August 21, 2019 12:15 PM, EDT

ATA Freight Forecast Predicts 25.6% Growth by 2030

ATA Freight forecast projects growth.Trucks on the road. (John Sommers II for Transport Topics)

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Freight tonnage is projected to increase 25.6% by 2030 according to American Trucking Associations’ Freight Transportation Forecast: 2019 to 2030.

Annual tonnage is expected to grow to more than 20.5 billion tons by 2030, and with it, revenue is expected to jump almost 54% to $1.6 trillion.

RELATED: Truck Tonnage Surges 7.3% in July

“Our annual Freight Forecast is a valuable look at where we are headed so leaders in business and government can make important decisions about investments and policy,” ATA Chief Economist Bob Costello said.

While tonnage is slotted to surge in the industry, its market share is projected to dip below 69% by 2030. Trucking accounts for 71.1% of this year’s total freight tonnage movement in the U.S.

ATA Freight forecast projects growth.

Spear (left) and Costello

“Freight Forecast clearly lays out why meeting challenges like infrastructure and workforce development are so critical to our industry’s success,” ATA President Chris Spear said.

The forecast, released Aug. 21, projects a healthy future for the industry, but notes the prevalence of intermodal rail, air and waterborne transportation commanding larger portions of the market share in years to come.

The ATA Freight Transportation Forecast: 2019 to 2030 is for sale through ATA Business Solutions. Transport Topics