trucking industry trends shows a possible shortage of drivers in the future; this may be caused by increased government regulations and mandatory off time. Even though only 4% of truck accidents occur due to fatigue, truckers are facing more and more restrictions on the hours they can work. Although there were 500,000 trucking companies, 96% had 28 trucks or fewer, and 82% operate with less than 6 trucks. This is an industry of small, independent operators.
Volume of Freight
In the United States, trucking accounts for almost 70% of freight. This freight generates over $255 billion in revenue a year. Commercial carriers collect over $97 billion, while private fleets earn in excess of $121 billion. Airfreight generates $18 billion.
In the day-to-day struggle to get everything done, you might often overlook the big picture. According to trucking industry statistics, most freight companies are small operations making a small profit, but the trucking industry itself is a multibillion-dollar business.