The American Trucking Associations ATA) has released a new freight forecast that projects an increase in freight volumes for all modes of transportation by more than 20 percent.
The forecast predicts:
• Overall freight revenue will grow by 63.6 percent — or $1.3 trillion annually — by 2024;
• Trucking will see its share of that revenue rise to 81 percent (up from 80.7 percent in 2012)
• Through 2018, truckload volumes will go up 3.2 percent, and then 1.1 percent annually from 2019 to 2024
• Less-than-truckload (LTL) should grow 3.5 percent annually through 2018, followed by another 2.4 percent until 2024
"The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue," said ATA chief economist Bob Costello.
Costello also notes that the forecast estimates that trucking's share of tonnage will rise to 70.8 percent by 2024, up from 68.5 percent in 2012.
The report, U.S. Freight Forecast to 2024, is a collaboration between ATA, IHS Global Insight, and Martin Labbe Associates.
