ARLINGTON, Va. -- A new report from the American Trucking Associations (ATA) suggests the US freight economy, particularly for trucking, will grow significantly in the years ahead.
The ATA US Freight Transportation Forecast to 2023 lays out the current state of the freight economy and projects a stronger role for trucks in the future, the association announced.
“The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 67% of tonnage and 81% of revenue in 2011,” ATA chief economist Bob Costello wrote in this year’s forecast.
Overall freight tonnage will grow by 21% by 2023, the ATA projects. Revenue for the freight transport sector will rise 59% in the same timeframe and trucking’s share of the total freight tonnage market will rise over 2% to 69.6%, the association estimates. Trucking’s share of overall freight revenues is expected to climb to 81.7% from its current 80.9%.
Meanwhile, ATA projects rail will see its overall share of tonnage drop to 15% from 15.7% while intermodal is slated to rise 6.2% a year between 2012 and 2017 and then 5.4% per year through 2023.
The full report is available at www.atabusinesssolutions.com.