Trucking is an enormous industry, and as such, it’s pretty hard to segment it. There are many different ways in which you can slice this $700B market: short haul vs. long haul, less-than-truckload vs. full-truckload, by fleet size, and more.
As a consultant at McKinsey, I was taught to break things down using the MECE approach(mutually exclusive, collectively exhaustive), but there seems to be no existing research that does this for the trucking industry. So, essentially, I had to do it myself. Here’s what I found.
The entire U.S. freight transportation industry which includes various modes of transport (air, water, rail, pipeline, trucks) is worth roughly $1 trillion, according to Plunkett Research. Many other sources come to the same conclusion. Trucking makes ~70% of that amount.