Report predicts rebound, strong growth for freight
After falling nearly 7% in 2020, freight volumes are expected to surge more than 7% this year, with continued growth in demand across all modes, ATA forecast shows.
Freight volumes will rebound this year and remain strong across all modes of transportation, according to the American Trucking Associations’ (ATA) U.S. Freight Transportation Forecast, an annual look at the future of the freight economy, the group said today.
The forecast shows that after falling 6.8% in 2020, freight volumes are expected to surge 7.4% this year, according to ATA Chief Economist Bob Costello.
The report also forecasts a 28% increase in freight tonnage between 2021 and 2032. Trucking’s share of freight tonnage will slowly decline during that period—from 72.2% to 71%—but overall volumes will grow across all segments of the industry, including truckload, less-than-truckload, and private carrier, ATA said. Truck tonnage is expected to grow from 10.23 billion tons this year to 13.7 billion tons in 2023.
The report also found that total revenue derived from primary freight shipments in the United States will increase from an estimated $1.083 trillion in 2021 to $1.627 trillion in 2032.
Trucking