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Annual ATA report shows trucking revenues crossed $796B in 2018
The trucking industry saw significant growth in 2018 — more than $96 billion of growth, according to the latest American Trucking Associations American Trucking Trends report, click here to read the full article.
That report put last year’s annual revenue at $796.7 billion. In contrast, in 2017, the trucking industry drew in $700.1 billion. This revenue also accounted for the bulk of the U.S. freight bill — 80.3 percent of it. Despite trade concerns, the ongoing relationship of the North American nations buoyed such figures, with surface freight trade between both Mexico and Canada up over the year.
“2018 was a year of dynamic growth for the trucking industry,” ATA Chief Economist Bob Costello said. “Trends is a simple, one-stop resource to see where our industry is so executives and policymakers can make informed decisions about where it is going.”
Among the other findings in Trends:
- In 2018, trucks moved 11.49 billion tons of freight, 71.4% of the nation’s tonnage freight.
- Trucking’s revenues accounted for 80.3% of the nation’s freight bill.
- Trade – especially with Mexico and Canada – is very important to trucking. Trucks moved 67.4% of surface freight between the U.S. and Canada – up 3.6% in 2018 – and 83.5% of cross-border trade with Mexico, up 10.2% from the previous year.
- There are 7.8 million people employed in trucking-related jobs, up 100,000 from the previous year. This includes 3.5 million professional drivers.
- Women make up 6.6% of the industry’s drivers and minorities account for 40.4% of truckers.
- Most carriers are small companies – 91.3% of fleets operate six or fewer trucks and 97.4% operate 20 or fewer.
“ATA believes good decisions are based on good data, and Trends is full of strong data, which is why it finds a home on the desks of elected officials, regulators and executives across the supply chain,” said ATA President and CEO Chris Spear.
The report is indispensable for use by trucking companies, industry suppliers, logistics providers, analysts, public policy decision makers and many others.
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