Data from two key categories of medium- and heavy-duty trucks to illustrate how thirsty the trucking industry is for fuel.
- As the chart above shows, in 2017 they consumed over one-fourth of the fuel used on U.S. roads despite being just 4.5% of the vehicles.
- “Combination” trucks alone — that is, tractor trailers — accounted for 17% of that consumption.
- Globally, trucking — as well as petrochemicals, shipping and aviation — explains why multiple projections of global oil demand see growth (or at least no decline) through 2040 or later.
The International Energy Agency’s long range predictions shows oil demand is several million barrels per day higher in 2040, even though use in passenger cars peaks in the mid-2020s.
- All of that growth is expected to come from developing economies.