Global Less than Truckload Shipping Market Overview:
Less than truckload shipping (LTL) is basically the transportation of freight that does not require an entire trailer. That is a smaller amount of freight volume is transported under LTL than a standard truck carries on its full capacity. Under this system, customers are required to pay only for the area or space occupied by their goods and not for the entire trailer. Smaller and Medium businesses usually prefer this type of mechanism for the transportation of their goods. Some of the players profiled in the study are DHL International GmbH (Germany), FedEx Corporation (United States), XPO Logistics (United States), Nagel International AG (Germany), United Parcel Service (United States), YRC Worldwide Inc. (United States), Old Dominion Freight Line, Inc. (United States), R+L Carriers (United States) and Southeastern Freight Lines (United States).
On the basis of geography, the market of Less than Truckload Shipping has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vehicle, the sub-segment i.e. Rail will boost the Less than Truckload Shipping market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Shipment, the sub-segment i.e. Pallet will boost the Less than Truckload Shipping market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Industrial Goods will boost the Less than Truckload Shipping market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Rising E-Commerce Market which has Enhanced the Use of Logistics Network
- Increasing Demand in Regional as well as International Trade
- Improving Road Infrastructure and Increased FTA Agreements Among Neighbouring Countries
- Automation and Use of Blockchain Technology in Logistics
- Lockdowns are a Major Restraint to Movement of Freight Transporters
- Increasing Trade Barriers Results in Decrease of Overall Trade
- Increasing Number of Small and Medium Businesses, Start-Ups Look at Saving Transportation Costs to Provide Cheaper Products
- LDL can widely explore the Use of Application Programming Interface (API) and Electronic Data Interchange (EDI)
- Longer Delivery Time than Normal Direct Delivery
- Loose Handling of Goods, thus Goods May Face More Breakage Under LTL than Under Normal Transportation
Key Market Developments:
In 2021, XPO Logistics, a leading American logistics company operating in more than 30 countries has announced the completion of the acquisition of Kuehne + Nagel International AG’s contract logistics operations in the United Kingdom and Ireland. With the completion of this deal, XPO logistics look at increasing its footprints in UK and Ireland.
In 2021, DHL International GmbH has expanded its presence in the global Covid-19 Vaccine supply chain. To meet the global demand for fast and safe delivery of Covid vaccines, DHL has invested in its pharmaceutical supply chain capabilities which include deep freezers and experts to manage complex freight such as vaccines.
LTL Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, End-Use Industries and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Less than Truckload Shipping market on the basis of product  , application [Domestic Shipping and International Shipping], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Less than Truckload Shipping market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Less than Truckload Shipping industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are ABF Freight System (United States), Estes Express Lines (United States) and Saia (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Less than Truckload Shipping market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.