Trucking Industry to Move 14 Million Tons by 2035

Trucking Industry Set for Major Growth: 14 Million Tons by 2035

The trucking industry is on track for significant growth in the coming years, with projections indicating it will move nearly 14 billion tons of freight annually by 2035, according to the American Trucking Associations’ (ATA) latest Freight Transportation Forecast 2023-2035. This growth highlights the critical role trucking continues to play as the backbone of the U.S. supply chain and economy.

The forecast, developed in partnership with IHS Markit, provides a detailed outlook on the future of freight transportation across all modes, with trucking expected to remain the dominant player. Currently responsible for moving over 72% of freight tonnage in the United States, the industry is anticipated to handle an even larger share in the years to come.

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. Despite economic uncertainty and challenges like driver shortages and inflationary pressures, trucking will continue to lead freight transportation in both volume and value, said ATA Chief Economist Bob Costello. We’re looking at steady growth as the U.S. economy and supply chains evolve.

Key Takeaways from the Forecast

• Tonnage Growth: Total freight volumes are expected to increase by 21% by 2035, reaching nearly 14 billion tons annually. Trucking’s share of this growth will remain significant.
• Economic Contribution: The report estimates the value of freight moved by trucking will surpass $16 trillion by 2035, underscoring its vital role in driving economic activity.
• E-commerce and Last-Mile Delivery: The rise of e-commerce and the demand for efficient last-mile delivery services will further fuel the trucking industry’s growth, as consumer expectations for faster and more reliable deliveries continue to rise.
• Intermodal Collaboration: While trucking leads freight transportation, other modes like rail and intermodal will also see growth, with collaboration across modes becoming increasingly important to meet future demand.

Challenges Ahead

While the future looks promising, the trucking industry will need to address several challenges to sustain this growth. Driver shortages remain a pressing issue, with the industry struggling to recruit and retain drivers in sufficient numbers. Additionally, rising fuel costs, infrastructure limitations, and stricter environmental regulations will demand innovative solutions to keep the industry moving forward.

The report also emphasizes the importance of technology and sustainability. Investments in electric trucks, autonomous vehicles, and other technological advancements are expected to transform the way goods are transported, making operations more efficient while reducing the industry’s environmental footprint.

Looking Ahead

As trucking continues to evolve, its indispensable role in the U.S. economy is clear. Growth in freight tonnage, coupled with advancements in technology and a focus on sustainability, will ensure the industry remains resilient in the face of challenges. Stakeholders across the supply chain will need to work collaboratively to address barriers and seize the opportunities presented by this growth.

The ATA’s forecast serves as a powerful reminder of the trucking industry’s significance and its potential to thrive in an increasingly interconnected and technology-driven world. By adapting to changing trends and embracing innovation, the industry is well-positioned to deliver on its promise of supporting commerce and economic prosperity for decades to come.