The global trucking industry is growing at a rapid pace, and this growth is largely led by the top trucking companies in the world. The major trucking players are playing a key role in making the industry more and more integrated with the logistics chain and robust features such as fleet tracking and tachograph analysis.
The growth and future of the trucking industry can be estimated by its size that is all set to reach a whopping USD 700 billion, growing at a CAGR of 5.20% by 2024.
Further, investment across three key areas, including long-haul transport, short-haul delivery, and logistics software solutions is on the rise, with established players have been at the forefront of the investment wave.
In this post, we are going to discuss the top 3 trucking giants in the world and what we can learn and adopt from their processes.
1. United Parcel Service (UPS)
When it comes to top trucking giants in the world, UPS tops the list with revenues surpassing USD 71.86 billion in 2019 alone.
An American multinational package delivery and supply chain management company, UPS utilises a fleet of trucks from several manufacturers.
The company offers a complete range of asset-based and non-asset-based services through UPS freight and Coyote logistics to meet varied ground freight needs including truckload, less-than-truckload (LTL), speciality services, rail intermodal, and transportation management.
As a global leader in logistics, UPS is dedicatedly committed to making its customers’ LTL and truckload deliveries easier and helping them improve their efficiency with a broad range of solutions.
What makes UPS a top trucking player?
- The company is a provider of global supply chain management solutions and operates through three segments- international package operations, U.S. domestic package operations, and supply chain & freight operations.
- As the largest trucking company in the world, it serves the global market for logistics services, which include transportation, contract logistics, distribution and ground freight.
- UPS offers a spectrum of ground and air package transportation services.
- The supply chain & freight segment of the company includes its truckload freight brokerage, forwarding and logistics services, freight and its financial offerings through UPS Capital.
Other solutions offered-
- UPS Hundredweight Service –
Includes guaranteed, cost-effective delivery of non-palletised, multiple-package shipments
- UPS Worldwide Expedited Ground Freight –
Offer customised and compliant solutions for your freight
- Flex Global View
An enterprise-level solution for high volume and heavy international shipping
- Quantum View Manage
Proactively manage all your inbound and outbound shipments with a browser-based visibility tool.
2. FedEx Corp
FedEx Corp. is a well-known trucking giant that provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services.
An American multinational delivery services company, FedEx is known for it with night shipping service and leading a system that could effortlessly track packages and provide real-time updates on package location. It is one feature that has been replicated by most other carrier services within no time.
In terms of revenue, FedEx generated USD 65.46 billion in 2019 alone, making it the 2nd largest trucking company in the world (in terms of revenues).
What makes FedEx Corp a top trucking player?
- The company provides customers and businesses worldwide with a broad portfolio of transportation, business and e-commerce services.
- The company offers various integrated business solutions through its operating partners.
- FedEx is a well-known trucking player that remains focused on safety, needs of their customers and communities and the highest ethical and professional standards.
- The company has over 29k tractors and over 113k trailers, making it one of the largest third-party logistics companies in the world.
Other services offered by FedEx –
- Express mail
- Freight forwarding
- Post-delivery services
- Third-party logistics
3. Old Dominion Freight Line
Old Dominion Freight Line (ODFL) is a leading trucking company in the world specialising in less-than-truckload (LTL) shipments (freight from multiple shippers consolidated into a single truckload).
The company operates a fleet of a whopping 9,300 tractors and more than 38000 trailers from more than 240 service centres.
Apart from its core LTL services, Old Dominion also offers a range of value-added services including truckload brokerage, container drayage and supply chain consulting.
As a premier transportation solutions company, the mission of the company is to provide innovative solutions designed to exceed customer expectation.
The company is also known for logistics services including supply chain consulting, transportation management, ground and air expedited transportation, truckload brokerage, container delivery, and warehousing.
What makes Old Dominion Freight Line a top trucking player?
- The company offers both the ground and air expedited transportation and consumer household pickup and delivery.
- The varied range of services includes truckload brokerage, supply chain consulting, container drainage and warehousing.
- The company operates more than 9k tractors and 35k trailers, and generated USD 4.04 billion in revenues, making it one of the top trucking companies in the world.
- Among the other services offered by ODFL include regional, expedited, dedicated, long-haul, bulk, intermodal, cross-dock logistics, pool point distribution, supply chain management, and port logistics.
The demand for trucking services is only set to go up in the future. The top trucking companies in the world, therefore, are adapting their strategies to be more inclusive of a more technology-driven generation.
Apart from the above-mentioned services, trucking giants all around the world are continuously upgrading technology platforms across the value chain by implementing autonomous systems and improving their high-tech fleet management systems.
For customer-facing services, top trucking companies are releasing chatbots that leverage artificial intelligence to deliver a convenient customer experience. This also allows users to estimate shipping rates and track packages through commonly used apps such as Facebook.
At the operational level, trucking giants are experimenting with autonomous truck technology and last-mile drone deliveries to reduce the distance of each truck route leading to substantial time efficiencies and cost savings.
From a more long-term perspective, top trucking companies across the globe are playing an active role as thought leaders in the overall changing logistics landscape and exploring transformative trends and key issues in this space that include multiple themes such as analytics in logistics, driverless cars, the applicability of modular vehicles, and more.