In 2018, the trucking industry could see increases to the cost of diesel fuel.
The trucking industry is booming and vast, and handles freight for a number of other industries to ensure that companies and customers across the nation get the materials and products they need. For truckers and other people in the industry, it’s important to stay on top of upcoming trends to ensure that they understand all the rules of the road, to be successful in their position. Check out these trends for 2018 and plan accordingly before heading back out on the road.The trucking industry is booming and vast, and handles freight for a number of other industries to ensure that companies and customers across the nation get the materials and
Industry Growth
The American Trucking Association has estimated for the upcoming year that goods transported by truck will grow at a rate of about three percent over the next five years. For freight, trucks will remain the top option for hauling although planes, ships, and trains are continuing to see increases. The industry will continue to grow as the U.S. economy continues to grow.
Fuel Costs
In 2018, the trucking industry could see increases to the cost of diesel fuel. According to the Kiplinger Energy Prices Forecast, the prices have continued to rise, especially due to conflict in Saudi Arabia. The unpredictable nature of political turmoil leads to supply interruptions and therefore, higher prices.
Trucking Rates
The demand for services continues to rise, which ultimately pushes up trucking rates. The overall process of moving freight is expensive and higher rates help offset the costs and other difficulties that people in the industry face. Truck equipment as well as driver salaries require the costs of conducting business to reflect those needs.
Driver Shortages
As of this year, the trucking industry is short about 35,000 qualified drivers and is projected to get worse by 2022. This will ultimately lead to volume issues in the industry, with schedules becoming even more difficult to maintain. The American Trucking Association estimates that industry leaders need to recruit about 100,000 new drivers every year to keep up with the demand of the industry.
Tonnage Forecasts
Tonnage is the weight of cargo in tons. It fluctuates every year and will continue to do that in 2018. As the flow of consumer demand rises and falls, it’s difficult to calculate exact forecasts. However, trucking professionals will see higher levels of tonnage during peak times of the year, which allows them to make more revenue to make up for quieter times of the year.
Baltimore Freightliner-Western Star Has All Your Trucking Needs
Whether you are looking to upgrade your fleet to tow trucks or simply interested in the latest trucking technology, you can rely on Baltimore Freightliner-Western Star. We have provided top-notch service for the trucking industry for 30 years and would love to assist you in buying a new top-of-the-line truck, finding the specialty parts you need, or repairing your truck. Give us a call toll-free at 800-832-7278 or locally at 410-685-4474, or contact us online. To find out more about what we are up to, follow us on Facebook, Twitter, Pinterest, and Google+.