ATA Projects 28% Increase in Freight Tonnage by 2032
JAN 11, 2022 - 6:05 am
The American Trucking Associations released its annual look at the future of the freight economy: U.S. Freight Transportation Forecast 2021 to 2032. The forecast projects a strong rebound and continued growth for freight demand this year and into the future.
“With a focus on the supply chain this year, it is key we understand that among the many stressors on the system, the simple growth in freight demand and the economy is a significant factor,” Bob Costello, chief economist for the ATA, said. “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.”
Total freight tonnage will grow from an estimated 15.1 billion tons in 2021 to 19.3 billion tons in 2032, marking a 28% increase.
While trucks’ 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, including 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 United States will increase from an estimated $1.083 trillion in 2021 to $1.627 trillion in 2032.
“Trucking is continuously looking forward, and [the] freight forecast is a tremendous tool for industry leaders and policymakers to see what the future holds for the transportation sector,” Chris Spear, president and CEO of the ATA, said. “[The] forecast is an indispensable resource for anyone interested in understanding not just the trucking industry, but the entire freight economy.”
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