ARLINGTON, Va. — The volume of goods transported by trucks rebounded strongly in 2021 and is set to keep growing in 2022 and beyond, according to the American Trucking Associations' (ATA) latest forecasting.
"After falling 6.8% in 2020, freight volumes are set to surge 7.4% this year," ATA Chief Economist Bob Costello said, "and we will see continued growth in freight demand across all modes for the foreseeable future.
"With a focus on the supply chain this year, it is key we understand that among the many stressors on the system, the simple growth in freight demand and the economy is a significant factor," he added.
Some key findings of this year's forecasting:
• Freight tonnage will grow to 19.3 billion tons in 2032 from an estimated 15.1 billion tons in 2021, which in turn grew 7.4% over 2020. The growth through 2031 represents a 28% increase.
• While trucking's share of the freight tonnage will decline slightly to 71% in 2032 from 72.2%, overall volumes will grow across all segments of the industry: truckload, less-than-truckload and private carrier. Truck tonnage should grow to 13.7 billion tons in 2023 from 10.2 billion tons this year, or more than 34%.
• Revenue derived from primary freight shipments in the U.S. will increase to an estimated to $1.63 trillion in 2032 from $1.08 trillion in 2021, or an increase of nearly 51%.
The ATA's research — U.S. Freight Transportation Forecast 2021 to 2032 — is available for purchase at atabusinesssolutions.com at $125 for ATA members and $250 for non-members.