Unheralded saviours of the modern world are the largest trucking businesses in the globe. Modern logistics, or the movement of goods from one location to another, is a thriving, sophisticated industry that is steadily expanding in size and power. After all, we've grown accustomed to ordering whatever we want online and waiting for it to arrive at our doorsteps thousands of miles away, while the hardworking men & women of the organisations you're going to visit sit back and relax. You, however, are not the primary focus of these corporations, as the input and output of raw materials and merchandise for practically every business may or may not rely on any of such trucking giants.
Before the advent of railroads, goods were transported mostly via horse-drawn carts on ground and ships on the ocean. However, the introduction of railroads facilitated rapid and far-reaching changes in the global economy. However, the introduction of the internal-combustion engine or the automobile had an even more profound effect on the industry since they allowed people to travel greater distances at a faster pace, with only really difficult terrain limiting their mobility. No longer did people have to pay for the use of animals or the services of railway corporations to transport their goods; instead, they can do it themselves, using their own truck, or contract a third party to get it for them. The military's first widespread usage of large transport trucks was in logistics during World War One. Eventually, the eighteen-wheelers we recognise today were developed.
However hard it may be for many of us to believe now, long-distance trucking used to be done without modern conveniences like air conditioning, global positioning systems, wireless internet access, and television. However, modern trucks come equipped with full cabins, complete with intimidatingly complicated controls. However, this frequently doesn't exclude such creature comforts as a TV, a place to sit, and whatever else can be crammed into a device of that size. Due to the length of time a driver may spend on the road, each of these is essential for lengthy trips. Even though some of these aren't the largest transport firms in the world, they have everything else that matters. Browse through our list of the 10 largest trucking firms in the globe below to learn more about the inner workings of these globally recognised businesses from the drivers to the executives.
People who work in the transportation sector full-time will be among the first to inform you that driving a truck is more than a job; it's a way of life. This group of supporters is often correct, and the numbers bear this out. To convey around 70% of the country's freight by weight, trucks are used, as reported by the American Trucking Associations. The transportation sector earned a staggering $726.4 billion in 2015. It would be an outright fib to claim that no American is directly or indirectly influenced by this sector of the economy.
The latest data from the FMCSA on the topic states that there are a total of 586,014 for-hire carriers in the United States, 747,781 private fleets, and 144,170 other interstate motor carriers. Despite these massive figures, only a select few corporations dominate in terms of both size and overall revenue. According to their size and annual revenue, these trucking firms make up the top 10 worldwide.
Knight-Swift, formed from the union of Knight Transportation & Swift Transportation, is the largest trucking firm in the United States. An announcement of a merger between the two corporations was made earlier this year. By September, the consolidation was complete, and the two companies were able to begin trading under a single name.
Its headquarters are in Phoenix, Arizona, and its fleet consists of 77,000 trailers plus 23,000 tractors. Many of Knight-28,000 Swift's workers are over-the-road truck drivers.
The J.B. Hunt Transport Corporation
When it comes to trucking companies in the United States, JB Hunt Transportation is the number two player. JB Hunt was founded in 1961, making it one of the younger trucking businesses in a business with multiple carriers which have been in operation for a century or more. JB Hunt, on the other hand, has shown it can expand as quickly as any of its competitors.
The current fleet size of the company is around 100,000 trailers and intermodal containers. Indeed, one hundred thousand trailers. There are almost 12,000 tractors in operation across the country that bear the distinctive golden yellow of JB Hunt. Roughly 22,000 employees are working with the firm right now.
XPO Logistics, formerly Con-way Inc., is the third largest firm in the United States. More than 755 facilities and over 150 million square feet of e-commerce distributing space make this trucking corporation a global powerhouse. XPO Logistics is making a major impact in an industry where last-mile delivery for online retailers is rapidly becoming the norm.
XPO Logistics uses a fleet of 16,000 tractors & 39,000 trailers to service the world's e-commerce. There is a requirement for 10,000 containers & 5,400 chassis because the company operates a great deal of intermodal cargoes. More than 425 cross-docks are owned by the corporation for convenient loading and unloading.
Orange-fleeted Schneider National ranks #4 among the largest trucking firms in the country. In spite of facing stiff competition from the third-ranked firm, the corporation manages to hold its own. More than 10,000 Schneider tractors and 33,830 trailers make up the company's fleet. As a result of rising demand in the business, the company is looking to hire more truck drivers. Currently, 11,650 open positions exist within the organisation.
More than 165 Schneider National trucking centres can be found in the United States, Canada, and across China. Further, Schneider is a stable business because all of its clients are Fortune 500 firms.
Werner Enterprises comes in at number five, but that's still no little potatoes. When it comes to trucks, Werner is a household name. There are 7,400 tractors & 24,000 trailers in the company's fleet. Even more astounding is the fact that Werner Enterprises operates offices in every continent except Antarctica. The firm earned $123.7 million in revenue in 2015.
