Flatbed Rates

Flatbed Truckload (TL) Sector – October 2025

Flatbed market conditions through September 2025 continue to mirror the drag from weak industrial output, delayed infrastructure funding, and broad private-sector caution. Despite some temporary strength from pre-tariff shipping, fundamentals remain soft as construction, manufacturing, and energy-related freight volumes stay below expectations. Below is the latest analysis of spot and contract flatbed rates from ACT Research’s October 2025 Freight Forecast.

Spot Market Rates

Flatbed spot rates were up 41% y/y in September but were unchanged month-over-month, signaling stability without real recovery. Much of the annual improvement reflects easier comparisons to last year’s lows rather than meaningful freight growth. Load activity remains weak across construction materials, heavy equipment, and industrial commodities, with most public infrastructure projects still lagging due to slow disbursement of federal funds.

Capacity continues to exceed demand, keeping rates range-bound despite tightening in other segments. With manufacturing activity stagnant and housing starts down, flatbed carriers are seeing few catalysts for improvement heading into Q4. Tariff-related cost increases in steel and heavy equipment continue to suppress project activity and overall freight flow.

ACT Research September 2025 Flatbed Spot Rates

Contract Market Rates

Flatbed contract rates remained steady in September, extending the flat trend seen throughout 2025. ACT Research notes that while public project spending offers a modest floor, bid cycles remain competitive and y/y contract pricing is down from 2024 levels. Shippers continue to favor shorter bid terms and aggressive cost control, reflecting a lack of visibility on 2026 capital budgets.

Carriers are focusing on margin protection and tactical capacity deployment rather than expansion. With no material improvement in industrial freight or equipment demand expected before mid-2026, contract rate momentum remains muted.

Outlook

The flatbed segment is expected to remain under pressure through late 2025 and into early 2026. Tariff-driven input cost inflation, weak industrial and energy freight, and slow-moving infrastructure projects are all constraining market recovery.

A meaningful rebound in flatbed volumes will depend on accelerated infrastructure funding, improved manufacturing utilization, and greater clarity on trade and emissions policy. Until then, flatbed carriers are expected to prioritize yield management, cost efficiency, and asset discipline, with no material pricing upside likely before mid-2026.

To see how flatbed rates change in the future, and for detailed analysis and forecasts or truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.