How the trucking industry and the U.S. economy go hand-in-hand

Experts predict that both the trucking industry and the U.S. economy will make a strong recovery, though concerns linger about the shortage of drivers and supply chain delays.

The economy and retail sales are growing much faster and steadier than anyone could have expected a year ago. Demand for goods remained high, even when the economy fell significantly due to the COVID-19 pandemic. E-commerce continues to rapidly gain market share, and that changing dynamic will continue to have a huge impact on trucking as more items are shipped directly to homes.

Although demand remains high and the potential for rapid growth and expansion is within reach for many companies involved in the industry, the problem that then ensues is on the capacity side.

Demand for freight transportation is up as well as pricing, however in the truckload industry, many fleets that experts evaluate to measure and indicate the health and well-being of the industry have begun to reduce tractor counts. As stated previously, this is not due to lack of demand. The root of the issue is being unable to find drivers to put in their trucks.

The trucking industry has the potential to seize the opportunities presented with the economic growth and surge in e-commerce. Trucks move roughly 72.5% of the nation’s freight by weight. This combined with the growth of used Class 8 semi numbers available for sale and at auction also rising rapidly means the over-the-road trucking industry has the potential to experience a lengthy period of steady growth.

Taylor & Martin is happy to assist with any and all over-the-road equipment needs to fit any operation. With a wide variety of equipment consigned to various auction locations throughout the United States, Taylor & Martin is sure to have something to fit your specific needs.

For more information on the predictions for the economy and the trucking industry, visit: Transport Topics

For more information on the trucking industry’s involvement on the economy, visit: ATA