Truckload volumes are expected grow 1.8 percent per year on average through 2027, with even stronger growth predicted in less-than-truckload, according to the latest U.S. Freight Transportation Forecast report from the American Trucking Associations.
The amount of cargo moving by truck in the United States is expected to grow 27 percent between 2016 and 2027, according to the latest U.S. Freight Transportation Forecast report from the American Trucking Associations (ATA).
ATA noted in the report overall freight tonnage in the U.S. is projected to grow 35 percent during that same time period.
Truckload volumes are expected grow 2 percent annually between 2016 and 2022 and 1.6 percent each year after that until 2027, while less-than-truckload (LTL) volumes are predicted to grow at a 3 percent rate through 2022 and 2.8 percent from 2023 to 2027, according to the report.
Private carrier volumes are projected to rise 2.3 percent annually through 2022 and 2.1 percent in each of the following years through 2027.
ATA predicts that all modes of transportation, including trucking, rail and water, will lose market share to pipeline transportation, which is expected to grow from 10.5 percent to 17.4 percent in the next ten years thanks to sustained growth in the U.S. energy sector.
“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,” ATA Chief Economist Bob Costello said of the report.
“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,” added ATA President and CEO Chris Spear. “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.”
ATA: Trucking volumes to grow 27% by 2027
