Future opportunities for the trucking industry
Trucking is a very important industry from an economy’s point of view. Not just big manufacturing industries, even the small ones like retail, hospitality, gas distribution, garbage disposal, construction, and even a clean water supply system depends entirely upon trucking to distribute cargo. Even before a product reaches store shelves, the raw materials and works in progress that go into manufacturing any given product are moved by trucks.
Despite the importance of the trucking industry, it is difficult to measure the real impact of trucking on the economy. This is because trucking services are very much inter-connected with all sectors of the economy. In addition, the industry plays a very important supporting role for other transportation modes and for other sectors of the economy such as the manufacturing, construction, and wholesale and retail trade industries. The trucking industry is also a big employment generator, and employs people both directly (drivers) and indirectly (support staff).
Given the huge opportunity that the trucking sector provides in a country like India, a slew of competitors are entering the fray. The Indian trucking market has grown rapidly in the fast and is expected to maintain its momentum in the future as well. This is notwithstanding the usual business cycles when sales drop only to recover in the next boom.
With better highway infrastructure providing better bearing capacity is leading to an increased demand for new trucking capacity in the country. Trucks with higher tonnages are making their entry into the market, which has been dominated by small trucks all these years.