The American Trucking Associations (ATA) announced their increasing growth expectations for freight and intermodal volumes as well as a rise in tonnage in their U.S. Freight Transportation Forecast to 2022.
According to FTR Associates’ Eric Starks, truck freight is expected to grow 5% with a “strong pickup” during the last two quarters of this year, they noted in fleetowner.com.
ATA’s Bob Costello, further forecasted the trucking industry to transport 70% of the freight market by the year 2022 with a 66% increase in revenue (http://fleetowner.com/management/news/freight-outlook-bright-0523/).
Although many would expect to see the number of trucks on the road mounting to meet the rise in freight, Starks explains, that is not the case. More trucks are expected to be purchased but as replacements for older equipment instead of as add-ons, continuing capacity issues.
In addition to truck freight increases, intermodal volumes (“freight moved by a modal combination of truck and rail”) are expected to climb “6.6% a year between 2011 and 2016, and 5.5% annually through 2022” with revenue of $30.7 billion, Fleet Owner explains. Even with this increase, intermodal is still not expected to surpass trucking as the favorable means of transport.
Tonnage, Costello continued, is predicted to take a 24% hike as well by 2022, and whilst the trucking industry remains dominant, “comprising 67% of tonnage and 81% of revenue in 2010,” it’s a different story with the rail industry, the site notes.
As the total tonnage in the trucking industry is increasing, rail is expected to decrease in 2022 to 14.6%.
Trucking will remain the dominant means of transporting your cargo in the next decade, the ATA, HIS Global Insight, and Martin Labbe Associates predicts, and Road Scholar Transport is continuing to keep it that way through the safe transport of your LTL and Truckload freight. Go to www.roadscholar.com to get a quote and view our services!
A more in depth forecast will be given by the FTR on June 9th. Those wishing to attend the webinar can sign up at https://www2.gotomeeting.com/register/188112562.
What are your freight and tonnage predictions for the upcoming years?
Tags: American trucking Associations, ATA, Bob Costello, cargo, Eric Starks, freight, FTR, HIS Global Insight, LTL freight, Martin Labbe Associates, quote, rate, road scholar transport, tonnage, transport, transportation industry, trucking industry, truckload freight, U.S. Freight Transportation Forecast, webinar