There are some industries in the United States that are super important but go underappreciated and unnoticed. These industries really matter and are sometimes used on a daily basis. This can include industries such as the health industry, the industry of technology, and even the shipment industry.
There are so many details involved in the shipping industry that all help contribute and build the industry overall. From LTL shipments to the role of a load broker, everyone matters in terms of creating the right type of shipping business. Here are all of the facts on load board integrations, freight management, and the role of a load broker.
The LTL market is estimated at approximately $35 billion. LTL stands for less than truckload and this is one of the most common forms of shipment. This is the type of shipping that a load broker will use if they are shipping small items that people order to their home.
In 2013, trucking transported nearly 15 billion tons of cargo. The Bureau of Labor Statistics reports that by 2040, that number is expected to increase to 18.79 billion tons. The main reason why this is going to continue to increase is that, as previously mentioned, the shipping industry and the role of a load broker is incredibly important to how people live their daily lives.
According to Satish Jindel, president of SJ Consulting Group, 23% of all for-hire freight tonnage can be attributed to retail. According to Satish Jindel, president of SJ Consulting Group, length of haul has declined. The length of haul declining is a clear sign that the role of a load broker may change over time. This is because almost all industries face change as the market around them develops and grows.
Public truckload carriers report that the average length of haul has decreased 4% between 2011 and 2016. According to data from CargoNet and FreightWatch International, in the first three quarters of 2016, approximately 615 cargo-theft incidents were recorded. One of the ways in which the shipping industry and the role of a load broker will need to grow surely involves keeping these shipments safe and secure.
According to the U.S. Department of Transportation, the value of freight moved is expected to increase from $882 per ton in 2007 to $1,377 per ton in 2040. Trucks carry the largest share of freight by value, tons, and ton-miles for shipments moving 750 or fewer miles. Rail, on the other hand, is the dominant mode by tons and ton-miles for shipments moved from 750 to 2,000 miles.
Nearly 12 million trucks, rail cars, locomotives, and vessels move goods over the transportation network. According to the Federal Motor Carrier Safety Administration, approximately 5.9 million commercial motor vehicle drivers operate in the United States. So this is an industry that not only helps get the right items to the right people, but it also helps give jobs to people who need them!
Every single year there are industries that grow, expand, and change because the market around them is evolving. This is important because it helps these industries stay up to speed with the world around them!