The Future of Freight

The American Trucking Associations (ATA) has released its much-anticipated Freight Transportation Forecast 2024 to 2035, offering a detailed look at the future of the freight industry. After two challenging years marked by declines, truck volumes are set to rebound, with a projected growth of 1.6% in 2025. By 2035, the industry is expected to haul nearly 14 billion tons of freight, reaffirming trucking’s critical role in the supply chain.

Trucking: The Backbone of Freight Transportation

The report, a collaboration between ATA and S&P Global Market Intelligence, highlights the trucking industry’s dominance in the freight sector. ATA Chief Economist Bob Costello emphasized trucking’s critical role, stating,

“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. 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.”

The forecast underscores trucking’s importance in meeting the nation’s freight demands, predicting that by 2035:

• Total truck tonnage will climb from 11.27 billion tons in 2024 to 13.99 billion tons.
• Trucking industry revenues will increase from $906 billion in 2024 to an impressive $1.46 trillion, maintaining 76.8% of the freight market share.

Other Modes of Transportation: Mixed Projections

While trucking continues to expand, the forecast also sheds light on other freight transportation modes:

• Railroads: Freight tonnage share is expected to decline from 10.6% in 2024 to 9.9% by 2035, largely due to reduced coal volumes.
• Intermodal Rail: Tonnage will see steady growth of 2.9% through 2030, slowing slightly to 2.8% between 2031 and 2035.
• Air Cargo, Domestic Waterborne Transport, and Pipelines: Each is anticipated to experience tonnage increases during the forecast period.

A Strategic Tool for Industry Leaders

ATA President and CEO Chris Spear highlighted the importance of the report, saying,

“Knowledge is power, and the information in Freight Forecast is an enabler for the leaders who shape our industry. Understanding the trends in our supply chain should be key for policymakers in Washington, in statehouses around the country and wherever decisions are being made that affect trucking and our economy.”

For policymakers, industry stakeholders, and trucking companies, these insights offer a valuable tool for strategic planning and investment in the years ahead.

Why This Matters for the Trucking Industry

As the freight landscape evolves, the trucking industry’s continued dominance reflects its adaptability and resilience. With nearly three-quarters of the nation’s freight tonnage and revenue relying on trucks, the industry remains the backbone of the U.S. economy. For truckers, fleet operators, and logistics companies, this growth signals new opportunities and challenges. Staying informed and prepared will be essential to navigating this dynamic environment.

Final Thoughts

At Bloom Services, we’re committed to supporting the trucking community as it powers the economy forward. Whether you’re an owner-operator or a fleet manager, understanding the trends shaping our industry can help you seize new opportunities. 
 
Here at Bloom Services, we are 100% OTR trucking. While you won’t find us on a virtual billboard in a simulator, we do offer newer trucks, and cover trailer and cargo liability. We do not pay based on mileage, rather we pay 80% gross load. This is beneficial for strong drivers with a decent work ethic, you will earn based on the actual load rather than mere miles. Our drivers average $3,000 plus a week take home pay after all expenses, like fuel, truck rent, etc. If you have Grit, and the endurance to consistently deliver loads and run for at least three weeks at a time, you can take home $150K a year. If you are interested, apply now.

As the ATA forecast shows, the road ahead is paved with potential for those ready to embrace the future of freight.