ATA Suggests Good Times on the Horizon
The American Trucking Association (ATA) has done its research and finds that, despite inconsistency in growth in 2023 and 2024, 2025 is currently set to be a year of continuous growth, with many more prosperous years to come.
Details
According to the ATA, truck volume is anticipated to increase by 1.6% in 2025, with the total tonnage of goods shipped rising to 14 billion per year by 2035.
“In this edition of [our] forecast, the trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 72.7% of tonnage and 76.9% of revenue in 2024,” said ATA chief economist Bob Costello. “We project that marketshare to hold over the next decade as the country continues to rely on trucking to move the vast majority of freight.”
Beyond 2025, ATA predicts the revenue of the trucking industry to increase from $906 billion to $1.46 trillion in 2035, an annualized increase by approximately 4.8%. While the tonnage of goods is projected to increase at approximately the same rate of inflation, revenue is expected to beat it easily, implying an increase in the value of goods such as refined metals and finished products such as technological gadgets that are being shipped across the country.
Conclusion
While these are simply projections, they are grounded in the basis of demand for luxury consumer goods increasing as the economy continues to turn around. It will be interesting to see as to whether or not these predictions from the ATA will come true, but based off what we have seen, we are placing our chips on “yes.”
With the trucking industry currently set to grow significantly and steadily in the upcoming decade according to the American Trucking Associations, now is a great time to expand within the industry. TopMark Funding can help by helping you expand your fleet with new or used trucks or trailers. With a soft credit check, it does not hurt to see your options. Read on below for more on what we can do for you.
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