FTL and LTL Shipping Services Market, by Service Type (Less-than Truckload (LTL) Services and Full Truck Load (FTL) Services), by Truck Type, (Dry Van Truck (Non-perishable Food & Beverages, Clothing Items Plastic & Building Products), Flatbed Truck/Heavy

FTL and LTL Shipping Services Market, by Service Type (Less-than Truckload (LTL) Services and Full Truck Load (FTL) Services), by Truck Type, (Dry Van Truck (Non-perishable Food & Beverages, Clothing Items Plastic & Building Products), Flatbed Truck/Heavy Loads, and Refrigerated Truck (Chilled Fruits & Vegetables and Seafood)), by Shippers Type, (Multiple Shipper and Single Shipper), by Application Type, (Industrial & Manufacturing, Energy & Mining, Food & Beverages, Oil & Gas, Pharmaceuticals & Healthcare, and Others), and by Region (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Full truck load (FTL) mode refers to a particular freight being shipped from the origin to the destination without halting points, involving operations with low fixed costs and maximum vehicle utilization capacity, as the transportation is programmed to meet a particular demand. As the freight is consolidated along a route distributed in different geographical points but within the same zone, the freight cost in the less than truckload (LTL) mode is generally less than the cost in the FTL mode. As a result, the time between origin and destination is longer in LTL because the truck stops at distribution centers for loading and unloading to consolidate the freight. The LTL mode is typically used to transport small quantities, while the FTL mode is used to transport large quantities over long distances.
Market Dynamics
The increasing demand and supply of transportation services in is expected to propel the market during the forecast period 2022-2028.
The market dynamics in the shipping market can be attributed to a variety of factors. On the demand side, the U.S. economy is expanding, and recent corporate tax reform efforts are likely to encourage companies to invest. The supply-side is also expanding such as the ELD (electronic logging device) limits the number of hours that drivers can work, complicating the industry's driver shortage. Furthermore, with increasing customer demand to expand their fleets, truck manufacturers are facing supply constraints upstream. The growth of ecommerce, combined with customer expectations for order fulfilment in a timely manner, has magnified the impact of these ongoing supply-side issues. According to CMI, a survey of executives from 17 large shippers with extensive FTL experience to get their perspectives on current rate issues, in 2018, all respondents said their contracted rates, which is the interest rate quoted on basis of contract and spot rates, the interest rate quoted for immediate settlement either increased or remained the same, with 65% indicating transportation services rates increased by 5 to 15%. The vast majority of respondents expect contract and spot rates to rise, stating capacity and driver shortages as major reasons.

Market Taxonomy
This report segments the global FTL and LTL shipping services market on the basis of service type, truck type, shipper type, application type, and region. On the basis of service type, FTL and LTL shipping services market is segmented into less-than truckload (LTL) and full truck load (FTL). By truck type, the market is segmented into dry van truck, flatbed truck/heavy loads, and refrigerated truck. On the basis of shippers type, the market is segmented into multiple shipper and single shipper. On the basis of application type, the market is segmented into industrial & manufacturing, energy & mining, food & beverages, oil & gas, pharmaceuticals & healthcare, and others. Based on region, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Key features of the study:
This study provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
Key players operating in the truck transportation market include YRC Freight, XPO Logistics, Old Dominion, UPS Freight, Estes Express Lines, ABF Freight, R+L Carriers, Saia Motor Freight Line, Southeastern Freight Lines, Holland Regional, J.B. Hunt, Schneider, Swift Transportation, and Werner Enterprises.
These leading market players focus on collaboration strategies with other industry leaders in order to innovate and develop new items to fulfil consumers' growing needs and demands
Marketers and company executives would be able to make informed decisions about future product releases, technology upgrades, market expansion, and marketing methods based on the findings of this research

New System Launch-
In December 2020, CEVA Logistics, based in Switzerland, is an international logistics and supply chain leading provider in freight management and contract logistics. CEVA Logistics' new rapid LTL (Less than Truckload) service outbound from China significantly reduces existing lead times and is intended to provide customers with ‘all-inclusive’ LTL service with the same lead time as FTL. CEVA Logistics created this one-of-a-kind wholly owned service to meet the needs of its customers. The new program is accessible for two to three times per week (depending on demand) on Tuesday/Thursday and Saturday. Li-Battery shipments will also be accepted on Saturday (DG Class 9 Li-Battery). Drivers on this service have received special training and hold all necessary Dangerous Goods licenses for safe Transports Internationaux Routiers (TIR) transport.
Detailed Segmentation
Global FTL and LTL Shipping Services Market, By Service Type:
Less-than Truckload (LTL) Services
Full Truck Load (FTL) Services
Global FTL and LTL Shipping Services Market, By Truck Type:
Dry Van Truck
Non-perishable Food & Beverages
Clothing Items
Plastic & Building Products
Flatbed Truck/Heavy Loads
Refrigerated Truck
Chilled Fruits & Vegetables
Seafood
Global FTL and LTL Shipping Services Market, By Shippers Type:
Multiple Shipper
Single Shipper
Global FTL and LTL Shipping Services Market, By Application Type:
Industrial & Manufacturing
Energy & Mining
Food & Beverages
Oil & Gas
Pharmaceuticals & Healthcare
Others
Global FTL and LTL Shipping Services Market, By Region:
North America
On the Basis of Service Type:
Less-than Truckload (LTL) Services
Full Truck Load (FTL) Services

