Trucking Industry Trends: Demand for Steel Stamping
Demand shifts and technology trends in the trucking industry are strong indicators of the value of a one-stop steel supplier.
2020 Trucking Industry Trends
- Lower demand. Continued success. According to Senior Market Analyst DAT Peggy Dorf, “demand for freight transportation will probably not stay as high as the historically tight freight capacity and high shipping rates of 2018.” However, she also predicts that the freight market will “dodge the potholes” and remain strong in the coming year thanks to good economic conditions.
- More productive. Cost and time savings. Uberization refers to a method of connecting shippers with small truck companies to move freight within a certain radius, expanding the accessibility and use of trucks for a wider range of transactions. Like Uber, customers (shippers) can locate available drivers near them to move product.
- Fewer breakdowns and accidents. Telematics is rapidly expanding throughout the trucking industry, providing real-time data on the performance, condition and movement of vehicles. This data is used to monitor driver and truck performance and assuredly improves the overall safety of the industry.
Steel Supply & Metal Stamping and Trucking Trends
- Higher demand for metal stamping. Metal stamping is an especially high-value service offering of steel suppliers in the automotive industry. The reliability of precision stamping and forming to produce uniform, safe, and efficient parts cannot be undervalued. According to IBIS, the automobile metal stamping industry’s revenue is anticipated to continue rising over the five years from 2019 to 2024.
- More demand for one-stop steel suppliers. In the near future, as demand tightens and technology ramps up, reliable steel suppliers that provide one-stop service (machining, stamping, burning, forming, robotic welding and assembly, and delivery) are in increasing demand. A one-stop steel supplier who has the capability to stamp and form the metal delivers an end product that contributes to the overall safety and performance of the vehicle and fleet. Safe and reliable vehicles are the ones that will survive any downturn in demand and be suited for technological upgrades that are on the horizon.
What the Trucking Industry Should Look for in a Steel Supplier This Year
When deciding on a steel supplier to partner with, buyers within the automotive industry look for both fabricated product and value-added services. Computer Numerical Controlled (CNC) mechanical and hydraulic press brakes allow computer-programmed bend sequences, which produces consistent end products. Additionally, having varied stamping capabilities allows suppliers to provide low and high volume runs with both manual and coil fed materials. Orders for new and existing models of trucks and other vehicles can be fulfilled by the same supplier. Purchasing agents across the steel and automotive industries seek partnerships with steel suppliers who have these capabilities and can deliver them just-in-time.
About Westfield Steel
Westfield Steel has deep midwestern roots. Founded in 1977, we fabricate and distribute steel for businesses throughout Indiana, Ohio, Illinois, Missouri, Kentucky and Tennessee. Our distribution arm, Westfield Steel Express, is an authorized-for-hire common carrier that provides affordable, on-time delivery for a wide range of cargo, including lumber, cement, steel coils, heavy equipment and building materials.
Industry affiliations
Westfield Steel’s industry affiliations include: The Metals Service Center Institute (MSCI), the North American Steel Alliance (NASA), the Precast/Prestressed Concrete Institute (PCI), the Indiana Fabricators Association (IFA), the American Welding Society (AWS), the Canadian Welding Bureau (CWB) and the Ohio Structural Steel and Architectural Metals Association (OSA.)
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