ATA U.S. Freight Transportation Forecasts to 2029.
ATA’s premier economic planning resource, the Forecast which profiles the current state of the entire freight transportation industry has freight volumes to increase 4.2% this year and by another 35.6% by 2029.
The report provides an outlook for all modes during the next decade including the amount of tonnage to be hauled, the revenue collected from those volumes by mode, as well as retail truck sales over that period, the number of Class 8 vehicles in operation and more.
The US Freight Transportation Forecast shows solid momentum with growth averaging a robust 3.0% annual rate over the second half of last year. Other numbers in the report according to Jeff Berman, Group News Editor at Logistics Management Magazine include:
- Total tonnage transported will reach nearly 16 billion tons in 2018 – a figure that should rise 35.6% to 21.7 billion tons in 2029;
- Truck volumes are expected to grow 2.3% per year from 2019-2024 and 2.2% annually for the next five years;
- Changes in demand for commodities – notably commodities moved by pipeline – will alter trucking’s share of freight volumes. In 2018, trucks are projected to move 70.2% of total tonnage, that share is expected to sink to 65.9% in 2029. Nonetheless, the trucking industry will remain the single largest mover of freight; and
- The transport of freight by rail, including intermodal, will account for 12.6% of tonnage this year – but that figure is expected to drop to 10% in 2029 – again, due to strength in pipeline, not falling rail volumes.
You can read his report here:
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