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General Freight Trucking (Truckload) - Industry Market Research Report

General Freight Trucking (Truckload) - Industry Market Research Report

  • June 2021
  • 36 pages
  • ID: 6106684
  • Format: PDF
  • Ibisworld

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Volatile cargo: Fuel price fluctuations and driver shortages have complicated the industry’s growth

Abstract

General Freight Trucking (Truckload)
Demand for the services of the General Freight Trucking (Truckload) industry has expanded over the past five years, as consumer spending and the industrial production index have grown. Diesel prices fell rapidly between 2014 and 2016, resulting in rising profit but lower surcharge revenue. In recent years, a shortage of drivers has challenged the industry, as demand has exceeded the supply of drivers and operators. This has stimulated a rapid increase in industry wages and the number of industry operators during the period. Over the next five years, IBISWorld expects industry revenue to continue to rise. Moving forward, trucking will continue to be the most widely used mode of freight transportation. As demand for industry services continues to increase, the driver shortage is expected to continue, leading industry wages to rise as a share of revenue, constraining profitability.

This industry comprises operators that provide freight truckload trucking. These general freight truckload carriers provide full-truck movement of freight from origin to destination. The shipment of freight on a truck is characterized as a full single load not combined with other shipments.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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