ATA report predicts trucking boom in coming years

ARLINGTON, Va. – Trucking is heading into a period of significant growth, according to the American Trucking Associations’ U.S. Freight Transportation Forecast to 2022.

The report is a collaboration between ATA, IHS Global Insight, and Martin Labbe Associates.

It predicts total freight tonnage will grow by 24% by 2022, and revenue for the freight transportation industry will rise 66% in that same timeframe. Trucking’s share of that market will rise to 70% by 2022, though the industry’s share of freight revenues will only increase to 81.4% from 81.2%.

In other surface modes, rail’s overall share of tonnage will fall to 14.6% in 2022 from 15.3% in the baseline year of 2010. However, intermodal tonnage will rise 6.6% a year between 2011 and 2016, and 5.5% annually through 2022. Revenues for intermodal transportation will jump from $11.1 billion in 2010 to $30.7 billion in 2022.

Domestic waterborne transportation will show very modest growth between now and 2022 – growing 2% a year until 2016, then 0.2% annually through 2022. Revenues for short-sea shippers will grow to $16.2 billion in 2022 from $11.1 billion in 2010.

"The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 67% of tonnage and 81% of revenue in 2010," ATA chief economist Bob Costello wrote in this year’s forecast.