ARLINGTON, Va. — For the first time ever, the US trucking industry is a $700-billion business.
The American Trucking Associations reported in its American Trucking Trends that 2014 was the first year in history that the industry generated more than $700 billion in revenue – $700.4 billion, to be exact.
“Last year, we saw freight volumes grow significantly,” said ATA chief economist Bob Costello. “Increases in freight, combined with continued tight capacity helped drive revenues and coupled with lower fuel prices, we saw motor carriers go on a buying spree for new trucks as they replaced older equipment.”
Among the findings in this year’s edition of American Trucking Trends are:
In 2014, trucks moved 9.96 billion tons, or 68.8%, of all domestic freight.
The $700.4 billion in revenue accounted for 80.3% of all freight transportation spending.
Trucking employed more than 7 million people, including 3.4 million drivers.
Combination trucks logged 168.4 billion miles in 2013, or an average of 69,000 per truck.
Since deregulation, the number of registered motor carriers has grown by 68 times to more than 1.3 million carriers.
Commercial trucks paid $16.5 billion in federal highway user fees in 2013.