US Revenues for Freight Transport Services to Grow 3.3% Yearly in Nominal Terms to 2022
CLEVELAND, Feb. 8, 2019 /PRNewswire/ — Revenues for freight transport services in the US are forecast to see 3.3% annual growth in nominal terms through 2022, according to Freight Services: United States, a report recently released by Freedonia Focus Reports. Providers of freight services will benefit from ongoing, wide-ranging economic growth. As rising consumer incomes spur retail sales, manufacturers and importers will require freight services to move raw materials, intermediate goods, and finished products.
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Notably, significant total import volume increases occurred in late 2017 and 2018 as importers rushed to secure goods ahead of new tariffs taking effect. This impact is unlikely to carry forward through 2022, as tariffs will likely either be removed by then or become part of the status quo.
These and other key insights are featured in Freight Services: United States. This report forecasts to 2022 US freight service industry revenues in nominal US dollars. Total revenues are segmented by mode in terms of:
To illustrate historical trends, total revenues, the various segments, the value of the US goods trade, and the value of the US goods trade with North American countries by freight mode are provided in annual series from 2007 to 2017.
Captive freight services, such as retail stores that maintain their own truck fleets, are excluded from the scope of this report. Also excluded are courier and express delivery services (e.g., parcel delivery).
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Services & Industries reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
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SOURCE The Freedonia Group