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Home » News » Warehouse News » Manufacturers Are Benefiting from Trucking Industry Growth and Reduced Shipping Costs

Manufacturers Are Benefiting from Trucking Industry Growth and Reduced Shipping Costs

Manufacturers Are Benefiting from Trucking Industry Growth and Reduced Shipping Costs

The trucking industry is on a growth trajectory that is predicted to continue at least through 2022, according to the American Trucking Association (ATA). In addition, reduced fuel prices are leading to more flexible, affordable shipping options. The U.S. Freight Transportation Forecast compiled by the ATA says that, in 2010, the trucking sector accounted for 81% of total revenue and 67% of tonnage for transportation companies. The forecast suggested that overall revenue for the industry will rise nearly 66% and tonnage will increase 24% by 2022, according to Genco.com. The New York Times recently reported growth in trucking as a result of declining fuel costs and greater efficiencies in the industry. These benefits, coupled with an improved economy, increased consumer spending and greater factory output, which are, in turn, increasing demand for truck freight. In the months ahead, the current reduction in fuel prices may lead to more flexible shipping options, such as less than truckload (LTL) vs. full truckload (FTL) shipments, preferred by some manufacturers, but largely unavailable in recent years, as shippers and manufacturers did all they could to keep trucks full and, conversely, keep prices down. Also helping growth is that in June, the Environmental Protection Agency and the Transportation Department jointly announced regulations to increase fuel efficiency and reduce emissions from heavy-duty trucks. “These efficiency standards are good for the environment—and the economy,” said Transportation Secretary Anthony Foxx. “When trucks use less fuel, shipping costs go down.” Not everyone agrees, however. While some truck makers say they can adapt to the new requirements, others claim that the new technologies will be too costly. The Wall Street Journal reports that a new rule requiring truckers to use electronic logging devices (ELDs) on all shipments will likely improve efficiency, but could have a negative impact on smaller […]

Sue Boczenowski

About the Author

Sue Boczenowski is the Marketing Manager for Abel Womack.

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