Are the current trends in the trucking industry going to change the way that you do business? Whether you like it or not, it probably will. Pausing between your day to day operations to study the current semi truck industry trends will make your day to day operations more smooth. When you’re ahead of the trends in the transportation industry, you can focus on growing your business instead of having to play catch-up.
Top Trucking Industry Updates of 2019
While speaking at a recent NationLease meeting, Senior vice president Rob Garcia gave insight on the upcoming American trucking industry trends. So, what’s going on in the world of semi trucks? In short, the trucking trends of 2019 revolve around the ever-changing market, the current political climate, and the newest technology that is changing the way truck drivers operate.
Last Mile Delivery
The logistics of omnichannel and e-commerce are seeing updates due to the huge surge of online orders. Freight patterns are changing, and now focusing more and more on last mile delivery. Last mile delivery is defined as the movement of goods from a delivery or transportation hub to its final destination. The focus is on customers being delivered their items as quickly as possible. As a
result, drivers will see marketing efforts to adopt this. In addition, traditional delivery methods like FedEx, UPS, and USPS are not available in all areas. This is leading retailers to search for better methods for delivering their products. To accommodate the fast shipping times, companies are looking for more options. Amazon is even reaching out to newcomers and transportation companies alike to see if they will partner with them for deliveries.
As the demand for products increases, the focus on last-mile delivery in the trucking industry will only continue to grow.
Changes in Trucking Industry Legislation
There is legislation currently pending that would require truckers to update the fronts of their trucks and the sides of their trailers with underride guards. However, it is currently on hold. Additionally, the FMCSA has pushed through legislation that will allow for mirrorless trucks. MirrorEye is a digital camera system. Their company has their sites set to replace the rearview and side mirrors on trucks. So, what are the benefits? MirrorEye’s high-resolution cameras aim to improve driver vision and eliminate blind spots. On the plus side, the removal of mirrors from semi-trucks may help decrease fuel consumption by around 2-3% by reducing drag. The mirrorless trucks have been fleet tested in Europe and appear to have made a positive impact by saving fuel costs by two to three percent a year.
Regulation on Emissions
Big rigs on the road emit an estimated total of 530 million tons of carbon dioxide every day. To combat pollution, lawmakers have passed new regulations on the trucking industry. By 2027, drivers will have to make changes to their semi-trucks. Standards for 2027 are requiring that trucks and tractors emit 25 percent less carbon dioxide and consume 25 percent less fuel. By 2021, emissions need to be reduced by 1.8 percent, and by 2024, 4.2 percent.
Maintenance and Parts Updates
Trucking trends show that businesses are expanding outside of the realm of the OEM network to get parts, services, and maintenance for their equipment. Because EPA-compliant vehicles are becoming more complicated, it’s been a necessary move on most fronts. A secondary service network is getting built up to provide people with replacement parts.
As well as finding different parts, big rig drivers are looking for ways to fuel their equipment outside traditional methods. The scale of the electric vehicle industry is on the verge of explosion. Local truck fleets are going to start operating out of a 100-mile space with electric vehicles. The travel time for electric trucks is only set to get longer and longer. As electric vehicles improve, they will start to impact the trucking industry more and more.
More Important Updates for the Trucking Industry
A big topic on a lot of truckers minds’ that was not touched on by Rob Garcia was the truck driver shortage. By the end of 2018, the trucking industry was short over 60,00 drivers. Originally reported as a shortage of 10,000 drivers at the beginning of 2018. The deficit is expected to increase to over 160,000 over the next decade.
An upside of the shortage is driver pay has increased 25% in the past few years that truck drivers’ numbers started to drop. What does this mean? Well, truck drivers are in high demand. If you were thinking about starting or expanding your trucking company, now is the time.
TopMark Funding is here to offer you the cutting edge on semi truck financing rates. Even if you’ve never received funding before, we want to work with you to make sure you can secure your funding. Trucking industry trends may fluctuate all the time, but our top tier service is consistent. If you want to work with people who will work hard to get you the financing you need, then give us a call today.