Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "China Less-than-truckload (LTL) Market (Direct Line & Local Freight Operators and Express Freight Networks): Insights & Forecast with Potential Impact of COVID-19 (2024-2028)" report has been added to ResearchAndMarkets.com's offering.
China road transportation market is anticipated to reach US$ 1.09 trillion in 2028, growing at a CAGR of 6.33% during the period spanning 2024-2028. China Less-than-truckload (LTL) market is anticipated to reach US$357.94 billion in 2028, growing at a CAGR of 6.49% during the period spanning 2024-2028.
An increase in import and export of products and materials is expected to boost the road freight transport market during the forecast period. China's road transportation market can be segmented as follows: Full-truck-load (FTL), Less-than-truckload (LTL), and Express parcel.
The growth in the market has been driven by factors like rising consumption rate, rising penetration of B2C heavy-goods e-commerce, mounting urban population, omni-channel and delayering of trade distribution, and just in time manufacturing. The market is expected to face certain challenges such as high cost and capital & time intensive. To overcome these challenges, the market would witness some key trends like replacement of regional carriers with express freight networks, technological developments, evolution of commerce landscape and supply chain, and increasing sustainability in LTL transportation.
In 2023, the dominant share of the market was held by Direct Line & Local Freight Operators. Further, China's express freight network market can be divided into two models: Freight Partner Platform Model and Direct Model. In 2023, the dominant share of the market was held by Freight Partner Platform Model.
Scope of the report
- The report provides a comprehensive analysis of the China Less-than-truckload (LTL) market.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 72 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $278.35 Billion |
| Forecasted Market Value (USD) by 2028 | $357.94 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | China |
Market Dynamics
Growth Drivers
- Rising Consumption Rate
- Growing Penetration of B2C Heavy-Goods E-commerce
- Mounting Urban Population
- Omni-channel and Delayering of Trade Distribution
- Just-in-Time Manufacturing
Key Trends & Developments
- Technological Developments
- Replacement of Regional Carriers with Express Freight Networks
- Evolution of Commerce Landscape and Supply Chain
- Increasing Sustainability in LTL Transportation
Challenges
- High Cost
- Capital and Time Intensive
Competitive Landscape
- Market Share Comparison
- Key Players
Company Profiles
- S.FHoldings Co., Ltd.
- ANE Cayman Inc.
- ZTO Express (Cayman) Inc(ZTO Freight)
- Deppon Logistics Co., Ltd
- Yunda Express
- Yimidida
For more information about this report visit https://www.researchandmarkets.com/r/r0s1t
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