North America Long-haul Transport Market Size (2024 - 2029)

The North America long-haul transport market is anticipated to experience growth, driven by an increase in freight transportation activities. This growth is reflected in the expanding market size, as more freight transportation creates additional job opportunities for truck drivers across various categories. Despite the recovery of short-haul trucking employment post-pandemic, long-haul trucking continues to face challenges due to its impact on truck supply balance and freight redistribution across the country. The market's dynamics are influenced by factors such as the average distance of hauls and the Producer Price Index, which indicate the economic pressures and opportunities within the long-haul transport sector.

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Market Size of North America Long-haul Transport Industry

North America Long-haul Transport Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.00 %
Market Concentration Medium

Major Players

North America Long-haul Transport Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Long-haul Transport Market Analysis

The North America long-haul transport market is expected to register a growth rate of over 4% during the forecast period of 2023-2028.

  • According to the American Transportation Association's US Freight Transportation Forecast, freight trucking will grow by 24% in 2022. As a result, revenue will grow by 67%, which will benefit the transportation business. More freight transportation implies more work prospects for truck drivers, whether they be regional, OTR, or local.
  • According to an industrial survey, in the United States, the average distance of haul before and during the pandemic (long-haul - 1,000+ miles per trip) was 32.7% and 22.7%, respectively. According to industry reports, short-haul or local trucking employment is recovering much more quickly from the COVID-19 pandemic-driven recession than long-haul truckload employment. According to the American Transportation Research Institute, between 2017-2022, truck drivers have gradually driven less than 1000 miles. So, the future of the trucking industry promises to include more local truck drivers.
  • In contrast, the PPI (BLS Producer Price Index (PPI)) for the long-haul truckload business rose 9.6% Y-o-Y in February 2021, after climbing 9.8% in January 2021. As a result, the long-haul LTL PPI rose 2.9% Y-o-Y in February 2021, accelerating from a 1.5% annualized increase in January 2021. Long-haul volumes are more disruptive to the balance of truck supply in the United States, as trucks spend more time on the road with less availability to pick up freight. In addition to occupying more time to move, long-haul freight redistributes trucks across the country.

North America Long-haul Transport Industry Segmentation

Long-haul trucking (sometimes called 'over-the-road' trucking) involves long-distance cargo movements by truck, usually using tractor-trailer combinations. Long-haul drivers are often away from home for days or weeks at a time.

The North American long-haul transport market is segmented by destination (domestic and cross-border), country (United States, Canada, and Mexico), end user (manufacturing and automotive, oil and gas, mining and quarrying, agriculture, fishing and forestry, construction, distributive trade (wholesale and retail trade), pharmaceutical and healthcare, and other end users, including telecommunications. 

The report offers the market size and forecasts for the North American long-haul transport market in value (USD billion) for all the above segments. The report also covers the impact of Covid-19 on the market.

By Destination
Domestic
Cross-border
By Country
United States
Canada
Mexico
By End User
Manufacturing and Automotive
Oil and Gas, Mining, and Quarrying
Agriculture, Fishing, and Forestry
Construction
Distributive Trade (Wholesale and Retail Trade)
Pharmaceutical and Healthcare
Other End Users (Telecommunications, etc.)
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North America Long-haul Transport Market Size Summary

The North America long-haul transport market is poised for steady growth, driven by increasing freight demand and evolving industry dynamics. The market is characterized by a significant shift towards local trucking employment, as short-haul operations recover more swiftly from the pandemic's impact compared to long-haul truckload employment. This shift is influenced by factors such as the rising Producer Price Index for long-haul services, which indicates a growing cost structure and potential disruptions in truck supply balance due to extended road time. The market's competitive landscape is marked by numerous players striving to enhance service efficiency and value, leading to the emergence of niches within the sector. Key industry players, including UPS Inc., FedEx Corp., and J.B. Hunt Transport Services, are actively pursuing innovations and strategic acquisitions to strengthen their market positions.

The automotive sector's transition towards electric vehicles is significantly impacting the long-haul transport market, with governments implementing stringent emission norms and providing incentives to boost electric vehicle adoption. The United States-Mexico-Canada Agreement (USMCA) presents both challenges and opportunities for the automotive supply chain, potentially influencing the demand for North American-made parts and affecting production strategies. The market's growth is also supported by robust bilateral trade between Canada and the United States, with a substantial portion of freight transported by trucks. However, border crossings remain potential bottlenecks, necessitating efficient transit measures. Despite challenges such as the COVID-19 pandemic and trade agreement implications, the market continues to demonstrate resilience, with major players leveraging opportunities to drive growth and innovation.

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North America Long-haul Transport Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Market Drivers

      2. 1.2.2 Market Restraints

      3. 1.2.3 Market Opportunities

    3. 1.3 Value Chain/Supply Chain Analysis

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Technological Advancements

    6. 1.6 Government Regulations and Initiatives

    7. 1.7 Insights into Intermodal

    8. 1.8 Demand and Supply Analysis (Trucks, Drivers, Labor, etc.)

    9. 1.9 Insights into Freight Rates

    10. 1.10 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION (Market Size by Value)

    1. 2.1 By Destination

      1. 2.1.1 Domestic

      2. 2.1.2 Cross-border

    2. 2.2 By Country

      1. 2.2.1 United States

      2. 2.2.2 Canada

      3. 2.2.3 Mexico

    3. 2.3 By End User

      1. 2.3.1 Manufacturing and Automotive

      2. 2.3.2 Oil and Gas, Mining, and Quarrying

      3. 2.3.3 Agriculture, Fishing, and Forestry

      4. 2.3.4 Construction

      5. 2.3.5 Distributive Trade (Wholesale and Retail Trade)

      6. 2.3.6 Pharmaceutical and Healthcare

      7. 2.3.7 Other End Users (Telecommunications, etc.)

North America Long-haul Transport Market Size FAQs

The North America Long-haul Transport Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

UPS Inc., FedEx Corp., J.B. Hunt Transport Services, Knight-Swift Transport Services and YRC Worldwide are the major companies operating in the North America Long-haul Transport Market.

North America Long-haul Transport Market Report Snapshots

North America Long-haul Transport Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)