American Trucking Associations recently released the latest edition of ATA U.S. Freight Transportation Forecast to 2025, a look at the future of freight, which predicts continued growth for both the trucking industry and freight economy overall.
According to Forecast, which is produced by ATA in conjunction with IHS Global Insight, overall freight tonnage will grow 23.5% from 2013 to 2025 and freight revenues will jump 72%.
“We continue to see growth for the entire freight economy, but we also see that trucking will maintain its position as the nation’s dominant mode of freight transportation,” said ATA Senior Vice President and Chief Economist Bob Costello in a statement.
According to the latest edition of Forecast:
- Trucking’s share of freight tonnage will grow from 69.1% in 2013 to 71.4% in 2025;
- Truckload volume will grow 3.5% a year through 2019, then 1.2% annually from 2020 to 2025; however, truckload carriers will make greater use of intermodal rail for intermediate- and long-distance hauls.
- Rail intermodal tonnage will grow 5.5% annually through 2019 and 5.1% a year through 2025.
- Railroad market share will shrink from 14.5% of all tonnage in 2013 to 13.8% in 2025.