Freight volumes are projected to grow nearly 29% over the next 11 years, according to a report released by American Trucking Associations.

The report projects a 28.6% increase in freight tonnage and an increase in freight revenues of 74.5% to $1.52 trillion in 2026.

ATA’s "U.S. Freight Transportation Forecast to 2026" was produced in collaboration with IHS Global Insight.

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

The report also concluded that trucking will still be the dominant mode of freight transportation, but that its share of the tonnage will dip slightly from 68.8% currently to 64.6% in 2026. The railroad’s share of freight tonnage is forecasted to decrease 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 5.3% after that.

ATA also projects that the number of Class 8 trucks will grow from 3.56 million units in 2015 to 3.98 million in 2026.

The Forecast can be purchased as a bound volume or downloadable PDF here or by calling 1-888-821-3468.