While it may seem like just another vehicle on the highway, the semi-truck is the undeniable engine of the American economy, moving over $19 trillion in goods and generating over a trillion dollars in freight revenue annually.
Key Takeaways
- In 2023, the U.S. semi-truck industry generated $1.02 trillion in gross freight revenue, representing 82.4% of the total U.S. freight bill
- The semi-truck sector contributed $940.8 billion to U.S. GDP in 2022, supporting 8.5 million jobs indirectly
- U.S. semi-truck freight tonnage reached 11.4 billion tons in 2022, up 5.2% from 2021
- U.S. semi-truck fleet numbered 4.1 million tractors in 2023
- Average age of U.S. semi-trucks was 7.8 years in 2023, up from 6.9 in 2019
- 91% of U.S. semi-trucks were powered by diesel in 2023
- Semi-truck crash rate was 1.22 per million miles in 2022
- Large semi-trucks involved in 4,715 fatal crashes in 2021, killing 5,788 people
- 16.6% of all U.S. traffic fatalities involved semi-trucks in 2021
- U.S. semi-trucks with ADAS features reached 35% of new sales in 2023
- Autonomous semi-truck testing miles exceeded 10 million by 2023
- Electric semi-trucks sales grew 150% to 2,300 units in U.S. 2023
- U.S. semi-truck industry employed 3.55 million drivers in 2023
- Average semi-truck driver wage was $57,440 annually in 2023
- Driver shortage in semi-trucks reached 80,000 in 2023
The semi truck industry is a massive, growing economic force but faces driver shortages and safety challenges.
Economic Impact
- In 2023, the U.S. semi-truck industry generated $1.02 trillion in gross freight revenue, representing 82.4% of the total U.S. freight bill
- The semi-truck sector contributed $940.8 billion to U.S. GDP in 2022, supporting 8.5 million jobs indirectly
- U.S. semi-truck freight tonnage reached 11.4 billion tons in 2022, up 5.2% from 2021
- The average annual revenue per U.S. semi-truck carrier was $2.1 million in 2023
- Semi-truck industry paid $94 billion in federal and state taxes in 2022
- Export value of U.S. semi-trucks reached $12.5 billion in 2023
- U.S. semi-truck manufacturing output grew 7.8% to $28.4 billion in 2022
- Class 8 semi-trucks accounted for 45% of new vehicle sales worth $45.2 billion in 2023
- Fuel costs for U.S. semi-trucks totaled $172 billion in 2022, 26% of operating expenses
- Semi-truck logistics market size was valued at $512 billion globally in 2023
- U.S. semi-truck aftermarket parts market reached $45.6 billion in 2023
- Investment in semi-truck infrastructure by U.S. government was $52 billion via IIJA in 2023
- Semi-truck e-commerce freight volume grew 18% to $250 billion in 2023
- Average profit margin for large semi-truck fleets was 6.2% in 2023
- U.S. semi-truck insurance premiums totaled $38 billion annually in 2023
- Semi-truck rental and leasing revenue hit $42.7 billion in 2023
- Global semi-truck market revenue projected at $287 billion by 2030, CAGR 4.2%
- U.S. semi-truck toll revenues generated $15.4 billion in 2022
- Semi-truck industry R&D spending reached $8.9 billion in 2023
- Value of goods moved by semi-trucks in U.S. was $19.4 trillion in 2022
Economic Impact Interpretation
Despite paying nearly $100 billion in taxes and operating on famously thin margins, semi-trucks prove themselves the economic engine of the nation by moving over 80% of our freight and literally carrying a $19.4 trillion load of commerce on their backs.
Fleet Statistics
- U.S. semi-truck fleet numbered 4.1 million tractors in 2023
- Average age of U.S. semi-trucks was 7.8 years in 2023, up from 6.9 in 2019
- 91% of U.S. semi-trucks were powered by diesel in 2023
- Annual mileage per U.S. semi-truck averaged 109,000 miles in 2022
- Class 8 semi-trucks comprised 2.8 million units in U.S. fleet in 2023
- U.S. semi-truck utilization rate was 97.2% in 2023
- 26% of U.S. semi-trucks were owner-operated in 2023
- Average semi-truck capacity is 25 tons, hauling 10.5 billion tons yearly
- Refrigerated semi-trucks numbered 250,000 in U.S. in 2023
- U.S. semi-truck trailers totaled 6.2 million in 2023
- Electric semi-trucks in U.S. fleet reached 5,200 units in 2023
- Average U.S. semi-truck fuel efficiency was 6.2 MPG in 2023
- U.S. semi-trucks logged 285 billion miles in 2022
- For-hire semi-trucks made up 72% of U.S. fleet in 2023
- Average semi-truck speed on interstates was 62 mph in 2023
- U.S. semi-truck maintenance costs averaged $18,500 per truck yearly in 2023
- 15% of U.S. semi-trucks equipped with ELDs by 2017 mandate, now 98% in 2023
- Tanker semi-trucks totaled 120,000 in U.S. fleet 2023
- U.S. semi-truck idle time averaged 25% of operating hours in 2023
- Large U.S. semi-truck fleets (100+ trucks) numbered 1,200 in 2023
Fleet Statistics Interpretation
America’s economy runs on a vast, graying, and relentlessly diesel-powered army of 4.1 million workhorses that are burning more fuel and years at an alarming rate, yet still somehow hauling 10.5 billion tons of our stuff with near-perfect attendance at 62 miles per hour.
