Transportation and Warehousing Industry
The transportation and warehousing industry makes the world go round – literally. This subsector of the trade, transportation, and utilities sector is comprised of industries that involve transportation for passengers, freight, and sightseeing. This industry also includes enterprises that engage in activities that support transportation. Warehousing includes any storage of goods before, during, or after transport.
As our economy continues to expand and become more and more connected, transportation and warehousing has become an industry that almost everyone depends on. As a result, the industry’s need for protection against risks to ensure smooth business has become increasingly evident.
From protecting the goods that are stored or shipped to being prepared in the case of liability lawsuits or property damage arising during transit, insurance allows for the transportation and warehousing industry to never stop moving. We at Diversified Risk Solutions are here to help determine what coverage options will provide the best fit for all of the industry’s unique needs.
Facts about the transportation and warehousing industry:
In the beginning of 2017, the transportation and warehousing industry employed 5,035,100 individuals (Bureau of Labor Statistics)
The number of establishments in the industry has been increasing since 2010, with 240,423 total in 2016 (Bureau of Labor Statistics)
In 2015, the largest share of the industry was composed of driver or sales workers and truck drivers at 23.8% (Census Bureau)
The top state with a high concentration of industry employees is Tennessee (Census Bureau)
The transportation and warehousing industry includes categories such as:Air, Rail, Water, Truck, Transit and ground passenger, Pipeline, Scenic and sightseeing, Support activities, Postal service, Couriers and messengers, Warehousing and storage
