3 MIN. READ
The truck and trailer industry has recently experienced explosive growth, thanks in part to domestically focused economic policies that encouraged the return of manufacturing to the United States.
Consider that nearly every product built, used, sold or disposed of travels by truck at some point in its life cycle, and it's clear that any boost in manufacturing overall equates to a boost to the industry.
Industry Statistics
Researchers at MNI have compiled statistics for those manufacturers. The truck and tractor trailer industry consists of 1,958 companies together employing 76,489 workers.
That employment number is up 2.4% over the previous year. Around 2% of them reported sales growth, while 7% reported an increase in employment.
Related: 11 Leading U.S. Truck and Trailer Manufacturers
Those numbers are indicators of the overall industry's strong growth. Proof of that growth is shown in the industry's total revenue, which is $128.5 billion. Compared with the previous year, that's a 22.7% increase.
The industry is heavily invested in domestic production, with only 11% of manufacturers importing raw materials. Domestic distribution is also high, with around 60% of sales mnade in the country.
Geographically speaking, the area with the most manufacturers is evenly split between the South and Midwest, each accounting for 35% of the total market. The remainder is divided between the West, with nearly 18% and the Northeast, with 12%.
Industry Advances and Technologies
The sudden increase in diesel fuel costs that resulted from the financial collapse of 2008 led to an effort to reduce fuel consumption, which in turn led to rapid adoption of aerodynamic changes in trucks and trailers.
Those changes became widely embraced as it became clear they reduced the amount of drag. Lower drag results in a smaller amount of fuel consumed by trucks at highway speeds.
Collectively, a tractor trailer was able to burn up to 9% less fuel with those enhancements.
That equates to roughly 1,000 gallons of fuel saved annually for an average truck. Research continues in the field, with innovations such as vortex generators promising to reduce fuel burn by perhaps another 10%.
Volvo leaped into the autonomous space with the unveiling of its own self-driving truck named Vera. Without a human driver, the only reason for the vehicle to stop is to recharge, since it's electrically powered.
That, combined with lower maintenance requirements, enables operators to improve profitability per vehicle.
Electric trucks have more challenges than electric cars simply because of the power and torque demands of freight hauling.
Freightliner and Cummins have tried pure electric tractor trailers with varying success. The main drawback is the battery size and weight required to provide a useful range.
For that reason, both vehicles are intended for use as daycabs for urban or local deliveries. Improving battery energy density is the key to solving those issues.
With smaller electric trucks, the hurdles are somewhat smaller. Ford and new manufacturer Rivan have created prototypes of all-electric heavy-duty pickup trucks.
They promise to deliver extremely high towing capacities alongside extreme acceleration.
For More Information
Freight travels by truck and information travels by IndustryNet. Learn all about truck, and tractor and trailer manufacturers with data researched and validated by experts.
Use it to find the right vehicles for your specific applications or components for your existing fleet, find leads for customers, and even offer quotes, all from one location.
About MNI Industry Data
As U.S. manufacturing grows and changes, MNI continually updates information on over 400,000 U.S. manufacturers and suppliers of more than 10,000 products and services, providing vital information for industrial souring and purchasing as well as industrial prospecting, sales, and business development.
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