It is an undeniable fact that trucking companies are considered as the backbone of the transportation industry in the US. They provide effective logistics services to thousands of businesses operating in the country, helping them move their freight from one place to another.
We will briefly go through some of the largest trucking companies in the US. As a matter of fact, a recent survey puts out that about 80% of the US heavily relies on trucking companies for the transportation of goods.
The majority of necessities like food, medicine, everyday goods and other essentials are being transported via trucking companies.
It’s no surprise that around 1.2 million companies operate in the US trucking industry. So, let’s go through some of the largest trucking companies in the US and see how they contribute to the economy.
Table of Contents
Some of the largest trucking companies in the US are as follows:
1. UPS Incorporated
UPS stands for United Parcel Service and it was founded in 1907. It is an American Multinational shipping, receiving and supply chain management company with its headquarter in Atlanta, Georgia.
It was originally known as the American Messenger Company. The company has now grown to become a Fortune 500 company and has a workforce of more than 5,00,000 employees. It can be said undoubtedly that this company has become a huge name in the industry.
UPS Inc. was ranked no. 34 on the 2022 Fortune 500 list of the largest United States corporations by total revenue. The table attached below represents the same:
| Year | Revenue in Million USD | Net Income in Million USD | Total Assets in Million USD |
| 2022 | 1,00,338 | 11,548 | 5,36,000 |
| 2021 | 97,287 | 12,890 | 69,405 |
| 2020 | 84,628 | 1,343 | 62,408 |
| 2019 | 74,094 | 4,440 | 57,857 |
| 2018 | 71,861 | 4,791 | 50,016 |
| 2017 | 65,872 | 4,910 | 45,403 |
Market Size – As of November 2023, UPS Inc. has a market cap of $120.96 Billion. This makes them the world’s 93rd most valuable company by market cap. Market cap is the market capitalization which is the total market value of a publicly traded company’s outstanding shares and is commonly used to measure the worth of a company.
To learn more about UPS Inc., visit their official website
2. FedEx Corp.
It was formerly known as Federal Express Corporation, later FDX Corporation and now FedEx Corporation. It is one of the largest trucking companies in the US and was founded in the year 1971. It is headquartered in Memphis Tennessee.
They are specialized in transportation and e-commerce services and their services deliver around 3 billion packages yearly.
| S. No. | Category | Value |
| 1 | FedEx Express Stations | 1,950 |
| 2 | Air Express Hubs | 13 |
| 3 | FedEx Ground Hubs | 40 |
| 4 | FedEx Ground Operating Facilities | >600 |
| 5 | FedEx Freight Service Centers | 400 |
| 6 | FedEx Office Locations | 2,200 |
| 7 | Unique FedEx.com Visitors monthly | >100M |
| 8 | Package-status Tracking Requests Daily | >600M |
| 9 | FY21 Annual Revenue | $84 Billion |
| 10 | Team Members | 600K |
| 11 | Average Daily Package Volume | 16.5M* |
| 12 | Motorized Vehicles | >210K |
| 13 | Global GDP Connected | 99% |
| 14 | Aircraft | 697 |
| 15 | Airports Served | >650 |
Market Size- As of November 2023, FedEx Corp. has a market cap of $62.16 Billion. This makes them the world’s 246th most valuable company by market cap.
| Year | Market Cap | Change |
| 2023 | $62.16B | 42.2% |
| 2022 | $43.71B | -36.21% |
| 2021 | $68.53B | -0.42% |
| 2020 | $68.81B | 74.29% |
| 2019 | $39.48B | -6.25% |
To learn more about FedEx Corporation, visit their official website
3. XPO Logistics
It is an American logistics company that conducts less than truck load transport in North America and was established in 1989. Its corporate headquarters is located in Greenwich, Connecticut, US and XPO logistics has been in the trucking industry for a long time.
XPO Logistics is spread across 564 locations globally and holds a manpower of more than 38,000 employees.
