Trucking Association Projects Strong Growth in U.S. Freight, Particularly for Trucks
The U.S. freight economy is projected to grow significantly in the years ahead, according to American Trucking Associations' U.S. Freight Transportation Forecast to 2023. Following a dip during the "Great Recession," total freight tonnage is expected to grow 21% by…
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2023, and revenue for the freight transportation industry is projected to rise 59% in that same timeframe, the forecast said. Trucking's share of the tonnage market will rise over 2 percentage points to 69.6% by 2023, while the industry's share of freight revenues will increase to 81.7% from 80.9%, it said. Rail's overall share of tonnage will fall to 15% in 2023 from 15.7% in 2011, but intermodal tonnage will rise 6.2% a year between 2012 and 2017, and then 5.4% annually through 2023, it said.