US Less than Truckload Road Freight Transport Market Size
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Study Period: | 2016 - 2028 |
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Largest Share by End User: | Wholesale and Retail Trade |
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Fastest Growing by End User: | Oil and Gas, Mining and Quarrying |
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CAGR: | 3.72 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
US Less than Truckload Road Freight Transport Market Analysis
The United States Less than Truckload Road Freight Transport Market is projected to register a CAGR of 3.72%
- Largest Segment by Destination - Domestic : The domestic segment dominated the international trucking segment in the United States less than truckload market as all freight tonnage moved throughout the United States has been gaining a faster momentum over the past few years.
- Largest Segment by End User - Wholesale and Retail Trade : The wholesale and retail trade sector, which has a market share of 11.9% and is the largest contributor to United States' GDP, makes up the majority of the road freight transport market in the country.
- Fastest Growing Segment by End User - Oil and Gas, Mining and Quarrying : The oil and gas, mining and quarrying segment is the fastest growing segment with the United States crude production expected to reach a record high of 13 million barrels per day (bpd) in 2023 as demand for exports grows.
- Fastest Growing Segment by Destination - Domestic : Driver shortages, restrictions on cross-border transportation during the pandemic, and stricter border controls all contributed to the domestic segment's faster percentage share growth throughout the historical period.
US Less than Truckload Road Freight Transport Industry Segmentation
Agriculture, Fishing And Forestry, Construction, Manufacturing, Oil And Gas, Mining And Quarrying, Wholesale And Retail Trade, Others are covered as segments by End User. Domestic, International are covered as segments by Destination.| End User | |
| Agriculture, Fishing And Forestry | |
| Construction | |
| Manufacturing | |
| Oil And Gas, Mining And Quarrying | |
| Wholesale And Retail Trade | |
| Others |
| Destination | |
| Domestic | |
| International |
US Less than Truckload Road Freight Transport Market Trends
This section covers the major market trends shaping the US Less than Truckload Road Freight Transport Market according to our research experts:
Wholesale and Retail Trade is the largest segment by End User.
- In 2020, despite the impact of the pandemic, the end-user segment of the less-than truckload market experienced a growth of 1.62% YoY in volumes due to its recovery from the impact of the recession. In 2020, the wholesale and retail trade segment had the maximum share of around 30.20% and reached 294.9 bn ton-km in volumes, followed by the manufacturing sector with a share of 27.30% and reached 266 bn ton-km in volumes.
- Similarly, in 2021, the end-user segment experienced a growth of 4.44% as the economy of the United States recovered from the first wave of COVID-19. In 2021 as well, the wholesale and retail trade segment had the maximum share, followed by the manufacturing sector. The contribution of the wholesale and retail trade sector to the US GDP experienced a growth of 13.20% YoY in value in 2021.
- During the forecast period, the manufacturing segment is expected to witness the highest CAGR of 6.36%, followed by the wholesale and retail trade segment with a CAGR of 3.95%. The manufacturing segment is expected to increase during the forecast period as the US manufacturing industry is expected to reach a revenue value of over USD 14.1 billion by 2030. Similarly, the wholesale and retail trade segment is expected to grow as the retail sales in the United States are projected to amount to USD 7.9 trillion by 2026, up from around USD 6.6 trillion in 2021.
To understand key trends, Download Sample Report
US Less than Truckload Road Freight Transport Industry Overview
The United States Less than Truckload Road Freight Transport Market is fragmented, with the top five companies occupying 26.63%. The major players in this market are C.H. Robinson, FedEx, United Parcel Service (UPS), XPO Logistics Inc. and Yellow Corporation (sorted alphabetically).
US Less than Truckload Road Freight Transport Market Leaders
C.H. Robinson
FedEx
United Parcel Service (UPS)
XPO Logistics Inc.
Yellow Corporation
*Disclaimer: Major Players sorted in no particular order
US Less than Truckload Road Freight Transport Market News
- May 2022: In September 2021, Fedex had collaborated with Aurora and Paccar to test autonomous linehaul technology. Following up on this collaboration, in May 2022, Aurora expanded autonomous freight pilot with FedEx in Texas.
