United States Freight Rates for Road Transport
| Historical Prices | From 2020 |
| Forecasted Prices | Next 5 years |
| Frequency | Yearly |
| Products | Dry Van Freight Rates, Reefer Freight Rates, Flatbed Freight Rates |
| Regions | United States |
United States Freight Rates For Road Transport Price Trends
Fuel Prices and Operational Costs Impact the Rates
Over the past few years, rising fuel prices have been a critical factor propelling the escalation of freight rates. In the country, diesel prices surged, doubling from 2020 to 2023. To illustrate, diesel prices stood at approximately USD 2.55 per gallon in 2020, skyrocketed to a record peak of USD 4.99 per gallon in 2022, and then moderated slightly to USD 4.21 per gallon in 2023. Another major factor impacting the freight rates in the US in the past few years is the driver shortage. According to industry sources, there were 80,000 fewer drivers than needed in 2021, and if the pace of hiring continued, that number could rise to almost 174,000 by 2026. It was also predicted that around 1,000,000 new truckers would be needed over the next decade to maintain current levels. Moreover, it was observed that trucking jobs have become more high-paid than ever during the pandemic.
Increasing Investments in Infrastructure to Boost Road Freight Volumes in the United States
In December 2023, the U.S. witnessed a historic 15.9% surge in the inflation-adjusted value of its petroleum exports, solidifying its status as a leading oil producer. This growth not only propelled the U.S. into a net oil exporter position but also significantly reduced its dependence on foreign oil, thereby aiding in shrinking the nation's current account deficit. The surge in exports is directly attributed to the enactment of the Bipartisan Infrastructure Law (BIL), also known as the Infrastructure Investment and Jobs Act. This legislation, a linchpin of U.S. infrastructure and competitiveness, addresses the urgent need for infrastructure enhancements. Alarmingly, approximately 20% of the U.S.' highways and major roads, along with 45,000 bridges, are in urgent need of repair. The BIL, lauded as the most substantial long-term U.S. investment to date, allocates a hefty USD 550 billion from fiscal years 2022 to 2026. This funding is earmarked for bolstering key sectors, including roads, bridges, mass transit, water infrastructure, resilience measures, and broadband expansion. Improved road infrastructure not only facilitates new trade routes but also enhances existing ones, both domestically and internationally. As trade routes expand, the transportation of goods surges, subsequently increasing the demand for freight services.
Understand The Key Trends Shaping Prices in This Market
United States Freight Rates For Road Transport Market Price Segmentation
Segmentation
The Yearly Road Freight Transport Market Pricing provides historical and forecasted yearly pricing data in USD/ton-km on US Road Freight Transport Market Pricing. The data analysis is available for regions such as the West, Midwest, Northeast, Southeast, and Southwest. By Type, freight rates will be provided for Dry Van, Reefer, and Flatbed Freight Rates. By Truckload, prices will be provided for Full Truck Load (FTL) and less than Truck Load (LTL). The report also covers the major factors impacting road freight prices, trade analysis, and demand-supply dynamics.
Subscription Details
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- Forecast period: Subscribe only to the base report or ask us to customize the number of months you need the price forecasts for
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- Truckload: Subscribe only to specific truckloads, or ask us to add data for other truckloads
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Report Access and Format
Access to this report provides yearly road freight prices since 2020, along with 5-year forecasted road freight prices.
The reports would be delivered in PDF format in your inbox, along with supporting data sheets in MS Excel format.
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United States Freight Rates For Road Transport Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. HISTORICAL AND FORECASTED PRICE TRENDS – 2020 ONWARDS*
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4.1 By Type (in USD/ton-km)
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4.1.1 Dry Van Freight Rates
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4.1.2 Reefer Freight Rates
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4.1.3 Flatbed Freight Rates
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4.2 By Geography (in USD/ton-km)
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4.2.1 West
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4.2.2 Midwest
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4.2.3 Northeast
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4.2.4 Southeast
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4.2.5 Southwest
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4.3 By Truckload (in USD/ton-km)
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4.3.1 Full Truck Load (FTL)
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4.3.2 Less Than Truck Load (LTL)
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5. HISTORICAL AND FUTURE FACTORS IMPACTING THE PRICE TRENDS
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5.1 Macro Factors
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5.1.1 Balance Between the Supply and Demand for Freight Transport Services
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5.1.2 Trade Policies and Tariffs
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5.2 Road Freight Transport - Specific Factors
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5.2.1 Increasing Demand from Various Industries (Majorly Wholesale & Retail, and Automotive)
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6. ANALYST VIEW ON MARKET OPPORTUNITIES AND OUTLOOK
United States Freight Rates For Road Transport Industry Report
Database for the United States Freight Rates For Road Transport prices, historical and forecasted growth and price influencing factors, created by Mordor Intelligence™ Industry Reports. United States Freight Rates For Road Transport price analysis includes a market forecast outlook to next 5 years. Get a sample of this price database as a free report excel download.
