American Transportation Research Institute's (ATRI) release of the "Top 10 Trucking Industry Concerns for 2024" serves as a crucial tool for industry stakeholders by providing a clear picture of the key issues impacting tanker truck operators and the broader transportation sector. As the industry continues to evolve, ATRI's findings reflect the pressing challenges operators are facing across various sectors, including regulatory compliance, workforce shortages, and the increasing demand for safety advancements, with these top concerns expected to influence strategic planning and policy decisions in the year ahead.
Industry concerns identified within the study are:
Economy - Economic uncertainty and market volatility continue to challenge fleet operators' ability to maintain stable operations and plan for future growth.
Lawsuit Abuse Reform - The rising tide of nuclear verdicts and predatory litigation practices threatens carriers' financial stability and drives up operational costs across the industry.
Driver Shortage - The persistent lack of qualified drivers remains a critical issue, with an estimated shortage of over 80,000 drivers nationwide affecting delivery schedules and capacity.
Driver Retention - Companies struggle to keep experienced drivers, facing high turnover rates that impact operational efficiency and training costs.
CSA - Compliance, Safety, Accountability scores remain a key concern as carriers work to maintain favorable ratings while navigating complex regulatory requirements.
Driver Distraction - The increasing presence of technology and other distractions on roadways poses significant safety risks for tank truck operators and other motorists.
Insurance Cost / Availability - Skyrocketing insurance premiums and limited coverage options create substantial financial pressure on carriers, particularly smaller operations.
Battery Electric Vehicles - The transition to electric vehicles presents both opportunities and challenges, including infrastructure needs and operational adjustments for tank truck fleets.
Diesel Technician Shortage - The growing scarcity of qualified diesel technicians impacts fleet maintenance capabilities and vehicle downtime.
Driver Compensation - Finding the right balance between competitive pay packages and operational costs continues to challenge carriers in attracting and retaining quality drivers.
The full report is available on ATRI’s website by clicking here. |
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For more information about managing your fleet's risks, contact your Cottingham & Butler representative.