When looking at the future of this industry, it is natural to start wondering – what are the trucking industry trends for 2023? Whether you are a veteran of the road or are just starting to consider joining the trucking industry, it is important to stay up-to-date and aware of how trends may change over the upcoming year, for better or for worse.
That is why we are looking at the trucking industry trends for 2023 based on data and ongoing trends from the past several years to determine what the greatest changes (and consistencies) are on the horizon, and how they will affect everyone in this industry.
Understanding Trucking Industry Trends for 2023
When we consider the trucking industry trends for 2023, there are several pieces of data and anecdotal evidence to consider. Some trends are consistent from the past several years – such as the number of jobs available in the industry – while other trends vary more.
More Job Availability
When looking at trucking industry trends for 2023, we have to look backwards and forwards. Over the past several years, more and more jobs have become available to those willing to get out on the road for a living. In fact, between 2020 and 2021, there was a 3.7% increase in employment – totaling 3.49 million new drivers entering the workforce in one year alone!
This growth and job availability do not show signs of slowing down anytime soon. Due to an aging workforce, more retirees, and a constant increase in demand, the American Trucking Association has reported an all-time high of trucker shortages.
After these dramatic shortages, it is expected there will be a slightly lower demand for truckers next year. This is primarily due to the cooling housing market, which means less flatbed transportation of materials. However, the trucking industry trends for 2023 indicate that this is still a great time to become a trucker, primarily due to the continued overall trend toward demand in the market.
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Fuel Costs Will Drop – But Only Slightly
It is no secret that diesel has cost more and more lately. Unfortunately, this seems like a trend that will continue into 2023, though it does seem like there may be some slight relief. According to the EIA, as of December 2022, it is currently expected the cost of diesel will drop slightly from an average of $5.05 per gallon to $4.48 per gallon.
While this is promising, it does seem like the cost of gas will, overall, continue to remain higher in 2023 than they were before the COVID pandemic in 2020 and before. To put it in perspective, in 2012, the yearly high was around $4.12 per gallon. In 2022, the yearly high was $5.67 per gallon, and the low was $4.75 per gallon. This is a 15.29% increase from 2012’s highest diesel cost and 2022’s lowest cost.
Already, many trucking companies use automation to deal with issues that were once fully on drivers. Looking towards the future trucking industry trends for 2023, we expect that there will be even more automation used to do everything from loading the truck to managing optimal routes.
Expect More Sustainable Shipping Measures
Usually, trucking sees low fuel efficiency and maximum emissions. With the new year, there are now more environmental regulations – including new regulations from the Securities and Exchange Commission (SEC) that require all public companies to include climate-related disclosures.
Because of these changes, it seems likely that we will see a shift in the trucking industry towards optimizing for more environmentally friendly practices.
A Change in Production Locations
For several years, the production locations for most well-known trucking companies have remained consistent. However, as the industry continues to grow, many companies are looking at new locations to conduct their business for the foreseeable future. These shifts will likely be done to increase savings and find a larger pool of talent to recruit, which is good news for those interested in staying in the truck driving industry but looking for a more horizontal shift.
The Effect of E-Commerce
In the past few years, e-commerce has grown dramatically in nearly every market. The trucking industry and the e-commerce market have a strong symbiotic relationship, where both help the other continue to exist. Because it is likely the e-commerce industry will continue to grow over the coming year, trucking should see continued growth on that side of the industry.
There is a variety of new technology that is expected when reviewing trucking industry trends for 2023. Due to overall rising fuel costs and the expected sustainable shipping measures, trends indicate that we’ll likely see more energy-efficient vehicles. This will likely include alternate fuel and electric trucks.
The industry can also expect improved technology from the other side of the wheel. Better software programs, more accurate tracking abilities, and the incorporation of smart technology into the vehicle are other trucking industry trends for 2023 that we can expect.
Trucking Industry Trends for 2023 In Review
There are some major changes when looking at the trucking industry trends for 2023. It is an exciting time to be joining the trucking industry. With continued openings and the likelihood for steady growth, it is well known that driving trucks will likely be a stable and dependable job for the long term future.
At TDI, you can join this exciting industry in less than a month and could quickly find yourself earning up to $71,000 upon starting your new work. We help drivers at all stages of their lives and are able to assist those wanting any type of CDL license and provide support in finding jobs after graduation. To learn more about how to witness the truck industry trends of 2023 first-hand, contact us today.
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