New ATA report sees trucking gains through 2023
Overall, total freight tonnage is expected to grow by 21 percent by 2023, and revenue for the freight transportation industry is projected to rise 59 percent in that same timeframe.
The Trucker News Services
ARLINGTON, Va. — After a significant dip during the Great Recession and a mild economic recovery, the U.S. freight economy, particularly for trucking, is projected to grow significantly in the years ahead, according to American Trucking Associations’ U.S. Freight Transportation Forecast to 2023.
The forecast, a product of collaboration between ATA, IHS Global Insight and Martin Labbe Associates, lays out the current state of the freight economy where trucking is the leading mode of transportation and projects an even more robust role for trucks in the future.
“The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 67 percent of tonnage and 81 percent of revenue in 2011,” ATA Chief Economist Bob Costello writes in this year’s forecast.
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Overall, total freight tonnage is expected to grow by 21 percent by 2023, and revenue for the freight transportation industry is projected to rise 59 percent in that same timeframe. Trucking’s share of the tonnage market will rise over 2 percentage points to 69.6 percent by 2023, while the industry’s share of freight revenues will increase to 81.7 percent from 80.9 percent.
In other surface modes, rail’s overall share of tonnage will fall to 15 percent in 2023 from 15.7 percent in the baseline year of 2011. However, intermodal tonnage will rise 6.2 percent a year between 2012 and 2017, and then 5.4 percent annually through 2023, according to the report.
Domestic waterborne tonnage will show very modest growth between now and 2023 – growing 1 percent annually through 2023. Domestic airfreight tonnage is slated to grow over 4 percent annually during the forecast period.
For anyone that purchases the forecast, Bob Costello will be giving an hour-long webinar on July 31 regarding the latest findings. If the report is purchased after the webinar or purchasers can’t make that time, the webinar will be available for viewing throughout the year.
The ATA U.S. Freight Transportation Forecast to 2023 can be purchased as a bound volume, a CD or a downloadable PDF at www.atabusinesssolutions.com or by calling 1-866-821-3468.
Kevin Jones of The Trucker staff can be reached for comment at email@example.com.
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