The Top 5 Trends in Trucking

Despite the predicted slowdown of the U.S. economic growth in the first half of 2019, over half (52%) of transportation businesses report they are growing and 1 in 3 expect to continue growing their revenue by 11-25% in the next two years.

The following trends were presented during the Mid-America Trucking Show by Mary Ann Hudson of Bibby Transportation. The data was from a survey of 250 trucking businesses with between 1 and 100 trucks.

The five trends are:

  • Optimistic about growth, with 38% expecting to continue growing at +11-25%.
  • The driver shortage, with 64% of carriers preoccupied with finding good drivers, and many are increasing pay and benefits.
  • Intensifying competition driving low prices, with 66% reporting they’ve lost a contract in the past year to a competitor offering prices so low that they are unprofitable.
  • Take it or leave it, with 37% reporting they feel they must accept contracts “as is” or lose business.
  • Cutting cost with technology, with 1 in 3 businesses planning to invest in predictive maintenance over the next 12-24 months to cut costs.

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