In this article we are going to list the 15 biggest trucking companies in the world. Click to skip ahead and jump to the 5 largest trucking companies in the world.
Trucking industry experiences consistent year-to-year growth globally led by some of the biggest trucking companies in the world. Since the trucking industry is a major integrated part of the logistics chain of the entire workforce sector of any country, from shipments to factories and warehouses, it is without a doubt that trucking services are not going away anytime soon. When considering the economies, they are dependent on the trucking industry for the moving of goods of all types. According to statistics, the trucking industry is of high importance and is expected to reach USD 700 billion by the year 2023, growing at a CAGR of 5.20%.
Nearly 71% of the freight in America and 6% of all the full-time jobs in the country are based on the trucking industry, along with that 8% of total full-time jobs are related to the biggest trucking companies in the world. The revenue generation posted by the trucking companies have surpassed the total GDP of 150 nations, which reflects the importance of this particular industry in the US. Additionally, it has been recorded that 10.8 billion tons of freight was moved in the last year (2020). Grocery stores would run out of stock completely if long-haul trucks stopped delivering. More than 100,000 miles are recorded by each truck driver per year.
To get an idea of the Trucking industry and its contribution towards revenue generation, it is important to know that the biggest trucking companies in the world are responsible for most of the freight movement in countries like the US, where the trucking market is worth USD 1.1 Trillion. There is an approximate number of 947,000 truck drivers employed in the US which is considered less than the actual requirement of the country while China being the world’s second largest economy is expected to reach a projected trucking market size of USD 1.2 trillion by the year 2027 with a CAGR of 7.1% over the analysis period of 2020 to 2027. Other noteworthy geographic markets that highlight the importance of trucks include Japan and Canada, each of which are forecasted to grow at a rate of 1.2% and 3% respectively over the same period. Moreover, considering countries within Europe, Germany is also expected to grow approximately by 2.1% CAGR.
Trucking industry is considered as a vital pillar of the economy, however, it is undervalued as a job. If we consider the daily required products and their logistical situation, entire communities are dependent on trucking for goods, raw material, food, medicine and much more. Apart from that, essential public services also rely on the trucking industry for jobs like garbage collection, fire and construction services. As an integral part of logistics, trucks move 71.3% of freight over land. Considering some of the biggest trucking companies in the world, it can be observed that they have been providing top-notch services while generating billions and trillions of dollars.
While the pandemic forced entire economies to take a hit and face the impact in form of losses due to countrywide lockdowns and bans on international and global travel. Trucking industry also had to undergo the phase of halting their services unless they were required for emergency purposes. However, since almost every sector of most countries relies on trucking, many lives would be affected if the industry ceased. Industries like mining, utilities, infrastructure and heavy industry would collapse if the trucking companies stop delivering the required commodities. Not only do the biggest trucking companies in the world facilitate other sectors of the economy, they are also a source of providing jobs to approximately 7 million people, half of whom are noted to be truck drivers.
We have taken into account different sources and prepared the list of 15 biggest trucking companies on the world. In order to calculate the ranking we have taken factors including revenue, net income, market capitalization, and the 1 year trailing total return. Without further ado, let’s take a look at the top 15 companies that have strived through a global pandemic and brought themselves to the top, starting with number 15:
15. Werner Enterprises Inc. (NASDAQ:WERN)
Revenue (TTM): $2.4 billion
Net Income (TTM): $149.7 million
Market Capital: $3.2 billion
1 year Trailing Total Return: 37.4%
Werner Enterprises Inc. is primarily a haul-truck company that moves freight of general commodities both interstate and intrastate commerce in the United States, Mexico, Canada, China and other international countries. This company also offers non-trucking services such as truck brokerages. On February 02, 2021, Werner Enterprises Inc. was named as the first and only Military Friendly Company due to its premier transportation and logistics services.
Pixabay/ Public Domain
14. ArcBest Corp. (NASDAQ:ARCB)
Revenue (TTM): $2.8 billion
Net Income (TTM): $28.5 million
Market Capital: $846.0 billion
1 year Trailing Total Return: 10.0%
ArcBest Corp.provides transportation and intermodal transportation services nationally, internationally and regionally. Additionally, it offers transporting of commodities through it standard and expedited less-than-truckload services. ArcBest Corp. is majorly known for its premium logistics and roadside assistance for commercial vehicles through third-party networks of service providers. Moreover, ArcBest offers customized services and self-moving solutions that are designed especially to make moving easier and affordable.
