U.S. freight economy will grow significantly, American Trucking Associations says

The U.S. freight economy is on track to “grow significantly” during the next decade, led by acceleration in the trucking industry, according to a forecast by American Trucking Associations.

The trade association’s U.S. Freight Transportation Forecast to 2022 predicts that freight tonnage will grow 24 percent by 2022, with revenue ticking up even more — 66 percent.

“The trucking industry continues to dominate the freight transportation industry in terms of both tonnage and revenue, comprising 67 percent of tonnage and 81 percent of revenue in 2010,” ATA Chief Economist Bob Costello wrote in the forecast.

By 2022, trucking will have a 70 percent share of freight and an 81.4 percent share of revenue, up slightly from the current 81.2 percent.

Trucking companies such as Overland Park-based YRC Worldwide Inc. have seen improvement in the freight market. YRC reported steady gains in first-quarter shipping volume despite harsh winter weather, though the company — which is in the midst of a financial restructuring — posted a $101.8 million loss. Full Story....