Trucking Market Size & Statistics (2024)
Global market size (2024)
$$1.2T
Forecast CAGR → 2031
5.3%%
to $$1.74T
Total addressable market
$1.3T. The total addressable market includes all freight transportation services, including modes beyond just road transport, such as rail and intermodal options, where trucking often serves as a critical first or last-mile component.
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$1.2 Trillion
Global Trucking Market Size (2024)
Source: Grand View Research
$940 Billion
US Trucking Revenue (2023)
Source: American Trucking Associations (ATA)
Over 1 Million
Number of for-hire carriers in US (2023)
Source: Federal Motor Carrier Safety Administration (FMCSA)
72.6% of all domestic freight tonnage
Freight volume moved by trucks in US (2022)
Source: American Trucking Associations (ATA)
5.3%
Expected CAGR (2024-2031)
Source: Mordor Intelligence
Approx. 64,000 drivers
Driver shortage in US (2023)
Source: American Trucking Associations (ATA)
~20%
LTL market share (global)
Source: IBISWorld
Over 15% annually
E-commerce impact on last-mile delivery growth
Source: Statista
Market segments
%
Full Truckload (FTL)
%
Less-than-Truckload (LTL)
%
Specialized Freight Trucking
%
Last-Mile Delivery
%
Parcel & Courier Services (Trucking Component)
Demand trend
↓ Declining
Search interest in "trucking market size" is declining (-57% over the trailing 12 months of Google Ads keyword data).
Growth drivers
- Booming e-commerce sector driving demand for last-mile delivery and parcel services.
- Increasing global trade and industrial production necessitating efficient logistics and freight movement.
- Technological advancements like telematics, automation, and route optimization enhancing efficiency and capacity.
Risks
- Persistent driver shortages leading to increased labor costs and capacity constraints.
- Rising fuel prices and stringent environmental regulations impacting operational costs.
- Economic downturns or supply chain disruptions negatively affecting freight volumes.
Frequently asked questions
What is the current global market size of the trucking industry?
The global trucking market size is estimated at $1.2 trillion in 2024.
What is the projected growth rate for the trucking market?
The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.3% from 2024 to 2031.
What factors are driving the growth of the trucking market?
Key drivers include the expansion of e-commerce, increasing global trade, and technological advancements in logistics.
What are the primary challenges facing the trucking industry's growth?
Major challenges include persistent driver shortages, volatile fuel prices, and the impact of economic fluctuations.
How significant is the trucking industry to the overall economy?
Trucking is a critical component of the global supply chain, transporting over 70% of all domestic freight tonnage in many major economies like the US, making it indispensable for economic activity.
Figures are informed estimates synthesized from public industry sources (market research firms, trade associations, government statistics) combined with real search-demand data. They are directional, not audited — actual market size and growth vary by definition and methodology across research firms. Updated July 2026.
Updated 2026-07-03T09:29:14.982Z · Sources: Grand View Research: Trucking Market Size, Share & Trends Analysis Report, Mordor Intelligence: Trucking Industry Growth, Trends, and Forecasts, American Trucking Associations (ATA): Freight Transportation Facts, IBISWorld: Trucking Industry in the US, Statista: Logistics & Freight Transport Market Overview, Federal Motor Carrier Safety Administration (FMCSA): Data & Statistics
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