13. TFI International Inc.
Revenue (TTM): $3.9 billion
Net Income (TTM): $243.4 million
Market Capital: $4.1 billion
1 year Trailing Total Return: 48.5%
TFI International Inc. is a Canada based logistics service providing company that focuses on services like pickup, transport, tracking, and delivery of goods throughout North America. This company also has a less-than-truckload segment which includes transportation of smaller goods, while the truckload segment offers expedited transportation along with flatbed, container and other dedicated services likes Package and Courier and business segment. TFI is diversified in multiple countries and industry verticals.
12. Old Dominion Freight Line Inc. (NASDAQ:ODFL)
Revenue (TTM): $3.9 billion
Net Income (TTM): $589.1 million
Market Capital: $23.4 billion
1 year Trailing Total Return: 79.4%
Old Dominion Freight Line Inc. is an American less than truckload company that offers regional, inter-regional national LTL services which include movement of general commodities including consumer goods, textiles and capital goods. Apart from that, it also offers truckload brokerage, warehousing and supply chain consulting. Old Dominion Freight Line Inc. was founded in 1934 by Earl E Congdon and has its headquarters in Thomasville, North Carolina, United States.
Pixabay/ Public Domain
11. Schneider National Inc. (NYSE:SNDR)
Revenue (TTM): $4.5 billion
Net Income (TTM): $165.9 million
Market Capital: $4.9 billion
1 year Trailing Total Return: 23.1%
Established in the year 1935, Schneider National Inc. provides premium transportation and logistics services and has one of the broadest range of supply chain and freight shipping solutions. This company has been awarded with the Excellence in Security Award. Schneider transformed into a powerful transportation company from a one man show providing its customers with various services including regional, long-haul, expedited, brokerage, and pool point distribution amongst many others.
10. Landstar System Inc. (NASDAQ:LSTR)
Revenue (TTM): $4.133 billion
Net Income (TTM): 192.11 million
Market Capital: $5.820 billion
1 year Trailing Total Return: 31%
Landstar System was founded in 1968 but was incorporated in 1991, and has its headquarters in Jacksonville, Florida, United States. This transportation company specializes in logistics and more specifically third-party logistics. While Landstar is primarily one of biggest service providers in the US, it also provides services to countries including Canada, Mexico and others around the world. Landstar’s National Logistics was sold to XPO logistics which is now the largest web-based expeditor in North America.
9. YRC Worldwide Inc. (NASDAQ:YRCW)
Revenue (TTM): $4.6 billion
Net Income (TTM): -$64.1 million
Market Capital: $228.6 billion
1 year Trailing Total Return: 66.3%
YRC Worldwide Inc. is the parent company of several transportation companies which include YRC Freight, Holland, New Penn, Reddaway and HNRY Logistics. A logistics company that coordinates freight movement across multiple modes of the global supply chain. YRC Freight stands for Yellow Transportation and it was founded in 1924 in Oklahoma City, Oklahoma as a purchase of and subsequent merger with Roadway that was founded in 1930 in Akron, Ohio.
8. Best Inc. (NASDAQ:BEST)
Revenue (TTM): $4.7 billion
Net Income (TTM): -$103.0 million
Market Capital: $1.5 billion
1 year Trailing Total Return: -28.7%
Best is an integrated supply chain and logistics solution provider that combines Internet, IT and traditional logistic services in order to provide its customers with newly created subversive business models which help in transforming the way logistics and supply chain industry operates. This company is considered as a 3rd Party Fulfillment Partner that helps in empowering businesses through dependable and scalable solutions.
7. Knight-Swift Transportation Holdings Inc. (NYSE:KNX)
Revenue (TTM): $4.8 billion
Net Income (TTM): $309.2 million
Market Capital: $7.9 billion
1 year Trailing Total Return: 26.0%
Knight-Swift Transportation Holdings Inc. is a transportation and logistics provider that offers its services on a wide level which include irregular route, dedicated, refrigerated, cross-border, expedited and flatbed as well. In addition, the company is also known for its brokerage and management services, and engages in moving rail freight in containers along with other trailing equipment.
6. Seino Holdings Co. Ltd.
Revenue (TTM): $5.7 billion
Net Income (TTM): $218.5 million
Market Capital: $2.6 billion
1 year Trailing Total Return: 0.8%
Seino Holdings is a Japan-based, diversified transportation company that focuses mainly on truck, cargo and air transportation along with warehousing, customs brokerage and insurance agency services. Seino Holdings Co. Ltd also offers buying and repairing of trucks, passenger cars and automobile parts. Additionally, the company provides with paper products, leasing of land, truck terminals and plenty other services.
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Disclosure: No position. 15 largest trucking companies in the world is originally published at Insider Monkey.