Driver shortage credited for buoying freight economy in 2020 and likely into 2021

November 11, 2020

The supply (capacity) side of the freight market has become very tight in 2020, but not because equipment is scarce. A driver shortage, more than anything else, has put the trucking industry in a position to chase rate increases for perhaps the next two years.

“The driver shortage is driving the current environment,” said Paul Kroes, market insights leader, North America, for Thermo King during a webinar on Tuesday.