Looking ahead to 2023 is more like looking in the rearview mirror for the trucking industry. Many of the issues from the past year, from availability of new equipment to labor woes, will persist in the coming months.
Economic uncertainty is having a domino effect on the industry — at least through the first half of the year. Soft demand for carrier services has caused spot pricing to tumble and carriers have scaled back operations, though they remain optimistic a turnaround is on the horizon.
Still, the industry can expect bright spots this year. Investments in technology such as EVs and autonomous vehicles are ramping up, while OEMs expect to increase production as supply chains improve. And industry experts say while mergers and acquisitions may cool due to the softening economy, deals are likely to continue.
We spoke with experts in the field to better understand the major issues happening in trucking. Read on for insight into what to expect in 2023.