While the trucking industry often focuses on big rigs and full loads, the real economic engine humming beneath the surface is Less-Than-Truckload (LTL), a $92.5 billion U.S. market that is not only colossal but also evolving faster than ever thanks to e-commerce and technology.
Key Takeaways
- The U.S. LTL market size reached $92.5 billion in 2023
- Global LTL freight market projected to grow at 5.2% CAGR from 2024-2030
- U.S. LTL shipments totaled 12.4 billion in 2022
- U.S. LTL capacity utilization averaged 85% in 2023
- Average LTL shipment weight 1,200 lbs in U.S. 2023
- LTL lane volume top route I-95 corridor 15% of total U.S.
- National LTL spot market volume 8% total 2023 U.S.
- U.S. LTL national average linehaul rate $2.10 per mile Q4 2023
- LTL rate increase 9.5% YoY in 2023 U.S.
- Old Dominion Freight Line market share 8% U.S. LTL 2023
- XPO Logistics LTL revenue $4.8 billion 2023
- Estes Express Lines 4th largest U.S. LTL carrier by revenue 2023
- LTL Technologies adoption TMS 85% top carriers 2023
- AI route optimization in LTL forecast 30% efficiency gain by 2028
- Sustainability goals 50% LTL carriers net-zero by 2050
The LTL industry is growing strongly, led by e-commerce and steady rate increases.
Major Players
- Old Dominion Freight Line market share 8% U.S. LTL 2023
- XPO Logistics LTL revenue $4.8 billion 2023
- Estes Express Lines 4th largest U.S. LTL carrier by revenue 2023
- Saia Inc. revenue growth 18% YoY to $2.8 billion 2023
- ABF Freight (ArcBest) 6% market share U.S. LTL 2023
- Old Dominion ORTEC score 92/100 operational excellence 2023
- YRC Freight (Yellow Corp) ceased operations Aug 2023
- R+L Carriers revenue $2.1 billion est. 2023
- Southeastern Freight Lines regional leader 2% national share 2023
- TForce Freight (UPS) LTL revenue $2.5 billion 2023
- FedEx Freight market share 7.5% U.S. LTL 2023
- Old Dominion terminals 260 nationwide 2023
- XPO LTL shipment volume 2.1 million weekly avg 2023
- Saia expansion 22 new terminals 2023
- Estes employee count 22,000 in 2023
- ArcBest ABF on-time delivery 98% 2023
- Old Dominion operating ratio 74.5% best-in-class 2023
- R+L Carriers safety rating satisfactory FMCSA 2023
- Pitt Ohio LTL regional revenue $1.2 billion 2023
- New Penn (LTL) integrated into TForce 2023
- Central Transport 1.5% market share Northeast 2023
- Day & Ross LTL Canada leader 25% share 2023
- Old Dominion stock up 45% YTD 2023
- XPO spin-off GXO non-asset focus post-LTL 2023
- Saia service center count 195 end 2023
- ABF Freight damage claims <1% shipments 2023
- Averitt Express revenue $1.8 billion est. LTL 2023
Major Players Interpretation
While Old Dominion reigns supreme by profitably perfecting the premium lane with an ironclad 74.5% operating ratio, the post-Yellow landscape sees aggressive challengers like Saia and XPO expanding their footprints and revenues, proving that in the brutal LTL arena, you either run flawlessly or you run out of road.
