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Economy Repeats as ATRI’s Top Industry Issue for 2024

Rebecca Brewster, CEO of ATRI, discusses the institute’s list of the top industry concerns Oct. 12 at MCE 2024 in Nashville, Tenn. (John Sommers II for Transport Topics)

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NASHVILLE, Tenn. — For the second year in a row, the state of the nation’s economy was the top-ranked industry issue that led the American Transportation Research Institute 2024 list of Top Industry Concerns.

The cause for concern: the combined impacts of rising operational costs with the lingering freight recession and declining freight rates, according to the report. ATRI’s annual Opera­tional Costs of Trucking research also documented industry cost increases of more than 22% over the past two years — marking the highest recorded costs in the research’s 16-year history.

The annual survey report was released Oct. 12 during ATRI’s “Big Reveal” session at American Trucking Associations’ Management Conference & Exhibition. The ATRI survey remains one of the most popular sessions at MCE.

Gregg Troian of PGT Trucking discusses ATRI’s list of top industry concerns as ATRI CEO Rebecca Brewster listens Oct. 12 at MCE 2024 in Nashville, Tenn. (John Sommers II for Transport Topics) 

“Without question, this has been another tough year for the trucking industry,” said panelist Gregg Troian, president of PGT Trucking and a member of ATRI’s Research Advisory Committee. “Our costs continued to climb while freight demand struggled. But each year we can count on ATRI’s analysis to not only quantify the issues, but more importantly, what we can collectively do as an industry to address each.”

This year saw the lack of available truck parking retain the No. 2 ranking, and the proliferation of nuclear verdicts rise to No. 3. The largest climb in rankings this year was insurance cost and availability, which gained eight spots to No. 4. Driver compensation rounded out the top five.

The continued focus on transitioning the nation’s truck fleet to battery-electric — and the aggressive timelines and significant cost for doing so — drove battery-­electric vehicles into the No. 6 spot, up four from last year’s survey.

ATRI Top Industry Issues 2024

Nos. 7 -10 included the Federal Motor Carrier Safety Administration’s Compliance Safety Accountability safety measurement program, detention/delay at customer facilities, the driver shortage and driver distraction.

“CSA is in the top ten again this year,” ATRI President and CEO Rebecca Brewste  said. “It’s been in the industry now for 14 years. And despite numerous tweaks and adjustments on the part of FMCSA, this one still generates concern by carriers.”

“I have so many explanations for how it works,” Troian said. “One month we’re great and all of a sudden we lost a point, and there’s no explanation.”

Driver distraction, although No. 10 on the list, seemed to be one of the most troubling concerns at the panel presentation.

“We all know this is a national epidemic,” Brewster said. “When you look at data that comes from the National Highway Traffic Safety Administration, 3,300 people killed in crashes that were caused by distraction. Of those, 368 crashes in which at least one individual was using a cell phone at the time of the crash.”

Brewster said the No. 1 strategy is harsher penalties for those who are driving distracted and tougher enforcement.

#1: The Economy

Rising operational costs and a stagnant freight economy continue to weigh on the industry. #ATAmce24 pic.twitter.com/zWghpV8SSc

— American Trucking (@TRUCKINGdotORG) October 12, 2024

“If you miss your exit ramp or a turn, don’t try to cut to the right,” said Walmart driver Antoine Sadler. “Drive past it, to the next road or exit. Because 10 extra minutes can save a life.” 

“It’s tough one to overcome,” said panelist Adam Kahn, chief strategy officer for Netradyne. “When you’re on a monotonous highway or stuck in traffic then there’s a tendency to do something to occupy your time.”

As part of its analysis, ATRI tracked the emerging topics that generate significant industry interest but fall just outside of the Top 10.

Netradyne Chief Strategy Officer Adam Kahn. (John Sommers II for Transport Topics) 

The analysis can provide insight on issues that may emerge in the future as a top industry issue, as well as document issues whose criticality has decreased. Fuel prices, driver retention and transportation infrastructure/­congestion/­funding dropped out of the Top 10 this year.

More than 3,700 trucking industry stakeholders participated in the survey, including motor carriers, truck drivers, industry suppliers, driver trainers and law enforcement.

More than 45% of survey respondents were motor carrier executives and personnel, while truck drivers represented 31%.

Among truck driver respondents, truck parking, driver compensation and the econ­omy were the top three concerns, while motor carriers ranked the economy, lawsuit abuse reform and the driver shortage as the top three concerns.

.@ATRIPREZ kicks off the Big Reveal at #ATAmce24, counting down the Top 10 issues facing the trucking industry based on @Truck_Research survey data. pic.twitter.com/gYfPe9bZvY

— American Trucking (@TRUCKINGdotORG) October 12, 2024

Company drivers identified driver compensation as their top concern, while owner-­operators/­independent operators said the economy was their No. 1 issue. Driver distraction was the top concern of motor carrier enforcement personnel.

In other observations, ATRI’s report said 2024 has been a year of many new developments. The collapse of Baltimore’s Francis Scott Key Bridge after it was struck by a containership in March served as a reminder for the need for resilient infrastructure. Truck parking received substantial investment via the 2021 Infrastructure Investment and Jobs Act. 

Issues such as cargo theft and predatory towing received increased attention at the federal level. As some industry groups ended their appeal of California’s law enforcing narrower independent contractor classifications, others redoubled opposition to finalized rulemakings on battery-­electric truck sales that are set to take effect for model-year 2027.

At the same time, new technologies such as artificial intelligence were introduced with the potential to change business and operations.

ATRI is the nonprofit research arm of ATA.

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