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ATA economist forecasts continued growth in US trucking volume
THE American Trucking Associations' US Freight Transportation Forecast to 2027 shows growth in road freight volumes, reports the American Journal of Transportation.
"As we continue to see growth in the overall economy, particularly due to manufacturing, consumer spending and international trade, we will also see increases in the amount of freight moved in America's trucks," said ATA chief economist Bob Costello.
The forecast is for overall freight tonnage to grow by a total of 35 per cent between 2016 and 2027. Over that same timeframe, the amount of freight moved by trucks will grow slightly less at 27 per cent.
Overall, other modes of transport - truck, rail and water - will lose market share to pipeline, which will grow from 10.5 per cent to 17.4 per cent between 2016 and 2027 primarily as a result of growth in the US energy sector.
Truckload volumes will grow two per cent annually between 2016 and 2022 and 1.6 per cent per year after that until 2027. Less-than-truckload volume will grow year after year three per cent through 2022 and 2.8 per cent from 2023 to 2027. Private carrier volumes will grow 2.3 per cent annually until 2022 and 2.1 per cent each year over the next five years.
"No one can know exactly what the future holds for our economy and industry, but Freight Forecast has proven to be a valuable tool for everyone from industry leaders to government policy makers," said ATA president and CEO Chris Spear.
"We do know as long as our economy continues to grow, trucks will continue to move the vast majority of America's goods, underscoring our industry's critical role in our country's future," he said.
"As we continue to see growth in the overall economy, particularly due to manufacturing, consumer spending and international trade, we will also see increases in the amount of freight moved in America's trucks," said ATA chief economist Bob Costello.
The forecast is for overall freight tonnage to grow by a total of 35 per cent between 2016 and 2027. Over that same timeframe, the amount of freight moved by trucks will grow slightly less at 27 per cent.
Overall, other modes of transport - truck, rail and water - will lose market share to pipeline, which will grow from 10.5 per cent to 17.4 per cent between 2016 and 2027 primarily as a result of growth in the US energy sector.
Truckload volumes will grow two per cent annually between 2016 and 2022 and 1.6 per cent per year after that until 2027. Less-than-truckload volume will grow year after year three per cent through 2022 and 2.8 per cent from 2023 to 2027. Private carrier volumes will grow 2.3 per cent annually until 2022 and 2.1 per cent each year over the next five years.
"No one can know exactly what the future holds for our economy and industry, but Freight Forecast has proven to be a valuable tool for everyone from industry leaders to government policy makers," said ATA president and CEO Chris Spear.
"We do know as long as our economy continues to grow, trucks will continue to move the vast majority of America's goods, underscoring our industry's critical role in our country's future," he said.
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