Trucking to Remain Strong in the Future
The future for the overall trucking industry continues to look bright, with overall freight volumes expected to increase in the very near future.
Eric Starks, president of FTA Associates predicts total trucking freight volume to grow 5% this year. As previously reported, the ATA predicts freight to grow at a strong rate until 2022. Both of these signs demonstrate the strong recovery of the trucking industry over both the short and long terms.
Bob Costello from the ATA stated “The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 67% of tonnage and 81% of revenue in 2010.”
Businesses that are both directly and indirectly related to trucking will benefit from the strong performance of the trucking industry. There will be an increase in the availability of trucking jobs as carriers look to hire new drivers to keep up with demand.
Businesses that also manufacture trucking equipment will benefit, as increased cash flow to trucking companies will allow them to both grow their fleets and replace aging equipment. Recently, Mack has announced an increase in production of heavy trucks in response to current growing demand.
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