Global Less-than-Truckload (LTL) Market Size Study, by Type (Long-haul Carriers, Superregional Carriers, Regional Carriers), by Capacity (Light, Heavy), by Destination (Domestic, International), and Regional Forecasts 2022-2032

Description

The global Less-than-Truckload (LTL) market, valued at approximately USD 216.68 billion in 2023, is set to experience a robust growth trajectory, surging at a CAGR of 6.9% over the forecast period 2024-2032. As supply chain complexities continue to evolve and e-commerce expands, the demand for cost-effective and flexible freight transportation solutions has skyrocketed. Less-than-Truckload services, which consolidate multiple shipments into one truckload, have emerged as a critical component in optimizing logistics efficiency while keeping costs manageable for businesses of all sizes.

A significant factor fueling the expansion of the LTL market is the growing demand for just-in-time (JIT) deliveries and improved supply chain efficiencies across industries. The market is being driven by technological advancements in freight tracking, automation in logistics, and the increasing adoption of artificial intelligence (AI) in route optimization. Moreover, as businesses shift toward sustainable transportation solutions, electric and fuel-efficient freight vehicles are gaining traction, reducing the environmental footprint of LTL carriers.

The accelerated growth of e-commerce is another key driver propelling the Less-than-Truckload market forward. As online retail giants continue to expand, businesses are increasingly opting for LTL solutions to facilitate cost-effective, fast, and reliable deliveries. Additionally, small and medium enterprises (SMEs) are significantly benefiting from LTL services, which provide them access to affordable freight transportation without requiring full truckloads. The push for enhanced freight visibility and real-time tracking has also led logistics providers to invest in IoT-enabled transportation management systems.

From a regional perspective, North America continues to dominate the LTL market, largely driven by strong infrastructure, high adoption of advanced logistics technologies, and the presence of major transportation players. Meanwhile, Asia-Pacific (APAC) is expected to witness the fastest growth, fueled by rapid industrialization, the proliferation of e-commerce, and government initiatives promoting trade and cross-border logistics. Europe remains a crucial market, benefiting from a well-established logistics framework and stringent regulations fostering efficiency in freight transport.

Major Market Players Included in This Report:

FedEx Corporation
United Parcel Service (UPS) Inc.
XPO Logistics, Inc.
Old Dominion Freight Line, Inc.
YRC Worldwide Inc.
R+L Carriers
Estes Express Lines
Saia, Inc.
Schneider National, Inc.
ArcBest Corporation
TFI International Inc.
Southeastern Freight Lines
Pitt Ohio Transportation Group
Averitt Express, Inc.
Dayton Freight Lines, Inc.

The Detailed Segments and Sub-Segments of the Market Are Explained Below:

By Type:

Long-haul Carriers
Superregional Carriers
Regional Carriers

By Capacity:

Light
Heavy

By Destination:

Domestic
International

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years Considered for the Study:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024-2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032
Annualized revenues and regional-level analysis for each market segment
Detailed geographical landscape analysis with country-level insights
Competitive landscape evaluation with major players and their market positioning
Key business strategies and recommendations for future market approach
Competitive structure analysis to understand industry dynamics
Demand-side and supply-side analysis of the market

Chapter 1. Global Less-than-Truckload Market Executive Summary

1.1. Global Less-than-Truckload Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
  - 1.3.1.1. Long-haul Carriers
  - 1.3.1.2. Superregional Carriers
  - 1.3.1.3. Regional Carriers
- 1.3.2. By Capacity
  - 1.3.2.1. Light
  - 1.3.2.2. Heavy
- 1.3.3. By Destination
  - 1.3.3.1. Domestic
  - 1.3.3.2. International
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Less-than-Truckload Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Less-than-Truckload Market Dynamics

3.1. Market Drivers
- 3.1.1. Growing Demand for Cost-effective & Flexible Freight Solutions
- 3.1.2. Technological Advancements in Freight Tracking & Route Optimization
- 3.1.3. Expansion of E-commerce and Just-in-Time Delivery Requirements
3.2. Market Challenges
- 3.2.1. High Operational Costs & Capacity Constraints
- 3.2.2. Regulatory and Infrastructure Challenges
3.3. Market Opportunities
- 3.3.1. Adoption of IoT and AI in Logistics Management
- 3.3.2. Rising Demand among SMEs for LTL Solutions
- 3.3.3. Expansion of Sustainable and Fuel-efficient Freight Vehicles

Chapter 4. Global Less-than-Truckload Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Less-than-Truckload Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Less-than-Truckload Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Long-haul Carriers
- 5.2.2. Superregional Carriers
- 5.2.3. Regional Carriers

Chapter 6. Global Less-than-Truckload Market Size & Forecasts by Capacity 2022-2032

6.1. Segment Dashboard
6.2. Global Less-than-Truckload Market: Capacity Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Light
- 6.2.2. Heavy

Chapter 7. Global Less-than-Truckload Market Size & Forecasts by Destination 2022-2032

7.1. Segment Dashboard
7.2. Global Less-than-Truckload Market: Destination Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Domestic
- 7.2.2. International

Chapter 8. Global Less-than-Truckload Market Size & Forecasts by Region 2022-2032

8.1. North America LTL Market
- 8.1.1. U.S. LTL Market
  - 8.1.1.1. Type Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.2. Capacity & Destination Breakdown Size & Forecasts, 2022-2032
- 8.1.2. Canada LTL Market
8.2. Europe LTL Market
- 8.2.1. U.K. LTL Market
- 8.2.2. Germany LTL Market
- 8.2.3. France LTL Market
- 8.2.4. Spain LTL Market
- 8.2.5. Italy LTL Market
- 8.2.6. Rest of Europe LTL Market
8.3. Asia Pacific LTL Market
- 8.3.1. China LTL Market
- 8.3.2. India LTL Market
- 8.3.3. Japan LTL Market
- 8.3.4. Australia LTL Market
- 8.3.5. South Korea LTL Market
- 8.3.6. Rest of Asia Pacific LTL Market
8.4. Latin America LTL Market
- 8.4.1. Brazil LTL Market
- 8.4.2. Mexico LTL Market
- 8.4.3. Rest of Latin America LTL Market
8.5. Middle East & Africa LTL Market
- 8.5.1. Saudi Arabia LTL Market
- 8.5.2. South Africa LTL Market
- 8.5.3. Rest of Middle East & Africa LTL Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. FedEx Corporation
- 9.1.2. United Parcel Service (UPS) Inc.
- 9.1.3. XPO Logistics, Inc.
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. FedEx Corporation
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. Old Dominion Freight Line, Inc.
- 9.3.3. YRC Worldwide Inc.
- 9.3.4. R+L Carriers
- 9.3.5. Estes Express Lines
- 9.3.6. Saia, Inc.
- 9.3.7. Schneider National, Inc.
- 9.3.8. ArcBest Corporation
- 9.3.9. TFI International Inc.
- 9.3.10. Southeastern Freight Lines
- 9.3.11. Pitt Ohio Transportation Group
- 9.3.12. Averitt Express, Inc.
- 9.3.13. Dayton Freight Lines, Inc.

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes