The American Trucking Associations released its annual forecast of the freight economy, which shows a strong rebound and continued growth for freight demand.
Some key findings of the U.S. Freight Transportation Forecast 2021 to 2032include:
ATA Forecast Shows Freight Recovery
After a pandemic-induced dip in freight volumes, freight is expected to grow by 7.4% this year.
December 21, 2021
“After falling 6.8% in 2020, freight volumes are set to surge 7.4% this year,” said ATA Chief Economist Bob Costello.
File Photo: Uber Freight
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Total freight tonnage will grow from an estimated 15.1 billion tons in 2021 to 19.3 billion tons in 2032 – a 28% increase.
While truck’s share of the freight tonnage will slowly decline from 72.2% in 2021 to 71% in 2032 – overall volumes will grow across all segments of the industry: truckload, less-than-truckload and private carrier. Truck tonnage should grow from 10.23 billion tons this year to 13.7 billion tons in 2023.
The total revenue derived from primary freight shipments in the U.S. will increase from an estimated $1.083 trillion in 2021 to $1.627 trillion in 2032.
“After falling 6.8% in 2020, freight volumes are set to surge 7.4% this year – and we will see continued growth in freight demand across all modes for the foreseeable future,” said ATA Chief Economist Bob Costello.
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