The trucking industry will continue to gain tonnage share from an overall increasing freight volume from now to 2014, projects the American Trucking Associations in its U.S. Freight Forecast to 2024.
Freight volumes will increase for all modes of transportation by 20 percent, and freight revenue will grow by 63.6 percent to $1.3 trillion a year by 2024, ATA says.
ATA’s also forecasting that trucking’s share of tonnage will grow a few percentage points during the next 10 years to 70.8 percent from 2012’s 68.5 percent.
Truckload volumes will grow 3.2 percent through 2018 and then 1.1 percent annually to 2024, while less-than-truckload volume will see growth of 3.5 percent annual to 2018 and then 2.4 percent to 2024, the report forecasts.
Rail will see a decline in market share, while intermodal will grow rapidly, ATA projects, seeing about a 5 percent annual increase between now and 2014.
The report is available for purchase at atabusinessolutions.com or by calling 866-821-368.