Overall freight volumes in the US will grow by 63.6% to $1.3 trillion annually in 2024 and trucking will see its share of those revenues rise to 81% from 80.7% in 2012, according to ATA's U.S. Freight Transportation Forecast to 2024.
The forecast, published by ATA's Economics Department, also sees Truckload volumes grow 3.2% through 2018 and 1.1% annually between 2019 and 2024. Less-than-truckload volume should grow 3.5% annually through 2018 and by 2.4% until 2024.
It also forecasts anemic growth for rail carloads of just 1.5% through 2018 and 0.4% from 2019 through 2024 contributing to a decline in market share to 14.2% from 14.8% in 2011.
The Forecast profiles the current state of the entire freight transportation industry and provides an outlook for all modes during the next decade. The report also includes historical data back to 1990.
