The trucking industry is vital to the American economy. More than 70% (over $14 trillion) of goods travel across America by truck every year. Almost everything you touch, taste, or use finds its way to you by truck.
There is so much riding on the wheels of these highway haulers. Fleet managers rely on fleet tracking and other technology to manage trucking businesses. Fleet tracking is a multi-billion dollar industry of its own!
Here are some other interesting statistics and trends from the trucking industry.
Trucking Industry Insights
Almost every product consumed in America spends some time on a truck. Trucks carry over 11 billion tons of consumables along America’s highways each year. Here are more statistics from this $791 billion industry.
- Trucking companies pay over $45 billion in federal and state highway use taxes
- Each gallon of diesel fuel includes $0.24 in federal fuel taxes and 0.28 in state fuel taxes
- There are nearly 40-million registered trucks on U.S. highways
- Truck drivers drive more than 300 billion miles each year
- 91% of companies operate six trucks or fewer, 97% use fewer than 20 trucks
- There are nearly four million drivers and eight million people in related roles
Fleet Management is Key
Even the best trucking company faces challenges. One of them is managing trucks carrying shipments to various locations. Companies use transportation management tools to control costs and improve on-time deliveries.
One of the most significant benefits of fleet management systems is cost reduction. Up-to-date data improves fuel economy, reduces engine idle time, and enhances driver performance. With a robust transportation management solution, shippers and consumers realize the benefits.
Today’s technology makes tracking your trucks and their shipments more manageable than ever. Truck logistics companies like Foxconn Logistics add value to the supply chain. Their use of analytics and real-time keep trucks moving at the speed of business.
Effects of COVID-19
The global COVID-19 pandemic continues to affect the supply chain at all levels. Inventory levels continue to fluctuate. Driver availability and pandemic guidelines change regularly.
Government spending changes based on the pandemic conditions and will impact the industry into 2022.
Every industry is paying close attention to the changing economic landscape. The ever-changing trajectory of the pandemic will challenge transportation businesses. But the sector shows signs of continued resilience.
Open Roads, Growing Industry
The trucking industry continues to grow and play a vital role in the American economy. Trucks carry almost every product consumed in the United States. Combined, transportation companies make up nearly a trillion-dollar enterprise.
Consumer demand, inventory issues, and COVID-19-related circumstances will continue to challenge transportation companies. The industry is poised for continued growth in the years to come.
Logistics and transportation technology will help drive efficient and profitable operations. Transportation management systems and fleet tracking technology help control costs and manage processes regardless of external circumstances.
To learn more about the trucking and logistics industry, please explore the rest of our site.