Survey Says: Freight Market Optimism Growing Among Carriers

Highlight Motor Group is among the large motor carriers expecting the trend of a moderate freight market recovery to continue in 2026. (Highlight Motor Group)

Trucking companies are seeing improved freight market conditions this year and for the most part agree with the emerging consensus that the industry is finally recovering from a prolonged downcycle, but some lingering concerns and caveats remain.

As part of its 2026 Top 100 For-Hire Carriers project, Transport Topics asked large for-hire motor carriers to share their perspectives on the current state of the freight market and their projections for rate and volume trends for the remainder of the year.

Nearly all the companies that participated in this portion of the questionnaire cited some degree of improvement this year, but some noted that freight volumes remain uneven across different industry segments and often predicted a gradual recovery in the back half of 2026 rather than a sharp rebound.

The following comments are excerpts from survey responses submitted by a diverse set of large and midsize motor carriers between late April and early June.

“We view the current North American freight market as being in a transitional recovery phase — characterized by stable but unspectacular demand, tightening capacity and gradually improving pricing. This is not a cyclical boom, but a disciplined operating environment where execution, cost control and customer alignment will determine winners.” — Transervice Logistics/Lily Transportation

“We are finally seeing an uptick in volume. Customer rate repricing is happening, even some mid bid cycle. I see 2026 to finish strong and a strong 2027.” — Cheema Freightlines

“I agree that we are emerging from the downcycle. We are seeing less capacity and more demand in the past couple of months. Also, contract and spot rates are increasing. Some of this is due to the less capacity.” — Cargo Transporters

“Business levels are currently the strongest since 2023. Mid- to upper-single-digit improvements in rates and utilization is expected.” — Melton Truck Lines

“It appears there has been a tightening in the industry allowing for some rate increases, but it has been slow and still needs substantial improvement to get the freight industry back to a profitable industry.” — Groendyke Transport

“We are cautiously optimistic about finally emerging from the prolonged downcycle.” — C.R. England

“The freight market is clearly at an inflection point. After nearly four years of a prolonged downcycle driven by excess capacity and soft demand, we are now seeing meaningful signs of a transition toward a tightening environment. It is increasingly evident that the industry is emerging from the bottom, driven in part by a growing need for qualified, experienced drivers among carriers that have remained compliant and operated responsibly over time. What we’re seeing now is capacity exiting the market faster than demand is returning, which has begun to generate upward pressure on rates.” — Hurricane Express

“Cautiously optimistic for the balance of 2026. We are currently seeing modest growth. Concern continues with the events in the Iran war.” — Dayton Freight Lines

“We are still mired in a freight recession, but we are seeing some light at the end of the tunnel.” — Penske Logistics

“Much improved, particularly in the flatbed space. The improvement appears to be more supply driven than demand driven. Rates should land at least 10% higher during 2026 versus 2025.” — PS Logistics

“Yes, rates seem to be on the upward trend, but shippers are still trying to squeeze cost and leverage bids to keep pressure on rates.” — System Freight

“We believe that the North American freight market is in a transition phase, not a full recovery. After a prolonged downcycle that began in 2022, conditions have improved meaningfully in 2026, but the recovery remains uneven and largely supply driven rather than demand driven. We also believe that the bottom of the cycle is behind us; however, we are not yet in a true expansion cycle. Most indicators point to a gradual normalization rather than a sharp rebound. Within drayage and port-centric trucking, the dynamics are slightly more constructive than the broader truckload market. Import volumes are gradually increasing, with forecasts pointing to mid-single-digit growth through parts of 2026.” — Gulf Winds International

“We are seeing a demand-and-pricing improvement period.” — Blackhawk Transport

“We are seeing higher activity in the last three months, which is encouraging.” — Apache Logistics

“Positive! Our volume has significantly increased y-o-y. We expect to exceed revenue targets for this year.” — Hogland Transfer

“We expect demand to continue to trend positively, which should lead to very good comps y-o-y over very soft Q3 and Q4, especially.” — Oak Harbor Freight Lines

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Portland, Ore.-based truckload carrier Market Express cautioned that demand has yet to fully rebound. (Market Express)

