The American Trucking Associations recently published the latest edition of its annual industry data compendium: American Trucking Trends 2024.
“Trends is an important record of how the trucking industry is performing,” Bob Costello, ATA chief economist, said in a news release. “That’s why it is on the shelves of business leaders and policymakers across North America.
“This year’s edition shows that 2023 was a very challenging year, but the industry weathered the storm, moving more than 11 billion tons of freight during the year.”
Among the key findings in this year’s report:
- Preliminary figures indicate that trucks moved 11.18 billion tons of freight in 2023, down from the 11.46 billion tons hauled the previous year.
- Preliminary figures indicate that the industry saw revenues grow to $987 billion, up from $940.8 billion in 2022.
- Trucking employed 8.5 million people in industry-related jobs, including 3.55 million professional drivers in 2023.
- The industry remains one made up of small businesses, with 95.5% of carriers operating 10 or fewer trucks and 99.6% operating fewer than 100 power units.
- Cross-border trade remained a robust source of freight for motor carriers, with trucks moving 66.5% of surface trade between the U.S. and Canada, and 84.5% of goods across the Mexican border in 2023.
This year’s version of Trends also includes data about household goods movements, the broader macroeconomy, and more.
“As government officials and business leaders make decisions that determine the trajectory of our economy, their choices can often affect the performance of our industry,” said Chris Spear, ATA president and CEO. “Accurate data and credible information are key to sound policymaking, which is why Trends has a place on the desks of fleet owners, suppliers, logistics professionals, lawmakers, and anyone needing insight into the economy’s leading mover of freight.”