US Freight Trucking Revenues to Grow 3.3% Annually in Nominal Terms to 2022
Rising Manufacturers' Shipments, Retail Sales, and Trade Levels Will Drive Gains
CLEVELAND, Dec. 6, 2018 /PRNewswire/ -- The US freight trucking industry is forecast to see revenue increases of 3.3% annually in nominal terms through 2022, according to Freight by Truck: United States, a report recently released by Freedonia Focus Reports. Advances will be driven by rising manufacturing, retail, and trade activity. Faster gains will be restrained by ongoing issues in the recruitment and retention of drivers – amid an environment of full employment and increasingly competitive pay – and resulting capacity limitations. However, freight customers may get an inflated sense of tightness in the industry if they find themselves unable to secure transportation on short notice, particularly as capacity can be allocated far in advance.
More information about the report is available at:
https://www.freedoniafocusreports.com/Freight-by-Truck-United-States-FF85026/
Other limiting factors include potentially reduced productivity due to intensified regulation (specifically hours of service), and continuing competition from alternative modes of transport. The growing popularity of intermodal freight shipment represents a mixed bag of drivers and constraints for the trucking industry, as trucks will capture share from competing modes where trucking represents a more economical mode for a particular leg of freight shipment, and yield share where it does not. Finally, difficulty entering markets served by captive fleets will remain a barrier to industry growth.
These and other key insights are featured in Freight by Truck: United States. This report forecasts to 2022 US freight trucking revenues in US dollars to 2022. Total revenues are segmented by establishment in terms of:
- general freight trucking, long-distance, truckload
- general freight trucking, long-distance, less-than-truckload
- general freight trucking, local
- specialized freight trucking, local
- specialized freight trucking, long-distance
- specialized freight trucking, used household and office goods moving
To illustrate historical trends, total revenues in nominal and real (inflation-adjusted) terms, the various segments, and trade are provided in annual series from 2007 to 2017.
The scope of this report includes the revenues of for-hire trucking firms, which span services purchased on-demand and on longer-term contracts, as well as for-hire fleets that are dedicated to a particular client. Captive trucking services, such as retail stores that maintain their own trucking fleets, are excluded. Also excluded are courier and express delivery services (e.g., parcel delivery).
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Services & Industries reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
Press Contact:
Corinne Gangloff
+1 440.684.9600
[email protected]
SOURCE The Freedonia Group
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