Brief Excerpt from Industry Overview Chapter:
Companies in this industry provide long-distance and local trucking, including truckload (TL) and less-than-truckload (LTL) services. Major companies include US-based XPO Logistics (owner of Con-way), JB Hunt, Schneider National, Swift Transportation, and YRC Worldwide, as well as Hitachi Transport System and Seino Transportation (Japan), Eddie Stobart (UK), and TransForce (Canada).
Large, wealthy nations such as the US, Japan, and Germany are top markets for trucking, but growth in emerging markets has prompted some companies to expand overseas. China, in particular, has attracted investments from large trucking service providers based in North America and Europe.
The US general freight trucking industry includes about 70,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $165 billion.
The industry is comprised of carriers that transport commodities for shippers using a commercial motor vehicle (CMV). This profile covers general freight companies, including for-hire carriers and independent owner-operators, which transport a wide variety of commodities using containers or van trailers. Companies primarily engaged in flatbed, tanker, or refrigerated trailer transport are covered in the Specialty Trucking industry profile. Express delivery services and moving and storage companies are covered in separate profiles.
Demand is driven by consumer spending and manufacturing output. The profitability of individual companies depends on efficient operations. Large companies have advantages in account relationships, bulk fuel purchasing, fleet size, and access to drivers. Small operations can compete effectively by providing quick turnaround, serving a local market,..."
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