It’s been a tough few years for the economy and significant growth doesn’t appear to be on the immediate horizon. However, the commercial trucking industry is a different story as a recent report predicts substantial growth over the next decade.
According to American Trucking Associations’ U.S. Freight Transportation Forecast to 2023, which is a product of collaboration between ATA, IHS Global Insight and Martin Labbe Associates, the current state of the commercial truck projects significant growth.
“The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 67 percent of tonnage and 81 percent of revenue in 2011,” ATA Chief Economist Bob Costello wrote in this year’s forecast.
Overall, total freight tonnage is expected to grow by 21 percent by 2023, and revenue for the freight transportation industry is projected to rise 59 percent in that same timeframe, an ATA press release on the report said. Trucking’s share of the tonnage market will rise over 2 percentage points to 69.6 percent by 2023, while the industry’s share of freight revenues will increase to 81.7 percent from 80.9 percent.
With a bright future ahead for the commercial trucking industry, Diesel Driving Academy offers students the chance to have real world experience behind the wheel of a truck in order to prepare for this growing career field. Professional instructors offer the best truck driver training in the nation and graduates of the CDL training program are often highly sought after by carriers from across the country.
The commercial truck industry is seeking new drivers to fill the demand as shipping routes increase and more trucks hit the road. But there is also a need to take over for a generation of truckers preparing to enter retirement. Thousands of jobs are available but not enough trained drivers are there to take them.
The ATA’s report also said rail’s overall share of tonnage will fall to 15 percent in 2023 from 15.7 percent in the baseline year of 2011. However, intermodal tonnage will rise 6.2 percent a year between 2012 and 2017, and then 5.4 percent annually through 2023. In another good sign for the trucking industry, domestic waterborne tonnage will show very modest growth between now and 2023 – growing 1 percent annually through 2023, an ATA press release said. Domestic airfreight tonnage is slated to grow over 4 percent annually during the forecast period, which will have a positive impact on the commercial trucking industry.
If you are interested in taking advantage of this forecast for growth then Diesel Driving Academy is the best place to start as some of the nation’s finest commercial truck drivers are being trained to meet the growing the demand for more CDL drivers.
