Keep on truckin': The industry will grow as the economy recovers and trade increases

The Long-Distance Freight Trucking industry has experienced modest growth over the past five years as the economy has begun to recover. However, the slow pace of this recovery and subpar industrial output have caused demand for industry services to remain relatively weak. The industry has also experienced rising competition from external industries. Low barriers to entry and weakened downstream demand have intensified price competition. Over the next five years, although increased trade, manufacturing and retail activity will stimulate growth during this period, competition from other modes of transportation will continue to curb industry revenue...read more.

Industry Statistics & Market Size
Revenue
$24bn
Annual Growth 13-18
2.1%
Forecast Growth 18-23
Profit
Employment
89,655
Businesses
30,647
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Increased competition from other modes of transportation will continue to curb industry revenue
  • The industry experiences competition from rail, water and air transportation
  • Economic growth in the United States will increase trade activity, bolstering industry revenue growth
  • Industry Report - Industry Analysis Chapter

    The Long-Distance Freight Trucking industry in Canada has hit a few bumps in the road in recent years, though the industry is estimated to experience relatively stable revenue growth over the five years to 2018. During the first half of the five-year period, many downstream clients maintained limited inventory stock in an attempt to reduce costs, constraining Canadian manufacturing activity and hampering demand for industry services. Moreover, while economic recovery has stimulated industrial production and consumer spending in recent years, sharp declines in the world price of crude oil have limited the ability of industry operators to generate revenue through fuel surcharges. Overall, industry revenue is estimated to increase at an annualized rate of 2.1% to $23.8 bi...purchase to read more.

    Additional Insights for the Long-Distance Freight Trucking Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Long-Distance Freight Trucking Industry are

  • Market research and understanding
  • Output is sold under contract - incorporate long-term sales contracts
  • Ensuring pricing policy is appropriate
  • IBISWorld analysts also discuss how external factors such as Total retail sales and Total trade value in the Long-Distance Freight Trucking industry impact industry performance..

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    What's in this report

    What is the Long-Distance Freight Trucking Industry?

    This industry provides long-distance general freight trucking between metropolitan areas. The industry provides truckload services as well as less-than-truckload services. The movement of specialized freight is not included in this industry, though many operators generate marginal revenue through specialized freight activities.

    Industry Products
  • Truckload carriers
  • Less-than-truckload carriers
  • Climate-controlled carriers
  • Industry Activities
  • Long-distance truckload transportation
  • Long-distance less-than-truckload (LTL) transportation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Total retail sales
  • Total trade value
  • Industrial capacity utilization
  • External competition for the Truck Transportation sector
  • World price of crude oil

  • Current Performance
  • Low-speed recovery
  • Continual competition
  • Just-in-time
  • Chart: Revenue Growth

  • Industry Outlook
  • Oil prices and competition
  • Employment pressure
  • Table: Long-Distance Freight Trucking Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Long-Distance Freight Trucking Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Construction In Canada
  • Manufacturing In Canada
  • Wholesale Trade In Canada
  • Retail Trade In Canada
  • Freight Forwarding Brokerages & Agencies in Canada

  • Key Selling Industries
  • Auto Parts Stores in Canada
  • Fuel Dealers in Canada
  • Gasoline & Petroleum Wholesaling in Canada
  • Tire Dealers in Canada
  • Truck & Bus Manufacturing in Canada
  • Truck, Trailer & Motor Home Manufacturing in Canada

  • Products & Services
  • Truckload carriers
  • Other
  • Less-than-truckload carriers
  • Climate-controlled carriers
  • Chart: Long-Distance Freight Trucking Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Domestic market
  • Foreign market
  • Internal market
  • Chart: Major Market Segmentation for the Long-Distance Freight Trucking Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesDepreciation and marketingOther
  • Chart: Cost Structure Benchmarking – Sector vs Long-Distance Freight Trucking

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Long-Distance Freight Trucking Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Long-Distance Freight Trucking Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Long-Distance Freight Trucking Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Total trade value (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Delivered In-Full And On-Time (Difot)
  • A measurement of delivery performance in a supply chain that evaluates how often customers get what they want at the time they want it.
  • Fuel Surcharge
  • An additional charge introduced by transportation operators to cover the increased cost of fuel.
  • Just-In-Time (Jit)
  • A strategy implemented to improve profitability by reducing inventory and purchasing raw materials needed for the immediate term only.
  • Less-Than-Truckload (Ltl)
  • Truck shipments weighing between 45 kilograms and 4,536 kilograms.
  • Truckload
  • Truck shipments weighing more than 4,536 kilograms and generally carried by semi-trailers.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Long-Distance Freight Trucking market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Long-Distance Freight Trucking:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Long-Distance Freight Trucking market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Long-Distance Freight Trucking, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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