The sustained practice of global trading means there is consistent demand for reliable logistics. How businesses produce, import and export components all depends on the speed of their operations. The trucking industry is essential to satisfying the logistical demands of global trade. In this article we will discuss what the current state of the trucking industry is and its trajectory. In addition to this, we will outline in alphabetical order the top 50 trucking companies worldwide.
The Current State of the Trucking Industry
With a CAGR (compound annual growth rate) of 3.4%, the global transportation industry is expected to be valued at over £6.5tn by 2027. This statistic alone looks impressive. However, when compared to the pre-pandemic growth rate, it is evident that the global transportation industry is still in the process of recovery. A study titled On-Demand Transportation Market Size conducted in 2018 highlighted a CAGR of 19.8%. This means that expected growth has reduced by 16.4%. Although this may seem detrimental, it is important to remember that growth is still occurring. Despite the impact of the pandemic on logistics and trade, global transport remains positive. The trucking industry is only one component of the global transportation market, but the statistics mirror the broader trend highlighted above. In 2020, during the midst of the pandemic, the evaluation of the global trucking industry was estimated at £1.7tn. After the necessary revisions made to the CAGR, the global trucking industry growth is estimated at 4.7%, meaning it will grow to an estimated worth of £2.25tn by 2026. These figures are encouraging for the future of any trucking company. Not only has the global trucking industry stabilised economically, but it is also showing greater growth than the general transportation industry. Any statistic is subject to change depending on any unexpected national or international circumstances. The pandemic has shown that corporations may need to be more cautious when considering global trading practices. However, the quick turnaround in both the global trading and global trucking industry demonstrates that it remains a relatively stable practice.
The Top 50 Trucking Companies Worldwide
As a result of the company’s excellence, it has been awarded various accolades in security, safety and loss prevention. Today the company is headquartered in Fort Smith, Arkansas. It is a less-than-truckload (LTL) company, meaning it primarily deals with loads less than 68 kg. Most of its services are based in North America.
Some of the markets ATS provides services to include aerospace, agriculture and manufacturing. Customers can get quick quotes from ATS regarding national and international shipping.
Founded in 1956, ArcBest Corporation is one of the largest LTL service providers in the US today.
Today it is the 11th largest private company in the state and operates relocation services on a global scale.
Based in Tennessee, the company operates in 18 southeast states. Averitt Express has over 5,000 employees to its name.
Some of its services include award-winning engineering project solutions and supply chain efficiency.
As a company it strives for exceptional service, driven by its seven-principle approach. These include: safety, say what we mean, be either, lead, be the best, respect and have fun.
Today the company has access to over 8,000 owner-operators across the US and further afield.
The FedEx freight branch is the largest LTL freight carrier in the US, reporting a revenue of $8.9bn in 2021.
Since 2014 the company has put forward environmentally-centred solutions, resulting in a US EPA LEED Gold certification.
Today, the company’s fleet includes over 100,000 trailers and containers.
The company founded in 2005 is located in Illinois and operates high-quality LTL services nationwide.
Ryder has been named as one of the world’s most admired companies by Fortune magazine.
As of 2020 the company started publishing its sustainability information to the public. Seino prides itself on its openness.
Founded in 1998, SIRVA offers flexible and integrated moving solutions worldwide.
Founded in 2010, the company has grown considerably in such a short time. There are currently 5,000 employees on its books.
TFI International has over 14,000 company-owned power units, nearly 50,000 trailers and over 200 straight trucks.
Founded in 1986, the company continues to invest heavily in its data-driven fleets to deal with the challenges of driver turnover.
With a revenue of $1.5bn, the company continues to be a trusted choice for its dedicated customer base.
Universal Logistics Holdings offers a broad range of services that include dedicated fleet transportation and value-driven logistical solutions.
United Parcel Service, founded in 1907, has a revenue of over $84bn and over 500,000 employees dedicated to delivering its logistical solutions.
Founded in 1956, Werner Enterprises operates in the US, Mexico and Canada.
The top 50 trucking companies highlight the sustainability of this form of logistical service.
