You probably know a bunch of figures about your business, but did you know these fast and fun facts about the trucking industry?
- The trucking industry hit $676 billion in revenue this past year.
- By 2025 it is expected that the trucking industry will grow by about 21%.
- Trucks moved over 70% of U.S. domestic freight.
- The goods which are typically transported by trucks are machinery, automobiles, food, furniture and electronics equipment.
- 7.1 million people are employed by the trucking industry, 6% of the United States working population
- There are about 3.5 million truck drivers in the United States, of which 200,000 are female long-haul drivers.
- Career Builder reports that the mean salary for a truck driver is $44,500.
- As of May 2015, over 90.0% of players in the United States long-distance freight trucking industry are owner-operators.
- It has been estimated that commercial trucks use 20,500 gallons of fuel a year, while an average car uses meager 500 gallons.
- The design of truck engines enables it to travel one million miles before retirement. In comparison, car engines are designed to run for just 200,000 miles.
- In the past 19 years, heavy-truck and off-road exhaust emissions have plunged by 95%.
- Sixty modern clean-diesel trucks create the same amount of exhaust gasses as one 1988 truck.
- The average age of a truck driver is 49.
- Freight demand is rising, rates are soaring and truck sales are at their best level in years.
- The trucking industry is primarily made up of small businesses; 91% percent of motor carriers operate six or fewer trucks.
Now is a good time to be in the trucking industry. These interesting tidbits can give you an idea of the bigger picture – where the trucking industry is and your business in it. If you would like to learn how to grow your business through smart financial decisions, feel free to contact Pelagic Capital. If you need funding or truck financing you can depend on Pelagic Capital, a leading financing company specialized in providing customized financing packages for dealers who sell to owner operators. Feel free to contact Pelagic Capital for more information.