The United States Road Freight Transport Market size is estimated at 562.7 billion USD in 2025, and is expected to reach 674.5 billion USD by 2030, growing at a CAGR of 3.69% during the forecast period (2025-2030).
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Growth of the manufacturing and e-commerce industry boosting the road freight market in the United States
- The United States manufacturing sector, a major driver of truck freight, returned to expansion in early 2024, signaling a recovery in industrial activity and increased demand for transportation services. Moreover, manufactured goods exports reached USD 113 billion in June 2024, up from USD 111.9 billion in May 2024. Similarly, in the first six months of 2024, manufactured goods exports reached USD 658 billion, up 2.62% compared to the same period last year. The upturn in manufacturing exports is significantly contributing to increased road freight demand.
- The wholesale and retail trade segment of the road freight transportation market is expected to have significant growth, primarily due to the projected expansion of the overall retail industry in the United States. It is expected to register a commendable CAGR of 3.5% by 2025. E-commerce revenue in the United States is predicted to experience a substantial CAGR of 11.22% during the period spanning 2023 to 2027. The increasing number of e-commerce users is also expected to play a pivotal role in driving this growth, with the user base projected to reach 333 million by 2029, up from 273 million in 2024.
United States Road Freight Transport Market Trends
United States leads regional GDP with 86% contribution, driven by infrastructure and supply chain investments
- In September 2024, the FAA, under the US Department of Transportation, allocated USD 1.9 billion in grants for 519 projects. These projects span 48 states, Guam, Puerto Rico, and other territories, all part of the Airport Improvement Program (AIP). Additionally, USD 269 million in Supplemental Discretionary Grants for 2023 will back 62 projects at 56 U.S. airports. This competitive initiative aids airport owners and operators in enhancing the U.S. airport system. Marking its largest round yet, this fifth AIP grant cycle funds diverse projects, from airport safety and sustainability upgrades to noise reduction. The grants cater to airports nationwide, regardless of size.
- With infrastructure development and the e-commerce boom, the transportation and storage sector is set for a job surge. The Bureau of Labor Statistics (BLS) projects a 0.8% annual growth rate from 2022 to 2032, translating to nearly 570,000 new jobs. Notably, the couriers and messengers industry, alongside warehousing and storage, is expected to drive about 80% of this job growth.
The United States remained a net crude oil importer in 2022, importing about 6.28 million bpd of crude oil from 80 countries
- Gasoline prices in the US are expected to drop below USD 3 a gallon for the first time in over three years by October 2024, just before the presidential election. Lower fuel prices are mainly due to weaker demand and falling oil prices, providing relief to consumers who have faced high costs that fueled inflation. This could also help Vice President Kamala Harris and other Democrats counter Republican criticism over high gas prices. In September 2024, the average price for regular gas was USD 3.25 a gallon, down 19 cents from last month and 58 cents from last year.
- According to US Energy Information Administration (EIA), crude oil prices will stay steady in 2024 compared to 2023, then decrease in 2025. The US' introduction of new refining capacities in 2023 will boost its operable capacity, alleviating price strain on oil products in 2024 and 2025. Furthermore, the Middle East, particularly Kuwait, will add new international refining capacities, which will help ease global price pressure on gasoline and diesel. Also, it is expected, narrowing crack spreads in 2024 are likely to lead to lower average US retail fuel prices in both 2024 and 2025. Gasoline prices are projected to USD 3.36/gal in 2024 and USD 3.24/gal in 2025.
United States Road Freight Transport Industry Overview
The United States Road Freight Transport Market is fragmented, with the major five players in this market being C.H. Robinson, FedEx, J.B. Hunt Transport, Inc., Landstar System Inc. and Old Dominion Freight Line (sorted alphabetically).Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 EXECUTIVE SUMMARY & KEY FINDINGS2 REPORT OFFERS7 KEY STRATEGIC QUESTIONS FOR ROAD FREIGHT CEOS
3 INTRODUCTION
4 KEY INDUSTRY TRENDS
5 MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)
6 COMPETITIVE LANDSCAPE
8 APPENDIX
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- A.P. Moller - Maersk
- ArcBest
- C.H. Robinson
- DHL Group
- FedEx
- J.B. Hunt Transport, Inc.
- Knight-Swift Transportation Holdings Inc.
- Landstar System Inc.
- Old Dominion Freight Line
- Ryder System, Inc.
- Schneider National, Inc.
- United Parcel Service of America, Inc. (UPS)
- Werner Enterprises Inc.
- XPO, Inc.
Methodology
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