Less-Than-Truckload (LTL) Market size to increase by USD 110.7 Billion between 2024 to 2029, Market Segmentation by Type, Capacity, Geography , Technavio

NEW YORK, Jan. 10, 2025 /PRNewswire/ -- The global less-than-truckload (ltl) market size is estimated to grow by USD 110.7 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of 6.8% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

1. Type 
• 1.1 Long-haul carriers
• 1.2 Superregional carriers
• 1.3 Regional carriers
2. Capacity 
• 2.1 Light LTL volume
• 2.2 Heavy LTL volume
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America
4. Geography 
• 4.1 Mexico
• 4.2 Australia
• 4.3 Brazil
• 4.4 Kingdom of Saudi Arabia (KSA)
• 4.5 UAE
• 4.6 South Africa
5. Destination

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1.1 Fastest growing segment:

The global less-than-truckload (LTL) market's largest revenue contributor is the long-haul carrier segment. Long-haul LTL carriers, also known as national LTL carriers, transport shipments within 3 to 5 business days, covering an average distance of approximately 1,200 miles per haul. These carriers operate through a hub-and-spoke network and often have labor unions. The long-haul LTL carriers segment is projected to grow steadily due to economic conditions in the country. Long-haul LTL carriers offer value-added services, such as packing, unpacking, and door-to-door freight collection. Despite competition from other transportation modes, long-haul LTL carriers remain popular due to their efficiency and timely delivery. Businesses benefit from outsourcing their freight and transportation needs, as managing in-house transportation requires significant investment and expertise. The long-haul LTL carriers segment provides additional services, including project logistics, network planning, cargo insurance, value-chain optimization, and customs brokerage. The increase in industrial activities worldwide is expected to fuel the growth of the long-haul LTL carriers segment in the LTL market.

Analyst Review

The Less-than-truckload (LTL) market plays a crucial role in transporting goods for various industries such as Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, and Retail. Freight volumes in the LTL market are driven by the demand for transporting smaller consignments, making it an essential mode of transport for MSMEs. E-commerce and the logistics sector have significantly contributed to the growth of the LTL market in recent years. Freight pricing trends in the LTL market are influenced by factors like fuel prices, trailer capacity utilization, and cargo density. Scalability and affordability are key benefits of LTL services, making them a popular choice for shippers with smaller freight volumes. Road freight services are the primary mode of transport in the LTL market, offering flexibility and efficient delivery solutions. The LTL market caters to various industries, including Crude oil, where it is used for transporting drilling equipment and other supplies. Freight carriers offer customized solutions to meet the unique needs of different industries, ensuring timely and efficient delivery of cargo. The market is expected to continue growing due to increasing demand for affordable and flexible freight transportation solutions.

Market Overview

The Less-than-truckload (LTL) market caters to the shipping needs of various industries such as Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, and others. Freight transport volume in the LTL market is driven by the demand for retail products, e-commerce, and MSME sector growth. Freight pricing trends are influenced by factors like fuel prices, operational efficiency, and economic conditions. LTL services offer scalability and affordability for small to medium shipments, making them popular among businesses. Road freight services dominate the LTL market due to their flexibility and wide reach. Logistics sector players provide LTL services for various industries, including retail and industrial shipping. Fuel prices, particularly for diesel and petrol, significantly impact LTL freight costs. Truckers and oil marketing companies play crucial roles in the LTL market, as they manage the supply of crude oil and the distribution of fuel to LTL carriers. Freight carriers offer LTL services for various industries, with full truckload carriers and specialized carriers catering to specific needs. Shippers look for trailer capacity and cargo density-based pricing to optimize their logistics costs. The LTL market is seeing innovation with the entry of startups offering volume LTL services and new pricing models like density-based pricing. Overall, the LTL market is essential for businesses seeking efficient and cost-effective freight transportation solutions.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

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SOURCE Technavio