Yellow Transit Firm, a cab and bus company founded in Oklahoma City US in 1924, is the progenitor of what is now known as YRC Freight. Over time, Yellow Transit combined with the likes of Roadway, the undisputed leader in the US trucking industry for decades, then Reimer Express, the undisputed leader in Canada, to establish Yellow Roadway Corporation, or YRC Freight for short. The business bridges the gap between smaller package delivery providers like UPS and FedEx and larger hauliers like Hunt, who specialise in truckload freight. Earnings for YRC Freight hit $4.7 billion in 2016.
The Trucking Industry’s Prognosis for the Future
The bulk of materials and goods in the United States are still transported by trucks, despite the growth of rail & intermodal transport systems. In the coming years, the industry will expand as a result of rising demand from businesses.
To this day, many people in the United States see truck driving as a viable career option. A master's degree is not necessary for a career as a truck driver, in contrast to the technological sector. Workers in the trucking business have, so far, been spared the job losses caused by offshoring and automation that have affected workers in other industries. The current development of driverless trucks, however, may threaten the employment of millions of people in the United States. There will always be a need for trucks to move commodities across the United States, but the business is likely to transition to autonomous driving in the near future.
Even though there has been considerable expansion in the trucking industry, many difficulties remain for smaller and medium-sized transport companies. Here are the top concerns in the trucking industry right now:
Almost every facet of trucking operations is subject to government regulation, from hours of service to electronic logging devices and fuel emission standards. While the majority of these regulations are enacted with the best of intentions, they have the unintended consequence of burdening truck drivers and fleets with paperwork and additional costs.
Even though fuel prices are low right now, cutting costs and boosting efficiency are still top concerns for fleets of any and all sizes. One alternative is fuel card schemes, which provide businesses savings on diesel and other services.
Brokers and shippers can take 60-90 days to pay trucking companies. This drawn-out process can deplete a fleet's resources and stunt its expansion. Factoring, also known as "accounts receivable finance," helps fleets increase their working capital by converting their invoices into cash in much less than a day.
In the United States, there is a deficit of approximately 48,000 truck drivers. Meanwhile, the turnover rate among drivers is extremely high. Many fleets are increasing pay, enhancing perks, and providing performance bonuses in an effort to attract and keep drivers.
In comparison to other jobs, truck drivers have a higher risk of being overweight, diabetic, and uninsured. Drivers in poor health are also more likely to experience sleep apnea or other health problems. Many trucking companies and advocacy groups, like Rolling Strong and the Truckload Carriers Association, have initiated initiatives to improve truck drivers' health and wellness in recent years.
More trucks or other vehicles on the roads has led to an increase in accidents and fatalities in recent years. The frequency of incidents involving trucks should decrease in the future years thanks to new "sensing" technology which helps drivers avoid collisions.
Studies done in the last several years place the America's highway system at the 16th place among developed nations. More accidents, longer delays, and lower profits for trucking corporations are inevitable without increased public expenditure for roads and bridges.
Lucrative Opportunities at Major Trucking Firms
For what reason do you seek employment with the nation's largest trucking firms? To begin with, each one of these trucking corporations has invested millions, or in some situations billions, of dollars into the trucking sector. What this means is that the likelihood of failure for these businesses is low. They have too much invested to give up now. For just as long as you're interested, you'll have a job driving a truck.
Also, with so much money at stake, these trucking firms can afford to buy the most cutting-edge trucks, electronics, and educate their drivers. Carriers that work for Werner Enterprises and otherwise JB Hunt may rest assured that their tractors comply with all Department of Transportation regulations. You won't have to reorganise your records to throw off auditors or hide anything from your job. You may be confident that you'll have access to the best tools and equipment for any trucking work.
Similarly, trucking companies that have a lot riding on their success will do everything it takes to recruit skilled drivers. That's why we provide competitive pay, excellent benefits, and a sign-on incentive of $8,000. For your continued loyalty, these businesses will provide you with highly sought-after benefits including safety bonus payments and retirement savings plans. After all, they have the resources to ensure that their truck drivers are satisfied, and they'll do whatever it takes to keep a reliable fleet of carriers. As you hunt for truck driving employment in your area, it's a good idea to check out what the largest trucking businesses in your area have to offer. In other words, it's a great location to begin your research!
The Year 2020 Is Ripe With Potential
People that are passionate about driving trucks will find many options in the trucking sector. Professional truck drivers are in high demand, and that need is only expected to increase. For the American economy to function, many industries require the services of truck drivers to ensure that they receive the necessary supplies in a timely way to meet the needs of their clients. Truck drivers are essential to their success. The job forecast for truck drivers is bright, both for independent contractors and for employees of major and small trucking companies, and this trend is expected to continue through at least 2020.
There Are Several Obstacles That Must Be Conquered
The trucking sector is a lucrative one. However, there are a few obstacles that trucking firms must conquer en route to becoming and becoming profitable. Finding strategies to attract, educate, hire, and maintain truck drivers to avoid a severe driver shortage is among the most pressing concerns. In order to make trucking easier and safer in terms of both time and money, trucking businesses need to implement ELD and other modern technologies. Some of the main obstacles trucking companies should overcome to succeed include managing the price of regulatory requirements, fuel, equipment, insurance, and crash litigation.
