After a challenging couple of years, the trucking industry is gearing up for better days ahead. According to the American Trucking Associations Freight Transportation Forecast 2024 to 2035, truck freight is on track for a solid rebound in 2025. The report, developed with S&P Global Market Intelligence, predicts a 1.6% rise in truck freight volume this year. Looking further ahead, total freight tonnage is expected to hit nearly 14 billion tons by 2035.
Trucking: The Backbone of U.S. Freight
The numbers don’t lie—trucking remains the heavyweight champion of freight transportation. Bob Costello, ATA’s Chief Economist, highlighted the industry’s dominant position:
“In this edition of 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 market share to hold over the next decade as the country continues to rely on trucking to move the vast majority of freight.”
Key Takeaways from the ATA Forecast
The report offers a clear look at what’s ahead for the freight industry:
- Trucking’s Continued Growth
Truck tonnage is expected to climb from 11.27 billion tons in 2024 to nearly 14 billion tons by 2035. Revenue growth will follow, increasing from $906 billion to an impressive $1.46 trillion by the end of the forecast period. - Shifts in Rail Freight
Railroads are expected to see their market share shrink slightly, dropping from 10.6% in 2024 to 9.9% by 2035. That said, intermodal rail will see modest annual growth rates of 2.9% through 2030 and 2.8% from 2031 to 2035. - Opportunities in Other Freight Sectors
Air cargo, waterborne transportation, and pipelines are all set to grow, playing a complementary role in the freight network alongside trucking.
Why It Matters
Chris Spear, ATA President and CEO, emphasized the importance of understanding these trends:
“Knowledge is power, and the information in Freight Forecast is an enabler for the leaders who shape our industry,” he explained. “Understanding the trends in our supply chain should be key for policymakers in Washington, in statehouses around the country and wherever decisions are being made that affect trucking and our economy.”
A Brighter Road Ahead
The future of trucking looks promising, with steady growth and an unwavering role in moving the nation’s goods. Armed with insights from the ATA forecast, industry leaders and policymakers can make smarter decisions, ensuring they’re ready to tackle the opportunities and challenges of the coming years.
Source: The Trucker
