The American Trucking Association (ATA) is feeling optimistic in their recently published U.S. Freight Transportation Forecast to 2017, which predicts that the trucking industry will see gains in tonnage, total freight, and revenue over the next ten years. Though 2016 will likely see lost revenue for motor carriers, the ATA believes this year to be an exception for an industry trending in a positive direction of growth.
In their report, the ATA estimates that the industry will see an increase in freight volume at 2% per year between 2017 and 2022, followed by 1.6% per year from 2024 through 2027. Bob Costello, Chief Economist for the ATA points to continued manufacturing growth, consumer demand and international trade to promote trucking industry growth.
Freight tonnage will also see an increase as it jumps 35% by 2027 according to the ATA. Trucking will likely remain the primary means for freight transportation, though there is anticipated dip from 70.1% to 66.4% share for overall tonnage in 2027.
The ATA believes revenue will increase by 77.2 %, or from $906 billion in 2016 to 1.605 trillion in 2027.
Source:
ATA U.S. Freight Transportation Forecast to 2017