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Less-Than-Truckload (LTL) Market to Grow by USD 110.7 Billion (2025-2029), Driven by E-Commerce Growth in Retail, AI’s Role in Market Transformation – Technavio

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NEW YORK, Feb. 3, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global Less-than-truckload (LTL) market size is estimated to grow by USD 110.7 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  6.8%  during the forecast period. Advances in e-commerce in retail sector is driving market growth, with a trend towards emergence of big data in global less-than-truckload (ltl) market  However, rising prices of ltl carriers  poses a challenge.Key market players include Addmotor Tech, Autonix Auto Industries Pvt. Ltd., Benelli Biciclette, Brompton Bicycle Retail Ltd., Dahon North America Inc., e JOE Bike, Dahon, A-bike, Giant Bicycles, Helix, Bike Friday, Montague Bike, Brompton Bicycle, GOGOBIKE, Birdy Bike, FOREVER Bicycle, ENZO eBike, Kalkhoff Werke GmbH, Karbon Kinetics Ltd., Mighty Velo, Ming Cycle Industrial Co. Ltd.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Less-Than-Truckload (LTL) Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 6.8%

Market growth 2025-2029

USD 110.7 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.4

Regional analysis

APAC, North America, Europe, Middle East and
Africa, and South America

Performing market contribution

APAC at 60%

Key countries

China, US, Japan, Germany, Canada, India,
France, South Korea, UK, and Italy

Key companies profiled

Addmotor Tech, Autonix Auto Industries Pvt. Ltd.,
Benelli Biciclette, Brompton Bicycle Retail Ltd.,
Dahon North America Inc., e JOE Bike, Dahon, A-bike,
Giant Bicycles, Helix, Bike Friday, Montague Bike,
Brompton Bicycle, GOGOBIKE, Birdy Bike,
FOREVER Bicycle, ENZO eBike, Kalkhoff Werke
GmbH, Karbon Kinetics Ltd., Mighty Velo, Ming
Cycle Industrial Co. Ltd.

Market Driver

The Less-Than-Truckload (LTL) market is witnessing significant growth in various sectors like Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, and E-commerce. Freight transport volume is increasing due to the rise in demand for retail products and MSME sector goods. Freight pricing trends are influenced by fuel prices, with petrol and diesel affecting truckers’ costs. Oil demand and marketing companies’ crude oil purchases impact freight transportation expenses. LTL services cater to small and medium shipments, offering scalability and affordability. Road freight services dominate the logistics sector, but air, rail, and ground shipping also play essential roles. Full Truckload carriers and specialized carriers serve industries with large cargo requirements, while LTL freight carriers cater to shippers with lower volume needs. Operational efficiency and economic conditions are crucial factors in LTL pricing, with density-based pricing becoming common. Startups and industrial shipping benefit from LTL’s flexibility. 

LTL logistics companies and shippers are leveraging big data to transform vast amounts of information into a competitive edge. Big data offers advantages such as customized services, identifying market trends, and agility for new business models. In the European logistics sector, the implementation of big data analytics is still in its infancy due to IT disparities. Big data significantly benefits the logistics industry in three key areas: operational efficiency, customer experience, and new business models. By optimizing core activities like resource utilization, delivery time, and geographical coverage, big data enhances operational efficiency. Improved customer experience is achieved through personalized services and real-time tracking. New business models can be developed based on data-driven insights, creating agility and innovation in the industry. 

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 Market Challenges

The Less-Than-Truckload (LTL) market faces unique challenges in various industries like Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying. Freight volume in these sectors can be unpredictable, making it difficult for freight transport services to optimize their truck capacity. E-commerce and MSME sector growth contribute significantly to the LTL market, increasing the demand for scalability and affordability. Freight pricing trends are influenced by fuel costs, truckers’ availability, and operational efficiency. Full Truckload carriers and specialized carriers cater to large shipments, leaving LTL services for small to medium-sized cargo. Density-based pricing and economic conditions impact LTL shipping costs. Logistics sector players must navigate these challenges while ensuring flexibility for shippers, adapting to retail and industrial shipping needs, and offering ground, air, and rail shipping solutions.The Less-Than-Truckload (LTL) market is currently facing several challenges that are driving up prices. Rising costs, increased demand, and surging e-commerce deliveries are putting pressure on LTL carriers. Additionally, there’s a shortage of qualified drivers, tightening Truckload (TL) capacity, and growing government regulations. LTL carriers are investing heavily in their trucks, drivers, and facilities to meet demand, but fuel expenses pose a significant risk. Volatility in fuel prices can impact their fuel surcharge revenues, making fuel costs a major concern for LTL profitability. Last-mile delivery operations also present challenges for LTL carriers, requiring them to maintain profitability while ensuring transparency and improving delivery efficiency.