Adopting a High-Tech Approach
The trucking sector can only prosper in the long run if its members are willing to embrace technology solutions. Risk management, employment, safety, support, in-truck conveniences, and driver pay can all benefit from cutting-edge tech. Telematics, or computerised systems for improved dispatching, accounting, flow, and harvesting information about vehicle location, speed, and mechanical condition or business operations, are needed to increase safety and performance. That's the forecast for 2020 in the transportation business.
The trucking business is crucial to the growth and stability of economies all around the world, and the United States is no exception. As a result of lower shipping volumes and decreasing freight rates, many shipping companies saw a decline in revenue in 2019. Partially to blame was the trade dispute between the United States and China which led to the prospect of tariff increases on billions of dollars' worth of imported goods. The remaining half of 2020, however, is expected to show encouraging signals of increasing trucking income, according to specialists in the field.
Logistics, or the management of material flow, is a highly developed and rapidly growing sector of the economy. Read on for more information about the 10 largest trucking companies in the world and how they stack up against the competition. In 2015, transportation contributed $726.4 billion to the economy. In terms of size and revenue, only a handful of companies truly stand out. Taking into account their total annual revenue, these trucking companies rank among the top 10 in the entire world.
Company XPO Logistics (previously Con-way Inc. The company's fleet of 16,000 tractors and 39,000 trailers supports online shopping throughout the globe. According to Transport Topics, Schneider National is the fourth largest trucking company. Growth in the trucking industry will be sustained by increasing demand from enterprises. Millions of jobs in the United States could be at risk due to the rise of driverless trucks.
Saving money and operating more efficiently are two of the primary objectives of fleets of all sizes. There is a significant amount of driver turnover. Drivers of large trucks tend to be uninsured, overweight, and suffer from diabetes at higher rates than the general population. Sleep apnea and other health issues are more common in drivers who are already in poor condition. Companies in the trucking industry have the capital to invest in the most modern equipment and training for its drivers.
Business in the trucking industry is quite lucrative. The need for qualified truck drivers is significant and likely to rise. Check out the largest trucking companies in your area to see what kind of work opportunities they have for truck drivers. Long-term success for the trucking industry is contingent on its participants adopting technological solutions. The use of telematics, or computerised systems for better dispatching, accounting, flow, and harvesting information on vehicle location, speed, and mechanical condition or business operations, is essential for improving safety and performance.
- Unheralded saviours of the modern world are the largest trucking businesses in the globe.
- Modern logistics, or the movement of goods from one location to another, is a thriving, sophisticated industry that is steadily expanding in size and power.
- Browse through our list of the 10 largest trucking firms in the globe below to learn more about the inner workings of these globally recognised businesses from the drivers to the executives.
- The transportation sector earned a staggering $726.4 billion in 2015.
- When it comes to trucking companies in the United States, JB Hunt Transportation is the number two player.
- XPO Logistics, formerly Con-way Inc., is the third largest firm in the United States.
- XPO Logistics uses a fleet of 16,000 tractors & 39,000 trailers to service the world's e-commerce.
- Orange-fleeted Schneider National ranks #4 among the largest trucking firms in the country.
- Many trucking companies and advocacy groups, like Rolling Strong and the Truckload Carriers Association, have initiated initiatives to improve truck drivers' health and wellness in recent years.
- More trucks or other vehicles on the roads has led to an increase in accidents and fatalities in recent years.
- For what reason do you seek employment with the nation's largest trucking firms?
- For just as long as you're interested, you'll have a job driving a truck.
- As you hunt for truck driving employment in your area, it's a good idea to check out what the largest trucking businesses in your area have to offer.
- The job forecast for truck drivers is bright, both for independent contractors and for employees of major and small trucking companies, and this trend is expected to continue through at least 2020.
- In order to make trucking easier and safer in terms of both time and money, trucking businesses need to implement ELD and other modern technologies.
- That's the forecast for 2020 in the transportation business.
FAQs About Trucking Industry
Definitions of trucking industry. an industry that provides transportation for commercial products. type of: industry. the people or companies engaged in a particular kind of commercial enterprise.
The trucking industry earned $875.5 billion in revenue in 2021. There are about 900,000 employed truck drivers in the U.S. as of 2020. There are over 996,000 for-hire trucking carriers in the U.S. U.S. trucks moved 10.93 billion tons of freight in 2021.
A truck driving job is a great career for those who want to start earning a high annual salary without spending years on training. While there is required training and paperwork that goes into getting your CDL and authority, the pay is often worth it for truck drivers.
Walmart is just one example of a company with its own fleet of trucks. They offer one of the best paying truck driving jobs in the U.S. Their rate of pay for a company truck driver ranges from around $70,000-$85,000 US per year.
Annually, a truck driver salary can range from $30,000-$76,000. The average truck driver weekly pay starts from $700-$1400, or even more. If you are interested in local truck driving jobs, then, according to the transportation industry statistics by Indeed.com, the average truck driver pay in California is $81,888.