Market Size of china less than-truck-load (ltl) Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 92.55 Billion |
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Market Size (2030) | USD 137.95 Billion |
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Largest Share by End User Industry | Manufacturing |
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CAGR (2024 - 2030) | 6.88 % |
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Fastest Growing by End User Industry | Wholesale and Retail Trade |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
China Less than-Truck-Load (LTL) Market Analysis
The China Less than-Truck-Load (LTL) Market size is estimated at 92.55 billion USD in 2024, and is expected to reach 137.95 billion USD by 2030, growing at a CAGR of 6.88% during the forecast period (2024-2030).
92.55 Billion
Market Size in 2024 (USD)
137.95 Billion
Market Size in 2030 (USD)
5.67 %
CAGR (2017-2023)
6.88 %
CAGR (2024-2030)
Largest Market by Destination
79.04 %
value share, Domestic, 2023
The growth of the domestic segment is supported by growing B2B e-commerce, rapid urbanization, growth of small and medium e-commerce merchants, just-in-time manufacturing, etc.
Largest Market by End User Industry
40.54 %
value share, Manufacturing, 2023
Manufacturing is the largest industry in China. It contributed around 30% to the national GDP in 2022. The manufacturing sector's contribution to the GDP registered growth of 4.30% YoY in 2022.
Fastest Growing Market by End User Industry
8.67 %
Projected CAGR, Wholesale and Retail Trade, 2024-2030
The segment is expected to grow in the coming years, supported by the growth of e-commerce. The e-commerce market is expected to register a CAGR of 12.16% during 2023-2027.
Fastest Growing Market by Destination
7.14 %
Projected CAGR, International, 2024-2030
The future of the international segment seems positive, as China's cross-border e-commerce B2B market is anticipated to expand and register a CAGR of 25% between 2021 and 2025.
First Leading Market Player
3.18 %
market share, SF Express (KEX-SF), 2022
SF Express offers services for more than 130,000 long-haul and branch routes. The company operates more than 105,000 terminal collection and distribution vehicles.
China's auto exports increased by 57.9% YoY in 2023, driving the growth of the market
- In 2022, the manufacturing end-user segment experienced growth boosted by the manufacturing industry's output, which rose by 3% and reached USD 4.83 trillion. China's manufacturing production sustained its development in 2022, with high-tech manufacturing and equipment manufacturing posting robust performance. Moreover, in 2023, China remained the world's top manufacturing hub, achieving this feat for the 14th consecutive year. The rise in production and exports is driving the demand for road services as the trucking industry plays a significant role in ensuring the timely delivery and distribution of manufactured goods domestically. In 2023, China's auto exports surged 57.9% YoY to a record high of 4.91 million vehicles.
- Online retail sales expanded by 4% in 2022. Online retail sales of physical goods climbed by 6.20% YoY in 2022. The country's total retail sales of consumer goods in 2022 dipped by 0.2% over the previous year, but the December data showed a recovery in consumption. Alibaba’s Taobao and Tmall (with 50.8% of the market share) and JD.com (15.9%) are the domestic platforms that dominate China’s e-commerce market. Pinduoduo (13.2%) recently overtook dozens of competitors to become the third-largest platform, using a new group purchasing model.
- China is planning to increase its annual natural gas production from 205 bcm in 2021 to more than 230 bcm by 2025 and maintain its crude oil production at 200 million tons annually. Moreover, the Chinese pharmaceutical industry is anticipated to register a CAGR of 12.2% by 2025. China intends to reinvent its pharmaceutical industry as part of the "Made in China 2025" industrial plan. Furthermore, major manufacturing firms will be fully digitized, and backbone enterprises in key industries will be smart by 2035.
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Understand The Key Trends Shaping This Market
China Less than-Truck-Load (LTL) Industry Segmentation
Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others are covered as segments by End User Industry. Domestic, International are covered as segments by Destination.
