Despite ongoing volatility in the trucking industry, the U.S. continues to rely heavily on trucking to transport the vast majority of its freight. Trucking will represent 73 percent of total freight tonnage and 79 percent of the revenue of the entire U.S. freight market by 2034, according to a new study, “Vertical Market Outlook Series: Trucking,” released by the Equipment Leasing & Finance Foundation (Foundation).
The study provides an outlook on the U.S. trucking industry, including key trends and developments impacting this sector over the next one to two years. It is the 10th release of the Foundation’s forward-looking Vertical Market Outlook Series designed to help readers recognize and understand opportunities and challenges that may affect their businesses.
The report was commissioned by the Foundation and prepared by global advertising, technology, and data company Big Village, which also produced the previous studies in the Vertical Market Outlook Series. The new study presents data and research from a variety of sources, and examines a range of issues, including:
- On-the-road transport vertical landscape: definition and composition.
- Macroeconomic environment: federal regulations, supply chain, operational cost trends, freight volume trends, decarbonization impact, transport rate trends, and sustainability.
- Market dynamics and trends: bankruptcy, M&As, financing, the role of technology, and changing industry structure.
“This report provides an overview of the U.S. long-haul trucking market, addressing macroeconomic factors, technological innovations, and challenges that will impact the sector going forward,” said Valerie Gerard, Foundation Research Committee Chair and Co-CEO of The Alta Group. “It is an indispensable resource for equipment finance professionals to use in their strategic planning, and as a guide to the trends and shifts to monitor in order to support their clients and prospects as the industry moves forward.”
Download the full report at https://www.leasefoundation.org/industry-resources/vertical-outlook/.
All Foundation studies are available for free download from the Foundation’s online library at http://store.leasefoundation.org/.