Market Size – As of November 2023, XPO Logistics has a market cap of $9.07 Billion. This makes them the world’s 1556th most valuable company by market cap.
| Year | Market Cap | Changes |
| 2023 | $9.07B | 136.71% |
| 2022 | $3.83B | -56.84% |
| 2021 | $8.88B | -1.49% |
| 2020 | $10.89B | 48.61% |
| 2019 | $7.33B | 10.82% |
To learn more about XPO Logistics, visit their official website.
4. J.B. Hunt Transport Services Inc.
It is an American transportation and logistics company based in Lowell, Arkansas. It was established in 1961 by Johnie Bryan Hunt and Johnelle Hunt.
In the initial stage, they were operating 550 tractors, 1,049 trailers and had 1,050 employees. They primarily operated large semi-trailer trucks and provided transportation services throughout the continental U.S., Canada and Mexico.
With the passage of time, they have grown rapidly in this field. Currently, J.B. Hunt employs more than 24,000 professionals and operates more than 12,000 trucks. The company’s fleet consists of over 1,45,000 trailers and containers.
It is completely noteworthy that J.B. Hunt Transport Services Inc. was one of the first largest US Trucking companies to have adopted the ‘container trucking’ approach.
Market Size – As of November 2023, J.B. Hunt Transport Services Inc. has a market cap of $17.78 Billion. This makes them the world’s 911th most valuable company by market cap.
| Year | Market Cap | Change |
| 2023 | $17.78B | -1.47% |
| 2022 | $18.05B | -15.96% |
| 2021 | $21.4B | 48.75% |
| 2020 | $14.44B | 16.43% |
| 2019 | $12.40B | 22.63% |
To learn more about J.B. Hunt Transport Services Inc, visit their official website.
5. Knight-Swift Transport Services
It is the fifth-largest Trucking company in the US. It was established in the year 1990 with its headquarters in Phoenix, Arizona.
Knight-Swift Transport Services offers a one-stop shopping service through a wide range of trucks. Some of the trucks are owned by the company and the others are owner-operated.
The flight terminals of the trucking company are located in major traffic lanes and freight centers across US and Mexico.
They have over 28,000 employees, 4,000 trucks, and 8,700 trailers. They also offer different types of truckload which are mostly asset-based dry and temperature controlled.
Market Size – As of November 2023, Knight-Swift Transport Services Inc. has a market cap of $7.91 Billion. This makes them the world’s 1748th most valuable company by market cap.
| Year | Market Cap | Change |
| 2023 | $7.91B | -5.96% |
| 2022 | $8.42B | -16.72% |
| 2021 | $10.11B | 42.4% |
| 2020 | $7.10B | 16.1% |
| 2019 | $6.11B | 41.1% |
To learn more about Knight-Swift Transport Services, visit their official website.
6. YRC Worldwide
It is an American Transportation holding company headquartered in Nashville, Tennessee and it was founded in 1929.
With over 300 terminals, the company delivers around 11 million shipments annually, securing a dominant position in the American trucking industry for decades.
YRC Worldwide was formed as a taxi and bus company named Yellow Roadway Corporation. Later, the company merged with top trucking companies based in the US and Canada Roadway and Reimer Express, respectively.
Market Size – As of November 2023, YRC Worldwide has a market cap of $0.27 Billion. This makes them the world’s 6206th most valuable company by market cap.
| Year | Market Cap | Change |
| 2023 | $0.27B | 15.35% |
| 2022 | $0.23B | 174.55% |
| 2021 | $5.97M | -17.52% |
| 2020 | $0.10B | -78.37% |
| 2019 | $0.48B | 9.08% |
To learn more about YRC Worldwide, visit their official website.
7. Landstar Systems
It is an American transportation services company that is based in Jacksonville, Florida and was established in 1968. They specialize in logistics services and more specifically third-party logistics.
