ATA Releases Data on Future of Freight Industry
Today marked the release of the US Freight Transportation Forecast to 2027. This forecast, which is released by the American Trucking Associations, is designed to measure data pertaining to trucking and predict future trends within the industry.
The forecast showed growth in multiple areas. These include overall freight volumes as well as the overall number of items moved via commercial vehicles. ATA Chief Economist Bob Costello spoke about the data, saying: “As we continue to see growth in the overall economy, particularly due to manufacturing, consumer spending and international trade, we will also see increases in the amount of freight moved in America’s trucks.”
Truck, rail, and water are predicted to lose share to pipeline, which is expected to grow as a direct side-effect of growth in the energy sector. Truckload volumes are predicted to grow at a rate of 2% annually over the next 6 years, and then 1.6% per year after that. The latter figure will continue annually until 2027. Private carrier volumes are expected to grow 2.3% annually until 2022 and then 2.1% each year until 2027.
ATA President and CEO Chris Spear also spoke about these predictions, saying: “No one can know exactly what the future holds for our economy and industry, but Freight Forecast has proven to be a valuable tool for everyone from industry leaders to government policy makers. We do know as long as our economy continues to grow, trucks will continue to move the vast majority of America’s goods, underscoring our industry’s critical role in our country’s future.”