US Trucking Industry - Logistics
While there is no information in the public domain that offers the precise market size and market share of the logistics segment of the US trucking industry, there are sufficient statistics available to provide a rough estimate. The estimated market size of the logistics segment of the US trucking industry is $301 billion, while its market share is about 43%.
Market Size of the Logistics Segment in the US Trucking Industry
- As of the year 2018, the market size of the logistics segment of the US trucking industry is approximately $301 billion. [calculations available below]
- Total business logistics costs in the United States reached $1.64 trillion in 2018, representing a growth of 11.4% over the previous year, as reported by DC Velocity. Transportation, including the trucking segment, contributed $1.037 trillion of this total.
- Transportation costs for the full truckload, less-than-truckload, and private/dedicated segments rose by 7.6%, 8.3%, and 13.1%, respectively, over 2017. The total costs for motor carriers, which includes large trucks transporting goods, serving the logistics industry increased by 10.1% during this time frame to reach $668.8 billion.
- In 2018, full truckload transportation costs accounted for $296.1 billion of the total business logistics costs in the United States, according to a 2019 report from DC Velocity. The less-than-truckload segment contributed $71.8 billion. Meanwhile, costs for the private/dedicated segment reached $300.9 billion.
- Costs for intermodal transportation, which typically involves two methods of transportation (e.g., truck, rail, etc.) hit $27 billion in 2018, indicating a 28.7% increase over 2017.
- The 2018 net revenue in the United States for third-party logistics providers (3PLs), which services the transportation industry, was $213.5 billion.
Market Share of the Logistics Segment in the US Trucking Industry
- According to Freight Waves, trucking contributed to roughly 43% of the global logistics industry's market size in 2018, which was about $9.6 trillion. It is reasonable to assume that this percentage is similar to its share of the logistics sector in the United States.
- The logistics/trucking sector maintains a 35% share of the transport and logistics industry.
After an exhaustive search through credible sources, we were unable to find the exact market size or market share of the logistics segment of the US trucking industry. These sources included statistical websites such as Statista and news and media sources such as Wall Street Journal, PRNewswire, etc.
We also searched through trucking/transportation and logistics, as well as supply chain, industry-related sources like Freight Waves, BR Williams, DC Velocity, Logistics Management, Heavy Duty Trucking (Trucking Info), and Transport Topic, among many others. None of the sources we visited definitively stated the market size and market share of the logistics segment of the US trucking industry.
Furthermore, we attempted to utilize articles, studies, and reports published by trucking associations in the United States, including the American Trucking Associations and the National Association of Small Trucking Companies (NASTC), among others, as well as professional logistics organizations and associations such as the American Production & Inventory Control Society (APICS). Again, we could not locate any statistics surrounding the market size and market share of the logistics segment of the US trucking industry.
Most of the sources we reviewed primarily referred to trucking as a segment of the logistics industry, as opposed to the opposite, or discussed the transportation and logistics industry as if they were one category. However, we came across some statistics and made a few assumptions to enable us to offer an estimate of the segment to present as a proxy.
A report published by Freight Waves stated that in the year 2018, the global logistics market reached a value of approximately $9.6 trillion. Of this amount, the trucking segment accounted for a reported 43% of the global logistics industry in 2018, amounting to around $4.132 trillion, which we assume is similar to its share in the United States. We can also assume that the trucking segment's share of the logistics market globally can be applied to the share of logistics costs in the trucking industry in the United States. Below, we have detailed our calculations using these figures to estimate the market size and market share of the logistics segment of the US trucking industry.
To estimate the market size and market share of the logistics segment of the US trucking industry, we simply multiply trucking's share of the US/global logistics sector's market size (43%) by the market size of the US trucking industry ($700 billion). We adopted the following formula for our calculation: market segment = industry market size * segment market share. Therefore, our calculation goes as follows:
- $700 billion * (43% or 0.43) = $301 billion
Hence, we assume that, according to our calculations, the market size of the logistics segment of the US trucking industry amounts to about $301 billion.