10 Fast Facts About the Trucking Industry

The trucking industry is the backbone of the American economy. From the food we purchase off grocery store shelves to the lumber used to build new homes, our daily needs depend on the health of the trucking industry.

Behind the scenes, the trucking industry runs thanks to a network of dedicated individuals. Drivers undertake miles of the open road to ensure deliveries are made on time while fleet managers keep their fingers on the pulse of the company's logistics. Countless others work together to keep the industry moving forward.

It’s important to understand the incredible power of this industry. Let’s take a look at ten fast facts that highlight the critical importance of the trucking industry, as well as the issues the industry faces today.

#1: It generates significant revenue.

In 2020, the US freight trucking industry generated $732.3 billion in revenue (Statista).

At over $700 billion in revenue, the trucking industry is one of the nation’s largest revenue streams. Not only does the country rely on the trucking industry to move and deliver goods, but this industry also helps create a stronger economy. The numbers show that the trucking industry is a significant contributor to the entire country's health.

#2: It’s a major employer.

7.65 million people were employed in jobs related to trucking activity in the US in 2020 (Trucking.org).

Not only does the trucking industry generate significant revenue in the US, but it is a major employer. Beyond just the drivers responsible for the operation of commercial trucks, numerous employees are working behind the scenes every day to ensure that freight is transported safely and efficiently. Without the trucking industry, many would be without an important income stream.

#3: It represents the bulk of the nation’s freight bill.

At $732.3 billion in gross freight revenues from trucking, this industry represents 80.4% of the nation’s freight bill in 2020 (Trucking.org).

There is a wealth of opportunity for businesses in this sector as the demand for freight transportation only increases. In the years ahead, it is projected that the trucking industry will continue to handle the bulk of the nation's freight bill.

#4: It’s responsible for the majority of domestic tonnage shipped.

In 2020, 10.23 billion tons of freight were transported by trucks in the US, representing 72.5% of total domestic tonnage shipped (Trucking.org).

While there are many ways to ship goods, the trucking industry still holds its place as the primary source for domestic tonnage shipping. With nearly three-quarters of total domestic tonnage shipped by truck, it is easy to see why commercial vehicles are the backbone of the supply chain.

• The trucking industry is responsible for carrying 91% of lumber and wood, 83% of all farming and agriculture produce, 92% of prepared dairy, foods, & canned items, and 65% of pharmaceutical essentials (Target Transportation).
• The above four essential industries rely heavily on trucks to ensure their supply chains operate smoothly. These industries are responsible for providing businesses and consumers with essential products, without which day-to-day life would come to a crashing halt.

#5: It’s an important tax revenue stream.

As of January 2021, 24.4 cents in federal fuel tax is paid for each gallon of diesel fuel. Additionally, 30.3 cents is paid on average in-state fuel tax for each gallon of diesel fuel (Trucking.org).

While no one enjoys paying high taxes on fuel, this money is an important part of the country’s tax revenue stream. Without it, many infrastructure products would become underfunded, and the roads that the trucking industry relies on would fall into further disrepair.

#6: It puts millions of trucks to work.

In 2019, there were 37.9 million trucks registered and used for business purposes (excluding government and farms), which represented 23.9% of all trucks registered (Trucking.org).

Every day, truck drivers around the country rely on their rigs to help them get their daily work done. These commercial trucks handle cumbersome and varied loads, including everything from cold dairy products to heavy machinery.

#7: It’s facing a parking crisis.

Over 98% percent of drivers report having issues with safe parking. This causes them to use up more than 56 minutes of available drive-time every day simply seeking a place to park. This wasted time is equivalent to a $5,500 loss in annual compensation or, for most, a 12% pay cut (Trucking.org).

Unfortunately, each year, surveys demonstrate a continued pattern each year — a severe lack of parking is a top concern for drivers. Recently, this has become a meaningful discussion among policymakers, as the trucking industry places increased pressure on federal agencies to provide safe parking for drivers.

#8: It’s covering a lot of ground.

Each year, the trucking industry covers over 93.5 million highway miles (EZ Invoice Factoring).

Many products and goods are shipped to major ports along the Eastern and Western seaboard in the US. From here, these products must travel inland to reach businesses and consumers. All this translates to many long miles for truck drivers, with a staggering 93.5 million highway miles driven annually.

#9: It’s plagued by traffic woes.

Every year, the trucking industry loses approximately $50 billion due to traffic congestion (Trucking Research).

For most, being stuck in traffic is an inconvenience. For the trucking industry, it is a loss in profit. This ongoing issue has led to an increased focus on how technology can work to provide real-time route optimization to avoid money lost idling in traffic.

#10: It’s backed by the team at Transwest.

When choosing a trusted resource for purchasing a truck, Transwest has been a reliable partner for over 30 years.

At Transwest, we are proud to contribute to the trucking industry. We recognize the critical importance of this industry and its role in every person’s life.

If you are looking to add a new truck to your commercial fleet or are interested in purchasing your own rig to become an independent driver, our team is here to help. Talk to us today about our available inventory, ranging from day cabs to custom haulers. And, feel free to stop by one of our many locations to speak with a sales rep in person.