- May 2022: Landstar System provides Landstar Clarity™, a new freight-tracking exception-management tool. With this tool, location data from trucks can be updated every 15 minutes and it also has many more features for problem-solving along the supply chain.
- April 2022: XPO Logistics has opened two new Less-Than-Truckload (LTL) terminals and expanded its Less-Than-Truckload (LTL) capacity in Southern California and Atlanta metro area.
US Less than Truckload Road Freight Transport Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
3.1. Study Assumptions & Market Definition
3.2. Scope of the Study
3.3. Research Methodology
4. KEY INDUSTRY TRENDS
4.1. GDP Distribution By Economic Activity
4.2. GDP Growth By Economic Activity
4.3. Wholesale Price Inflation
4.4. Economic Performance And Profile
4.5. Transport And Storage Sector GDP
4.6. Logistics Performance
4.7. Modal Share Of Freight Transport Sector
4.8. Length Of Roads
4.9. Export Trends
4.10. Import Trends
4.11. Fuel Pricing Trends
4.12. Trucking Operational Costs
4.13. Trucking Fleet Size By Type
4.14. Major Truck Suppliers
4.15. Road Freight Tonnage Trends
4.16. Road Freight Pricing Trends
4.17. Regulatory Framework
4.18. Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION
5.1. End User
5.1.1. Agriculture, Fishing And Forestry
5.1.2. Construction
5.1.3. Manufacturing
5.1.4. Oil And Gas, Mining And Quarrying
5.1.5. Wholesale And Retail Trade
5.1.6. Others
5.2. Destination
5.2.1. Domestic
5.2.2. International
6. COMPETITIVE LANDSCAPE
6.1. Key Strategic Moves
6.2. Market Share Analysis
6.3. Company Landscape
6.4. Company Profiles
6.4.1. C.H. Robinson
6.4.2. Deutsche Post DHL Group
6.4.3. FedEx
6.4.4. Knight-Swift Transportation
6.4.5. Landstar System Inc.
6.4.6. Schneider
6.4.7. United Parcel Service (UPS)
6.4.8. Werner Enterprises Inc.
6.4.9. XPO Logistics Inc.
6.4.10. Yellow Corporation
7. KEY STRATEGIC QUESTIONS FOR ROAD FREIGHT CEOS
8. APPENDIX
8.1. Global Logistics Market Overview
8.1.1. Overview
8.1.2. Porter’s Five Forces Framework
8.1.3. Global Value Chain Analysis
8.1.4. Market Dynamics (Market Drivers, Restraints & Opportunities)
8.2. Sources & References
8.3. List of Tables & Figures
8.4. Primary Insights
8.5. Data Pack
8.6. Glossary of Terms
8.7. Currency Exchange Rate
List of Tables & Figures
Figure 1:
DISTRIBUTION OF GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY, UNITED STATES, SHARE %, 2021
Figure 2:
GROWTH OF GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY, UNITED STATES, CAGR %, 2016 – 2021
Figure 3:
WHOLESALE PRICE INFLATION RATE, UNITED STATES, PERCENTAGE (%), 2016 – 2021
Figure 4:
TRENDS IN E-COMMERCE INDUSTRY, UNITED STATES, VALUE, USD, 2016 – 2021
Figure 5:
TRENDS IN E-COMMERCE INDUSTRY BY SECTOR, UNITED STATES, SHARE %, 2021
Figure 6:
TRENDS IN MANUFACTURING INDUSTRY, UNITED STATES, VALUE, USD, 2016 – 2021
Figure 7:
TRENDS IN MANUFACTURING INDUSTRY BY SECTOR, UNITED STATES, SHARE %, 2021
Figure 8:
TRANSPORT AND STORAGE SECTOR GROSS DOMESTIC PRODUCT, UNITED STATES, VALUE, USD, 2016 – 2021
Figure 9:
TRANSPORT AND STORAGE SECTOR GROSS DOMESTIC PRODUCT, UNITED STATES, SHARE %, 2016 – 2021
Figure 10:
LOGISTICS PERFORMANCE, UNITED STATES, RANK, 2010 – 2018
Figure 11:
MODAL SHARE OF FREIGHT TRANSPORT SECTOR, UNITED STATES, SHARE %, BY VOLUME (TONS), SHARE%, 2021
Figure 12:
LENGTH OF ROADS BY TYPE OF SURFACE, UNITED STATES, SHARE %, 2021
Figure 13:
LENGTH OF ROADS BY TYPE OF ROAD, UNITED STATES, SHARE %, 2021
Figure 14:
VALUE OF EXPORTS, UNITED STATES, USD, 2016-2021
Figure 15:
VALUE OF IMPORTS, UNITED STATES, USD, 2016-2021
Figure 16:
FUEL PRICE BY TYPE OF FUEL, UNITED STATES, USD PER LITRE, 2016-2021
Figure 17:
TRUCKING OPERATIONAL COSTS, UNITED STATES, SHARE %, 2021
Figure 18:
