More than 1.1 million U.S. companies operated a fleet of at least five commercial vehicles in 2024, a reminder that transportation is one of the most important aspects of the U.S. economy. You'll find this among the dozens of other facts and figures in the 2024 FleetOwner Trucking by the Numbers gallery.
However, concerns about the economy were the overarching theme of transportation in 2024 as trucking operations continued to battle supply chain and regulatory headwinds throughout the year. Despite the uphill climb, trucking is the most popular—and efficient—way to move goods around the corner or across the country.
While the freight recession that started after the pandemic continued deep into 2024, trucking operations became more expensive—despite fuel costs falling. According to the American Transportation Research Institute, the average operating expenditures went up 0.8% to $2.27 per mile, setting a new record. If you don’t count fuel costs, average truck operations rose 6.6% to $1.716 per mile, according to the 2024 study of 2023 operations.
While some fleets kick the tires on alternative fuels, diesel still rules the industry. Since diesel prices peaked at $5.754 per gallon nationally in June 2022, prices have receded year over year. On-highway U.S. diesel prices ranged between a high of $4.044 in January and a low of $3.558 in September this year. October 2024 prices were more than 90 cents less than October 2023.
See also: What’s your trucking AIQ?
As the fleets continue to navigate an evolving economic and regulatory landscape, we present the latest trends, challenges, and opportunities based on data gathered by FleetOwner and several industry organizations. Trucking By the Numbers 2024 shines a light on the top concerns, economic factors, advancements, and more data that tells the trucking story in charts and figures.
Along with economic concerns, the industry continues to focus on what can make it better, such as improved truck parking, lawsuit abuse reform, and figuring out how emerging power technologies could fit into operations this decade.
While for-hire carriers faced limited capacity and lower freight rates in 2024, private fleets—owned and operated by businesses to transport their goods—found opportunities in the evolving trucking landscape. Optimizing routes, implementing fuel-saving measures, and leveraging technology to improve efficiency can help private fleets control costs.
As we move into 2025, the industry is at a crossroads of challenges and opportunities. With rising operational costs and evolving market dynamics, carriers that adapt over the coming months could find themselves in a better place 12 months from now.
View the 2024 FleetOwner Trucking by the Numbers infographic gallery
Along with Trucking by the Numbers, FleetOwner publishes several popular annual features that garner attention throughout the trucking and transportation industries. These include our annual looks at the largest commercial transportation systems in the U.S., the FleetOwner 500: For-Hire and FleetOwner 500: Private Fleets. Our annual profiles of women in the industry, Women in Transportation 2024, was published this summer. Each year, FleetOwner recognizes the transportation operations of private fleets with the FleetOwner Private Fleet of the Year award. This fall, we expanded and rebranded our annual New Models to the 2025 FleetOwner vehicle guide, our largest-ever look at the next generation of heavy-duty, medium-duty, light-duty, and alternative-powered trucks and vans. To view what's ahead for FleetOwner in the new year, please checkout our 2025 Media Kit.
