Posted by: Deirdre O'Brien, July 31st, 2014
The American Trucking Association has released a report on the outlook of the trucking industry and things are looking very good! Not just for the trucking industry, but for the freight economy overall.
It is expected that overall freight tonnage will grow 23.5 percent from 2013 to 2025 and freight revenues will increase 72% according to the ATA and IHS Global Insight.
Trucking is expected to maintain its position as the nation’s dominant mode of freight transportation.
But as we’ve been hearing all along change is afoot, carriers will need to adapt to succeed as freight transportation is expected to become more and more complex, and more and more competitive.
Commercial Carrier Journal makes the following predictions for the coming decade:
- We will continue to experience driver shortages
- Technician shortages will be even worse
- Our current road systems will require significant investment
- Successful fleet owners are going to be the ones who recognize and accept increased regulation and technology as part of a new business foundation
- Operating costs are going to steadily increase
- To be successful, trucking organizations will need to look at ways to increase their operating efficiencies or offset operating costs as smartly as possible and make technology work on their behalf as much as possible
Aside from the very positive outlook on the growth of the trucking industry, the challenges we’ll be faced with in the coming decade aren’t all that surprising, and the solutions to address many of these challenges are already available today. Fleet management solutions can provide a head start for success now and in the coming decade. And becoming an expert at off-setting costs and increasing efficiencies can provide significant bottom-line results almost immediately.
To read more on this topic, see the following articles: