FTL AND LTL SHIPPING SERVICES MARKET ANALYSIS

FTL and LTL Shipping Services Market, By Service Type (Less-than Truckload (LTL) Services, Full Truck Load (FTL) Services), By Truck Type (Dry Van Truck (Non-perishable Food & Beverages, Clothing Items, Plastic & Building Products), Flatbed Truck/Heavy Loads, Refrigerated Truck (Chilled Fruits & Vegetables, Seafood)), By Shippers Type (Multiple Shipper, Single Shipper), By Application Type (Industrial & Manufacturing, Energy & Mining, Food & Beverages, Oil & Gas, Pharmaceuticals & Healthcare, Others), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : May 2023
Code : CMI4748
Pages :150
Formats :
Excel and PDF
Industry : Automotive and Transportation

FTL and LTL Shipping Services MarketSize and Trends

The Global FTL and LTL Shipping Services Market size was valued at US$ 15.47 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.10 % from 2023 to 2030. FTL (Full Truckload) and LTL (Less than Truckload) shipping services are two of the most common methods of freight transportation. FTL shipping is used when a shipper has enough freight to fill an entire truckload, while LTL shipping is used when a shipper has a smaller amount of freight that does not require a full truckload.

Figure 1: Global FTL and LTL Shipping Services Market Share (%), By Region, 2022

Global FTL and LTL Shipping Services Market Trends:

E-commerce Growth:

The e-commerce industry has experienced tremendous growth in recent years, and as a result, the demand for shipping services has also increased significantly are services commonly used in the e-commerce industry are FTL (Full Truckload) and LTL (Less Than Truckload) shipping services. FTL shipping services are used when a shipment requires an entire truck to be transported. This service is typically used for large and heavy items that cannot be shipped via traditional parcel services. On the other hand, LTL shipping services are used when a shipment does not require an entire truck and can be combined with other shipments to fill up the truck.