Because the demand for trucking transportation is expected to increase significantly in the coming months amid ongoing supply chain constraints, we think it could be wise to bet on quality trucking stocks ArcBest (NASDAQ:ARCB), P.A.M Transportation (PTSI), and Covenant Logistics (CVLG). Let’s discuss.The skyrocketing demand for raw materials, auto parts, and other goods amid current supply chain interruptions is driving rising demand for trucking transportation. With the gradual economic recovery and increasing vaccination numbers, the demand for truck-based transit is expected to surge ahead of the holiday season.
Furthermore, the electrification of trucks and the adoption of advanced technologies are expected to boost the trucking industry’s growth. According to a Research and Markets report, the global-local general freight trucking market is expected to grow at a 12% CAGR to $125.24 billion this year.
Given this backdrop, we think it could be wise to bet on fundamentally strong trucking stocks ArcBest Corporation (ARCB), P.A.M. Transportation Services, Inc. (NASDAQ:PTSI), and Covenant Logistics Group, Inc. (CVLG).