In this article we are going to list the 15 biggest trucking companies in the world. Click to skip ahead and jump to the 5 largest trucking companies in the world.
Trucking industry experiences consistent year-to-year growth globally led by some of the biggest trucking companies in the world. Since the trucking industry is a major integrated part of the logistics chain of the entire workforce sector of any country, from shipments to factories and warehouses, it is without a doubt that trucking services are not going away anytime soon. When considering the economies, they are dependent on the trucking industry for the moving of goods of all types. According to statistics, the trucking industry is of high importance and is expected to reach USD 700 billion by the year 2023, growing at a CAGR of 5.20%.
Nearly 71% of the freight in America and 6% of all the full-time jobs in the country are based on the trucking industry, along with that 8% of total full-time jobs are related to the biggest trucking companies in the world. The revenue generation posted by the trucking companies have surpassed the total GDP of 150 nations, which reflects the importance of this particular industry in the US. Additionally, it has been recorded that 10.8 billion tons of freight was moved in the last year (2020). Grocery stores would run out of stock completely if long-haul trucks stopped delivering. More than 100,000 miles are recorded by each truck driver per year.
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To get an idea of the Trucking industry and its contribution towards revenue generation, it is important to know that the biggest trucking companies in the world are responsible for most of the freight movement in countries like the US, where the trucking market is worth USD 1.1 Trillion. There is an approximate number of 947,000 truck drivers employed in the US which is considered less than the actual requirement of the country while China being the world’s second largest economy is expected to reach a projected trucking market size of USD 1.2 trillion by the year 2027 with a CAGR of 7.1% over the analysis period of 2020 to 2027. Other noteworthy geographic markets that highlight the importance of trucks include Japan and Canada, each of which are forecasted to grow at a rate of 1.2% and 3% respectively over the same period. Moreover, considering countries within Europe, Germany is also expected to grow approximately by 2.1% CAGR.
Trucking industry is considered as a vital pillar of the economy, however, it is undervalued as a job. If we consider the daily required products and their logistical situation, entire communities are dependent on trucking for goods, raw material, food, medicine and much more. Apart from that, essential public services also rely on the trucking industry for jobs like garbage collection, fire and construction services. As an integral part of logistics, trucks move 71.3% of freight over land. Considering some of the biggest trucking companies in the world, it can be observed that they have been providing top-notch services while generating billions and trillions of dollars.
While the pandemic forced entire economies to take a hit and face the impact in form of losses due to countrywide lockdowns and bans on international and global travel. Trucking industry also had to undergo the phase of halting their services unless they were required for emergency purposes. However, since almost every sector of most countries relies on trucking, many lives would be affected if the industry ceased. Industries like mining, utilities, infrastructure and heavy industry would collapse if the trucking companies stop delivering the required commodities. Not only do the biggest trucking companies in the world facilitate other sectors of the economy, they are also a source of providing jobs to approximately 7 million people, half of whom are noted to be truck drivers.
We have taken into account different sources and prepared the list of 15 biggest trucking companies on the world. In order to calculate the ranking we have taken factors including revenue, net income, market capitalization, and the 1 year trailing total return. Without further ado, let’s take a look at the top 15 companies that have strived through a global pandemic and brought themselves to the top, starting with number 15:
15. Werner Enterprises Inc. (NASDAQ:WERN)
- Revenue (TTM): $2.4 billion
- Net Income (TTM): $149.7 million
- Market Capital: $3.2 billion
- 1 year Trailing Total Return: 37.4%
Werner Enterprises Inc. is primarily a haul-truck company that moves freight of general commodities both interstate and intrastate commerce in the United States, Mexico, Canada, China and other international countries. This company also offers non-trucking services such as truck brokerages. On February 02, 2021, Werner Enterprises Inc. was named as the first and only Military Friendly Company due to its premier transportation and logistics services.
Pixabay/ Public Domain
