The trucking industry will need to hire 890,000 drivers in the next decade to replace retirees and meet rising demand, and companies are already pushing up pay to avoid falling short, according to a new study by the American Trucking Associations.

The industry group estimates that trucking companies will have to bring on an additional 47,500 drivers this year to smoothly handle customers’ orders, a figure that would grow to 73,500 next year if the economy picks up speed. The labor crunch is likely to worsen in coming years...