The trucking industry is very lucrative because everyone needs some sort of transportation. Trucking transport is used to shift mail from one location to another, and commercial trucking is a must for anyone who is running a business. For example, when we look at companies like Walmart, we wonder how many trucks are in North America transporting their items, etc. I believe this industry continues to grow, and if you do a quick search in Google Trends, you’ll notice how this keyword “trucking” has been increasing each month/year. Let’s take a quick look at the example below, where you’ll see trending searches for this keyword.
You’ll notice how trucking is getting a steady flow of searches which show us that it’s an industry which is popular and growing. If you are planning on getting into the trucking industry, it’s important you know about the changes taking place. I like to call them the trends within the industry which will help you make the right industry choices. For example, passing your CDL is one thing, however you want to make sure you get the right endorsements afterwards. I’ll start by explaining the necessary endorsements, then go over some of the major trends I see taking place. Let’s jump right in, and your feedback will be appreciated within the comments box. Let’s get started –
Sharing of Information
One way the industry is changing is in the way that truckers and companies share information. Because, of the expansion of the internet employee’s and employers can communicate about important information. This means that shipments arrive more quickly. In the end, the fact that shipments and information can be shared so quickly, you now have more jobs because people are turning to trucking to transport more.
Now-days, if you do a quick search within Google, you’ll find so many devices which allow you to keep track of logistics better. This is something which continues to change as technology keeps getting better over time.
Price Concerns
With the increasing costs of fuel, the industry is becoming more expensive overtime, and this has been a growing concern for many. However, this has also caused a price war over the years so trucking companies are offering their services cheaper to gain business. Even though the price concerns have slowed down business, it continues to grow because it’s simply the price of doing business. Instead of NOT doing business, companies you require shipping companies are just charging their companies a premium price on goods.
In terms of trends, truckers are finding ways to cut costs so that they continue to win business over their competition.
Flexibility
Many trucking companies focus on a specific niche or industry, and this can be a problem once you run into a recession. However, if you have flexibility and the finances to expand, then anything is possible. A trend I’ve seen in recent years is the expansion of trucking fleet. For example, whenever an industry slows down, major companies will invest in slow expansion so they can enter another market to compete. They will start a campaign to attract customers within another market so it doesn’t affect their bottom-line (profit).
To stay competitor, trucking companies must find ways to be flexible, and make sure they have the financial backing to expand when they have too.
Understanding Requirements
One trend developing is established around CDL requirements, and how the regulations are changing over the years. There have been incidences where people have been hurt because the regulations were very light, and don’t require too much from the driver. We continually hear how medical concerns are at the top of the list when it comes to safety. The government is beginning to crack down, and the penalties are harsher than ever before. But, with a few adjustments to your training you can improve the success rate, and safety of the delivery.
Make sure you pay close attention to how the industry is changing, and what you can do to ensure that your company is ahead of the changing regulations.
Partnership
In closing, I will like to mention another huge trend I see taking place which is larger partnerships with increased costs, many companies are looking to join companies because this not only increases the fleet, but the money available to them to expand. If you study the industry news, then you’ll notice many smaller companies are getting bought out by the larger ones, and again this is a trend we see happening all over North America.
The industry is lucrative so to get started, visit careercrawlers.com to find free practice tests.
