$91.4bn
$X.Xbn
419k
114k
$XX.Xbn
The General Freight Trucking (Less Than Truckload) industry comprises trucking companies that provide less-than-truckload transportation of palletized commodities, primarily over long distances. Less-than-truckload (LTL) transportation involves a collection of separate loads combined that do not individually fill up the truckload of a trailer instead of a single full load (classified as truckload shipping). This industry predominantly grows in line with the United States economy as a whole, with industry performance determined by the levels of consumer spending, manufacturing output and trade. Both revenue and profitability are heavily influenced by the price of diesel, as truckers typically respond to increases in fuel costs by implementing fuel surcharges. General Freight Trucking (Less Than Truckload) industry revenue has been expanding at a CAGR of 3.6% over the past five years and is expected to total $94.5 billion in 2024, when revenue will jump by an estimated 1.2%. Profit dropped over the past five years amid higher purchase costs.
Industry revenue has grown at a CAGR of 3.6 % over the past five years, to reach an estimated $91.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Xpo Logistics, Inc. | 1,633.6 | 149.3 | 9.1 | |
FedEx Corporation | 1,117.7 | 101.0 | 9.0 |
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Industry revenue is measured across several distinct product and services lines, including Van, Flatbed and Reefer. Van is the largest segment of the General Freight Trucking (Less Than Truckload) in the US.
Flatbed trucks move oversized, oddly shaped goods for higher prices
This industry provides freight less-than-truckload (LTL) trucking. These general freight truckload carrier establishments provide full-truck movement of freight from origin to destination. The shipment of freight on a truck is characterized as loads combined with other shipments, as opposed to full loads. As to not repeat NAICS information, all local trucking (<100 miles) is located in report 48412, regardless of truck load capacity (truckload or less-than-load).
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NAICS 48412 - General Freight Trucking (Less Than Truckload) in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Increased trade activity has elevated demand for truck transport. Despite this growth, fuel price volatility and higher interest rates have suppressed growth momentum in the ...
Learn about an industry's products and services, markets and trends in international trade.
Less-than-truckload companies attempt to use smaller vehicles whenever possible to save on fuel and the loading challenges of larger vehicles. However, these vehicles also re...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Trucks run throughout the United States, proportional to the share of businesses. Urban regions tend to desire more less-than-load trucks, especially the small companies loca...
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.
Competition in the trucking industry hinges heavily on the reliability, speed of service and price. Small truckers and larger companies vie on the same level, each striving t...
Learn about the performance of the top companies in the industry.
Less-than-load (LTL) trucking companies are far more significant than truckload companies in absolute terms. However, both types of companies exhibit similar market power rel...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The operating variance between truckload (TL) and less-than-truckload (LTL) shipping is minimal. TL carriers benefit from lower capital intensity, but LTL shippers can more e...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The highest cost is a trucker’s rig (cab and trailer), particularly for many owner-operator truckers. Fuel and reparation expenses are also relatively large compared with wag...
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the General Freight Trucking (Less Than Truckload) in the US industry in United States is $91.4bn in 2024.
There are 114k businesses in the General Freight Trucking (Less Than Truckload) in the US industry in United States, which has grown at a CAGR of 8.8 % between 2019 and 2024.
The market size of the General Freight Trucking (Less Than Truckload) in the US industry in United States has been growing at a CAGR of 3.6 % between 2019 and 2024.
Over the next five years, the General Freight Trucking (Less Than Truckload) in the US industry in United States is expected to grow.
The biggest companies operating in the General Freight Trucking (Less Than Truckload) market in United States are Xpo Logistics, Inc. and FedEx Corporation
Van and Flatbed are part of the General Freight Trucking (Less Than Truckload) in the US industry.
The company holding the most market share in United States is Xpo Logistics, Inc..
The level of competition is high and increasing in the General Freight Trucking (Less Than Truckload) in the US industry in United States.