Coronavirus | Trucking Industry Concrete Recycling

Coronavirus in the Trucking Industry

Gr Trucking | Concrete Recycling | Material Trucking | Sacramento

The Coronavirus pandemic has caused the world to stop. Professional sports teams are cancelling or postponing their seasons. Employees are being sent home to work. Schools are transitioning to online remote learning formats. The Coronavirus is simply taking over. But, what does this mean for the trucking industry?

Truckers need to prepare for a trucking price shock as the impact of the Coronavirus will be felt from Chinese factories to various US distribution centers and manufacturing plants. Experts believe that the impact could allow for a strong rebound once the Coronavirus passes as companies will surely rush to replenish their inventory. The trucking industry had been given warnings from analysts of an upcoming market shift since last year. Large trucking companies are anticipating a squeeze that will begin to disrupt routing guides and possibly 2020 freight budgets as early as the second quarter. That squeeze is delayed because of the Coronavirus but once it passes, it will be much harder than expected. Demand will be way higher as companies have been increasing their consumption of safety stock significantly. Truckers and trucking companies will have to figure out how to navigate this projected industry boom.

Although there is a projected price shock and huge opportunity for industry growth, truckers need to be careful. Truckers often travel nationwide and come into contact with goods shipped from overseas, and this could affect them and anyone who they come into contact with. People are now worried about possible virus transmission going into different facilities. Facilities where people get safety supplies. Truckers need to prioritize extreme safety precautions before anything else. When the Coronavirus pandemic passes, the trucking industry will see a boom in growth and revenue. However, whatever truckers can do to limit the risk of transmitting the virus should come first.

For more information on the Coronavirus in the trucking industry, stay updated here on our blog.