If you’ve been in the transportation and logistics industry as long as I have, you know there are always ebbs and flows to supply and demand. Right now, analysts* forecast truckload volume to increase 8% to 12% in 2021. The supply growth of Class-8 tractors is expected to expand only ~1% in the first half of 2021 and ~5% in the second half, for a net increase of ~3.4%.
It’s clear that demand is outstripping supply—and has been since early 2020. There’s also no question that tight markets like this mean added challenges for shippers moving goods. The good news is there are strategies you can implement to succeed, no matter what condition the market is in.
In the video below, I offer up five steps you can take right now to secure more truckload capacity options—even when the market is tight.
When faced with a market like today’s, I recommend you consider one or more of the tactical ideas from the video above or our white paper to help meet your shipping needs during difficult market conditions.
Be sure to visit our North American Freight Market Insights often for in-depth information and analysis about current market conditions—and ways you can prepare for what the market has in store.
*ACT Research Freight Forecast March report and FTR March Trucking report