Determining the exact number of trucking companies that have gone out of business over the past four years (March 2021 to March 2025) is challenging due to the lack of a single, comprehensive, and up-to-date source covering all closures. However, I can provide an estimate based on available data from industry reports and analyses, with the understanding that the information is incomplete for the full period.
From 2021 to 2024, significant trucking company closures have been documented, particularly during the freight recession that began in late 2022 and continued into 2023. According to data analyzed by CarrierOK, approximately 88,000 trucking companies ceased operations in 2023 alone. This figure is derived from Federal Motor Carrier Safety Administration (FMCSA) records of MC# revocations, net of reinstatements and new grants. Additionally, TruckInfo.net reported a net contraction of nearly 10,000 motor carriers in the first half of 2024. For 2021, Broughton Capital reported 3,140 closures due to the economic fallout from the COVID-19 pandemic, a sharp increase from 1,100 in 2020. Data for 2022 is less precise, but industry sources suggest closures were elevated compared to pre-pandemic levels, though not as extreme as 2023—potentially in the range of 5,000 to 10,000 based on trends in freight volume declines and spot rate pressures.
For 2025, up to the current date of March 14, no comprehensive data is available. However, posts on X and industry sentiment suggest ongoing closures, with one estimate indicating about 5,500 carriers closing per month over the last two years (roughly mid-2023 to mid-2025), implying around 16,500 for the first three months of 2025 if the trend holds. This is speculative and not yet substantiated by official reports.
Adding these figures:
2021: ~3,140 (Broughton Capital)
2022: ~5,000–10,000 (estimated range based on trends)
2023: ~88,000 (CarrierOK)
2024 (first half): ~10,000 (TruckInfo.net), with a full-year estimate of ~15,000–20,000 assuming a slower second half
.