Trucking Industry Trends in 2023

This past year the trucking industry went through a period of recovery coming out of the pandemic. However, in 2023 we’re going to see significant advancements in tech and ongoing challenges with the economy. With trucks moving more than 70% of freight in the United States, getting ahead of these predictions and trucking industry trends is crucial in preparation for the new year. 

Current Trucking Industry Trends 

Technological Improvements

The growing push for eco-friendly practices has driven the development and implementation of new technology for semi-trucks. Some companies are changing their entire fleet over to biodiesel, a renewable diesel replacement. There’s also been a significant shift towards electric vehicles, including battery-powered and hydrogen-fueled trucks. 

Semi-truck aerodynamics also plays a prominent role in a truck’s fuel efficiency when traveling at high speeds along a highway. Industry reports indicate that using multiple devices to reduce aerodynamic drag can reduce trucking industry fuel consumption by more than 12 percent – or some $10 billion in diesel fuel costs.

Economic Uncertainty 

One thing that hasn’t changed coming out of 2022 is the volatility of the economy. Predictions of market crashes and panic over finances have put the transportation industry in a place of uncertainty. Transportation companies, like any other business, are likely to face continuing operational struggles. 

As this threat of economic change still looms, many trucking companies will see this as a time to merge. By doing so, the final company will have a better chance of making it through any economic downturns.   

Growing Freight Volume vs Truck Shortages

Just as we saw in the previous year, freight is predicted to grow, causing the imbalance in the trucking industry to persist. Between labor shortages and global supply chain congestion, semi-truck manufacturers have been pushed far behind the last few years. These continuous supply issues will reciprocate down to consumers as they see shortages in certain goods. Should the market stabilize this year, we can hope to see this gap start to close.

Find Your Management Team At Bender

Seeing what the new year has to bring can pose many questions and decisions to make. At Bender Transportation, our Management Team is here to advise you on driver hiring, maintenance, marketing, and more. We bring our knowledge and strong track record to help consult your motor carrier.  Reach out to our team today to get your business on track to success in 2023.