Truck Transportation

Truck transportation (NAICS 484) covers the for-hire movement of cargo by truck, including general freight (long-distance and local), specialized hauling of hazardous materials, refrigerated goods, and oversized loads. The subsector generated approximately $940 billion in gross freight revenue in 2023, according to the American Trucking Associations, and moved 72.6% of domestic freight tonnage. Over 3.5 million truck drivers operate in the U.S., making this one of the largest single-occupation employment sectors in the country.

The industry is heavily fragmented: the top 25 carriers — including J.B. Hunt, Werner Enterprises, Schneider National, and Knight-Swift — control less than 15% of total market revenue, with roughly 97% of trucking companies operating fewer than 20 trucks. The Federal Motor Carrier Safety Administration (FMCSA) regulates hours-of-service limits, electronic logging device (ELD) mandates under the ELD Final Rule (effective 2019), and the Compliance, Safety, Accountability (CSA) scoring system that rates carrier safety performance. Texas, California, and the I-35 / I-10 corridors serve as the densest freight lanes, connecting border crossings, Gulf Coast ports, and Midwest distribution hubs. Fuel costs typically represent 24-30% of operating expenses, and the industry remains closely tied to diesel price fluctuations tracked by the DOE's weekly retail diesel survey.