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
Sign up for FreightCaviar
The only newsletter you need for freight broker news & entertainment.
No spam. Unsubscribe anytime.