Key Takeaways
- In 2023, the U.S. commercial trucking industry moved 72.5% of the nation's freight by value, totaling over $10 trillion in goods.
- The global commercial truck market size was valued at $567.6 billion in 2022 and is projected to reach $789.4 billion by 2030, growing at a CAGR of 4.2%.
- U.S. Class 8 truck sales reached 266,400 units in 2023, marking a 12% increase from 2022.
- U.S. average truckload spot rate was $2.10 per mile in Q4 2023.
- For-hire carriers operated 92% of U.S. truck miles in 2022.
- Average U.S. truck fleet size for large carriers was 1,200 trucks in 2023.
- The U.S. trucking industry employs 3.55 million drivers, with 2.1 million long-haul.
- Average truck driver salary in U.S. was $59,500 in 2023.
- Driver shortage projected at 82,000 in 2024 for U.S. carriers.
- U.S. large truck fatal crash rate was 0.60 per 100 million miles in 2022.
- 4,876 large trucks involved in fatal crashes in 2022, killing 5,183 people.
- Truck occupant fatalities decreased 2% to 859 in 2022.
- U.S. trucks emitted 380 million metric tons CO2 in 2022.
- Diesel trucks average 6.5 mpg, improving 1.5% annually.
- 15% of new Class 8 trucks sold with natural gas engines in 2023.
The commercial truck industry remains vital for the economy but faces driver shortages and rapid technological change.
Fleet Operations
- U.S. average truckload spot rate was $2.10 per mile in Q4 2023.
- For-hire carriers operated 92% of U.S. truck miles in 2022.
- Average U.S. truck fleet size for large carriers was 1,200 trucks in 2023.
- Trucks traveled 332.1 billion miles on U.S. highways in 2022.
- Single-trailer tractor-trailers accounted for 64.1% of truck miles in 2022.
- U.S. private fleets account for 61.4% of all trucks but only 22.9% of miles.
- Average age of U.S. Class 8 trucks is 7.1 years in 2023.
- Combination trucks represented 5.2% of registered vehicles but 28.9% of miles traveled.
- U.S. for-hire trucking average annual mileage per truck was 109,000 miles in 2022.
- Straight trucks made up 95% of single-unit trucks, traveling shorter distances.
- U.S. truck utilization rate averaged 96% for loaded miles in 2023.
- Multi-trailer trucks accounted for 2.4% of miles but higher ton-miles.
- Average U.S. carrier operates 50 trucks on average in 2023.
- Trucks under 26,001 lbs GVW traveled 71.7 billion miles in 2022.
- U.S. drayage trucks handled 40% of port container moves in 2023.
- Average empty mile percentage for U.S. trucks was 19% in 2023.
- Heavy-haul trucks over 80,000 lbs GVW traveled 12.5 billion miles.
- U.S. regional haulers average 500-800 miles per trip.
- Tanker trucks represented 6% of U.S. fleet in 2023.
- U.S. truck OOS rate was 22.4% during inspections in 2023.
- Long-haul trucks over 500 miles account for 25% of shipments.
- U.S. flatbed trucks make up 15% of specialized fleet.
- Refrigerated trucks (reefers) traveled 8.2 billion ton-miles in 2022.
- U.S. average truck speed on interstates was 55 mph in 2023.
- Bulk commodity haulers dominate 40% of ton-miles.
- U.S. truck driver turnover rate for large carriers was 94% annualized in 2023.
Fleet Operations Interpretation
Industry Overview
- In 2023, the U.S. commercial trucking industry moved 72.5% of the nation's freight by value, totaling over $10 trillion in goods.
- The global commercial truck market size was valued at $567.6 billion in 2022 and is projected to reach $789.4 billion by 2030, growing at a CAGR of 4.2%.
- U.S. Class 8 truck sales reached 266,400 units in 2023, marking a 12% increase from 2022.
- The trucking industry in the U.S. employs 3.55 million truck drivers as of 2023.
- Freight revenue from U.S. trucking hit a record $940.8 billion in 2022.
- Medium-duty truck market in North America was valued at $32.4 billion in 2023.
- The European commercial vehicle market grew by 7.5% in 2023, reaching 2.9 million units.
- U.S. for-hire trucking carriers operated 1.8 million trucks in 2022.
- China's heavy-duty truck sales surged to 1.15 million units in 2023.
- The U.S. truckload segment accounted for 68% of trucking revenue in 2022.
- Less-than-truckload (LTL) market in the U.S. was valued at $80 billion in 2023.
- Global electric truck market expected to grow from $1.8 billion in 2023 to $57.5 billion by 2030.
- U.S. private truck fleets numbered 10.2 million vehicles in 2022.
- Indian commercial vehicle industry produced 983,000 units in FY2023.
- Brazil's truck market sales reached 152,600 units in 2023.
- U.S. trucking industry supports 26 million jobs indirectly through supply chain in 2023.
- Autonomous truck market projected to reach $1.7 trillion by 2035 globally.
- U.S. heavy-duty truck registrations grew 5.2% to 4.1 million in 2022.
- Japan's commercial truck production was 456,000 units in 2023.
- Mexico's heavy truck sales hit 50,200 units in 2023.
- U.S. carrier truck tonnage index rose 2.1% in 2023.
- Global truck leasing market size was $112 billion in 2023.
- U.S. vocational truck segment sales were 92,000 units in 2023.
