The “U.S. Freight Transportation Forecast to 2026” says that annual freight volumes will increase by 28.6% over the next ten years. The report put out by The American Trucking Associations (ATA) with IHS Global Insight. From the report as well as other trends we see the following reasons for the increase:
- Population growth. This is seen as a key factor. In the next ten years population is expected to grow over 7 percent according to Statista.
- Expansion of the energy sector. Although the ATA admits that pipeline and rail will benefit more from this than trucking, trucking will still be the dominant mode of freight transportation.
- Foreign trade. Increasing imports will increase total freight and the need to move it throughout the country.
- Shifting consumer demand. This is obvious in a place like New York City where online shopping from places such as Amazon, Zappos, and Fresh Direct revolutionized how people shop.
- Reinvestment in American manufacturing. In 2014 the US added 60,000 manufacturing jobs. One of the reasons for this is according to Market Watch is to meet consumer demand, companies increasingly want to make products closer to where their customers are and react to trends and ship faster