Trucking Really Ramps Up for Business
Ready for More Business?
Truckers do more than move merchandise. They also move the economy. And with economic forecasts looking solid, truckers can expect a steadily growing demand for freight services. That means more jobs and more miles. Are you and your truck ready?
After the Recession: Increasing Gains in Freight Levels
The Great Recession hurt the trucking industry in two specific ways: low inventories of consumer goods and housing market problems that resulted in fewer loads and fewer miles.
Well, there's good news. Freight levels are finally back to where they were in 2006. We've seen excellent numbers from this spring and summer, following the harsh 2013-2014 winter, and the economic forecasts for 2015 appear to be great for trucking.
American Trucking Association experts say 2014 factory output is up 3.5%, with even stronger gains next year. Even in great times of years ago, annual growth rates were often around 2%.
Here's what the improving economy means for truckers:
- About 100,000 drivers need to join up every year (need a new truck, anyone?)
- Manufacturing growing at a 4% annual rate means trucking will represent a larger portion of the freight industry
- New housing should grow 29% in 2015, spurring more construction and appliance shipments
- Large demand for automobiles and electronics products will spur even more shipments
More Miles, More Drivers, or Both?
While business is great for truckers right now, many drivers are logging fewer miles than in previous years. Truckers want to spend more time at home, and fleet managers are routing shorter hauls.
With business booming and drivers logging fewer miles, the trucking industry needs even more drivers to cover the miles. The current trucker shortage may be as high as 35,000 drivers.
Thinking about the trends, is it time for you to buy your own truck? Or sell your truck and find a different one? Truckers are ready for the challenges ahead, and truckertotrucker.com has the resources to get you on the road.