Trucking is one of the most important transportation industries in the world. It’s an essential part of the economy, and it’s estimated that over 70% of all goods in the United States are transported by truck at some point. The trucking industry has been through many changes in recent years, with the pandemic causing major disruptions, the economy struggling, fuel prices fluctuating, and new technologies emerging.
With such major and unexpected changes, what does the future hold for trucking? What trends will we see in 2023? Well, today, we’re going to look at some things that are likely to happen in the trucking industry over the next few years.
Rising Fuel Costs
Unfortunately, one of the trucking industry’s largest expenses is fuel. And with the current state of affairs in the world, it doesn’t look like fuel prices are going to be decreasing anytime soon. In fact, they’re likely to continue rising in the next few years. Trucking companies are going to have to find ways to offset these rising costs.
One way they may do this is by increasing rates or charging surcharges. Another way trucking companies are trying to offset these costs is by becoming more fuel-efficient. This could mean investing in new trucks that get better gas mileage or using alternative fuels such as natural gas or electric.
Influence of E-Commerce
E-commerce has been on the rise for several years now, and it doesn’t seem to be slowing down anytime soon. This increase in online shopping has directly impacted the trucking industry.
More and more Nashville trucking companies are beginning to specialize in delivering e-commerce orders, as this is where the demand is. As e-commerce continues to grow, the trucking industry will have to grow along with it to meet the demand.
Improvement of Technology
The trucking industry has made many advancements in technology over the past few years, and this looks to continue into 2023. Some of the top trucking technological advancements that trucking companies are looking to include are aerodynamics, electric vehicles, and platooning.
Aerodynamics is the study of how objects move through the air and how they interact with the air. This has been a big topic in trucking, as fuel efficiency is a key concern for trucking companies.
Electric vehicles are also becoming more popular in trucking as they are more environmentally friendly than traditional diesel trucks. Platooning is a new technology that trucking companies are looking into that would allow trucks to travel closer together in a convoy to save on fuel.
Growing Freight Volume
Despite the pandemic, freight volume has been on the rise and is expected to continue growing in 2023. The trucking industry transports around 11 billion tons of freight every year, which is a major part of the US economy. With the growth in e-commerce, this number is only going to continue increasing. This is good news for truck drivers as it means that there will be more opportunities for work. It is expected that trucking companies will have to hire more drivers to keep up with the demand.
Increase in Merges
The trucking industry is going to see an increase in mergers in 2023 as companies attempt to pool resources together to weather the storm. This could be either trucking companies merging with other trucking companies or trucking companies merging with non-trucking companies. The main reason behind this move would be for the trucking companies to expand their services and have a better chance of weathering the market conditions.
Join the Team at Drive M&W
The trucking industry is ever-changing, and 2023 is sure to bring even more changes. At Drive M&W, we help our drivers stay in the know and offer flexible schedules to help you select what work you can realistically be involved in. The truck driving industry can offer you the robust, independent, reliable job you’ve been looking for.
Want to join the team? Click here to learn more about our job opportunities.