Trucking refers to the transport of goods from one place to another by road. Trucks are mostly used for lifting and transporting large or heavy shipments/cargo on land. The industry plays a vital role in the American economy. It assists in moving raw materials, works in progress, and end products from one point to another. Trucking accounts for the lion share of freight movement over land in the U.S. It drives the productivity of the manufacturing, warehousing, transportation, and construction industries.
The long-distance trucking industry is quite fascinating in that major trucking and haulage companies only control a negligible portion. For example, J.B. Hunt Transport Services controls about 2.5 percent of the U.S. market and FedEx around 1.6 percent, according to the research firm IBISWorld. Majority of the players are owner-operators - truckers who own their trucks. These were estimated at more than 90 percent in May 2015. Some large companies also operate own trucks for their businesses.
A commercial driver's license is usually required of a driver who will operate large trucks, especially those carrying hazardous materials or weighing more than 26,000 pounds. Drivers of commercial motor vehicles (CMVs) are required to keep a log book tracking their driving hours. One of the major challenges facing the trucking industry is that most drivers are older males who are set to retire soon, raising fears of a driver shortage.