Trucking Market Segmentation by Fleet Size

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Trucking Market Segmentation by Fleet Size

General:

Revenue:
  • $796.7 billion in gross freight revenues (primary shipments only) from trucking, representing 80.3% of the nation’s freight bill in 2018.
  • 36 million trucks registered and used for business purposes (excluding government and farm) in 2017, representing 24% of all trucks registered.
  • 3.68 million Class 8 trucks (including tractors and straight trucks) in operation in 201, nearly unchanged from 2016.
  • 7.8 million people employed throughout the economy in jobs that relate to trucking activity in 2018, excluding the self-employed
  • 3.5 million truck drivers employed in 2018 (almost unchanged from 2017)
Approximately 5.8% of all full-time jobs in America are related to trucking

Analysis of the size and scope of each trucking market segment (looking at the number of tractors to haul trailers, excluding local delivery trucks):

1000+
  • An estimate of 45 companies with fleets over 1,000 tractors
  • Largest segment of the market in terms of revenue and total vehicles
500-999
  • An estimate of 96 companies with fleets between 500-999 tractors
100-499
  • An estimate of 500+ companies with fleets between 100-499 tractors
Less than 100
  • No clear data to show the size of companies with fleets under 100 tractors

Analysis of top companies in each trucking market segment (looking at the number of tractors to haul trailers, excluding local delivery trucks):

1000+

Penske
  • Fleet: 20,142 tractors and 12,747 trailers
  • Based in Reading, PA
  • Total Vehicles: 43,235
  • Penske Corporation is a closely-held, diversified, on-highway, transportation services company whose subsidiaries operate in a variety of industry segments, including retail automotive, truck leasing, transportation logistics and professional motor sports. Penske Corporation manages businesses with consolidated revenues of more than $32 billion, operating in over 3,200 locations and employing more than 64,000 people worldwide.
  • As a result of an “unexpected loss of a fair market bid with Ford Motor Co.”, Penske notified about 120 workers at its cross-dock facility in Coldwater, Michigan, that it will be permanently closing the operation effective April 30.
  • Fleet: 21,795 tractors and 73,792 trailers
  • Based in Phoenix, AZ
  • Total Vehicles: 21,830
  • Knight-Swift Transportation Holdings Inc. (Knight-Swift) is the result of the merger between Knight Transportation, Inc. and Swift Transportation Company. As the industry's largest full truckload company, they serve a wide range of customers in a broad array of industries, with a full complement of truckload and logistics services throughout the US, Mexico and Canada.
  • A thriving business with a Q4 2019 net income of $67.4 million (a 55.5 % increase from Q4 2018) and Adjusted Net Income of $93.5 million (a 42.6 % increase from Q4 2018).

500-999

  • Fleet: 961 tractors and 4319 trailers
  • Based in Forest Park, GA
  • Total Vehicles: 969
  • An Irregular Route Common and Contract Carrier which specializes in providing integrated transportation and logistics solutions to the retail and consumer products industries nationwide.
  • Custom logistics solutions, streamlined supply chain from point of origin to point of destination, 48 state truckload, and dedicated fleet services.

100-499

  • Fleet: 433 tractors and 175 trailers
  • Based in Commerce, CA
  • Total Vehicles: 1,003
  • TCI provides specialized equipment, drivers, management and the latest cost-effective technology.
  • Organized into 2 business units: TCI Leasing offers customers Full Service Truck Leasing, Truck Rental, Contract Maintenance, and Pre-Owned Truck Sales. TCI Transportation offers Dedicated Transportation Services and Truckload Transportation Services.
  • Looking to the future with electric trucks — "Tesla Semi secures large order of 50 electric trucks from a truck renting and leasing company"

Less than 100

  • Fleet: 65 tractors and 129 trailers
  • Based in Jasper, IN
  • Total Vehicles: 359
  • 75 docks and distribution centers nationwide
  • Meyer Logistics is a specialized transportation company providing warehousing and logistical services Nationwide. Meyer Logistics also serves as the backbone of Meyer Distributing's vast distribution network.

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