“We still believe the industry is in a freight recession, and I’d be cautious about saying we’ve fully exited the downcycle. That said, conditions are improving compared to where we were over the past couple of years, and there are early signs of stabilization. … From our perspective, this is less of a full recovery and more of a gradual transition. Capacity is tightening, which is helping support rates, but demand hasn’t rebounded in a meaningful or consistent way across the board. Looking ahead to the remainder of 2026, we expect modest improvement. Rates may continue to firm slightly, particularly in tighter lanes, but we don’t anticipate a sharp increase.” — Market Express

“The North American freight market appears to be gradually stabilizing after an extended, highly cyclical downturn, but we believe the recovery remains uneven across sectors and regions. While some freight segments are experiencing higher shipment volumes and more disciplined capacity, pricing pressure and operational volatility continue to affect many carriers. … Projecting ahead to the rest of 2026, we anticipate moderate improvement in freight activity and a more rational pricing environment, though not a rapid rebound. Carriers with sound operational discipline, diversified service offerings, integrated logistics capabilities, strategic technology investments and long-term customer relationships will be best positioned to navigate the next phase of the market cycle.” — Alina Savo, director of marketing, Highlight Motor Group

“Yes, [an] improving market seems to be in motion. A combination of regulation enforcement and actual demand showing. Rate increases will need to measure out at 10% or better by year’s end.” — Pride Transport

“[We] agree the market is improving and rates will go up.” — Raider Express

“Recently, Pitt Ohio has seen strong and accelerating demand for our LTL services. While the contraction in driver supply across the truckload market is well documented — and has contributed to some diversion of freight into LTL — our growth is being driven primarily by increased demand from industrial and manufacturing shippers. Based on current trends, we expect this momentum to continue and strengthen through 2026.” — Pitt Ohio

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The freight market is looking up for the remainder of 2026, says Peninsula Truck Lines, an LTL carried based in Federal Way, Wash. (Peninsula Truck Lines)

“The freight market appears to be moving out of the freight recession in Q2 of 2026. We believe this is the beginning of an upward trend that should continue for the rest of 2026.” — Peninsula Truck Lines

“We believe that the capacity in the tank truck sector has adjusted down to a certain level that meets demand so that any increase in the freight volume like we are seeing today would put a squeeze on capacity.” — Andrews Logistics

“We see a truckload recovery and slow growth at this point in time in the LTL market.” — Roadrunner Freight

“Several variables are reducing transportation capacity and shifting market dynamics. Rising costs and regulatory changes affecting non-domiciled drivers, along with [English-language proficiency] enforcement, are pushing capacity out of the market. As capacity tightens, transportation costs, including fuel costs, increase, further straining supply. NFI’s primary dedicated model provides insulation from much of this volatility.” — NFI

“It is evolving rapidly. It seems right now and for the foreseeable future, it’s going to be incredibly busy.” — Long Haul Trucking

“Demand is improving modestly, but carriers continue to face elevated fuel, insurance, labor and equipment costs that are pressuring margins. Overall, this looks more like a slow and uneven normalization than a return to the post-COVID freight boom.” — Chief Express

“Yes, we’re out of the downcycle — only hope it lasts more than a few months. After the Fourth of July break, we will know if it will continue for the remainder of the year. A U.S. recession would definitively throw a wrench in this.” — PGT Holdings

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Intermodal carrier STG Logistics anticipates a measured recovery, rather than a sharp one. (STG Logistics)

“The North American freight market is finally beginning to emerge from the prolonged downturn, although the recovery remains gradual and uneven. We are seeing improved spot rates, a better balance between supply and demand, and more stability in import and intermodal volumes compared to the last several years. … While the recovery will likely remain measured rather than sharp, increasing regulatory, insurance and legal pressures should continue reinforcing a more disciplined operating environment across the industry.” — STG Logistics

“[We believe] things are turning around but [are] cautious surrounding things like the war in Iran, interest rates, consumer spending, etc.” — Anderson Trucking Service

“We have noticed a measurable improvement in the freight market in the last year, and we believe this growth trend will continue. We expect to see increased rates and volume on our end throughout 2026.” — United Petroleum Transports