- In 2022, the manufacturing end-user segment experienced growth boosted by the manufacturing industry's output, which rose by 3% and reached USD 4.83 trillion. China's manufacturing production sustained its development in 2022, with high-tech manufacturing and equipment manufacturing posting robust performance. Moreover, in 2023, China remained the world's top manufacturing hub, achieving this feat for the 14th consecutive year. The rise in production and exports is driving the demand for road services as the trucking industry plays a significant role in ensuring the timely delivery and distribution of manufactured goods domestically. In 2023, China's auto exports surged 57.9% YoY to a record high of 4.91 million vehicles.
- Online retail sales expanded by 4% in 2022. Online retail sales of physical goods climbed by 6.20% YoY in 2022. The country's total retail sales of consumer goods in 2022 dipped by 0.2% over the previous year, but the December data showed a recovery in consumption. Alibaba’s Taobao and Tmall (with 50.8% of the market share) and JD.com (15.9%) are the domestic platforms that dominate China’s e-commerce market. Pinduoduo (13.2%) recently overtook dozens of competitors to become the third-largest platform, using a new group purchasing model.
- China is planning to increase its annual natural gas production from 205 bcm in 2021 to more than 230 bcm by 2025 and maintain its crude oil production at 200 million tons annually. Moreover, the Chinese pharmaceutical industry is anticipated to register a CAGR of 12.2% by 2025. China intends to reinvent its pharmaceutical industry as part of the "Made in China 2025" industrial plan. Furthermore, major manufacturing firms will be fully digitized, and backbone enterprises in key industries will be smart by 2035.
| End User Industry | |
| Agriculture, Fishing, and Forestry | |
| Construction | |
| Manufacturing | |
| Oil and Gas, Mining and Quarrying | |
| Wholesale and Retail Trade | |
| Others |
| Destination | |
| Domestic | |
| International |
Need A Different Region Or Segment?
China Less than-Truck-Load (LTL) Market Size Summary
The China Less than-Truck-Load (LTL) market is poised for significant growth, driven by the country's robust manufacturing sector and expanding e-commerce activities. As a pivotal component of China's logistics infrastructure, the LTL market benefits from the nation's status as a leading global manufacturing hub, with high-tech and equipment manufacturing sectors showing strong performance. The surge in production and exports, particularly in the automotive sector, underscores the critical role of trucking services in facilitating the timely distribution of goods. The rise of online retail, dominated by platforms like Alibaba's Taobao and Tmall, and JD.com, further fuels the demand for efficient logistics solutions. This growth is supported by substantial government investments in the logistics sector, aimed at enhancing infrastructure and operational efficiency, particularly in key regions like the Yangtze River Delta.
The market landscape is characterized by a fragmented competitive environment, with major players such as Deppon Express, SF Express, and STO Express holding a modest share. Recent developments, including strategic partnerships and the introduction of innovative services like SF Express's cross-border cargo platform, highlight the industry's focus on modernization and sustainability. The market's expansion is also influenced by broader economic factors, such as fluctuations in fuel prices and the ongoing transition towards electric vehicles, which impact operational costs and logistics strategies. As China continues to prioritize economic stability and growth, the LTL market is expected to play a crucial role in supporting the country's ambitious industrial and digital transformation plans.
China Less than-Truck-Load (LTL) Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)
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1.1 End User Industry
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1.1.1 Agriculture, Fishing, and Forestry
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1.1.2 Construction
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1.1.3 Manufacturing
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1.1.4 Oil and Gas, Mining and Quarrying
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1.1.5 Wholesale and Retail Trade
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1.1.6 Others
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1.2 Destination
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1.2.1 Domestic
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1.2.2 International
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China Less than-Truck-Load (LTL) Market Size FAQs
How big is the China Less than-Truck-Load (LTL) Market?
The China Less than-Truck-Load (LTL) Market size is expected to reach USD 92.55 billion in 2024 and grow at a CAGR of 6.88% to reach USD 137.95 billion by 2030.
What is the current China Less than-Truck-Load (LTL) Market size?
In 2024, the China Less than-Truck-Load (LTL) Market size is expected to reach USD 92.55 billion.
