The worldwide trucking business continues to increase year over year, led by the world’s top ten largest trucking companies. With the delivery of products to factories and warehouses, the global trucking business is becoming more linked with the logistics chain. Furthermore, the need for trucking services will not diminish anytime soon because whole economies rely on them for the movement of all sorts of commodities. How large is the global trucking industry? The market for trucks around the world is expected to reach USD 700 billion by 2024, with a CAGR of 5.20 percent.
UPS, the world’s largest trucking firm by revenue, leads the pack of top trucking companies. After UPS, the largest trucking companies are the US-based trucking companies FedEx and XPO Logistics, which round out the top ten trucking companies by revenue. This essay will talk in-depth about the best trucking companies and answer the following questions about the industry:
Statistics and Trends in the Global Trucking Industry:
- According to data, trucking transports 71% of all freight in America and accounts for approximately 6% of all full-time jobs in the country.
- The money made by the American trucking industry was more than what more than 150 countries made in a year.
- Trucking accounts for 8% of all full-time occupations in the United States.
- Over 8,600 truckers are employed by Walmart.
- Trucks transported 10.8 billion tonnes of freight last year.
- If long-haul trucks stopped driving, most grocery shops would run out of food in three days.
- The average long-haul trucker drives more than 100,000 miles each year.
Top 10 Trucking Companies in the World
Who will be the top ten largest trucking companies in the world in terms of revenue in 2023? Here is a list of the biggest trucking companies based on how much money they make, in billions of dollars.
1. United Parcel Service (UPS)
What is the largest trucking firm in the US and the world? UPS is the biggest trucking company in the world. It made more than USD 71.86 billion in sales last year.UPS, which started out in 1907 as The American Messenger Company and is based in the United States, is a company that ships packages all over the world and manages the supply chain.UPS calls its ground package tractor-trailers “feeders,” and they are different from the UPS Freight fleet. UPS’s fleet of trucks in North America includes Mack Trucks (Pinnacle and Vision), Navistar (International ProStar+ and 9900i), and PACCAR (Kenworth T800, T660, and T680) vehicles.UPS is ranked first on this list of the top ten largest trucking companies in the globe because it expects to have the greatest revenue among the top trucking companies in 2023.
2. FedEx
FedEx is ranked second on our ranking of the top ten trucking companies in the world. FedEx is an international delivery services firm based in Memphis, Tennessee. FedEx is known for its overnight delivery service and for being the first company to come up with a way to track goods and give real-time updates on where a package is. Most other carrier services have since adopted this feature.FedEx made USD 65.46 billion in sales last year, making it the world’s second-largest trucking firm by revenue. Currently, the corporation employs 425,000 people and operates approximately 29,000 tractors and 113,000 trailers. FedEx is also renowned as one of the world’s largest third-party logistics companies.
3. XPO Logistics
XPO Logistics, an American international transportation and contract logistics firm that handles supply chains for 50,000 clients, is ranked third on BizVibe’s list of the top ten largest trucking companies in the world. XPO Logistics employs over 100,000 people and has over 14,438 tractors and 25,689 trailers. XPO Logistics, Inc., one of the most profitable trucking companies, is the Fortune 500’s seventh best-performing stock during the previous decade. XPO Logistics made USD 16.65 million in sales last year, placing the firm third on this list of significant trucking companies in terms of revenue.
4. J. B. Hunt
With revenues above USD 9.16 billion last year, B. Hunt ranks fourth on this list of the world’s ten largest trucking companies. J.B. Hunt is an Arkansas-based transportation and logistics firm. J.B. Hunt now has more than 29,056 employees and uses more than 15,808 tractors and 33,510 trailers.Most of the time, J.B. Hunt drives big semi-trailer trucks and offers transportation services across the United States, Canada, and Mexico.
5. Knight-Swift
Knight-Swift, an American truckload motor transport carrier with headquarters in Phoenix, Arizona, is the fourth largest trucking company in the world, according to this list.The corporation transports general commodities throughout the United States. Its main business is short- to medium-distance asset-based dry van truckload and temperature-controlled truckload carrier services.The firm also provides non-asset-based brokerage services. Over 25,400 people are employed by Knight-Swift, which runs 19,156 tractors and 69,544 trailers. Knight-Swift produced USD 5.34 billion in sales in 2019, making it one of the top ten trucking companies in the world by revenue and one of the major trucking companies in the US.
6. YRC Worldwide
YRC Worldwide, a holding company comprising freight transportation brands YRC Freight, New Penn, Holland, and Reddaway, is ranked sixth on this list of the finest trucking companies in the world. RC Worldwide has a large network in North America and can send industrial, commercial, and retail items. Overland Park, Kansas, is the company’s headquarters. Last year, YRC Worldwide achieved USD 5.09 billion in sales, making it one of the world’s largest trucking companies in terms of revenue. YRC Worldwide employs about 19,000 employees and runs 14,100 tractors and 45,000 trailers.
7. Schneider
Schneider National is ranked seventh among the world’s top ten trucking companies, with revenues exceeding USD 4.97 billion last year. Schneider National is a truckload, intermodal, and logistics company. Regional, long-haul, accelerated, dedicated, bulk, intermodal, brokerage, cross-dock logistics, pool point distribution, supply chain management, and port logistics are among the services offered by Schneider. Schneider runs 13,700 tractors and 37,800 trailers, which makes it one of the top ten trucking companies in terms of revenue and operations.
8. Landstar System
With revenues of over USD 4.61 billion, Landstar System ranks eighth on this list of the top ten largest trucking companies in the world in 2023. Landstar System, Inc. is a transportation firm that specialises in logistics, primarily third-party logistics. The firm now employs around 1,306 employees and runs 10,599 tractors and 16,743 trailers.
9. Old Dominion Freight Line
Old Dominion Freight Line, an American less-than-truckload transportation firm, ranks ninth on this list of the world’s top ten largest trucking companies. Old Dominion Freight Line provides LTL service on a regional, inter-regional, and nationwide scale. The logistics services provided by the firm include ground and air expedited transportation; supply chain consultancy; transportation management; freight brokerage; container delivery; and warehousing; as well as home moving services. It has agreements with freight forwarding firms all around the world. The firm presently employs approximately 35,729 individuals globally and runs 9,254 tractors and 35,729 trailers. Old Dominion Freight Line made USD 4.04 billion in sales last year, making it one of the world’s largest trucking companies in terms of revenue.
10. TFI International
TFI International, the first firm on this list situated outside of the United States, rounds out BizVibe’s ranking of the top ten largest trucking companies in the globe. TFI International is a Canadian transport and logistics firm headquartered in Montreal, Quebec, and is the country’s largest less-than-truckload shipping company. Two-thirds of the company’s revenue originates from activities in Eastern Canada, with the remainder coming from Western Canada. Currently, the firm runs 15,992 tractors and 26,487 trailers.
The Global Trucking Industry’s Future
The need for trucking services is not increasing. As previously stated, revenues in the trucking business in the United States alone surpass the GDP of more than 150 nations, and huge firms such as Walmart employ thousands of drivers. The top ten trucking companies are changing their strategy to accommodate a more technologically savvy generation. In a high-demand industry, expect the leading trucking companies to continue innovating.