The trucking market provides some
$5.7 billion in premium

Iowa, Oregon and North Dakota provide the most vibrant markets

There are some 2.9 million commercial trucks on the road, providing more than $5.7 billion in premium, according to data compiled by MarketStance, Middletown, Connecticut. Of that total, $5.1 billion in premium is generated by small (1-49 employees) and mid-sized (50-999 employees) operations, prime targets for independent agents. There are more than 128,000 small and mid-sized trucking operations, employing 1.6 million people.

Overall, the industry employs some 2.4 million people and, unfortunately, that number is not expected to grow quickly. There are only three categories within the trucking niche where four-year (2010-2014) average annual growth is expected to be significant. The data show that hazardous waste collection is anticipated to enjoy employment growth of 10.9% annually, followed by other waste collection (6.9%) and solid waste collection (6.0%). The next nearest category is hazardous materials trucking, except waste, which is expected to show employment growth of 2.2%. Every other category shows growth of 2% or less, with a number expecting to show declines in employment. The strong growth shown by solid waste collection is especially significant, since that segment also is one of the top five categories in terms of premium, accounting for 11% of the total.

The largest category in terms of premium is non-local general freight trucking (truckload), accounting for 25% of the trucking premium, followed by non-local general freight trucking (less than truckload), at 15%. Solid waste collection is next (11%), followed by courier services, except local or by air, and local general freight trucking without storage (truckload), each representing 8% of the total trucking premium.

The strongest trucking markets are in Iowa, where 95% of the trucking market premium is with growing concerns, followed by Oregon (92%), North Dakota (90%), Vermont (89%) and Michigan (88%). At the other end of the spectrum are New Hampshire (19%), New Jersey (20%), Arizona (21%), and Washington (23%).

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