It is another largest US based trucking company and operates across the US, Canada and Mexico. Landstar Systems is known for transporting heavy and specialized items across its operating regions.
A glimpse at Landstar Systems:
Market Size – As of November 2023, Landstar Systems has a market cap of $5.98 Billion. This makes them the world’s 2144th most valuable company by market cap.
| Year | Market Cap | Change |
| 2023 | $5.98B | 2.32% |
| 2022 | $5.85B | -13.27% |
| 2021 | $6.74B | 30.55% |
| 2020 | $5.16B | 14.99% |
| 2019 | 4.49B | 17.12% |
To learn more about Landstar Systems, visit their official website.
8. Old Dominion Freight Line
It is an American transportation company that offers regional, inter-regional, and national less than truckload logistics services.
It was founded in 1934 and their headquarters is located in Thomasville, North Carolina.
They provide services such as warehousing, household moving, and trade show shipping apart from core LTL services. As of now, they have over 21,000 employees, 5,000 tractors, around 22,500 trailers, and they are growing their business at a rapid pace.
Market Size – As of November 2023, Old Dominion Freight Line has a market cap of $42.48 Billion. This makes them the world’s 393rd most valuable company by market cap.
| Year | Market Cap | Change |
| 2023 | $42.48B | 35.51% |
| 2022 | $31.35B | -23.93% |
| 2021 | $41.21B | 79.98% |
| 2020 | $22.90B | 51.43% |
| 2019 | $15.12B | 50.76% |
To learn more about Old Dominion Freight Line, visit their official website.
9. ArcBest Corporation
It is a US-based freight and logistics solutions provider that aims to simplify the complicated supply chain challenges that businesses usually come across regularly.
It was established in 1966 and its headquarters is located in Fort Smith, Arkansas. It is an American holding company for TL and LTL freight, freight brokerage, household good moving, and transportation management companies.
Market Size – As of November 2023, ArcBest Corporation has a market cap of $2.79 Billion. This makes them the world’s 3322nd most valuable company by market cap.
| Year | Market Cap | Change |
| 2023 | $2.79B | 63.39% |
| 2022 | $1.71B | -42.62% |
| 2021 | $2.98B | 175.11% |
| 2020 | $1.08B | 54.49% |
| 2019 | $0.70B | -20.01% |
To learn more about ArcBest Corporation, visit their official website.
10. Werner Enterprises
It is an American transportation and logistics company and was founded in 1956. Its headquarters is located in Omaha, Nebraska and they offer their services in the US, Canada and Mexico.
Werner Enterprises states that they had a revenue of $3.29 Billion in 2022. Werner’s fleet consists of approximately 8,300 trucks, 30,000 trailers, and employs 14,300 employees and independent contractors.
Market Size – As of November 2023, Werner Enterprises has a market cap of $2.28 Billion. This makes them the world’s 3677nd most valuable company by market cap.
| Year | Market Cap | Change |
| 2023 | $2.28B | -10.31% |
| 2022 | $2.54B | -20.18% |
| 2021 | $3.18B | 17.63% |
| 2020 | $2.71B | 7.55% |
| 2019 | $2.51B | 21.09% |
To learn more about Werner Enterprises, visit their official website.
Conclusion
In conclusion, the largest trucking companies in the US play an important role in the nation’s economy and logistics. These companies have built and maintained an extensive network of transportation successfully, serving as the pillar of the supply chain for countless industries.
Their commitment to excellence and adaptability will surely continue to shape the future of the American transportation industry, uplifting economic growth and connectivity across the nation.
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Tushar C
I'm a HR at OpenFR8 and a passionate blogger. Apart from my day job as HR, reading and writing books/blogs are two of my absolute favorite things to do. I like taking on new challenges and most importantly, I believe in bringing efficiency towards everything I do. I love expressing my thoughts and visions through the medium of words in the form of blogs or articles or books. Till this date, I've successfully published three short-novels on my own and will continue to do so.
