Top Hurdles Trucking Industry Must Overcome in 2014- Part One
The Trucking Industry Has Some Tough Hurdles to Face
Last year was a growth year for the commercial trucking industry, but it was just the beginning of a major growth spurt that is expected to fuel the trucking industry for the next decade. The U.S. Freight Transportation Forecast is predicting a significant 66% increase in overall commercial trucking revenue and a 24% tonnage increase by 2022. With rail transportation declining and intermodal transportation experiencing only slight single-digit increases, trucking is going to be King of the Road for the foreseeable future.
To turn predicted growth into reality, the commercial trucking industry must overcome four major hurdles. Jeff Crissey, editor of Commercial Carrier Journal, recently explored the four key issues most likely to challenge the trucking industry's growth in the coming year -- and beyond. We've summarized CCJ's key points below, but Crissey's full article is worth reading (click the CCJ link above).
1. Driver availability According to a MarketPulse survey, about two-thirds of commercial trucking carriers say they plan to hire more drivers or independent contractors this year; but a lack of trained drivers could put a crimp in those plans. ATA chairman Phil Byrd has said that the industry will need to add 100,000 drivers a year over the next 10 years to meet growing industry demand. However, if recruiting efforts continue to be as lackluster as they were last year, a projected driver shortage of 239,000 by 2022 could cripple the industry.
To be continued
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