Market Overview:
The global less than truckload market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for last-mile delivery services and rising e-commerce sales. In terms of type, the long-haul carriers segment is expected to dominate the market during the forecast period, owing to the increasing demand for transportation services for goods that are shipped over long distances. In terms of application, domestic shipping is expected to be a key segment during the forecast period, as it accounts for a large share of total freight movement in most countries across regions.
Product Definition:
A Less than Truckload shipment is a consignment of goods that is too small to fill a truck. The term usually refers to shipments that weigh less than 10,000 pounds.
Long-haul Carriers:
Long-haul carriers are the most prominent and dominant type of transportation in the less than truckload (LTL) market. They have a higher share in terms of revenue as well as volume. The growth factor for long-haul carriers is high owing to its benefits such as lower operating costs, better economies of scale, and flexibility to operate across several regions without having any dedicated terminal or facility.
Superregional Carriers:
Superregional Carriers (SRC) are a type of freight forwarder that has a widespread network and high capacity to handle shipments that originate from and are bound for any region or country. SRC’s can be used in both LTL as well as truckload modes. They have the ability to handle just about any type of shipment, including liquids, dry goods, pharmaceuticals, temperature-sensitive products among others.
Application Insights:
The international shipping segment dominated the global LTL market in terms of revenue share in 2017. The growth can be attributed to the growing demand for LTL services from end-use industries, such as automotive and electronics. End-use industries require raw materials and semi-finished products that are manufactured overseas. These items are transported across various countries on a large scale through less than truckload services owing to their low weightage and volume restrictions imposed by different countries.
The domestic shipping segment is expected to witness significant growth over the forecast period due to increasing penetration of e-commerce platforms, which has resulted in an increased number of shipments at lower costs for both buyers and sellers.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional LGTL market over the forecast period. The growth can be attributed to increasing trade activities across emerging economies, such as China and India. In 2017, APAC accounted for a share of more than 50% in terms of volume and is anticipated to grow at a CAGR close to 8% from 2018 to 2030.
The Asia Pacific region has witnessed significant growth in recent years owing to an increase in cross-border trade among its various economies. This trend is expected continue over the coming years which will benefit LGTL carriers operating within this region thereby driving their demand for less than truckload shipments across this region.
Growth Factors:
- Increased demand from e-commerce sector: The growth of the e-commerce sector has led to an increase in the demand for LTL shipments as these shipments are ideal for small and lightweight items.
- Rise in number of small businesses: There has been a rise in the number of small businesses in recent years, which has resulted in an increase in the demand for LTL services.
- Growth of manufacturing sector: The growth of the manufacturing sector is leading to an increase in the demand for LTL services as these services are ideal for transporting large and heavy items.
- Expansion of freight brokerage industry: The expansion of freight brokerage industry is providing more options to shippers, which is resulting in increased adoption rates of LTL shipping services.
Scope Of The Report
Report Attributes
Report Details
Report Title
Less than Truckload Market Research Report
By Type
Long-haul Carriers, Superregional Carriers, Regional Carriers
By Application
Domestic Shipping, International Shipping
By Companies
Deutsche Post, FedEx, Kuehne + Nagel, United Parcel Service of America, XPO Logistics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Less than Truckload Market Report Segments:
The global Less than Truckload market is segmented on the basis of:
Types
Long-haul Carriers, Superregional Carriers, Regional Carriers
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Domestic Shipping, International Shipping
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Deutsche Post
- FedEx
- Kuehne + Nagel
- United Parcel Service of America
- XPO Logistics
Highlights of The Less than Truckload Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Long-haul Carriers
- Superregional Carriers
- Regional Carriers
- By Application:
- Domestic Shipping
- International Shipping
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Less than Truckload Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Less than truckload is a freight term that refers to shipments that weigh less than 20,000 pounds.
Some of the major companies in the less than truckload market are Deutsche Post, FedEx, Kuehne + Nagel, United Parcel Service of America, XPO Logistics.
The less than truckload market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Less than Truckload Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Less than Truckload Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Less than Truckload Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Less than Truckload Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Less than Truckload Market Size & Forecast, 2018-2028
4.5.1 Less than Truckload Market Size and Y-o-Y Growth
4.5.2 Less than Truckload Market Absolute $ Opportunity
Chapter 5 Global Less than Truckload Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Less than Truckload Market Size Forecast by Type
5.2.1 Long-haul Carriers
5.2.2 Superregional Carriers
5.2.3 Regional Carriers
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Less than Truckload Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Less than Truckload Market Size Forecast by Applications
6.2.1 Domestic Shipping
6.2.2 International Shipping
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Less than Truckload Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Less than Truckload Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Less than Truckload Analysis and Forecast
9.1 Introduction
9.2 North America Less than Truckload Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Less than Truckload Market Size Forecast by Type
9.6.1 Long-haul Carriers
9.6.2 Superregional Carriers
9.6.3 Regional Carriers
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Less than Truckload Market Size Forecast by Applications
9.10.1 Domestic Shipping
9.10.2 International Shipping
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Less than Truckload Analysis and Forecast
10.1 Introduction
10.2 Europe Less than Truckload Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Less than Truckload Market Size Forecast by Type
10.6.1 Long-haul Carriers
10.6.2 Superregional Carriers
10.6.3 Regional Carriers
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Less than Truckload Market Size Forecast by Applications
10.10.1 Domestic Shipping
10.10.2 International Shipping
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Less than Truckload Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Less than Truckload Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Less than Truckload Market Size Forecast by Type
11.6.1 Long-haul Carriers
11.6.2 Superregional Carriers
11.6.3 Regional Carriers
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Less than Truckload Market Size Forecast by Applications
11.10.1 Domestic Shipping
11.10.2 International Shipping
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Less than Truckload Analysis and Forecast
12.1 Introduction
12.2 Latin America Less than Truckload Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Less than Truckload Market Size Forecast by Type
12.6.1 Long-haul Carriers
12.6.2 Superregional Carriers
12.6.3 Regional Carriers
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Less than Truckload Market Size Forecast by Applications
12.10.1 Domestic Shipping
12.10.2 International Shipping
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Less than Truckload Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Less than Truckload Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Less than Truckload Market Size Forecast by Type
13.6.1 Long-haul Carriers
13.6.2 Superregional Carriers
13.6.3 Regional Carriers
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Less than Truckload Market Size Forecast by Applications
13.10.1 Domestic Shipping
13.10.2 International Shipping
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Less than Truckload Market: Competitive Dashboard
14.2 Global Less than Truckload Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Deutsche Post
14.3.2 FedEx
14.3.3 Kuehne + Nagel
14.3.4 United Parcel Service of America
14.3.5 XPO Logistics