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Segment Overview 

This less-than-truckload (ltl) market report extensively covers market segmentation by  

Type 1.1 Long-haul carriers1.2 Superregional carriers1.3 Regional carriersCapacity 2.1 Light LTL volume2.2 Heavy LTL volumeGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South AmericaEnd-User

1.1 Long-haul carriers-  The long-haul segment of the Less-Than-Truckload (LTL) market is the largest revenue generator, accounting for significant market share. Long-haul LTL carriers, also known as national carriers, transport shipments over long distances, typically within 3 to 5 days. The average haul length is around 1,200 miles. These carriers operate through a hub-and-spoke network and often have labor unions. The long-haul LTL market is projected to grow steadily due to economic activity. This segment uses a traditional hub-and-spoke model, where freight is collected, consolidated, and dispatched from a centralized location. Long-haul LTL carriers offer value-added services, including packing, unpacking, and door-to-door collection. Competition is intense in this market, with alternatives like railways, airways, and seaways. Many businesses outsource their freight needs due to the high investment and expertise required for in-house transportation. Contractual logistics providers offer efficient and timely transportation, benefiting both shippers and customers. Additional services provided by long-haul LTL carriers include project logistics, network planning, cargo insurance, value-chain optimization, and customs brokerage. With the rise in industrial activities worldwide, the long-haul LTL carriers segment is poised for growth during the forecast period.

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Research Analysis

The Less-Than-Truckload (LTL) market plays a crucial role in transporting various goods, including those from sectors like Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, and Retail. LTL freight services offer scalability and affordability, making them an attractive option for MSMEs and shippers with smaller freight volumes. The logistics sector, particularly road freight services, benefits significantly from LTL shipping. Freight volume in the LTL market is influenced by factors such as e-commerce growth and the increasing demand for retail products. Freight pricing trends are influenced by factors like fuel prices, trailer capacity utilization, and cargo weight. The oil and gas industry, for instance, may require specialized LTL services for transporting equipment and supplies. Crude oil and other bulk commodities are typically transported via Full Truckload shipments, while LTL services are ideal for smaller cargo. Freight carriers offer flexibility in terms of pickup and delivery schedules, making LTL an attractive choice for businesses with varying shipping needs. The affordability and scalability of LTL services contribute to their growing popularity in various industries.

Market Research Overview

The Less-Than-Truckload (LTL) market caters to the freight transportation needs of various industries such as Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, and Retail, among others. The market’s freight volume is significantly influenced by the MSME sector, E-commerce, and the Logistics sector’s growth. Freight pricing trends in the LTL market are influenced by factors like fuel prices, operational efficiency, and economic conditions. The market offers scalability, affordability, and flexibility, making it an attractive option for small and medium-sized shipments. Key industries like Manufacturing, Oil and Gas, and Mining and Quarrying often require specialized LTL services due to the density and nature of their cargo. The market comprises various players, including Full Truckload Carriers, Specialized Carriers, and Freight Carriers, catering to the diverse needs of shippers. The LTL market is influenced by factors like fuel prices (Petrol, Diesel), crude oil demand, and the pricing strategies of oil marketing companies. The market offers various shipping options, including Ground Shipping, Air Shipping, Rail Shipping, and Volume LTL services, with density-based pricing models. Truckers play a crucial role in the LTL market, ensuring timely and efficient transportation of cargo. The market’s operational efficiency is influenced by factors like trailer capacity, cargo handling, and delivery times. The LTL market’s future growth is expected to be driven by the increasing demand for retail products and the growing importance of the logistics sector in various industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeLong-haul CarriersSuperregional CarriersRegional CarriersCapacityLight LTL VolumeHeavy LTL VolumeGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth AmericaEnd-User

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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EPWK HOLDINGS LTD. Announces Pricing of Initial Public Offering

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XIAMEN, China, Feb. 6, 2025 /PRNewswire/ — EPWK HOLDINGS LTD. (the “Company”) (NasdaqGM: EPWK), a company that connects businesses with great talents through innovative and efficient cloud-sourcing platforms, announced the pricing of its initial public offering (the “Offering”) of 2,750,000 Class A ordinary shares at a public offering price of $4.10 per share. The Class A ordinary shares start trading on Nasdaq Global Market under the ticker symbol “EPWK” on February 6, 2025.

The Company will receive aggregate gross proceeds of $11.275 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters an option, exercisable within 30 days after the closing of the Offering, to purchase up to an additional 412,500 Class A ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering was conducted on a firm commitment basis.

