Trucking Industry Finds Multiple Growth Opportunities In The Days Ahead
With the US economy giving some positive growth, the trucking companies have had a tough time to keep up with the ever-growing demands of the freights. In spite of having some serious shortage of licensed truck drivers in the entire nation, the corporations have been trying their best to live up to their expectations. There have been several discussions which came to one particular conclusion. Rather than increasing the number of trucks on the road, and hiring more drivers, the industry opts to add more trailers to increase the specific amount of capacity that each driver can haul at one go. Almost 70 percent of the demand has been able to meet by buying the new trailers and increasing the load.
Trucking magnates like Fred Barbara and much more have been carrying out multiple surveys and research work to see how far has this process worked out for them. They have come up with a graph which has been a good enough predictor of their future order since it consists of both the large and small fleets along with both public and private operators under their survey plan. Since July 2013, there has been a new bill passed under the Hours of Service, which has reduced down the number of hours that the driver is ought to run his vehicle, and increased the proximity of taking the breaks. The main motif of doing this was to mitigate the fatigue that the drivers have, and hence the number of accidents that happen on highways and main roads. But, it also meant, that a number of single drivers could haul declined.
There has been a trend that which was always noticed in the trucking industry- the existence of the owner-operators. They basically owned and operated the trucks on the road as an independent business. Some either leased their vehicles to the carriers or operated with them, while the rest of them chose to operate them under their own authority. The concept was so much a hit that there were almost 175,000 owner operators even a decade ago. But with the recession hitting the US economy, the number shrank down to 149,000 by the end of 2010.
As the economy recovers, the businesses have started regenerating their sales process with more products to be shipped. As a result of this, the demand for the truckers has definitely increased, since the freight load has been increasing. Since a major portion of the shipment of goods depends on the trucking service, and the lack of qualified drivers have already been noticed, businesses and companies have started contacting these owner-operators to move their freight. This has actually proved to be very beneficial for the drivers who wanted to work independently, believes the trucking magnate Fred Barbara. Since purchasing their own truck gets a costly job to deal with, they prefer to work with these owner-operators as well where there’s more liberty than the trucking companies for sure.
The trucking industry has already proved to be the backbone of the logistics business. The further the day goes, the better are the opportunities lying ahead.