Top U.S. trucking executives and analysts say that the $332 billon full-truckload (TL)\u00a0market is showing signs of returning to normal levels of \u201cseasonality\u201d after three years of being whipsawed by COVID-affected demand levels.<\/p>\n
\u201cThe truckload market is easing back to normal levels of growth,\u201d says Avery Vise, vice president of trucking for Indianapolis-based research firm\u00a0FTR. \u201cWe\u2019re not seeing a glut of capacity. We\u2019re heading back to stability, but stability at a level where shippers are happy about it.\u201d<\/p>\n
Vise predicts that truckload rates in 2023 will be \u201csticky\u201d because of limitations on truck-building capacity. \u201cWe\u2019re not producing as many trucks as we need. But that\u2019s slowly getting better.\u201d<\/p>\n
Top carrier executives agreed with Vise\u2019s assessment. However, they warn shippers to prepare for mid- to single-digit contractual rate increases in 2023 due to inflation\u2019s relentless push on virtually every aspect of a truckload carrier\u2019s operation.<\/p>\n