This post is by Marcus Lu from Visual Capitalist

See this visualization first on the Voronoi app.

This graphic shows how trucking companies make money along with their expenses.

How Do Trucking Companies Make Money?

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Today, there are roughly 600,000 trucking companies in America. During the pandemic, the number of companies jumped by 100,000 as demand for goods accelerated. Compared to rail, trucking is typically faster and more direct for transporting goods. Trucks hauled almost 73% of freight by weight across the country in 2022. This graphic shows how these firms make money, based on J.P. Morgan analysis featured in a 2024 report from Global X.

Under the Hood

On average, trucks earn $1.98 per pile. Here’s how their expenses break down:
Expense$ Per MileShare of Expenses
Truck Payments-$0.2715%
Insurance Premiums-$0.084%
Permits & Licenses-$0.021%
Driver Wage-$0.6033%
Driver Benefits-$0.1810%
Total Expenses-$1.82100%
The average carrier earns an operating profit of 16 cents per mile. Amid steadily increasing wages, 43% of expenses are driver-related, which includes salaries and benefits. In 2022, over 3.5 million truck drivers worked in America. Fuel is another major cost, accounting for almost a quarter of total expenses.

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