Market Size & Growth
- The U.S. LTL market size reached $92.5 billion in 2023
- Global LTL freight market projected to grow at 5.2% CAGR from 2024-2030
- U.S. LTL shipments totaled 12.4 billion in 2022
- LTL market share of U.S. for-hire trucking was 15% in 2023
- North American LTL revenue grew 8.7% YoY in Q4 2023
- European LTL market valued at €45 billion in 2023
- Asia-Pacific LTL market expected to reach $50 billion by 2028
- U.S. LTL tonnage handled 11.2 billion tons in 2023
- LTL segment accounted for 42% of U.S. truckload market volume in 2022
- Brazilian LTL market grew 12% in 2023
- U.S. LTL market CAGR 6.1% from 2018-2023
- Canadian LTL revenue hit CAD 15 billion in 2023
- LTL market in Mexico valued at $8.5 billion USD in 2023
- U.S. LTL e-commerce driven growth at 10% annually since 2020
- Global LTL market size $150 billion in 2023
- U.S. LTL market share by truckload 18% in 2023
- LTL revenue per shipment averaged $250 in U.S. 2023
- Projected U.S. LTL market $120 billion by 2028
- LTL growth outpaced FTL by 3% in 2023 U.S.
- U.S. LTL market contraction -2.5% in Q1 2023
- Indian LTL market $12 billion in 2023
- U.S. LTL pallets shipped 2.5 billion in 2023
- LTL market recovery 15% growth Q4 2023 U.S.
- Australian LTL market AUD 5 billion 2023
- U.S. LTL manufacturing sector 35% of volume 2023
- Global LTL digital platforms 20% market penetration 2023
- U.S. LTL cross-border Mexico 10% growth 2023
- LTL market in UK £4.5 billion 2023
- U.S. LTL healthcare shipments up 8% 2023
- Projected global LTL $200 billion by 2030
Market Size & Growth Interpretation
While its pockets are deep and its growth is steady, the global LTL industry is clearly executing a masterful pivot, proving its resilience by thriving on e-commerce and specialization even after taking a few short-term punches.
Rates & Pricing
- National LTL spot market volume 8% total 2023 U.S.
- U.S. LTL national average linehaul rate $2.10 per mile Q4 2023
- LTL rate increase 9.5% YoY in 2023 U.S.
- Average LTL shipment cost $180 U.S. 2023
- Fuel surcharge avg 25% of LTL base rate 2023
- LTL contract rates up 7% in 2023 negotiations U.S.
- Regional LTL rates $1.85/mile avg Northeast 2023
- LTL minimum charge avg $75 per shipment U.S. 2023
- Accessorial charges 15% of total LTL billing 2023
- LTL density-based pricing adoption 60% carriers 2023
- U.S. LTL rate per hundredweight $25 avg 2023
- Liftgate fee avg $50 in LTL U.S. 2023
- LTL residential delivery premium 20% over commercial 2023
- Hazardous LTL surcharge avg 30% U.S. 2023
- LTL rate decline -1.2% Q1 2024 from 2023 peak
- Inside delivery fee $100 avg LTL 2023 U.S.
- LTL pallet rates $0.50 per lb avg 2023
- Fuel impact on LTL rates 40% cost variance 2023
- LTL expedited service premium 50% over standard 2023
- White glove LTL fee avg $200 U.S. 2023
- LTL rate benchmarking tool usage 70% shippers 2023
- Avg LTL negotiation savings 10% for shippers 2023
- LTL over-dimension fee $1.50/cu ft excess 2023
- Spot LTL rates 15% above contract avg 2023 peak
- LTL insurance cost $0.75 per $100 value 2023
- Reweigh fee avg $25 LTL U.S. 2023
- LTL rate per mile Southeast $1.95 avg 2023
- Sorting/seg fee $2 per carton LTL 2023
- LTL e-auction rate savings 8% avg 2023
Rates & Pricing Interpretation
While the national LTL spot market remained a modest 8% of total volume in 2023, shippers navigated a landscape of relentless rate increases—from a 9.5% YoY linehaul hike to various accessorial fees—where savvy negotiation and benchmarking tools became essential armor against costs that, for now, show only a slight 1.2% retreat from their peak.
Trends & Forecasts
- LTL Technologies adoption TMS 85% top carriers 2023
- AI route optimization in LTL forecast 30% efficiency gain by 2028
- Sustainability goals 50% LTL carriers net-zero by 2050
- E-commerce LTL volume to 30% total by 2027 U.S.
