Trucking Trends- Where Are We Now?

The American Trucking Association recently released ATA American Trucking Trends 2016, a comprehensive analysis of the state of the trucking industry. Overall, it was a strong year for trucking and we hope it was a great one for you too.

What’s the Current State of Trucking?

Looking at where the industry is now can help you decide the best paths as you guide your business into the future. Here are a few statistics pulled from the report. What did 2015 look like for you? More information is available from the ATA.

  • Trucking Still Dominates Freight– Trucks carried more freight than any other method, approximately 70% of domestic freight tonnage.
  • Trucking Gross Revenues– Trucking collected more than $726 billion in gross freight revenues during 2015. This was a record setting year for freight revenues.
  • More Money Spent on Trucking– In 2015 trucks received 81.5% of the nation’s freight revenues.
  • Number of Trucks in Operation– More than 3.6 million Class 8 trucks were in operation in the U.S. during 2015.

Where Is the Trucking Industry Headed?

There are certainly challenges in the trucking industry, including increased regulation, fluctuating fuel costs, and driver shortages. As a driver it can be hard to know what the future holds. In addition to the annual Trucking Trends report, the ATA recently released an industry forecast, looking at the future of freight. Let’s take a look at a few highlights.

  • Expected Tonnage Growth of 35%– Between 2016 and 2027 overall freight tonnage is expected to grow 35%. The amount of freight moved by trucks will grow about 27%.
  • Pipeline Use Expected to Grow– The use of pipeline to move freight is expected to increase from about 10% to 17%. This will result in loss of market share by other methods of moving freight including trucking, water, and rail.
  • Truckload Volumes to Increase– Truckload volumes are expected to increase about 2% each year until 2022 and 1.6% annually from 2022-2027.

What Do These Numbers Mean for Me?

Only time knows exactly what’s in store for the trucking industry, but these two reports from the American Trucking Association are positive news for the industry. Right now trucking is still the predominant method for moving freight and revenue and truckload volumes are on the rise. Strong growth is expected to continue over the next several years.

As the industry changes, your insurance needs may too. We are here and ready to help you adjust your policies and find the right coverage for your situation. As your needs change, get in touch and we’ll help you keep your policies up to date.

Leave a Reply