What Is the Future of Flatbed Trucking?

flatbed trucking companies

Flatbed trucking is a market that changes constantly. For example, the market had reached an all-time high in April 2018. But by the end of that summer, the flatbed trucking market fell drastically. It is hard to deal with these fluctuations when it comes to staying on budget and dealing with quality customer service. Disruptions happen all of the time. To keep things consistent, it is important to understand the challenges that many flatbed trucking companies face.

Fluctuations in the market can happen because of factors related to supply and demand. These include a lack of skilled drivers, natural disasters, growth or decline of other industries, and seasonal demand.

Higher Capacity

If there is a natural disaster, there can be quite a bit of disruption. For instance, if there is a hurricane, the community will need to build again, and people and businesses will need a ton of supplies. Relief goods would take up more room than they usually would. But construction workers also need to come to rebuild the area, and they often come from the same workforce as truckers do. That’s just one example of what can cause a fluctuation in the oversize freight shipping industry.

Supply and Demand

In the summer of 2018, the number of flatbed LTL trucks declined. But flatbed trucking companies procured new ones, catching up with the demand eventually. They also looked at opportunities for moving freight from traditional trucks to other kinds of vans.

Because of uncertainty in the economy, things are up in the air a bit currently. And with the COVID-19 pandemic, many large projects are currently on hold. So now the demand for flatbed shipping is going down.

Look at Industry Forecasts

You cannot predict the future, but looking at the forecasts can be helpful in certain cases. Some might show that the truck to load ratio will become more stable next year. But there are several factors that might throw off the prediction. It’s important to provide upfront, accurate information while making sure that drivers become treated well. Having the right supplies in the beginning is also helpful. Working with a reliable logistics company can help you get there by working with the right network of carriers.

Find a Trusted Heavy Equipment Transport Company

Fluctuations in the market will continue to come and go. Going through these market changes is not always easy, but ShipCanada Inc. is here to help. We can connect you with the best oversize freight shipping companies in the industry. Feel free to call us today to find out how we can help you stay ahead by preparing for unexpected events.