Proceeds from the Offering will be used for business development and marketing, research and development, exploration of new product and service offerings and the creation of an online global design center, and general corporate purposes and working capital.

Cathay Securities, Inc. acted as the representative of the underwriters, with Revere Securities LLC acting as co-underwriter (collectively, the “Underwriters”) for the Offering. VCL Law LLP served as counsel to the Company. Winston & Strawn LLP served as counsel to the Underwriters.

The Offering was conducted pursuant to the Company’s Registration Statement on Form F-1, as amended (File No. 333-269657) (the “Registration Statement”), previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on February 3, 2025. The Offering was made only by means of a prospectus, forming a part of the Registration Statement. A final prospectus relating to the Offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Cathay Securities, Inc. at 40 Wall Street, Suite 3600, New York, NY 10005, or by telephone at +1 (855) 939-3888.

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About EPWK HOLDINGS LTD.

The Company connects businesses with outstanding talent through an innovative and efficient integrated crowdsourcing platform, providing creative transaction services for small and medium-sized enterprises and suppliers. The Company was founded by Huang Guohua, former chief reporter of Fujian Daily Press Group, and conducts its operations through its subsidiaries and contractual arrangements with the variable interest entity in China. For more information, please visit the Company’s website: www.epwk.com

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Investor Relations
EPWK HOLDINGS LTD.
Phone: +86 0592-5978725
Email: chenyanjun@epwk.com

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SOURCE EPWK HOLDINGS LTD.

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SIMONA AMERICA Group Advances Sustainability Commitments with SBTi Validation As Part of SIMONA AG

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Reduction of CO2 emissions by 42% by 2030 (Scope 1 and 2)SIMONA’s contribution to restricting global warming to 1.5 degreesSignificant milestone in the execution of SIMONA’s sustainability strategy

ATLANTA, Feb. 6, 2025 /PRNewswire/ — SIMONA AMERICA Group, a subsidiary of SIMONA AG, is proud to announce that the company’s ambitious greenhouse gas (GHG) reduction targets have been officially validated by the Science Based Targets initiative (SBTi). This milestone underscores SIMONA’s commitment to reducing its environmental footprint and contributing to the global effort to limit temperature rise to 1.5 degrees Celsius.

SIMONA first signed up to the Science Based Target initiative (SBTi) at the beginning of 2024. The rationale behind this move was to ensure an effective reduction in the company’s carbon footprint, while also making a positive contribution to global climate change mitigation. In joining the SBTi, SIMONA has taken responsibility for the environment and set itself long-term goals that are both quantifiable and based on scientific principles.

As part of these science-based targets, SIMONA has pledged to reduce Scope 1 and Scope 2 emissions by 42% in absolute terms by 2030, using 2022 as the baseline year. Additionally, the company has committed to reducing Scope 3 emissions from purchased goods and services by 51.6% per ton of manufactured product within the same timeframe. The SBTi has recognized these targets as ambitious and aligned with the latest climate science and objectives of the Paris Agreement.

“The SBTi’s confirmation of our climate targets is a significant achievement within our sustainability strategy. It illustrates that we are on the right track when it comes to making a genuine contribution to global climate change mitigation. Working closely with our partners and customers, we are doing everything in our power to achieve our goals in a determined and effective manner,” said Johannes Kappler, Head of Sustainability at SIMONA AG.

At SIMONA AMERICA Group, sustainability remains a top priority across all facilities, operations, and product offerings. Through the increased use of renewable energy, process efficiency improvements, and material innovation—including the expansion of the TERREFORM® line for the aerospace industry and the installation of more than 3,300 solar panels at the Archbald, PA facility—SIMONA AMERICA Group is actively contributing to the company’s broader carbon reduction goals.

“SIMONA has started its sustainability journey much like every other company—by gathering a baseline for carbon accounting,” said Autumn Werner, Sustainability Manager for SIMONA AMERICA Group. “However, with SBTi validation, we have also added accountability to ensure that our efforts lead to real emission reductions while supporting the global goal of restricting warming to 1.5 degrees.”

Werner further emphasized the importance of industry-wide collaboration in sustainability: “SIMONA’s work towards becoming sustainable doesn’t just stop at products—it extends to real efforts across all of our facilities to drive meaningful emission reductions. The SBTi validation keeps us on track and aligns us with the many other companies committed to measurable, science-based climate action.”

