The nation’s freight volume will increase 2.8 percent this year, according to the American Trucking Associations (ATA) Freight Transportation Forecast 2017, and 15.18 billion tons of freight will be shipped.
The report, released by the ATA, makes predictions for the trucking industry and freight transportation over the next decade.
Through 2023, annual growth is forecasted to be 3.4 percent, which will be followed by an annual growth rate of 2.3 percent.
In 2028, 20.73 billion tons of freight are expected to be shipped, a 36.6 percent increase from 2017.
The increases are attributed to economic increases and population growth, the report said.
While freight tonnages rise, the amount shipped by trucks will fall to 67.2 percent by 2028 as other shipping modes handle capacity shortfalls.
“As we look ahead at the rest of the 21st Century, the projections found in Freight Transportation Forecast are invaluable to decision makers in the board room and the hearing room alike,” ATA President and CEO Chris Spear said. “Having good, accurate data is critical to making sure businesses are making appropriate investments in their companies and that our government is making the proper investments in our nation’s infrastructure.”
ATA Chief Economist Bob Costello discussed the results of the report with the media last week.