A research report from Skyquest, a global market intelligence, innovation management, and commercialization organization, expects the U.S. cold storage market to grow from $43.2 billion in 2023 to $118.8 billion by 2031. According to the report summary, the compound annual growth rate during the forecast period is 13.5%. The U.S. Cold Storage Market is witnessing several vital trends driving its growth, including the increasing adoption of automation and technology and the growing popularity of e-commerce, resulting in demand for faster delivery times.  Get the clearest, most accurate vie ..read more

Lower than-forecast diesel prices by The Energy Information Administration (EIA) provide truckload carriers with breathing room as we head into the summer. As spot rates continue to bounce along what appears to be the bottom of the current freight cycle, now over 24 months, lower fuel costs are most welcome. Even though dry van spot rates hover at $0.05/mile above 2019, a notoriously poor year for truckers, operating costs are around $0.16/mile or 10% higher in 2024. The margin squeeze is felt by owner-operators and small fleets, resulting in many either parking up on the sidelines until the m ..read more

Like the proponents of autonomous trucks, who have struggled to demonstrate a viable economic model in the truckload sector, early adopters of electric vehicles are in the same boat. According to Ryder System, which manages 25,000 trucks and vans for thousands of retailers and manufacturers, as trucks get heavier, the difference in operating costs between battery-electric vehicles and diesel trucks grows more pronounced.  In an excellent article by Paul Berger at the Wall Street Journal, Robert Sanchez, the chief executive of Ryder, said, “The economics just don’t work for most companies ..read more

According to Professor Jason Miller, a supply chain expert at Michigan State University, trucking companies need more good news as demand remains weak. The latest release of the for-hire trucking ton-mile and revenue indexes (TTMI), based on output across 41 freight-generating industries, showed March’s seasonally adjusted ton-mile reading decreased 0.5% from February but remains down just over 1% year-over-year (y/y).  Get the clearest, most accurate view of the truckload marketplace with data from DAT iQ. Tune into DAT iQ Live, live on YouTube or LinkedIn, 10am ET every Tuesday. Miller ..read more

Despite the current economic climate, consumers strongly feel an affinity for restaurants. A staggering 64% expressed their desire to dine at or order from restaurants daily if circumstances allowed. However, the ongoing battle with inflation has reduced their spending and staff gratuities. On average, consumers now allocate 30% of their individual or family food budgets to restaurants each month, a decrease from the 40% reported in May 2022. Interestingly, nearly 2 in 5 (38%) claim to be spending the same or more on restaurant meals than last year but are tipping less. These findings are base ..read more

In April, residential housing construction for single-family homes was mostly flat sequentially but still 22% higher than last year. For flatbed carriers looking for demand signals of an improving truckload market, the April result shows the market is in a holding pattern now the Federal Reserve has indicated rate cuts may not occur this year as expected. According to the U.S. Census Bureau, starts were at an annual rate of 1.36 million, 5.7% higher than the downwardly revised March number of 1.29 million. Get the clearest, most accurate view of the truckload marketplace with data from DAT iQ ..read more

Truck driving is not only a mentally and physically demanding job; it’s one of the most deadly.  Transportation accidents and falls caused more than half of the on-the-job deaths reported in the United States in 2022, the most recent year for which data is available. Those hazards are more common in the most dangerous occupations.  According to the U.S. Bureau of Labor Statistics, 5,486 fatal work injuries were recorded in the United States in 2022, a 5.7% increase from 5,190 in 2021. The fatal work injury rate was 3.7 fatalities per 100,000 full-time equivalent (FTE) workers, up fro ..read more

DAT’s broker newsletter collects our top content of the month and delivers it right to your inbox. You’ll find guides, tips, and advice regarding DAT products, growing your brokerage, and current market conditions. We’re here to provide you with the information and insights to give your business an edge. From the desk of Mike Weaver, VP of Sales and Partnerships The measure of a good business partner, product or tool is in how much it helps the user.  For my money, the best way to help the user is to listen to what they need. That’s where you come in.  You’ve got the opportunity to h ..read more

Understanding the demand for produce is critical to understanding supply and demand, and a great place to start is your local festival. Get the clearest, most accurate view of the truckload marketplace with data from DAT iQ. Tune into DAT iQ Live, live on YouTube or LinkedIn, 10am ET every Tuesday. Most produce-growing regions love to celebrate their annual harvest and typically hold a significant festival each year around the peak harvest time. Here are some key dates to watch: SXSW – Avocados from Mexico and other Produce Industries – March 7-5 Austin, TX Florida Strawberry Festival – Febr ..read more

Controlling operating costs will be the key to surviving this tough freight market for brokers and carriers alike, but for carriers, slowing down may be the fastest way to better margins.  Embracing the ‘Plus one, minus ten’ strategy, as suggested by Todd Amen at ATBS, truckers can significantly boost their bottom line in this challenging market. By adding just one more monthly load and reducing their speed by ten miles per hour, carriers could substantially increase their annual profits by nearly $20,000. Get the clearest, most accurate view of the truckload marketplace with data from DA ..read more