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Growth rate of US freight volumes hauled by truck to accelerate until 2023: ATA

THE volume of freight hauled by trucks will rise 2.8 per cent in 2017 to 10.73 billion tonnes. The growth rate is then forecast to accelerate to 3.4 per cent annually through 2023, according to the American Trucking Associations' Freight Transportation Forecast for 2017.

All forms of freight movement are increasing, yet trucking will remain the leading freight mode. Manufacturing, consumer spending and international trade are among the key contributors to the growth.



In 2017, approximately 15.18 billion tonnes of freight will be moved by all transportation modes - trucking, rail, air cargo, water or pipeline - which will rise 36.6 per cent to 20.73 billion tonnes in 2028, ATA was cited as saying in a report by Los Angeles-based Trucks.com.



Freight volumes hauled by trucks will retreat to a more modest annual growth rate of 2.3 per cent between 2023 and 2028. Freight tonnage is projected to grow 40.4 per cent between now and 2028. Revenue from hauling goods is expected to rise 89.1 per cent by 2028.



Over the forecast period, shortfalls will develop as the industry starts to experience "selected tightness in freight handling capacity, enough to suggest that capacity expansion will be required if the modes are going to be able to handle anticipated growth," chief economist for ATA, Bob Costello, was quoted as saying.



"I think this (report) highlights that all modes of transportation are going to grow," Mr Costello said. "As an industry association that represents the largest of those 'trucking' that's going to be our challenge to figure out how to move all of this freight."



The average growth of truckload tonnage will be 2.7 per cent per year from 2017 to 2023, then taper off to two per cent per year from 2024 to 2028. 



Trucking companies' revenue, including both for-hire carriers and private fleets, is estimated to reach US$719 billion in 2017, making up 79.9 per cent of the $900 billion generated by all transportation modes. That number is expected to rise to $1.25 trillion with 77.7 per cent of the total transportation mode revenue by 2028.
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