ARLINGTON, VA — A new report released on Monday said the amount of freight that’s expected to be moved over the next decade should increase by nearly 30% from its current level.

According to the American Trucking Associations and the economic analysis firm IHS Global Insight, expect to see in the U.S. a 28.6% increase in freight tonnage and jump in freight revenues of 74.5% to US$1.52 trillion in 2026.

“The outlook for all modes of freight transportation remains bright,” said ATA Chief Economist Bob Costello. “Continued population growth, expansion of the energy sector and foreign trade will boost trucking, intermodal rail and pipeline shipments in particular.”

Trucking will still be the dominant mode of freight transportation, although the share of tonnage it hauls dips slightly in the U.S., according to the study, even though truck tonnage grows over the forecast period, its share will dip from 68.8% in 2014 to 64.6% in 2026.

Other forecast’s findings include:

• Due to tremendous growth in energy production in the U.S., pipelines will benefit more than other modes of transportation in the country. Between 2015 and 2026, pipeline volumes will increase an average of 10.6% a year and their share of freight will increase from 10.8% in 2015 to 18.1% in 2026.
• While railroads’ share of freight tonnage in the U.S. will drift down from 14.2% in 2015 to 12.3% in 2026, intermodal freight will be the second fastest growing mode at 4.5% annually through 2021 and increase 5.3% per year thereafter.
•  The number of Class 8 trucks in use in the U.S. will grow from 3.56 million in 2015 to 3.98 million by 2026.