On the Basis of Truck Type:
Dry Van Truck
Non-perishable Food & Beverages
Clothing Items
Plastic & Building Products
Flatbed Truck/Heavy Loads
Refrigerated Truck
Chilled Fruits & Vegetables
Seafood
On the Basis of Shippers Type:
Multiple Shipper
Single Shipper
On the Basis of Application Type:
Industrial & Manufacturing
Energy & Mining
Food & Beverages
Oil & Gas
Pharmaceuticals & Healthcare
Others
By Country:
U.S.
Canada
Europe
On the Basis of Service Type:
Less-than Truckload (LTL) Services
Full Truck Load (FTL) Services
On the Basis of Truck Type:
Dry Van Truck
Non-perishable Food & Beverages
Clothing Items
Plastic & Building Products
Flatbed Truck/Heavy Loads
Refrigerated Truck
Chilled Fruits & Vegetables
Seafood
On the Basis of Shippers Type:
Multiple Shipper
Single Shipper
On the Basis of Application Type:
Industrial & Manufacturing
Energy & Mining
Food & Beverages
Oil & Gas
Pharmaceuticals & Healthcare
Others
By Country:
Germany
Italy
U.K.
France
Spain
Russia
Rest of Europe
Asia Pacific
On the Basis of Service Type:
Less-than Truckload (LTL) Services
Full Truck Load (FTL) Services

On the Basis of Truck Type:
Dry Van Truck
Non-perishable Food & Beverages
Clothing Items
Plastic & Building Products
Flatbed Truck/Heavy Loads
Refrigerated Truck
Chilled Fruits & Vegetables
Seafood
On the Basis of Shippers Type:
Multiple Shipper
Single Shipper

On the Basis of Application Type:
Industrial & Manufacturing
Energy & Mining
Food & Beverages
Oil & Gas
Pharmaceuticals & Healthcare
Others
By Country:
China
India
Japan
Australia & New Zealand
South Korea
Rest of Asia Pacific
Latin America
On the Basis of Service Type:
Less-than Truckload (LTL) Services
Full Truck Load (FTL) Services

On the Basis of Truck Type:
Dry Van Truck
Non-perishable Food & Beverages
Clothing Items
Plastic & Building Products
Flatbed Truck/Heavy Loads
Refrigerated Truck
Chilled Fruits & Vegetables
Seafood
On the Basis of Shippers Type:
Multiple Shipper
Single Shipper

On the Basis of Application Type:
Industrial & Manufacturing
Energy & Mining
Food & Beverages
Oil & Gas
Pharmaceuticals & Healthcare
Others
By Country:
Brazil
Argentina
Mexico
Rest of Latin America
Middle East and Africa
On the Basis of Service Type:
Less-than Truckload (LTL) Services
Full Truck Load (FTL) Services

On the Basis of Truck Type:
Dry Van Truck
Non-perishable Food & Beverages
Clothing Items
Plastic & Building Products
Flatbed Truck/Heavy Loads
Refrigerated Truck
Chilled Fruits & Vegetables
Seafood
On the Basis of Shippers Type:
Multiple Shipper
Single Shipper
On the Basis of Application Type:
Industrial & Manufacturing
Energy & Mining
Food & Beverages
Oil & Gas
Pharmaceuticals & Healthcare
Others
By Country:
GCC Countries
South Africa
Rest of Middle East and Africa
Company Profiles
YRC Freight*
Company Overview
Product Portfolio and Specifications
Financial Performance
Strategic Overview
Recent Developments/Updates
XPO Logistics
Old Dominion
UPS Freight
Estes Express Lines
ABF Freight
R+L Carriers
Saia Motor Freight Line
Southeastern Freight Lines
Holland Regional
J.B. Hunt
Schneider
Swift Transportation
Werner Enterprises
“*” marked represents similar segmentation in other categories in the respective section.