Trucking Fleet Trends in 2020

With the beginning of a new year and a new decade, the trucking sector is likely to confront both opportunities and problems. In 2019, the trucking business experienced some exciting changes, and with changes in the transportation industry occurring on a daily basis, commercial truck insurance will adapt to meet new needs.

While a lot is going to happen in the next decade, these are some of the most important trucking trends to keep an eye on in 2020.

The Most Important Trucking Trends in 2020

Electric trucks are on their way.

While we’ve been seeing electric and hybrid vehicles on the road for a long time, the concept of an electric trucking fleet is new.

Electric trucks will be used by more shippers for last-mile delivery and short-haul distribution than in the past. Amazon revealed an intention to buy 100,000 electric delivery vans recently. UPS, FedEx, and DHL have all expressed interest in purchasing electric trucks.

Although the number of electric trucks purchased in recent years has been limited, this number is likely to increase in the coming years. New state and city rules and incentives are contributing to the electric truck revolution.

California, for example, is considering legislation that would mandate the use of more electric trucks on the road. Diesel trucks are becoming undesirable in European cities due to legislation. It’s only a point of time before these patterns spread across the country.

With more electric trucks on the road, you may expect to see some changes in other sectors as well. To begin with, electric fleets will require charging facilities. This may result in more standard equipment that all commercial trucks, regardless of manufacturer, can utilize.

Currently, normal charging equipment is not always available for electric vehicles. It’s similar to how you can’t charge Android and Apple phones using the same wire. As the numeral of trucks on the road grows, charging stations will have to adjust.

Electric cars are also attracting the attention of commercial truck insurance companies. Electric engines have advantages and disadvantages that could affect insurance rates. On the one hand, electric motors are less prone to break down than gasoline-powered engines and require a different type of maintenance.

Electric motors, on the other hand, are frequently far more expensive. An accident that damages the engine could cost a lot of money to fix. While it’s difficult to predict how electric trucks will affect the insurance market, we’ll learn more about it in the near future.

Technological advancements

Advancing technology at a quicker pace than it has ever been before. We’re seeing innovation in every aspect of our lives, from better cell phones to smarter houses. It’s no different in the trucking sector. Here are some of the most essential areas where technology will have an impact on fleets this year:

Self-driving cars

While the adoption of self-driving cars is still gradual, a lot of research effort is being put into this field. Consider the possibility of self-driving trucks. Trucks will not have to stop for restroom breaks or rest breaks, allowing deliveries to be completed faster.

There will also be questions about the technology’s reliability and accountability for problems. Even if we don’t know how, this will surely have an influence on the commercial trucking business.

Tracking

More shippers want to be able to track the exact position of their freight at all times. Consumers also want to track their packages so they know when they will arrive.

Advanced GPS technology makes pinpointing precise places much easier. Shippers and recipients will have constant access to the whereabouts of their shipments, rather than only seeing checkpoints.

AI stands for Artificial Intelligence.

AI is infiltrating every part of human existence. The transportation sector is becoming more efficient thanks to new AI research. Robotics can assist in the loading and unloading of freight in a safe and efficient manner. AI will also be used to predict maintenance requirements and develop more efficient routes.

Blockchain

Finally, blockchain will aid in the security of data. Contracts, commercial trucking insurance plans, client information, financial statements, and other confidential information will be kept safe. This will assist reduce administrative costs and improve the efficiency of logistical chores.

On the Move: New Players

New trucking companies are springing up every day, despite the hefty costs of entry. The majority of these businesses have six or fewer vehicles. Many people believe that, among other things, new financial regulations and non-recourse financing make it easier for new businesses to emerge.

With more people starting trucking companies, there will be greater competition. While this can help with overall costs, it can damage some of the bigger players. Fortunately, the amount of cargo that must be transported does not appear to be decreasing. New businesses are needed to keep up with demand as corporations like Amazon offer more delivery possibilities.

More transportation firms have an impact on other industries. More mechanics, for example, are needed to keep trucks on the road while also keeping up with new technologies utilized in commercial vehicles. Accessible roads are getting more fuel stations and truck stops. As people want speedier shipment times, we’re seeing more distribution hubs spring up.

Semi trucking insurance providers are likewise attempting to keep up with the growing number of trucking firms. It’s easier than ever to find affordable trucker insurance now that more companies are contributing to the pot. Existing trucking companies, even if they’ve been with their present insurance carrier for years, have a stronger incentive to look around.

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New Rules and Regulations

Today, everyone is concerned about safety, especially as more sophisticated technology are introduced into the transportation business. New laws, standards, and procedures are expected to be developed to guarantee that trucks operate safely.

Companies that transport gasoline and chemicals will be particularly affected. Federal authorities are anticipated to make modifications in response to an increase in the number of chemical spills on regional highways.

New criteria for the trailers used to move specific cargo, as well as the types of training drivers receive, could be part of these laws.

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