On the platform, sourcing for truck and trailer leasing services is up 94% year over year and 80% over last quarter averages.Īnd while demand is growing for trucks and trailers, there’s another critical element required for a smooth logistical operation: drivers.īack in 2019, the American Trucking Association was already reporting that the trucking industry was short staffed by about 60,000 drivers. Other logistics business leaders are looking to short- and long-term leases to secure the trucks they need to make key deliveries. This is leading to a string of mergers and acquisitions in the logistics sector, with many major freight brokers, private equity firms, and VC groups taking big swings to acquire existing businesses or heavily invest in digitally-focused trucking startups in a bet on the future sector growth and continued tech advancement. Data from the Bureau of Transportation Statistics indicates that trucks carry more freight across the United States than every other mode of transportation combined, based on shipment weight and value. Welcome to the Thomas Index Report for the week of September 20th.Īs shipping demand continues to surge at record high levels, it’s putting an incredible strain on American trucking companies.

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