Local Freight Trucking in Canada - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 48411CARevenue
$13.4bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
52,100
Businesses
39,549
Wages
$X.Xbn
Local Freight Trucking in Canada industry analysis
Canadian local freight truckers have benefited from robust growth as consumer spending recovers. Truckers have transported a larger amount of manufacturing inputs and consumer products as the government lifted pandemic restrictions. Also, increasingly complex manufacturing and retail supply chains have pressured many downstream industries to outsource logistics operations and transportation to local freight truckers. Still, the lows of the pandemic were harsh, stifling the industry's growth. Local Freight Trucking industry revenue has been inching upward at a CAGR of 0.6% over the past five years and is expected to total $13.4 billion in 2024, when revenue will jump by an estimated 0.5%.
Trends and Insights
- Despite rising employment, local freight truckers have endured skilled labour shortages. Companies have increased wages to attract these skilled labourers and to mitigate supply chain mishaps. These shortages create operational challenges that can impact delivery times and overall efficiency.
- Trucking companies expanded services. Companies that offer warehousing, distribution, repacking, storage and freight forwarding secure their place in global supply chains. These expanded services enable them to provide comprehensive logistics solutions, increasing their client value proposition.
- Most truckers serve Ontario and Quebec. These regions have strong manufacturing sectors and robust populations, leading to higher freight volumes. These areas' concentration of industries and consumers makes them critical hubs for local freight trucking operations.
- Trucking companies compete on price, reliability and speed. A strong reputation for quality service can justify slightly higher freight rates. Companies with a history of on-time deliveries and safe transport can leverage their reputation to maintain client loyalty even when prices fluctuate.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.6 % over the past five years, to reach an estimated $13.4bn in 2024.
Trends and Insights
Companies struggle to fill vacant positions
- Driver vacancies amid burgeoning demand for trucking have constrained current operations. An aging workforce, long hours and pay issues have led to a high turnover of skilled workers. Despite this, industry employment has been increasing overall, but most jobs are dedicated to lower-tier warehousing jobs. Acquiring skilled truckers has been and continues to be a challenging endeavor.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Truckers will adopt new technology
- Fleet owners will seek to acquire hybrid, battery and plug-in electric vehicles to advertise a more environmentally friendly fleet and eliminate fuel price uncertainty.
Biggest companies in the Local Freight Trucking in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Mullen Trucking Corp. | 598.1 | N/A | N/A | |
TFI International Inc. | 475.0 | N/A | N/A |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Truckload services, Less-than-truckload services and Intermodal services. Truckload services is the largest segment of the Local Freight Trucking in Canada.
Trends and Insights
A rise in overall trade activity boosts demand for truckload services
- Truckload carriers handle shipments weighing more than 4,536 kilograms. These carriers also dedicate full trucks to one customer and make door-to-door deliveries of goods.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Rail Transportation in Canada
- Long-Distance Freight Trucking in Canada
- Local Specialized Freight Trucking in Canada
- Tank & Refrigeration Trucking in Canada
Complementors
- There are no industries to display.
International industries
- Local Freight Trucking in the US
- Local Specialized Freight Trucking in the US
- Tank & Refrigeration Trucking in the US
- Dump Truck Services in the US
- Road Freight Transport in Australia
Table of Contents
About this industry
Industry definition
Operators in the Local Freight Trucking industry in Canada provide general freight trucking services over short distances. General freight companies handle a variety of commodities, which are usually palletized and transported in a container or van trailer. Local general freight trucking companies commonly provide trucking within a metropolitan area that may cross provincial borders and these trips are typically same-day return.
What's included in this industry?
Truckload servicesLess-than-truckload servicesIntermodal servicesDry-bulk servicesOther servicesCompanies
Mullen Trucking Corp.TFI International Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
TRUCKLOADLESS-THAN-TRUCKLOAD (LTL)FUEL SURCHARGEIndustry Code
NAICS 484110 - Local Freight Trucking in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Despite rising employment, local freight truckers have endured skilled labour shortages. Companies have increased wages to attract these skilled labourers and to mitigate sup...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Trucking companies expanded services. Companies that offer warehousing, distribution, repacking, storage and freight forwarding secure their place in global supply chains. Th...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Most truckers serve Ontario and Quebec. These regions have strong manufacturing sectors and robust populations, leading to higher freight volumes. These areas' concentration ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each province in 2024
- Number and share of revenue each province accounts for in 2024
- Number and share of wages each province accounts for in 2024
- Number and share of employees in each province in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Trucking companies compete on price, reliability and speed. A strong reputation for quality service can justify slightly higher freight rates. Companies with a history of on-...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Small and medium-sized companies dominate the industry. Larger freight companies often subcontract work to these smaller truckers to reduce downtime. This subcontracting crea...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Mullen Trucking Corp.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of TFI International Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Mullen Trucking Corp., and factors influencing its performance in the industry
- Description and key data for TFI International Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Canadian truckers adhere to environmental and workplace standards. Companies can receive heavy fines for violating hours of service, the national safety code and emissions st...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Rising wage costs have limited profit growth. Companies have automated many logistics operations but can’t keep up with per-employee wage hikes. This imbalance puts pressure ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Assets (2017-2022)
- Liabilities (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Local Freight Trucking industry in Canada in 2024?
The market size of the Local Freight Trucking industry in Canada is $13.4bn in 2024.
How many businesses are there in the Local Freight Trucking in Canada industry in 2024?
There are 39,549 businesses in the Local Freight Trucking industry in Canada, which has grown at a CAGR of 2.2 % between 2019 and 2024.
Has the Local Freight Trucking industry in Canada grown or declined over the past 5 years?
The market size of the Local Freight Trucking industry in Canada has been growing at a CAGR of 0.6 % between 2019 and 2024.
What is the forecast growth of the Local Freight Trucking industry in Canada over the next 5 years?
Over the next five years, the Local Freight Trucking industry in Canada is expected to grow.
What are the biggest companies in the Local Freight Trucking market in Canada?
The biggest companies operating in the Local Freight Trucking market in Canada are Mullen Trucking Corp. and TFI International Inc.
What does the Local Freight Trucking in Canada include?
Truckload services and Less-than-truckload services are part of the Local Freight Trucking industry.
Which companies have the highest market share in the Local Freight Trucking in Canada?
The company holding the most market share in Canada is Mullen Trucking Corp..
How competitive is the Local Freight Trucking industry in Canada?
The level of competition is high and steady in the Local Freight Trucking industry in Canada.
