BOISE, Idaho — Is there optimism in looking at the future of trucking?
One survey gives some cause to be optimistic.
The Bloomberg | Truckstop semi-annual freight broker survey shows brokers are optimistic about this year as demand and spot rates improved significantly in the second half of 2024, according to a recent release.
“Most brokers believe demand, rates and margins are poised to keep getting better,” said Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. “They also anticipate that the new administration could drive load growth, while higher rates and technological advancements may continue to support margin expansion.”
The Bloomberg | Truckstop second half 2024 Broker survey shows:
- Brokerage volume having some relief: Demand appears to have rebounded for freight brokers in the second half of 2024, with 55% of respondents noting that load volume rose year over year, 26 percentage points better than in the first half of 2024. That’s led brokers to be more optimistic about load volume in 2025, with 77% expecting it to be up in the next 3-6 months, 28 percentage points more than in the first half of 2024.
- Spot rates could edge higher this year: Freight brokers are more optimistic about spot rates with 52% of survey respondents expecting them to rise in the next 3-6 months, an 18-percentage point hike from the first half of 2024. Market conditions are still tightening, with Truckstop’s Market Demand Index up 28% on average in 4Q24 from 4Q23.
- Margins may expand: Brokers’ gross margins had a reprieve in the second half of 2024, with around 31% of respondents noting margin expansion – 7 percentage points better than the first half of 2024– which is set to extend in 2025. About 67% expect margins to improve in the next six months, 30 percentage points better than the prior survey.
“Brokers are showing growing optimism for the year ahead, with our latest survey revealing that 52% of brokerages plan to expand their teams and 89% feel better equipped to combat fraud,” said Kendra Tucker, chief executive officer, Truckstop. “Truckstop is committed to delivering solutions that empower brokers to work with speed and confidence, helping them streamline operations, fight fraud and increase profitability.”
The most recent sample size was 159, consisting of freight forwarders, third-party logistics providers and broker agents, as well as asset and non-asset-based brokers. Most respondents (64%) have 1-50 employees. Of those surveyed, non-asset-based brokers made up the biggest group (30%), followed by third-party logistic providers (26%) and broker agents (23%).
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
