ARLINGTON, VA — The American Trucking Associations’ (ATA) U.S. Freight Transportation Forecast to 2023 shows the U.S. freight economy is projected to grow significantly in the years ahead.
The U.S. freight economy has had its ups and downs, first experiencing a significant dip during the recession and a mild economic economy, but according to ATA, the years ahead hold the promise of significant growth.
“The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 67 percent of tonnage and 81 percent of revenue in 2011,” ATA chief economist Bob Costello wrote in this year’s forecast.
The forecast, a collaborative product between ATA, IHS Global Insight and Martin Labbe Associates, shows the current state of the freight economy and where it’s going in the future.
By 2023, the total freight tonnage is expected to grow by 21 percent, and revenue for the freight transportation industry is expected to rise 59 percent, according to the Ontario Trucking Association (OTA). Furthermore, by 2023, trucking’s share of the tonnage market will rise over two percentage points to 69.6 percent, while the industry’s share of freight revenues will increase by 0.8 percent to 81.7 percent.
The full report can be purchased here.
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