Latest News- Less-Than-Truckload (LTL) Market: Long-haul carriers is expected to lead the Type segment during 2025-2029
The Less-Than-Truckload (LTL) Market is being driven by Advances in e-commerce in retail sector
The Less-Than-Truckload (LTL) Market is expected to grow at a CAGR of 6.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 110.7 billion. In the Less-Than-Truckload (LTL) market, logistics companies and shippers are leveraging big data to transform voluminous data into a competitive edge. Big data analytics offers advantages such as customized services, identifying market trends, and agility for new business models. However, the European logistics industry faces significant IT disparities, hindering the full implementation of big data applications. In the LTL logistics sector, big data can deliver a distinct competitive advantage through operational efficiency, enhanced customer experience, and innovative business models. By optimizing core activities like resource allocation, delivery time, and geographical coverage, LTL companies can improve overall performance and gain a competitive edge in the market.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Long-haul carriers, Superregional carriers, Regional carriers) Capacity (Light LTL volume, Heavy LTL volume) Geography (APAC, North America, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Less-Than-Truckload (LTL) Market Research Report
Find out which segment is leading the market by accessing the free PDF report
The Less-Than-Truckload (LTL) market encompasses various industries such as Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, and Retail. Freight volumes in these sectors, including E-commerce, are driving the demand for road freight services in the logistics sector. Freight pricing trends are influenced by factors like MSME sector needs, scalability, and affordability. Full Truckload shipments are distinguished from LTL by cargo volume, with LTL freight carriers offering flexibility in trailer capacity for shippers dealing with smaller cargo loads. Crude oil and passenger traffic are also significant contributors to freight transportation. The oil and gas, mining, and quarrying industries, in particular, require freight services for cargo transportation. Freight carriers must adapt to the evolving market by offering competitive pricing and flexible solutions to meet the diverse needs of their clients.
In the rail transportation industry, Less-Than-Truckload (LTL) market specialists cater to the logistics needs of various sectors, including Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas. They provide rail freight services for both goods and passengers over long distances. The offerings encompass various rail transportation modes such as tank wagons, goods wagons/freight cars, boxcars or covered wagons, flatcars or flat wagons, well wagons/low-loader wagons, refrigerator vans, hopper wagons, open wagons, wagons with an opening roof, wagons for containers, high-speed trains, regional and commuter trains, cross-border rail transportation services, metro and trams, light rail vehicles (LRVs), and monorails. This market is characterized by a fragmented supply chain with multiple layers, including asset management, operations, marketing and sales, and service.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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