Freight Trucking Rates
Freight and Trucking Industry Overview - March 2025
As of March 2025, the freight and trucking industry is experiencing a gradual rebalancing, influenced by economic moderation, regulatory developments, and market realignments. Below are the latest insights on dry van, flatbed, and reefer rates based on ACT Research's Freight Forecast report.
Spot Market Trends
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Dry Van: Spot rates have shown early-year strength due to weather-driven constraints but have since moderated back toward seasonal norms. Pre-tariff inventory stocking could drive modest upside in rates through the first half of the year, though long-term improvements will depend on broader capacity corrections.
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Flatbed: Flatbed spot rates have experienced a slight increase, supported by infrastructure spending and industrial activity. However, excess capacity remains a headwind, delaying a full recovery in spot market conditions.
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Reefer: Reefer spot rates have remained relatively stable, with seasonal demand for fresh produce and winter-related disruptions keeping capacity tighter than other trailer types.
Contract Rates
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Dry Van: Dry van contract rates have seen modest increases, reflecting the persistent gap between spot and contract rates. This trend supports gradual contract rate growth as fleets navigate economic uncertainties and regulatory considerations.
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Flatbed: Flatbed contract rates have held steady, with infrastructure-related projects and early pre-tariff shipping providing modest rate stability. Broader industrial demand remains soft, influencing overall rate trends.
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Reefer: Reefer contract rates have remained relatively unchanged, with ongoing constraints in reefer capacity supporting rate resilience compared to other trailer segments.
Overall, the freight and trucking industry is navigating a complex environment shaped by economic moderation, regulatory impacts, and market realignments. While certain segments are witnessing capacity tightening due to specific market drivers, contract rates have remained relatively stable, reflecting a cautious equilibrium between shippers and carriers.
To see how freight trucking rates change in the future, and for detailed analysis and forecasts, see ACT's freight & transportation forecast.
“Though contract rates are showing modest gains, ongoing strength in Class 8 orders indicates that capacity additions will persist through 2025. This continued growth in equipment supply is expected to weigh on the for-hire trucking market, reinforcing a slow and uneven path to recovery.”
Tim Denoyer
VP & Sr. Analyst
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