Tim Denoyer, ACT Research’s Vice President and Senior Analyst, said, “Supply side constraints will keep the truckload market very tight in the near-term, as freight demand remains exceptionally strong, so the peak in spot markets remains ahead of us.”
Denoyer added, “The semiconductor shortages impacting Class 8 tractor supply don’t have quick fixes, and neither do the structural factors inhibiting driver supply, such as demographics and drug testing.”
He concluded, “This is perhaps the strongest freight market ever for carriers and the most challenging ever for
shippers. But in our view, the industry is no less cyclical, and in our three-year freight volume and rate forecast horizon, we explore the timing and magnitude of eventual rate relief for shippers.”
The monthly 56-page ACT Freight Forecastreport provides three-year forecasts for volumes and contract
rates for the truckload, less-than-truckload and intermodal sectors of the transportation industry. For the truckload spot market, the report forecasts rates for the next 12-15 months. The Freight Forecast provides unmatched detail on the freight rate outlook, helpingcompanies across the supply chain plan with greater visibility and less uncertainty.
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
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