ATA Report Projects Freight Volumes Growing Through 2024
Freight volumes through 2024 are projected to increase by more than 20% for all modes of transportation, with trucking taking a larger share, according to a new report by American Trucking Associations.
ATA’s U.S. Freight Transportation Forecast to 2024, a collaboration among ATA, IHS Global Insight and Martin Labbe Associates, states that trucking continues to be the leading mode of transportation and projects its share of tonnage will increase.
“The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue,” ATA Chief Economist Bob Costello said.
Trucking’s share of the tonnage market will rise to 70.8% by 2024 from 68.5% in 2012, while the industry’s share of freight revenue will increase to 81% from 80.7% in 2012.
According to the report, overall freight revenue will grow by 63.6% to $1.3 trillion annually in 2024.
Intermodal rail will continue to be the fastest-growing freight mode, rising an average of 5.1% a year until 2018 then slowing moderately to 4.8% annual through 2024.
Other modes of transportation, including airfreight, waterborne transportation and pipelines, will see moderate volume and revenue growth, according to the report.
Costello will host a webinar Aug. 1 at 2 p.m. Eastern Time for anyone purchasing the report, which is available in a bound volume or by downloadable PDF.
Visit www.atabusinesssolutions.com or call (866) 821-3468 for ordering information.
