Due to supply chain disruptions and rising input material costs, the trucking industry has been under operational headwinds. In addition, as oil prices climbed to 13 week-high recently, profit margins of trucking companies have been shrinking tremendously.
However, the rising need for logistics companies to automate operations and foster the flow of goods in an efficient manner could drive the industry’s growth. Moreover, trucking companies are taking active steps to optimize their warehouse logistics and transportation amid the continued global supply chain disruptions. Also, advanced technologies such as driverless vehicles, robotics, de-carbonization of transportation, autonomous control, and wearable computing are expected to drive the demand of the truck industry.
