Information Source: Georgia Innovation/Logistics
The trends in the trucking industry help us to understand what might happen in the future. Below are some recent trucking industry market updates.
The trucking industry workforce increased by 3,900 employees this past October which is an increase of 2.6% over the previous year. This is great to see because it shows that the trucking industry is growing and there is a demand for truck drivers.
Truck capacity rose 15% over October 2014 and increased 8% year over year.
Class 8 trucks (heavy-duty) have been in demand over the past months. In October 2014, orders were 87% higher than in previous months and 76% higher year over year. Something interesting to note is that Class 8 truck orders have had 22 consecutive months of year over year increases.
October 2014 was the best month in history for U.S. rail intermodal transportation. Intermodal traffic overall was 4.9% higher year over year in October. Something else that is good to see is that intermodal loadings have experienced year over year increases for the past 59 straight months. It is great to see this kind of growth.
Overall, things are trending up in the trucking industry, which is a good sign.