The last five years have been a long but successful road for the Local Freight Trucking industry, as the economic recovery drove the industry to reach prerecession highs. Generally, industry players use trucks to transport goods to local and regional destinations. The 2009 recession caused unemployment to rise and industrial and retail activity to plummet, while consumer spending declined. As a result, demand for local freight trucking plunged, with industry revenue collapsing to its lowest level in nearly a decade in 2009. In the five years to 2019, the industry is expected to keep moving forward as the economy continues to recover. A further decline in the national unemployment rate is projected to lead to higher consumer income and confidence. As a result, consumer spending will increase, causing industrial and retail activity to rise and demand for trucking services to follow close behind.
Operators in this industry provide general freight trucking services over short distances. General freight companies handle a variety of commodities, which are usually palletized and transported in a container or van trailer. Local general freight trucking companies commonly provide trucking within a metropolitan area that may cross state lines, and the trips are typically same-day return.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.