China Less Than Truckload (LTL) Market: Size, Trends & Forecast with Impact of COVID-19 (2022-2026)

China Less Than Truckload (LTL) Market: Size, Trends & Forecast with Impact of COVID-19 (2022-2026)Scope of the Report

The report titled “China Less Than Truckload (LTL) Market: Size, Trends & Forecast with Impact of COVID-19 (2022-2026)”, provides an in-depth analysis of China less than truckload market by value, by volume, by component, by model, etc. The report also provides a detailed analysis of the COVID-19 impact on China less than truckload market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of China less than truckload market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.

China less than truckload market is fragmented. The key players of China less than truckload market are ANE (Cayman) Inc., S.F. Holdings Co., Ltd., ZTO Express (Cayman) Inc. (ZTO Freight), and Deppon Logistics Co., Ltd. are also profiled with their financial information and respective business strategies.

Company Coverage

ANE (Cayman) Inc.
S.F. Holdings Co., Ltd.
ZTO Express (Cayman) Inc. (ZTO Freight)
Deppon Logistics Co., Ltd.

Executive Summary

Less-than-truckload, also known as less-than-load (LTL), is a shipping service for relatively small loads or quantities of freight. Less-than-truckload services are offered by many large, national parcel services as well as by specialized logistics providers. These services can accommodate the shipping needs of countless businesses that need to move smaller batches of goods frequently.

China's less than truckload (LTL) market can be segmented based on components (Direct Line & Local Freight Operators with Regional Presence and Express Freight Networks with Nationwide Coverage). Express freight networks can be further segmented based on the model (Freight Partner Platform Model and Direct Model). Amid COVID-19 pandemic, due to delayed work resumption in factories and wholesale markets, the LTL industry face a downward trend in the beginning. With the increase in demand, policy action was taken by the government to stabilize the logistic industry and the surge in the growth rate of e-commerce has positively contributed to the market growth of the LTL industry in the second half of 2020.

China's less than truckload (LTL) market has increased during the years 2017-2021. The projections are made that the market would rise in the next four years i.e. 2022-2026 tremendously. China's less than truckload (LTL) market is expected to increase due to the growing B2B e-commerce, increasing penetration of heavy goods, rapid urbanization, growth of small and medium e-commerce merchants, omnichannel and delayering of trade distribution, just-in-time manufacturing, favourable policy environment, etc. Yet the market faces some challenges such as high cost, low entrance threshold, etc. Moreover, the market growth would succeed by various market trends like the evolution of commerce landscape and supply chain, replacement of regional carriers with express freight networks, increasing use of tech application, improving service quality and introducing the environment-friendly policy, etc.