Will Trucking Get Better in 2024?

by The Crazy Trucker
(Lexington Ky)

This is a question I get often. So I'll give my opinion about if trucking will get better in 2024 here was well.

I've provided a more detail answer from ChatGPt after my personal opinion.

Because I see interest rates continue to go down and especially oil, yet companies and the economy continues to tick along without excessive pain (yet) I can't help but anticipate 2024 being a much better year. Meaning more profitable.

I don't see how freight rates can get any lower nor any reason they should unless something significant happens in 2024. Like covid comes back causing shut down or World War III

Or something of that scale. So as an Owner Operator, I look forward to 2024 trucking.

Less trucks are on the road cause many went out of business. At the same time, there should be more manufacturing and demand.
That's my 2 cents!

The trucking industry is expected to face both challenges and opportunities in 2024. According to a recent report from transportation analyst firm FTR, trucking companies may expect challenging market conditions in 2024, as indicated by a drop in FTR’s Trucking Conditions Index (TCI) ¹.

The drop resulted from costly financing and a negative rate environment due to lower spot rates, partly offset by lower fuel costs and slightly improved utilization rates ¹.

However, the sector associated with freight is projected to remain feeble for the remainder of 2023, but a resurgence in growth is anticipated in 2024, as per the recent findings of the Transportation Intermediaries Association’s 3PL Market Report for the first quarter of 2023 ¹.

Despite these challenges, the trucking industry is expected to continue growing in the coming years. By embracing new technologies, complying with regulations, and addressing the driver shortage, trucking companies can position themselves for success in 2024 and beyond.


Source: Conversation with Bing, 12/12/2023

(1) Is Now a Good Time for Trucking Businesses? A 2024 Forecast for .... https://roadsync.com/blog/is-now-a-good-time-for-trucking-businesses-a-2024-forecast-for-trucking/.
(2) A freight market turnaround in 2024? - FreightWaves. https://www.freightwaves.com/news/a-freight-market-turnaround-in-2024.
(3) Trucking Industry Forecast for 2023 | ACT Research. https://www.actresearch.net/resources/blog/trucking-industry-forecast-2023.
(4) 2024 Trucking Industry Outlook | What to Keep an Eye On - Bestpass. https://bestpass.com/resources/blog/trucking-industry-outlook.