In its freight transportation forecast for 2017, American Trucking Associations projected freight volumes to grow 2.8% in 2017, and then follow that up with 3.4% annual growth through 2023. After that, ATA projected a more modest growth rate of 2.3%. In 2017, ATA projects that 15.18 billion tons of freight will be moved by all modes, a figure that rises 36.6% to 20.73 billion tons in 2028.

“As the U.S. population grows and the economy increases with it, we will see continued gains in demand for freight transportation,” said Bob Costello, ATA chief economist. “While overall truck volumes will continue to rise, and trucking will remain the dominant freight mode, its share of freight tonnage will dip to 67.2% by 2028, with pipelines picking up most of the additional market share, and, to a lesser extent, rail intermodal.”

“Over the forecast period, capacity shortfalls will develop,” the report said. “We are starting to see some 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.”

“As we look ahead at the rest of the 21st century, the projections found in Freight Transportation Forecast are invaluable to decision makers in the board room and the hearing room alike,” said Chris Spear, ATA president and CEO. “Having good, accurate data is critical to making sure businesses are making appropriate investments in their companies and that our government is making the proper investments in our nation’s infrastructure.”