Freight demand has been increasing greatly over the past months which has led to an increase in the need for transport vehicles. Increases in freight demand is, obviously, an asset to the transportation industry. An increase in demand is a great influence on the volume of sales, driver opportunities, and earning potential for all involved. Increases in freight demand are also a nice attractant to encourage more to pursue a career in trucking because of higher wage opportunities.
Even with heavy snow storms on the east coast lately, there’s been no shortage of transportation demands. Some transportation sectors have reported as much as a 12% increase in gross transportation sales. As the “supply” of available truckers catches up to demand there has been speculation that the demand warrants an expected raise in freight rates. This gives the confidence to truckers in expanding, increasing and replacing old fleet vehicles to more cost efficient trucks, etc.
While there is great demand and opportunity, there’s also growing pains. An article as recent as last quarter reports that industry analysts FTR Transportation Intelligence reports a shortage of as much as 200,000 drivers nationwide.
Even with growing pains, the overall trend in the industry is quite positive. As population is ever-increasing and the economy continues to rebound from 2008’s recession, more freight will need to be shipped. The transportation industry will be here to support and profit from the demand.