Specialty Trucking
Description
Companies in this industry provide long-distance transportation by truck of freight that often has atypical shapes, weights, or sizes and may require specialized equipment such as flatbeds, tankers, car carriers, or refrigerated trailers. Major US companies include CH Robinson, CR England, Jack Cooper Transport, Kenan Advantage Group, and Quality Distribution, along with units of general freight trucking companies like JB Hunt and Schneider National.
The US specialty trucking industry includes about 11,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $40 billion.
COMPETITIVE LANDSCAPE
Demand is driven by manufacturing output and consumer spending. The profitability of individual companies depends on efficient operations. Large companies have advantages in account relationships, bulk fuel purchasing, fleet size, and access to drivers. Small operations can compete effectively by providing quick turnaround or specializing in a particular industry. The US specialized trucking industry is fragmented: the 50 largest companies account for about 40% of industry revenue.
Trucking competes with other forms of cargo transportation, including rail, air, and water. However, the shift toward intermodal transportation means that these modes of delivery are often more complementary than competitive. Specialty trucking services also compete with general truckload and less-than-truckload carriers.
PRODUCTS, OPERATIONS & TECHNOLOGY
Specialized freight includes transportation of climate-controlled box and pallet goods, and bulk liquids and gases which account for about 20% each of the industry's revenue. This is followed by bulk liquids and gases at more than 20%. Other services include transportation of other goods, dry bulks, and automobiles and light trucks. Specialized trucking operators often deliver cross-country and may cross international borders.
Major inputs and expenses include drivers, diesel fuel, and repairs. Trucking companies often impose fuel surcharges to offset increases in fuel prices. Large companies generally perform their own truck maintenance; small ones may outsource this function. Companies hire their own drivers but also contract with independent owner-operators.
The US specialty trucking industry includes about 11,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $40 billion.
COMPETITIVE LANDSCAPE
Demand is driven by manufacturing output and consumer spending. The profitability of individual companies depends on efficient operations. Large companies have advantages in account relationships, bulk fuel purchasing, fleet size, and access to drivers. Small operations can compete effectively by providing quick turnaround or specializing in a particular industry. The US specialized trucking industry is fragmented: the 50 largest companies account for about 40% of industry revenue.
Trucking competes with other forms of cargo transportation, including rail, air, and water. However, the shift toward intermodal transportation means that these modes of delivery are often more complementary than competitive. Specialty trucking services also compete with general truckload and less-than-truckload carriers.
PRODUCTS, OPERATIONS & TECHNOLOGY
Specialized freight includes transportation of climate-controlled box and pallet goods, and bulk liquids and gases which account for about 20% each of the industry's revenue. This is followed by bulk liquids and gases at more than 20%. Other services include transportation of other goods, dry bulks, and automobiles and light trucks. Specialized trucking operators often deliver cross-country and may cross international borders.
Major inputs and expenses include drivers, diesel fuel, and repairs. Trucking companies often impose fuel surcharges to offset increases in fuel prices. Large companies generally perform their own truck maintenance; small ones may outsource this function. Companies hire their own drivers but also contract with independent owner-operators.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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