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Trucking industry decision-makers rely on Trends to provide data on current market conditions, such as: trucking revenues, truck freight tonnage, employment trends, safety issues, diesel fuel price trends, domestic and international trade, taxes paid by the industry, and the environment.
2024 Freight Economy Outlook. Fleets are always subject to the whims of micro and macroeconomics. A national retailer that goes out of business or geopolitical upheaval half a world away can upend even the most astute analyst’s predictions. And then there is the true intangible: Mother Nature. Hurricanes can menace ports and infrastructure ...
As we enter the final quarter of 2024, the North American trucking industry continues to navigate economic shifts and market adjustments. While the economy has shown resilience, the effects of higher interest rates and tightening credit conditions are becoming more apparent.
Figure 6. Employment and hourly earnings for general freight trucking, long distance. Myriad of Factors Affect Trucking The post-COVID freight recession that began in early 2022 was one of the deepest on record (ft.com, August 2024), though the industry is stabilizing. Shipments rose by 9% year-over-year, while tender rejections dropped in Q2/2024.
Better times are ahead for the trucking industry and 2024 will be an improvement over the previous year, but progress will be incremental. It’s important that, as the market continues to rebound, companies stay mindful of current trends in order to remain competitive.
Everything shipping pros need. Get expert insight on spot & contract trucking rate trends in the U.S. market, an economic breakdown and our proprietary index, the Coyote Curve.
Industry analysts and researchers have predicted a 2025 trucking economy upturn for months, but with only small signs of improvement, other analysts have predicted the upturn to happen in 2026 and ...
This article examines vital trucking trends affecting the industry, such as sustainability, digital innovation, regulatory compliance, and workforce development. Through knowledge and insight, companies can adapt and seize opportunities to achieve sustainable growth and operational excellence.
The trucking industry is going through a transformation, adapting to new technology, sustainability measures, and changing consumer demands. The transformation also includes improvement in areas of fleet management, vehicle and fuel efficiency, and driver safety.
2024 Trucking Industry Forecast. It’s been an interesting 2023 for the trucking logistics industry, between rising and dropping fuel prices, economic volatility, freight recessions, driver shortages, inflation battles and so much more. So what’s coming around the bend as we move into 2024? 1. Continued economic concerns.