TRUCKING FLEET SIZE BY TYPE, UNITED STATES, SHARE %, 2021
Figure 19:
MAJOR TRUCK SUPPLIER BRANDS, UNITED STATES, SHARE %, 2021
Figure 20:
ROAD FREIGHT TRANSPORT LOAD PICKED, UNITED STATES, TONS, 2016-2028
Figure 21:
ROAD FREIGHT TRANSPORT RATES, UNITED STATES, USD/TON-KM, 2016-2021
Figure 22:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, VOLUME, TON-KM, 2016 - 2028
Figure 23:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, VALUE, USD, 2016 - 2028
Figure 24:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, BY END USER, VOLUME, TON-KM, 2016 - 2028
Figure 25:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, BY END USER, VALUE, USD, 2016 - 2028
Figure 26:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, SHARE(%), VALUE, BY END USER, 2016 - 2028
Figure 27:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, AGRICULTURE, FISHING AND FORESTRY, VOLUME, TON-KM, 2016 - 2028
Figure 28:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, AGRICULTURE, FISHING AND FORESTRY, VALUE, USD, 2016 - 2028
Figure 29:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, CONSTRUCTION, VOLUME, TON-KM, 2016 - 2028
Figure 30:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, CONSTRUCTION, VALUE, USD, 2016 - 2028
Figure 31:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, MANUFACTURING, VOLUME, TON-KM, 2016 - 2028
Figure 32:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, MANUFACTURING, VALUE, USD, 2016 - 2028
Figure 33:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, OIL AND GAS, MINING AND QUARRYING, VOLUME, TON-KM, 2016 - 2028
Figure 34:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, OIL AND GAS, MINING AND QUARRYING, VALUE, USD, 2016 - 2028
Figure 35:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, WHOLESALE AND RETAIL TRADE, VOLUME, TON-KM, 2016 - 2028
Figure 36:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, WHOLESALE AND RETAIL TRADE, VALUE, USD, 2016 - 2028
Figure 37:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, OTHERS, VOLUME, TON-KM, 2016 - 2028
Figure 38:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, OTHERS, VALUE, USD, 2016 - 2028
Figure 39:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, BY DESTINATION, VOLUME, TON-KM, 2016 - 2028
Figure 40:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, BY DESTINATION, VALUE, USD, 2016 - 2028
Figure 41:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, SHARE(%), VALUE, BY DESTINATION, 2016 - 2028
Figure 42:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, DOMESTIC, VOLUME, TON-KM, 2016 - 2028
Figure 43:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, DOMESTIC, VALUE, USD, 2016 - 2028
Figure 44:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, INTERNATIONAL, VOLUME, TON-KM, 2016 - 2028
Figure 45:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, INTERNATIONAL, VALUE, USD, 2016 - 2028
Figure 46:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
Figure 47:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
Figure 48:
UNITED STATES LESS THAN TRUCKLOAD ROAD FREIGHT TRANSPORT MARKET SHARE(%), BY MAJOR PLAYERS, 2021
Market Definition
- Vehicle Types - Passenger Vehicles, Commercial Vehicles and Motorcycles are the vehicle types considered under the automotive lubricants market.
- Product Types - For the purpose of this study, lubricant products such as engine oils, transmission oils, greases and hydraulic fluids are taken into consideration.
- Service Refill - Service refill is the primary factor considered while accounting the lubricant consumption for each of the vehicle segments, under the study.
- Factory Fill - First lubricant fill-ups for newly produced vehicles are considered.
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
