Fleet Commercial Truck Fueling Services: Market Size

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Fleet Commercial Truck Fueling Services: Market Size

Based on the revenues of some of the largest companies offering fleet commercial truck fueling services in the US, it has been estimated that this industry has a market size of about $11.7 billion.

Fleet Commercial Truck Fueling Services: Market Size

  • The estimated market size of the US fleet commercial truck fueling services industry is $11.7 billion.
  • Ryder, a full service fueling company, had a 2018 revenue of $8.4 billion.
  • Atlas Oil, an on-site fuel service for fleet trucks, has an estimated revenue of about $2.5 billion
  • Lykins Energy Solutions, a company that offers on-site fueling for fleet commercial trucks, had a 2017 revenue of $733.9 million.
  • NOCO, a fleet fueling company, has a revenue of $53.67 million.
  • Diesel Direct, an on-site fleet fueling service, has a revenue of $31.6 million.

Fleet Commercial Trucks Fuel Economy in the US

  • Fuel costs accounts for 21% to 39% of the total cost of operating a commercial vehicle in the US. The fuel costs faced by the US trucking industry have increased from $2.31 in 2016 to $3.18 in 2018. This cost has remained relatively stable since 2018.
  • As of December 2018, the average annual fuel use of class 8 trucks in the US was 10,739 GGE (gasoline gallon equivalent), while that of refuse trucks was 9,877 GGE. The average annual fuel use of delivery trucks was 1,754 GGE. For light trucks, it was 683 GGE and for light-duty vehicles, it was 522 GGE.
  • The total number of leased class 1-5 fleet trucks and owned class 1-5 trucks in the commercial segment was 727,000 and 1,860,000 respectively in 2018.
  • In the government sector, the total number of leased class 1-5 fleet trucks and owned class 1-5 trucks was 48,000 and 1,730,000 respectively.
  • Fleets in the US registered an average mileage of 7.27 miles per gallon (mpg) in 2018. This level is forecast to reach between 8.3 to 10.1 miles per gallon soon.

Additional Information

  • There is a growing use of fuel-saving systems and procedures in the US fleet-wide fuel economy. Overall, fuel-saving technology adoption has improved to 45% among US fleets.
  • Manufacturers are now "delivering more advanced generations of existing technologies to shorten the payback period and mitigate the challenges of adoption."
  • This is partly because the United States Environmental Protection Agency (US EPA) and the National Highway Traffic Safety Administration (NHTSA) have passed greenhouse gas emissions regulations on "commercial vehicles extended to 2030 that require manufacturers to develop and sell technologies to improve efficiency."
  • The fuel-saving technologies with the highest rates of adoption among fleet commercial trucks are predictive cruise control (75.7%), shift to neutral (70.1%), LRR duals (62%), wheel covers (61.9%), real time driver coaching for fuel economy (37.5%), light paint color for solar heat absorption (35.8%), and aluminum wheels trailers (31.6%).
  • According to NACFE's Annual Fleet Fuel Study, new factors such as the current cost of fuel, potential forecast cost, increased public demand for more sustainable operations, and federal/local regulations are influencing decisions by fleets to improve efficiency.

RESEARCH STRATEGY

Using publicly accessible information, we sought the US market size of fleet commercial truck fueling services, broken out into urban, regional, and long haul in a number of ways, none of which proved sufficient to generate an exact picture of this market.
Our first strategy involved exploring trusted market research reports and industry consultancy sources including IBIS World, Market Research, and Markets and Markets. These sources offered many insights into the global fuel management systems market. However, further research revealed that this is not synonymous to the fleet fueling services market.
Next, we turned to data intelligence platforms like Statista. There, we found the market size of fleet management in the US, however, nothing beyond this data was provided. We also scanned news articles published by industry-related websites like Biomass Magazine, Trucking Info and USNI News. These publications only discussed the US fleet market and fleet industry trends. Since nothing related to fleet commercial truck fueling services was found, we sought out more creative methods of approaching this project.

First, we identified some of the largest companies offering fleet commercial truck fueling services in the US. Next, we explored their publicly disclosed financial statements and self-descriptions. We had hoped we could use this information to extrapolate a picture of the market. We found little success with this strategy. Many such companies are privately held and do not release that information and the few we could acquire did not isolate their fleet commercial truck fueling services. Since the other strategies we employed proved futile, we decided to add up the revenues we found for these companies. It is important to note that the above issues may render this estimate a little exaggerated.
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