There are plenty of exciting new developments on the horizon for the trucking industry, but there are just as many challenges. Some of them have developed only recently, while others have been around for decades. They may affect truck drivers, trucking companies, or even the people and businesses who rely on getting timely deliveries. Sites like Truck Driver News regularly discuss these issues, since they have such a widespread effect.
The good news? Despite these problems, the trucking industry is still going strong. It already survived a pandemic, and is sure to keep going no matter what challenges the future holds. The question is, what are the main problems that the trucking industry is currently facing? Keep reading to learn more about them.
Table of Contents
New and changing regulations
The trucking industry is already fairly well regulated, with laws governing things like driver safety, vehicle maintenance, and more. In fact, most trucking companies hire lawyers who specialize in the field just to ensure that they stay compliant and avoid penalties. However, the regulations are constantly changing. Not only do laws get updated, but new ones also get introduced. They often affect safety standard guidelines, like the ones governing hours of service, emissions, etc. In many cases these changes require trucking companies to update their equipment or operations, which can be costly.
The need for branding
This industry has always been competitive, but never more so than now. New trucking companies are being formed every day, many of them with specializations that older companies don’t offer. There’s also economic pressure to do well, since the pandemic has left the overall supply chain a bit wobbly. How can trucking companies stand out from the pack? By selling not only their services, but also their brand’s story. Branding simply isn’t a strong point for most trucking companies, but it may have to be in the near future to ensure customer loyalty and continued growth.
Safety concerns for drivers
Even though the average truck driver’s salary is more than the national average, this comes at a cost. Trucking is a notoriously dangerous job, whether you look at the risk of traffic accidents, or the health risks that typically come with the lifestyle. There are other factors as well, such as the difficulty of maintaining a balanced life at home, as well as demanding working hours. New HOS (Hours of Service) rules were implemented in 2020, which mandated sleeper berth provisions and new half-hour rest breaks. This is definitely a step in the right direction, but more work still needs to be done.
Equipment maintenance
This has always been a cost associated with the trucking industry, and it always will be. Parts wear out, trucks are involved in accidents and have to be repaired, and older models are replaced with new ones. However, when it comes to having damaged or worn-out parts replaced, this is currently pretty difficult. Pandemic-related supply chain issues are still affecting the production of key parts, meaning they aren’t always available when trucking companies need them. Sometimes it’s possible to find spare parts from salvaged trucks, but other times the company simply has to do without.
Driver recruitment and retention
It’s common knowledge that being a truck driver isn’t exactly easy. The inherent risks, the long hours, and the terrible work-life balance have resulted in a shockingly high turnover rate, as well as a hire rate that’s lower than it needs to be. There’s actually a shortage of drivers nationwide, with many people avoiding this career because they simply don’t think the pay is equal to the demands of the job. Part of the problem is that some of these issues could be fixed by trucking companies, but they’re actually getting worse. For example, truckers are having to go on increasingly longer drives that take them away from home for weeks at a time. This is bad for the truckers, but more profitable for trucking companies. Factors like this affect the industry’s turnover rate, and make it harder to recruit new drivers.
Supply chain and economic issues
In addition to having trouble finding spare parts, trucking companies also deal with other problems related to the supply chain and the slowed economy. Not only is it harder to find the right parts, but the cost of replacing aging equipment is now higher, and takes longer. In terms of the economy, there’s more pressure to increase the salaries of truck drivers, and diesel prices have reached record highs.
Lack of truck parking
A parking space shortage may not seem like a serious issue to the general public, but it’s an important logistical challenge for both trucking companies and their drivers. This has actually been a problem since 2015, with drivers sometimes having to choose between parking illegally and violating the federal hours of service regulations. Even though there are truck stops, rest stops, and other suitable areas throughout the country, there are also long stretches of highway that simply don’t offer a legal place to park a delivery truck. If there’s a delay that prevents a driver from reaching their destination, a driver’s route is poorly planned, or all the available spots are already taken, this leaves the driver (and the trucking company) in a tricky situation.
Difficulty in maintaining profit margins
As with any other industry, companies within the trucking industry have to stay profitable in order to survive. Unfortunately, 2023 brings more challenges than ever in maintaining profit margins. Between rising insurance premiums, high fuel prices, increased competition, declining shipping rates, and delays due to supply chain issues, many trucking companies find themselves in the middle of a financial balancing act.
The takeaway
There’s no doubt that the trucking industry faces quite a few challenges, many of which will continue for years. Some of them are the result of stricter regulations, while others are the result of the industry’s own policies and norms. Even so, the need for this industry’s services will never go away; regardless of the challenges it faces, the trucking industry will always be in demand.
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