ATA predicts trucking industry will grow

ARLINGTON, Va. — The American Trucking Associations (ATA) predicts continued growth for freight transportation overall and for the trucking industry in particular through 2028.

"As the U.S. population grows and the economy increases with it, we will see continued gains in demand for freight transportation," said ATA Chief Economist Bob Costello.

In its new report, "ATA Freight Transportation Forecast 2017," the ATA projects freight volumes to grow 2.8 percent in 2017, followed by 3.4-percent annual growth through 2023. After that, the ATA projects a more modest growth rate of 2.3 percent annually.

In 2017, the ATA predicted that 15.2 billion metric tons of freight will be moved by all modes — increasing 36.6 percent to 20.7 billion tons in 2028.

"Over the forecast period, capacity shortfalls will develop," the report said. "We are starting to see some selected tightness in freight handling capacity, enough to suggest that capacity expansion will be required if the modes are going to be able to handle anticipated growth."

Trucking will remain the dominant form of freight transportation, according to the ATA, although its share of freight tonnage will dip to 67.2 percent by 2028 as pipelines — and to a lesser extent, rail intermodal — pick up most of the additional market share,

"As we look ahead at the rest of the 21st Century, the projections found in Freight Transportation Forecast are invaluable to decision makers in the board room and the hearing room alike," ATA President and CEO Chris Spear said in a statement.

"Having good, accurate data is critical to making sure businesses are making appropriate investments in their companies and that our government is making the proper investments in our nation's infrastructure."

ATA Freight Transportation Forecast is available for purchase at http://trck.ng/Forecast or by calling 866-821-3468.