Safety Records
- Semi-truck crash rate was 1.22 per million miles in 2022
- Large semi-trucks involved in 4,715 fatal crashes in 2021, killing 5,788 people
- 16.6% of all U.S. traffic fatalities involved semi-trucks in 2021
- Semi-truck rollover rate was 3.2% of crashes in 2022
- Driver fatigue caused 13% of large semi-truck crashes in 2022
- U.S. semi-truck injury crashes totaled 107,000 in 2021
- Seatbelt usage in semi-trucks rose to 98% in crashes in 2022
- Speeding contributed to 29% of fatal semi-truck crashes in 2021
- Alcohol impairment in 3% of semi-truck fatal crashes in 2021
- Semi-truck rear-end crashes accounted for 28.4% of all truck crashes in 2022
- CSA score average for semi-truck carriers was 85.2 in 2023
- Hours-of-service violations in 12% of semi-truck inspections 2023
- Brake-related defects in 25.6% of semi-truck out-of-service inspections 2023
- Vision obstruction caused 15% of semi-truck crashes 2022
- U.S. semi-truck fatality rate declined 2.3% to 0.11 per 100 million miles 2022
- Distracted driving in 8% of semi-truck involved crashes 2021
- Cargo securement violations in 14.7% of semi-truck inspections 2023
- Semi-truck tires blew out in 9.5% of roadside failures 2023
- Geometric design issues contribute to 27% of semi-truck crashes
- Semi-truck safety tech like collision mitigation reduced crashes by 40% in fleets 2023
Safety Records Interpretation
While every one of the million miles between statistics like seatbelt use soaring to 98% and brake defects grounding a quarter of trucks is a testament to an industry that is heroically patching its own sinking ship while simultaneously steering it toward a safer horizon.
Technological Advancements
- U.S. semi-trucks with ADAS features reached 35% of new sales in 2023
- Autonomous semi-truck testing miles exceeded 10 million by 2023
- Electric semi-trucks sales grew 150% to 2,300 units in U.S. 2023
- Telematics adoption in semi-trucks hit 85% of fleets in 2023
- Predictive maintenance AI reduced semi-truck downtime by 25% in 2023 trials
- Semi-truck fuel efficiency improved 2.1% to 6.5 MPG via aero kits 2023
- Level 4 autonomous semi-trucks operated 500,000 commercial miles by 2023
- Hydrogen fuel cell semi-trucks tested totaled 50 units in U.S. 2023
- ELD mandate compliance via GPS reached 99% in semi-trucks 2023
- Semi-truck camera systems reduced backing accidents 65% in 2023 studies
- 5G connectivity in semi-trucks enabled platooning tests covering 1M miles 2023
- LED lighting adoption in new semi-trucks was 92% in 2023
- Big data analytics optimized semi-truck routes saving 10% fuel 2023
- Semi-truck battery range averaged 300 miles for electric models 2023
- IoT sensors in semi-trucks numbered 50+ per truck in top fleets 2023
- VR training for semi-truck drivers reduced errors 30% in 2023
- Blockchain for semi-truck freight tracking piloted in 20% carriers 2023
- Semi-truck engine emissions cut 95% via SCR tech by 2023 standards
- AR dashboards in semi-truck prototypes improved navigation 22% 2023
Technological Advancements Interpretation
The semi truck is no longer just a diesel brute, but a data-crunching, efficiency-obsessed, and increasingly autonomous mobile laboratory that's finally getting its act together, one connected sensor at a time.
Workforce and Employment
- U.S. semi-truck industry employed 3.55 million drivers in 2023
- Average semi-truck driver wage was $57,440 annually in 2023
- Driver shortage in semi-trucks reached 80,000 in 2023
- 94.1% of U.S. semi-truck drivers were men in 2023
- Turnover rate for semi-truck drivers was 94.4% annualized in 2023 Q1
- Semi-truck mechanics numbered 250,000 in U.S. 2023
- Average age of semi-truck drivers was 46 years in 2023
- 12% of semi-truck drivers were over 60 years old in 2023
- Training hours for new semi-truck drivers averaged 160 hours in 2023
- Women semi-truck drivers grew to 8.1% of workforce in 2023
- Semi-truck dispatcher jobs totaled 45,000 with median pay $49,670 in 2023
- Unionized semi-truck drivers were 12.5% of total in 2023
- Hours worked per week by semi-truck drivers averaged 55 in 2023
- Injury rate for semi-truck drivers was 3.2 per 100 workers 2023
- Benefits coverage for semi-truck drivers was 68% health insurance 2023
- Minority semi-truck drivers reached 42% in 2023
- Entry-level semi-truck driver pay averaged $0.45 per mile in 2023
- Semi-truck industry added 50,000 jobs in 2023
- Remote dispatch roles in semi-trucks grew 15% to 20,000 in 2023
- Semi-truck driver certification pass rate was 82% in 2023 CDL tests
- Overtime pay for semi-truck drivers averaged 20% of total compensation 2023
- Semi-truck workforce training investment was $2.5 billion in 2023
Workforce and Employment Interpretation
It appears the American trucking industry is desperately trying to drive forward while simultaneously slamming on the brakes, with nearly all drivers being men, nearly all of them leaving each year, and a desperate shortage chasing behind them all the way.
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