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Trucking will see continued growth both in freight and revenue in the next 10 years, according to the American Trucking Associations’ U.S. Freight Transportation Forecast to 2025.
Between now and 2025, tonnage will grow 23.5 percent, ATA predicts, while freight revenues are predicted to grow a whopping 72 percent.
However, adaptation by carriers will be key to enjoying the boom, says ATA, as regional growth patterns, technological changes and the evolution of manufacturing and distribution will make the industry more complex. Carriers that become “True logistics experts” will be the ones that come out on top, ATA’s report says.
The report also predicts that truck’s share of freight will continue to grow in the next 10 years, though by just a few percentage points — from 69.1 to 71.4.
Truckload volume will grow by about 3.5 percent a year through 2019 and then 1.2 percent annually in the next five years, the report predicts. But truckload carriers will use intermodal rail for longer hauls.
ATA’s Forecast can be purchased as a bound volume or a downloadable PDF at www.atabusinesssolutions.com.
Editor’s Note: This post was originally written by the staff of Overdrive Online.