In an era of shifting global trade dynamics, one market continues to demonstrate remarkable resilience. As tariff policies create waves of uncertainty across supply chains, North America's intermodal sector has emerged as an unexpected success story, posting seven consecutive quarters of growth through Q2 2025.
Steady Growth Against the Odds
The latest Intermodal Quarterly Report from the Intermodal Association of North America (IANA) reveals total volume reached 4,579,798 units in Q2 2025, marking a 2.4% year-over-year increase. This represents a significant turnaround from the previous eight-quarter decline, signaling renewed strength in the sector.
Sector Breakdown: Domestic vs. International
The market's performance reveals divergent trends:
Domestic container shipments grew steadily by 2.6% to 2,119,717 units, while domestic trailer volumes plummeted 25.4% to just 108,919 units. Combined domestic equipment grew modestly at 0.8%.
Meanwhile, international container movements surged 2.4% to 2,351,162 units, becoming the primary growth driver.
Economic Drivers Behind the Growth
Three key factors fueled Q2's performance:
1.
Retail sales
hit record highs with 3.7% growth
2. The Federal Reserve's manufacturing index reached 100.8 – its highest quarterly average since late 2018
3. U.S. GDP growth exceeded expectations at 3.0%
IANA analysts attribute much of the momentum to a " pre-shipping surge " as companies accelerated deliveries ahead of anticipated tariff implementations.
Challenges on the Horizon
IANA President and CEO Anne Reinke cautioned that ongoing tariff policies, particularly reciprocal measures implemented by the White House, create uncertainty for Q3 and beyond. The U.S.-China trade relationship remains the sector's most significant wildcard, with potential agreements possibly protecting international intermodal volumes.
Reinke noted that while consumer spending remained strong despite Chinese import tariffs, the long-term effects remain uncertain. She also predicted the continuation of " flattened peak seasons ," with shipping patterns increasingly spread throughout the year.
IMC Sector Shows Contrasting Results
Intermodal Marketing Companies (IMCs) reported an 8.2% volume decline to 286,642 units, ending four consecutive quarters of growth. Total IMC revenue fell 14.3% to $1.1 billion, with both intermodal and highway freight experiencing per-unit revenue declines.
Import-Driven Growth Faces Headwinds
While imports currently drive North American intermodal growth, IANA warns that the pre-shipping effect may lead to reduced future volumes. However, tariff-induced price increases haven't yet significantly impacted consumer goods demand, suggesting stable import levels through 2025.
Conclusion: Cautious Optimism
The North American intermodal market has demonstrated impressive resilience amid trade policy turbulence. While Q2's results show promise, the sector faces ongoing challenges from geopolitical trade dynamics, shifting consumer behavior, and evolving supply chain strategies.