According to DAT, the shipping will robust in this year. Having said this, here are the important trends to implement in your business plan for 2018.
1. Capacity Crunch
The trucking industry is experiencing a low truck supply but a high demand for freight. One of the main reasons why is this happening is the driver shortage.
Each year, the older drivers are retiring and there are very few younger drivers left to take their place.
This is mostly due to the difficulty of the occupation. In addition to this, there are a lot of factors involved here:
- Hours of Service (HOS)
- Driving OTR – Over the Road
- Balancing Highway and Home
- Average Driver Pay
This shortage of drivers means that there will be few trucks on the road transporting freight. Consequently, this will worsen the economy and other industries.
It is like a fall from a high altitude – the trucking industry is pulling down the rest of the industries together.
The Factors Affecting it
Despite the drivers’ shortage, another factor affecting the industry is increased government regulations. This includes obeying the FMCSA, SAFER, DMV etc.
