February Sees 9.2% Dip in Active Freight Brokerages

Freight brokerages witnessed a 9.2% YoY dip this February. A decrease from the month prior but still up 15% from the pandemic's peak in February 2021.

Here's the numeric rundown:

• Active brokerages now: 27,864
• Last month: 28,055
• February 2021: 24,232 (approx 15% less than now)
• Compared to February 2019: 38% increase

The freight market faces an overabundance:

• OTRI below 4%: Excess truck capacity.
• Freight brokerage boom: Heightened competition for loads.

Percentage Changes Over Time:

• 6 months: -6.0%
• 1 year: -9.2%
• 2 years: -4.2%
• 3 years: +14.8%
• 4 years: +30.7%
• 5 years: +38.1%

Monthly YoY Growth Trends:

• Began dipping in June 2023, accelerating to -9.2% by February 2024.

Insights from Industry Professionals:

Freight professionals on LinkedIn make note of the industry's current state, ripe for market corrections and strategic acquisitions. There's also surprise at the continued resilience of the cycle – the fall in brokerage numbers is smaller than expected.

Source: Brush Pass Research/LinkedIn