Market Size of united states full-truck-load (ftl) Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 431.84 Billion |
|
|
Market Size (2030) | USD 534.86 Billion |
|
Largest Share by End User Industry | Manufacturing |
|
|
CAGR (2024 - 2030) | 3.63 % |
|
|
Fastest Growing by End User Industry | Manufacturing |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
US Full Truckload Road Freight Transport Market Analysis
The United States Full-Truck-Load (FTL) Market size is estimated at 431.84 billion USD in 2024, and is expected to reach 534.86 billion USD by 2030, growing at a CAGR of 3.63% during the forecast period (2024-2030).
431.84 Billion
Market Size in 2024 (USD)
534.86 Billion
Market Size in 2030 (USD)
2.82 %
CAGR (2017-2023)
3.63 %
CAGR (2024-2030)
Largest Market by Destination
70.57 %
value share, Domestic, 2023
Oil production has been one of the major factors contributing to the domestic segment's growth. Only four states accounted for about 80% of domestic oil production in 2022.
Largest Market by End User Industry
31.67 %
value share, Manufacturing, 2023
The adoption of Industry 4.0 technologies like artificial intelligence (AI), robotics, and automation, driving the growth of the end-user industry in the US.
Fastest Growing Market by End User Industry
4.23 %
Projected CAGR, Manufacturing, 2024-2030
The segment is expected to increase in the coming years, supported by the growth in automotive manufacturing. The US automotive aftermarket is expected to grow at a CAGR of 3.08% during 2022-2026.
Fastest Growing Market by Destination
3.72 %
Projected CAGR, International, 2024-2030
Cross-border road freight by FTL trucks significantly contributes to the market's growth. For instance, vehicles/parts worth USD 4.8 billion were transported by FTL trucks between the United States and Canada in December 2022.
First Leading Market Player
2.66 %
market share, C.H. Robinson, 2022
C.H. Robinson has one of the largest truckload networks in North America, with 85,000 active contract carriers and suppliers. The company collaborated with Waymo Via for the development of autonomous trucking.
US retail sector's 3.5% CAGR to reach USD 4.7 trillion by 2025 fueled by e-commerce
- Trucks are a versatile mode of transportation, capable of carrying a wide array of goods, from valuable commodities like electronics and mixed freight to bulk materials. In contrast, rail and water transportation modes are mainly utilized for bulk products, while air transport, including truck-air transport, is preferred for high-value items like electronics and pharmaceuticals. However, trucks surpassed all other modes in transporting a higher volume of high-value and time-sensitive commodities in 2022. In 2023, approximately 128,006 thousand tons of machinery and around 4,948 thousand tons of transportation equipment were transported through full truckload services.
- The construction industry in the US is witnessing robust growth and holds a vital position in the economy, Construction activities worth USD 463 million began in January 2022, which are expected to add 8.3 miles of elevated highway in Louisiana. The latest section, Phase 2 of the project, is expected to open in 2027. The spending on roads and highways infrastructure projects is anticipated to support market growth over the coming years.
- The wholesale and retail trade segment of the full truckload market is projected to grow in the coming years as the retail industry in the United States is expected to achieve a CAGR of 3.5% by 2025, reaching a value of USD 4,767 billion. The increasing demand for truck transportation, driven by e-commerce, is further intensifying the industry's challenges with vehicle capacity and truck driver availability. Walmart's initiative to recruit truckers for its private fleet by offering them double the median pay for shorter hauls exemplifies how the rise of e-commerce has transformed the trucking industry.
_Road_Freight_Transport_Market_By_End_User_Industry__USD__United_States__2017_-_2030.svg)
Understand The Key Trends Shaping This Market