To achieve these ambitious targets, SIMONA AMERICA Group is implementing specific initiatives, including transitioning to green electricity, optimizing production processes, and increasing the use of sustainable raw materials. Additionally, efforts to integrate post-industrial and customer waste into new products further reinforce the company’s circular economy approach.

The Science Based Targets initiative (SBTi) was established in 2015 as a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI), and the World Wildlife Fund (WWF). It provides companies with the framework to set rigorous emissions reduction targets in line with the latest climate science.

As SIMONA AMERICA Group continues to advance its sustainability strategy, the company remains committed to meaningful, science-backed actions that drive measurable impact for the environment and the industries it serves.

About SIMONA AMERICA Group

SIMONA AMERICA Group is a diversified manufacturer of high-quality thermoplastic products designed to provide innovative solutions and world-class customer service throughout the United States. As a subsidiary of SIMONA AG, the company is dedicated to sustainability, excellence, and advancing material technologies across multiple industries.

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SOURCE SIMONA AMERICA Group

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Walter P Moore receives ACEC California top award for CAA ICON’s Intuit Dome

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SACRAMENTO, Calif., Feb. 6, 2025 /PRNewswire/ — Last night, the American Council of Engineering Companies of California (ACEC California) announced that Walter P Moore has won the prestigious Golden State Award for their work on the Intuit Dome located in Inglewood, California.

Intuit Dome realized owner Steve Ballmer’s vision for the NBA Los Angeles Clippers to play in an iconic venue within a complex that houses all team functions under a single roof. The 18,000-seat arena is the NBA’s most environmentally friendly arena and benefits the Inglewood community year-round. The venue anchors a 1.14 million-square-foot facility including state-of-the-art practice and training facilities, team offices, fan gathering spaces, and indoor and outdoor basketball courts open to the public. The distinctive diagrid shell roof, covered in diamond-shaped ETFE and PTFE fabric panels, is designed to resemble a basketball net, making Intuit Dome stand out from other NBA arenas.

Walter P Moore’s team of structural, enclosure, seismic, and construction engineering specialists blended their expertise to optimize the roof geometry, connections, and panel layouts to achieve the goals of strength, beauty, and practicality. Seismic safety was a concern because the site is 1.25 miles from the Newport-Inglewood Fault.

The team created an elegant and ingenious solution that allows the light diagrid shell to behave independently from the much stiffer main arena structure that supports it during a seismic event. They connected the diagrid shell to the arena roof at its top and then laterally supported it at node points down its height with innovative toggle-brace connections. The toggle-braces provide lateral and gravity support while allowing the shell to “swish like a hula skirt” around the more rigid brace frame structure. Intuit Dome also features an enormous one-of-a-kind “Halo” board, a one-million pound, 360-degree, double-sided video board with retractable end pieces that are suspended from the roof, along with state-of-the-art rigging and catwalk systems that enhance the venue’s capabilities.

Intuit Dome is a fully electric facility with sufficient solar panels and batteries to power the arena for an entire concert or basketball game. It is the first NBA arena to achieve LEED Platinum certification under LEED v4. Walter P Moore reduced embodied carbon in the concrete by over 20 percent by collaborating with the concrete supplier to obtain supply-chain-specific Environmental Produce Declarations for all concrete mixes; as a result, the concrete is 50 percent more energy efficient than required by the California Green Building Code.

The complex opened on budget and three months ahead of schedule in July 2024.

Congratulations, Walter P Moore, for capturing ACEC California’s 2025 Golden State Award!

Photographs of all Engineering Excellence Award-winning projects can be found at: 2025 Engineering Excellence Award Winners – American Council of Engineering Companies of California

About Walter P Moore
Walter P Moore is an international company of engineers, innovators, and creative people who solve some of the world’s most complex structural and infrastructure challenges. Providing structural, diagnostics, civil, traffic, parking, transportation, enclosure, technology consulting, and construction engineering services, they design solutions that are cost- and resource-efficient, forward-thinking, and help support and shape communities worldwide. Founded in 1931 and headquartered in Houston, Texas, Walter P Moore’s 900+ professionals work across 24 U.S. offices and seven international locations. For more information, visit www.walterpmoore.com, or follow Walter P Moore on LinkedIn, X (Formerly Twitter), Facebook or Instagram.

About ACEC California
ACEC California is a 70+ year-old, nonprofit association of private consulting engineering and land surveying firms. As a statewide organization, we are dedicated to enhancing the consulting engineering and land surveying professions, protecting the general public, and promoting use of the private sector professionals in the growth and development of our state. Follow us on Social Media: Instagram | Facebook | X (Formerly Twitter) | LinkedIn 

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SOURCE American Council of Engineering Companies, California

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