General Freight Trucking (Less Than Truckload) in the US - Market Research Report

Trucking along: As inflation and recessionary fears pressure manufacturers to produce and ship less, industry growth will likely slow significantly

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The General Freight Trucking (Less Than Truckload) industry comprises operators 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 together that do not individually fill up the truckload of a trailer rather than 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. Moreover, 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. Overall, industry revenue has been increasing at a CAGR of 2.6% over the past five years, and is expected to reach $224.8 billion in 2023, despite a revenue loss of 1.9% in that year as a recession looms. 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).