5 Things You Didn't Know About the Truck Industry

Do you want to learn about the truck industry?

Over 900,000 trucking companies exist in the United States. Even if you’re not a trucker, it’s best to know more about one of the most vital industries in the country. However, knowing where to start is another matter.

In this guide, we’ll discuss some interesting facts about the trucking industry. Read on and slake your thirst for knowledge now:

1. The Truck Industry is the Economy’s Backbone

The American economy depends on truck drivers to keep the supply chain from stalling. These vehicles transport 65% of the country’s consumable goods to the market.

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American trucks move over 10 billion tons of freight every year. It allows them to make over $700 billion in revenues each year.

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2. The Truck Driver Shortage Continues

Driving trucks is a difficult lifestyle. Most drivers spend hours on the road and days far from their homes. It’s why most companies find it hard to recruit and keep drivers in the long run. Even so, the trucking industry has over 3.5 million drivers across the country.

The shift in demographics is also affecting the industry’s demands. The average truck driver is 55 years old. Before long, these drivers will retire and make a shortage.

A lot of experts believe the industry will need over 175,000 within the next five years. Regardless, the industry currently lacks 50,000 drivers right now.

The shortage is beneficial to aspiring truckers. Companies are scrambling to raise wages and develop incentives to keep drivers from leaving.

3. Technology Affects the Industry

Within the next decade, the following technologies will become the standard:

Automatic transmissions
Blind-spot monitoring
Braking help
Variable cruise control

The industry is also shifting toward electric truck models. However, most experts believe these vehicles can’t cater to every market. They will mostly dominate the freight transportation Classes 3 to 8.

4. Self-Driving Truck Enhancements Continue

A lot of industry experts believe autonomous trucks will appear in four waves. The first two will include platooning. It’s a transport method allowing several other trucks to form a line behind a lead truck. They will imitate its behavior, such as speed, steering, and braking.

At the start, every truck will have a driver ready to take over whenever emergencies arise. The goal is to deliver driverless platooning by 2025. After a decade, the technology will switch to fully autonomous vehicles.

5. Electronic Logging Devices (ELDs) Changes

The truck industry collaborated with the Department of Transportation’s ELD regulations. These devices are for improving driver safety while recording driving hours automatically. Soon, truck companies can’t use Automatic On-Board Recording Devices since they’re obsolete.