FTL AND LTL SHIPPING SERVICES MARKET ANALYSIS

Regional Analysis

Global FTL and LTL Shipping Services Market: Regional Insights

North America is expected to witness significant growth over the forecast period, owing to a rise in the adoption of commodities such as agriculture, food and services.

The U.S. freight and logistics sector has coped up well during the period of the pandemic. In December 2020, The international leader in freight management and contract logistics is CEVA Logistics, which has its headquarters in Switzerland. In order to offer customers a "all-inclusive" LTL service with the same lead time as FTL, CEVA Logistics has introduced a new quick LTL (Less than Truckload) service outbound from China that drastically cuts down on the current wait times. This unique, totally owned service was developed by CEVA Logistics to satisfy the demands of its clients. The new programme is available on Tuesday/Thursday and Saturday, depending on demand, two to three times per week. Shipments of DG Class 9 Li-Battery will also be allowed on Saturday. The drivers on this service have undergone specialised training and possess all required Dangerous Goods licences for secure International Road Transport (TIR) transport. The commodities include agriculture & food, light machinery, electronics, wood, textiles, services, coal and oil & gas. Because of the commodity-mix profiles of less-than-truckload (LTL) and full-truckload (FTL) shipping, LTL and FTL both are likely to recover faster than other modes such as air cargo and rail modes in most scenarios. Commodity mix profiles of less-than-truckload (LTL) and full-truckload (FTL) shipping is the transportation of similar commodities such as agriculture, food and services. Both modes of transportation represent a greater proportion of fast-to-return agriculture, food, and services and benefit from e-commerce growth. FTL's freight mix also includes a significant portion (16%) of quick-to-return basic commodities. Moreover, North America is expected to drive market growth, owing to an increasing number of mergers and acquisitions. For instance, in 23 March 2023, (The Expresswire) "FTL and LTL Shipping Services Market" report details how the technology sector is changing and how well-established and up-and-coming firms are coping with both long-term opportunities and short-term difficulties. The FTL and LTL Shipping Services Industry's growth rate is one of its main draws.

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa