ATA Report Sees Trucking Growing Through 2023
Michael G. Malloy/TT
Following a drop during the recession and a mild economic recovery, the U.S. freight economy — particularly trucking — is projected to grow significantly through 2023, according to American Trucking Associations.
ATA’s U.S. Freight Transportation Forecast to 2023, a collaboration among ATA, IHS Global Insight and Martin Labbe Associates, states that 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% of tonnage and 81% of revenue in 2011,” ATA Chief Economist Bob Costello wrote.
Total freight tonnage is expected to grow by 21% by 2023, and revenue for the freight transportation industry is projected to rise 59% in that same timeframe.
Trucking’s share of the tonnage market will rise more than 2% to 69.6% by 2023, while the industry’s share of freight revenue will increase to 81.7% from 80.9%.
Rail’s overall share of tonnage will fall to 15% in 2023 from 15.7% in the baseline year of 2011, though, intermodal tonnage will rise 6.2% per year between 2012 and 2017, and then 5.4% annually through 2023.
Domestic waterborne tonnage will show very modest growth between now and 2023 – growing 1% annually through 2023. Domestic airfreight tonnage is slated to grow over 4% annually during the forecast period.
Costello will be giving an hour-long webinar on July 31 at 2 p.m. Eastern Time for anyone purchasing the report, which is available in a bound volume or by downloadable PDF.
Visit www.atabusinesssolutions.com or call (866) 821-3468 for ordering information.
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