Industry Background:
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.This growth is primarily driven by Rising E-Commerce Market which has Enhanced the Use of Logistics Network
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Air Freight & Logistics sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
Influencing Trend:
Automation and Use of Blockchain Technology in Logistics
Market Growth Drivers:
Rising E-Commerce Market which has Enhanced the Use of Logistics Network, Increasing Demand in Regional as well as International Trade and Improving Road Infrastructure and Increased FTA Agreements Among Neighbouring Countries
Challenges:
Longer Delivery Time than Normal Direct Delivery and Loose Handling of Goods, thus Goods May Face More Breakage Under LTL than Under Normal Transportation
Restraints:
Lockdowns are a Major Restraint to Movement of Freight Transporters and Increasing Trade Barriers Results in Decrease of Overall Trade
Opportunities:
Increasing Number of Small and Medium Businesses, Start-Ups Look at Saving Transportation Costs to Provide Cheaper Products and LDL can widely explore the Use of Application Programming Interface (API) and Electronic Data Interchange (EDI)
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Less than Truckload Shipping Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Less than Truckload Shipping Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Less than Truckload Shipping players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Less than Truckload Shipping Study Sheds Light on
The Less than Truckload Shipping Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Less than Truckload Shipping industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Less than Truckload Shipping industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.