Trucking industry experts are hopeful for a better 2021 after a difficult year for the industry in 2020. The pandemic paralyzed most operations apart from those deemed as essential. Additionally, the U.S economy entirely depended on the trucking industry for shipments. With the vaccine currently in the equation, experts are optimistic for a strong start to 2021.

American Trucking Associations Chief Economist Bob Costello reiterated that return to normalcy entirely depends on how quickly the vaccine will reach the people. With a return to normalcy, the service and manufacturing sectors will flourish hence more freight. Large Trucking and Logistics companies, including FedEx Corp., UPS Inc., and DHL Supply Chain, in league with smaller companies, have been at the center of the vaccine distribution.

Thepandemic paralyzed the service industry while some sectors like the medical equipmentmanufacturers gained from it. The U.S, Mexico, and Canada had just agreed on atrade pact, whose impact was never assessed as the pandemic hit so hard. Despitethe challenges, the borders were left open to truckers to deliver essentialservices.

One major challenge for the new administration will be dealing with trade issues with China, especially tariffs imposed by the previous administration. For now, the new administration didn't make any decision.

Pay rise for drivers

Drivershortage and retention was a big issue in 2020, with capacity problems beingevident resulting from big volumes of demand. To curb driver shortages, mostcompanies have focused on pay and compensation programs. A pay rise not onlyretains the current talent but attracts new drivers, eliminating the shortageissues. Pay rise for drivers is an issue that will recur even in 2021,especially if business remains as strong as projected. 

Towards the end of 2020, the acquisition of trucks was high. The increase in the orders meant that trucking companies were making profits. Therefore, heading into 2021, when the vaccine reaches most people, sales are projected to remain steady, with the economy slowly returning to normal. The same means there will be more orders due to the need for more capacity.