Trucking Companies

The 157,072 trucking companies in the US provide transportation services for a wide variety of goods. The majority of truck loads are full Truck Loads (TL), meaning a single customer fills the entire trailer. About 25% of loads are Less Than Full Truck Loads (LTL), where freight from multiple customers is consolidated into one trailer.

High Failure Rate

Small trucking start-ups have a high failure rate, with an estimated 85% failing before their second year of operation, according to the National Association of Small Trucking Companies.

Limited Driver Hours

The federal Hours of Service (HOS) rules dictate how long a driver can be on duty and behind the wheel.

Oct 5, 2026 - Sky High Diesel Prices Deepen Trucking Industry Strain

• Diesel prices have become a serious threat to trucking companies already struggling with thin margins and years of rising operating costs. The Wall Street Journal reports that the national average diesel price recently hit a record $6.53 per gallon, nearly $3 higher than a year earlier. Independent truckers and small fleets face the greatest pressure because they often pay fuel costs upfront and lack the bargaining power to secure the fuel surcharges available to larger carriers. Some owner-operators are cutting virtually every discretionary expense or parking their trucks altogether, while more than a dozen trucking companies filed for bankruptcy in the past month. Fuel is only part of the squeeze: drivers also report sharply higher repair, parts, insurance, and financing costs. The pressure could further shrink trucking capacity if smaller operators exit the market, while higher freight costs work their way into prices for food and other goods.
• US shippers are putting more freight on their own trucks as for-hire capacity tightens and trucking costs rise. About 71% of companies surveyed by the National Private Truck Council plan to expand their private fleets, which increased freight volume 9.1% last year. Shippers aren’t abandoning outside carriers, but they are using their own trucks to gain more control over service and provide leverage when negotiating rates. The strategy has become more attractive as dry-van spot market truck postings run about 30% below year-ago levels and spot rates climb 30% to 40%. Private fleets also give companies more options for dealing with higher fuel costs and supply chain disruptions. Technology is helping make those fleets more efficient, with routing systems, transportation management software, and AI allowing shippers to better coordinate their own trucks with for-hire capacity.
• The Trump administration is stepping up enforcement against immigrant truck drivers, adding another headache for a trucking industry already struggling to keep enough drivers behind the wheel. Federal officials have shut down nearly 300 commercial driving schools over training concerns and are targeting drivers whose licenses may remain valid after their visas or work permits expire. About 200,000 immigrants hold licenses allowing them to haul freight professionally, roughly 5% of US license holders, according to the Federal Motor Carrier Safety Administration. Carriers say the crackdown is tightening an already difficult labor market and pushing them to spend more on recruiting and wages. J.B. Hunt says it has more than doubled, and possibly tripled, its driver recruiting staff. The effects are also reaching shippers, with some small businesses reporting less reliable trucking service, higher rates and fees, and greater difficulty getting trucks when they need them.
• The trucking market may look like it is losing steam, but some of that weakness is freight simply moving to the rails. Accepted truckload volumes are down 3.3% from a year ago, while domestic intermodal container volumes have jumped 10%, according to FreightWaves SONAR. The appeal is largely about price: FreightWaves’ Intermodal Savings Index shows rail running about 34% cheaper than truck, giving shippers little reason to pay for speed when retailers are rebuilding inventories months ahead of when goods are needed. Higher fuel costs have widened that advantage because trucking fuel surcharges rise faster than their intermodal counterparts. Truckload demand could pick up in October and November as holiday deadlines make speed more important, but the rebound may be softer than usual because so much freight is already working its way toward inland distribution centers by rail.

Industry size & Structure

A typical trucking company operates out of a single location, employs more than 10 workers and generates about $2-3 million annually.

• The trucking industry consists of 157,072 companies, employs 1.7 million workers and generates over $423 billion in annual revenue.
• 88% of trucking companies operate out of a single location.
• One in 4 drivers is an independent owner-operator who owns their truck and contracts out services to trucking companies.
• About 92% of trucking firms employ 20 or fewer workers.
• Small fleets dominate the trucking industry with 91% of companies operating 10 trucks or fewer.
• Large companies include UPS, FedEx, DHL, YRC Worldwide, Ryder, XPO Logistics (Con-way), Penske Truck Leasing, and JB Hunt Transport Services.