ATA Releases Overview of Key Industry Benchmarks in the “2024 U.S. Trucking Trends Report”
Author: Jeff Berman
Publication Date: September 13, 2024
Words like “disheartening” or “challenging” often describe the state of the trucking market. However, a better example can be found in this year’s annual “2024 U.S. Trucking Trends Report,” released by the American Trucking Associations (ATA) this week.
This “Trends” report is essentially ATA’s annual compilation of data on the trucking industry. ATA officials believe that this publication serves as an indispensable reference for freight companies, industry suppliers, logistics service providers, analysts, and policymakers.
The current version delves into the performance of the industry in 2023, with Bob Costello, ATA’s chief economist, noting that “challenging” was a key word for 2023.
“This year’s report shows that 2023 was an extremely challenging year, but the industry stood firm and transported over 1.1 billion tons of freight throughout the year,” he said.
The report indicates that based on preliminary data, trucks hauled 1.18 billion tons in 2023, slightly below the 1.146 billion tons moved in 2022 but still surpassing it. In terms of revenue, ATA reported that the industry’s income reached $987 billion in 2023, up from $940.8 billion in 2022.
In terms of workforce, there were a total of 8.5 million people employed in the trucking industry in 2023, including 3.55 million drivers. Additionally, 95.5% of operators owned ten or fewer trucks, and 96.6% had less than 100 power units.
In cross-border trade, the report notes that trucks transported 66.5% of U.S.-Canada land trade goods in 2023, as well as 84.5% of freight crossing the Mexican border.
As always, ATA’s annual “U.S. Trucking Trends” publication excels in providing deep insights into key industry aspects. The data mentioned here is just a part of what the complete publication offers for further exploration.
For more information on the “2024 U.S. Trucking Trends Report,” please visit ATA’s official website.
About the Author
Jeff Berman
Jeff Berman is the Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review, and a contributor to Robotics 24/7. Jeff works and resides in Cape Elizabeth, Maine, covering all aspects of supply chain management, logistics, freight transportation, and material handling daily.
Source Website: Logistics Management
