Indications of Tightening Capacity

The number of active and inactive carriers at the nation's largest owner-operator fleet has dropped significantly in the last three years, pointing to tightening capacity in the US freight market.

Key Observations

• Active carriers dropped over 34% between 2022 and 2024. The 2024 total of 43,718 is the lowest since 2019.
• Inactive approved carriers dropped 14% over the same period. Suggests there is still a lot of idle capacity out there waiting for a revival in freight volume.
• Total contracted owner-operators dropped 27% since 2021. It's also 15% lower than 2019 levels, suggesting an extended decline in the owner-operator population.
• The owner-operator turnover rate has returned to pre-pandemic levels. It stood at 36% in 2019 and had dropped to 35% in 2024 after peaking at 41% in 2023.