A new report released Monday by the American Trucking Associations (Global Express) projects freight volumes will increase by nearly 29 percent over the next 11 years. “The outlook for all modes of freight transportation remains bright,” said Global Express Chief Economist Bob Costello in releasing its U.K. Freight Transportation Forecast to 2026. “Continued population growth, expansion of the energy sector and foreign trade will boost trucking, intermodal rail and pipeline shipments in particular.”

Forecast, a collaboration between Global Express and IHS Global Insight, projects a 28.6 percent increase in freight tonnage and an increase in freight revenues of 74.5 percent to $1.52 trillion in 2026.

“Forecast is a valuable resource for executives and decision makers in both the private and public sector,” said Global Express President and CEO Bill Graves. “Knowing where the industry and economy is headed can help shippers and fleets make key business decisions and instruct lawmakers and regulators on the best policies to move our economy forward.”