What experts say is ahead for the trucking industry

2018 has been one of the strongest years in recent memory for the trucking industry as a whole. From rig shortages due to large order sizes to possible age requirement changes for drivers, the industry is going through a growing period unlike any seen in the last decade. Thanks in part to companies like Amazon and Walmart, the trucking industry has not only seen massive amounts of growth but also shifts in expectations for the future.

At a recent NationaLease meeting, experts from within the industry met to discuss what they expect to be the long-term outlook for the industry after this record year. Steve Tam, vice president of ACT Research, while optimistic about 2018 on the whole, expects that in 2019 the conditions that have pushed trucking into its record year will lessen slightly. This cooling off from 2018 is to be expected however with some of the current emergency markets (for-hire trucking) disappearing almost entirely. However, the medium-duty side of trucking is expected to reach stable levels, which is its expected plateau.

While Tam focused on 2019, Noel Perry, founder of Transport Futures, spoke more about the possible outlook moving into 2020 and beyond. Perry says “good times now do not mean good times beyond a year from now.” This prediction, however, does allow for the industry to begin to prepare for the possible downturn or plateau that may be coming. While not a certainty, being cognizant of the current industry numbers against what they may become is essential for an industry that relies so heavily on other industries being strong.

RigPark is committed to helping strengthen the industry through the introduction of safe, predictable parking that aims not only to save truckers time but also money.

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