US Trucking Industry Market Outlook with Covid-19 Impact

American Trucking Association has released its latest US Freight Transportation Forecast, which predicts freight volume growth including the pandemic recession

ATA predicts fall in total truck freight volume by 10.6% in 2020. However, it is expected to recover by 4.9% in 2021 with annual growth rate of 3.2% until 2026. Even with the impact of the pandemic, total freight tonnage is projected to grow 21.7% over the forecast period, while total freight transportation revenue is forecasted to surge 45.7% by 2031.

Key takeaways from the report show recovery from the second half of 2020, but there are risks and uncertainties, including the potential for a second wave of COVID-19 infections until a vaccine is widely available, new setbacks with tariffs or additional international territorial disputes, major national disasters, or other shocks. Read here