Local Specialized Freight Trucking in the US
Total consumer spending has increased at an annualized rate of 2.9% over the past five years, while the US oil and gas production index has increased an annualized 4.4% during the same period, fueling demand for specialized transportation of frozen foods, crude oil and other relevant freight. Moreover, while declines in the price of diesel fuel up until 2016 significantly constrained industry revenue growth, they also reduced industry operating costs. The result was industry profit margins that expanded early during the five-year period, from 5.3% in 2013 to 7.3% in 2015, before returning to 5.3% in 2018. Over the five years to 2023, the industry will continue to benefit from growing consumer spending and expanding construction activity, while a projected rise in the price of diesel fuel will bolster industry revenue growth by enabling operators to generate income through surcharges.
Operators in this industry provide specialized road transportation for cargo using trucks and trailers. Local trucking establishments provide trucking within metropolitan areas that may cross state lines, and trips are often same-day return. Specialized freight transportation is the movement of cargo that requires specialized equipment for transportation because of the shipment’s size, weight and shape.
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.
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