The American Trucking Associations is forecasting that U.S. trucking’s market share of tonnage should expand to 70.9% in 2019 and to 71.4% by 2025.
Overall, U.S. freight tonnage will rise nearly 25% and revenues from that freight will surge above 70% over the next decade, per the latest long-term freight forecast released by the ATA.
ATA U.S. Freight Transportation Forecast to 2025 predicts further growth not just for trucking industry, but for the entire freight economy, according to ATA chief economist Bob Costello.
“We continue to see growth for the entire freight economy– but we also see that trucking will maintain its position as the nation’s dominant mode of freight transportation,” Costello said.
Findings of the long-range freight outlook include:
- Overall freight tonnage will grow 23.5% from 2013 to 2025 and freight revenues increase by 72%
- Growth in overall freight volume is pegged at 2.8% per year from 2014 to 2019, then it tapers off to 1.0% during the next six years, through 2025
- Trucking’s share of freight tonnage will increase from 69.1% in 2013 to 71.4% in 2025
- Rail intermodal tonnage will grow 5.5% annually through 2019 and 5.1% a year through 2025— yet rail market share will shrink from 14.5% of all tonnage in 2013 to 13.8% in 2025