- Autonomous trucks LTL trials 5% fleets by 2025
- Blockchain tracking LTL pilots 20% major carriers 2024
- Nearshoring boost Mexico LTL 15% growth forecast 2024-2028
- Electric LTL vehicles 10% fleet by 2030 projection
- Digital freight platforms LTL marketplace 25% volume by 2027
- LTL consolidation wave 10 mergers expected 2024-2026
- Customer portals usage 90% LTL shippers by 2025
- 3PL LTL management 40% market by 2028
- IoT sensors LTL trailers 35% adoption by 2027
- Capacity sharing platforms LTL 15% spot market 2025
- Predictive analytics LTL claims reduction 25% forecast
- Drone last-mile LTL hybrid 5% urban by 2030
- LTL workforce shortage 20% drivers by 2026 projection
- Carbon tracking mandatory EU LTL 100% by 2025
- Robotic sorting LTL hubs 40% top carriers 2028
- Multi-modal LTL integration 25% volume growth 2024-2030
- Voice picking tech LTL warehouses 30% by 2027
- LTL rate stabilization forecast flat 2024 U.S.
- Gig economy drivers LTL 10% by 2028 pilot programs
- AR glasses LTL dock workers 15% adoption 2027
- Reshoring U.S. manufacturing LTL demand +12% 2025
- Quantum computing LTL optimization trials 2028
- LTL micro-fulfillment centers 20% urban growth by 2030
Trends & Forecasts Interpretation
The LTL industry, fueled by AI and consolidation, is hurtling toward a green, data-driven future while desperately grappling with driver shortages and the relentless pressure of e-commerce.
Volume & Capacity
- U.S. LTL capacity utilization averaged 85% in 2023
- Average LTL shipment weight 1,200 lbs in U.S. 2023
- LTL lane volume top route I-95 corridor 15% of total U.S.
- U.S. LTL weekly tender volume 1.2 million in Q4 2023
- Peak season LTL volume surge 25% Nov-Dec 2023
- LTL freight density average 10 lbs/cu ft U.S. 2023
- U.S. LTL network miles covered 500 million annually
- LTL terminals in U.S. totaled 1,800 in 2023
- Average LTL transit time 2.5 days national U.S. average 2023
- LTL volume Midwest region 28% U.S. total 2023
- U.S. LTL empty miles 12% of total miles 2023
- LTL shipment count per terminal avg 5,000 weekly 2023
- Regional LTL volume grew 5% YoY 2023 U.S.
- LTL hazardous materials 4% of total volume U.S. 2023
- U.S. LTL intermodal connections 10% volume 2023
- Average LTL load factor 75% in 2023 U.S.
- LTL volume retail sector 22% U.S. 2023
- U.S. LTL peak capacity strain 95% utilization Dec 2023
- LTL cubic volume growth 7% YoY 2023
- Southeast U.S. LTL lanes 20% national volume 2023
- LTL reefer volume 3% total U.S. 2023
- U.S. LTL daily shipments avg 50,000 per major carrier 2023
- West Coast LTL port-related volume 15% regional 2023
- LTL consolidation ratio avg 5:1 shipments U.S. 2023
- U.S. LTL autos parts volume up 6% 2023
- National LTL highway miles 1.2 billion annually 2023
- LTL e-comm parcel integration 12% volume 2023
- U.S. LTL construction materials 18% volume 2023
- Avg LTL route optimization savings 15% capacity 2023
- LTL national account volume 40% major carriers 2023
- U.S. LTL average linehaul distance 650 miles 2023
Volume & Capacity Interpretation
The U.S. LTL network, running at a steamy 85% capacity, is a finely balanced beast where the Midwest moves 28% of its freight, terminal managers juggle 5,000 weekly shipments like air traffic controllers, and everyone holds their breath during the peak season when 25% more volume pushes utilization to a nerve-wracking 95%, proving this industry is the unsung, over-caffeinated backbone of the American economy.
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