Latest Freight Forecast Projects 25.6% Increase in Tonnage by 2030
ARLINGTON, Va., Aug. 21, 2019 /PRNewswire/ -- Today, the American Trucking Associations released its latest ATA Freight Transportation Forecast: 2019 to 2030, an annual projection of the state of the freight economy, showing continued growth in the industry.
"America's trucking industry, and the overall freight transportation industry, are poised to experience strong growth over the next decade as the country's economy and population grow," said ATA Chief Economist Bob Costello. "Our annual Freight Forecast is a valuable look at where we are headed so leaders in business and government can make important decisions about investments and policy."
Among the findings in this year's Forecast:
Overall freight tonnage will grow to 20.6 billion tons in 2030, up 25.6% from 2019's projection of 16.4 billion tons.
Freight industry revenues will increase 53.8% to $1.601 trillion over the next decade.
Trucking's share of total freight tonnage will dip to 68.8% in 2030 from 71.1% this year, even as tonnage grows to 14.2 billion tons in 2030 from 11.7 billion tons.
Trucking and total rail transportation will lose relative marketshare, even as revenues and tonnage grows, while intermodal rail, air and domestic waterborne transportation will show modest growth and pipeline transportation will experience explosive growth ? surging 17.1% in tonnage and 8.6% in revenue over the next decade.
"Freight Forecast clearly lays out why meeting challenges like infrastructure and workforce development are so critical to our industry's success," said ATA President and CEO Chris Spear. "It belongs on the desk of every decision maker in our industry and in the supply chain."
ATA Freight Transportation Forecast: 2019 to 2030 is available for sale now at ATA Business Solutions. To purchase a copy, click here.
American Trucking Associationsis the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nation's freight. Follow ATA on Twitter or on Facebook. Trucking Moves America Forward
Canada Post issued a new stamp today to mark two important Islamic holidays: Eid al-Fitr and Eid al-Adha. The commemorative stamp features maamoul, Middle Eastern cookies, and a traditional carved wooden mould used to make them....
The "Decarbonizing Aviation and Maritime Industries - 2024" report has been added to ResearchAndMarkets.com's offering.
The urgent push for decarbonization in the heavily emitting aviation and maritime industries has given rise to a concerted focus...
Archer Aviation Inc., a leader in the development of electric vertical takeoff and landing ("eVTOL") aircraft, today announced the successful completion of rigorous battery pack drop testing conducted at a National Institute for Aviation Research...
The "Startups Revolutionizing Mobility - Wheels of Change" report has been added to ResearchAndMarkets.com's offering.
The explores 14 key emerging trends within this sector, shedding light on the dynamic changes driven by innovative startups....
Genuine Parts Company , a leading global distributor of automotive and industrial replacement parts, plans to release first quarter financial results on April 18, 2024. Following the release, management will host a conference call at 8:30 a.m. ET....
GreenPower Motor Company Inc. (the "Company"), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus...