Logistics and Transportation: 21 Reasons for Optimism in 2021 

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Industry leaders are optimistic that 2021 will be a transformational year for the transportation industryExperts predict growth in a variety of areas that include those related to hiring trends, distribution demands, and COVID-19 products. 2021 is anticipated to be a successful year in transportation for 21 reasons. 

  1. The U.S. economy is relying heavily on truckers amidst the COVID-19 pandemic. 
  2. There is a global effort to distribute the vaccine. 
  3. The industry’s trending payincrease surge is projected to continue. 
  4. Analysts are optimistic that truck sales will remain steady as they ended the year on an upward trend. 
  5. Carrier profitability is predicted to lead to record levels 
  6. Full truckload (TL) earnings are expected to peak by roughly 50%. 
  7. High, single-digit percent increases are predicted for less than truckload (LTL) tonnage.  
  8. Earnings per share growth are largely projected 
  9. Reports from retailers suggest that import demand will be elevated for at least the first quarter of 2021.  
  10. Dry van, reefer, and flatbed demand is projected to increase by 6%.  
  11. Truck utilization is forecasted to sit above 96% for the year. 
  12. Total freight volume is expected to match pre-pandemic levels. 
  13. Trucking demands are heightened for companies looking to build inventories and increase sales targets.  
  14. Carriers are revising their strategies to address customer demands.  
  15. Truck driving is one of the most in-demand careers 
  16. Online purchasing habits are likely to affect distribution patterns permanently 
  17. Many companies are pushing to make up for the time that was lost due to pandemic effects. 
  18. 2020 was a defining year for consumers witnessing first-hand the importance of the trucking industry.  
  19. Growth in freight volumes is expected as good production recovers.
  20. Increased reliance on technology will facilitate advancements in the transportation industry. 
  21. Opportunities for distribution will increase as the demand for PPE and COVID-related products continues.  

Industry analysts from FreightWavesTransport Topics, and FleetOwner highlight some of the many reasons that transportation and logistics will be transformed this new year. While 2020 was a defining year filled with extraordinary adversity, the outlook is optimistic that 2021 will be momentous for the industry.  

 

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