- South Korea's truck exports reached 78,000 units in 2023.
- U.S. trucking fuel costs averaged $58 billion annually in 2023.
- Australia commercial vehicle sales totaled 58,900 units in 2023.
- Russia truck production was 112,000 heavy-duty units in 2023.
- U.S. intermodal trucking handled 15 million containers in 2023.
- Canada truck market sales grew 8% to 145,000 units in 2023.
Industry Overview Interpretation
Safety
- U.S. large truck fatal crash rate was 0.60 per 100 million miles in 2022.
- 4,876 large trucks involved in fatal crashes in 2022, killing 5,183 people.
- Truck occupant fatalities decreased 2% to 859 in 2022.
- 74% of large truck fatal crashes involved a single tractor-trailer.
- Rollover crashes accounted for 17% of large truck occupant deaths in 2022.
- Driver fatigue cited in 13% of fatal large truck crashes.
- U.S. large trucks had 471,000 injury crashes in 2022.
- Speeding involved in 29% of large truck fatal crashes.
- Underride crashes caused 312 fatalities in truck crashes 2017-2021.
- ELD compliance reduced HOS violations by 50% post-2017 mandate.
- CSA scores improved for 85% of carriers post-safety tech adoption.
- Brake-related violations in 25% of truck OOS inspections.
- Distracted driving in 8% of large truck crashes.
- Cargo securement failures in 15% of injury crashes.
- Nighttime large truck fatal crashes 20% higher rate.
- Alcohol impairment in 3% of truck drivers in fatal crashes.
- Collision avoidance tech reduced rear-end crashes by 50%.
- Tire blowouts cause 11,000 crashes annually.
- Interstate highways saw 57% of large truck fatal crashes.
- Seatbelt usage by truck drivers 98% in crashes with fatalities.
- HOS violations dropped to 14.6% post-ELD.
- 69% of truck-passenger vehicle crashes are passenger vehicle at fault.
- Fire incidents in 1.9% of large truck crashes.
- Speed limiters could prevent 1,385 truck crashes yearly.
- Vision blockers in 30% of truck turning crashes.
- Telematics adoption in 60% of fleets reduced accidents 20%.
Safety Interpretation
Technology
- U.S. trucks emitted 380 million metric tons CO2 in 2022.
- Diesel trucks average 6.5 mpg, improving 1.5% annually.
- 15% of new Class 8 trucks sold with natural gas engines in 2023.
- Autonomous trucking pilots logged 45 million miles by 2023.
- Telematics systems installed in 70% of U.S. fleets over 100 trucks.
- Electric trucks charged 2.5 GWh in U.S. commercial ops 2023.
- Predictive maintenance AI cuts downtime 25% in fleets.
- Hydrogen fuel cell trucks reached 500 units globally in 2023.
- ADAS features in 45% of new medium-duty trucks.
- Fuel efficiency standards Phase 2 save $120B by 2027.
- V2V communication tested to cut congestion 20%.
- LNG trucks number 35,000 in North America 2023.
- Digital dash cams with AI in 55% of top 500 carriers.
- Battery-electric trucks range averaged 250 miles in 2023.
- Platooning tech saves 7% fuel in trials.
- Retrofit kits for emissions cut NOx 90%.
- 5G connectivity in trucks enables real-time routing for 40% fleets.
- Aerodynamic devices standard on 80% new Class 8 trucks.
- Remote diagnostics used by 65% fleets, uptime +15%.
- Propane trucks 28,000 in U.S. vocational use.
- Level 4 autonomy approved for hub-to-hub ops in Texas 2023.
- Smart tires with sensors in 20% premium fleets.
- GHG Phase 3 rules target 25% efficiency gain by 2030.
Technology Interpretation
Workforce
- The U.S. trucking industry employs 3.55 million drivers, with 2.1 million long-haul.
- Average truck driver salary in U.S. was $59,500 in 2023.
- Driver shortage projected at 82,000 in 2024 for U.S. carriers.
- 78% of U.S. truck drivers are over 45 years old in 2023.
- Women represent 8.1% of U.S. professional truck drivers in 2023.
- Average tenure for U.S. truck drivers is 5.2 years with current carrier.
- 94.1% turnover rate for large truckload carriers in Q2 2023.
- Entry-level drivers earn $45,000 annually on average in 2023.
- 1.2 million CDL holders are underutilized in 2023.
- Hispanic drivers comprise 25% of U.S. trucking workforce.
- Training costs per new driver average $7,000-$10,000 in 2023.
- 60% of drivers cite pay as top reason for leaving jobs.
- U.S. requires 160,000 new drivers annually to replace retirees.
- Owner-operators number 450,000 in U.S., 10% of workforce.
- Benefits satisfaction among drivers is 65% for health insurance.
- 42% of drivers work 60+ hours per week in 2023.
- CDL training schools graduated 45,000 drivers in 2023.
- Driver age median is 47 years in U.S. trucking.
- 30% turnover attributed to work-life balance issues.
- Unionized drivers are 12% of workforce, higher pay by 15%.
- Foreign-born drivers 18% of total U.S. drivers.
- Overtime pay averages $1.50 above base for drivers.
- 25% of new hires quit within first 90 days.
- Independent contractors earn $2.00-$2.50 per mile gross.
- Safety bonus incentives used by 70% of fleets.
Workforce Interpretation
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