Market Size of india 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 27.09 Billion |
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Market Size (2030) | USD 48.45 Billion |
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Largest Share by End User Industry | Wholesale and Retail Trade |
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CAGR (2024 - 2030) | 10.17 % |
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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 |
India Less than-Truck-Load (LTL) Market Analysis
The India Less than-Truck-Load (LTL) Market size is estimated at 27.09 billion USD in 2024, and is expected to reach 48.45 billion USD by 2030, growing at a CAGR of 10.17% during the forecast period (2024-2030).
27.09 Billion
Market Size in 2024 (USD)
48.45 Billion
Market Size in 2030 (USD)
8.43 %
CAGR (2017-2023)
10.17 %
CAGR (2024-2030)
Largest Market by Destination
80.24 %
value share, Domestic, 2023
In 2022, small fleet operators, which dominate the domestic LTL market and own about 5-20 five trucks, drove 85% of India’s logistics needs.
Largest Market by End User Industry
39.64 %
value share, Wholesale and Retail Trade, 2023
The rise of e-commerce is driving the demand for road freight services. In 2022, the e-commerce sector in India experienced a YoY growth of 4.3% and reached USD 57.45 billion.
Fastest Growing Market by End User Industry
12.81 %
Projected CAGR, Wholesale and Retail Trade, 2024-2030
The end-user industry is expected to grow significantly as the e-commerce market is projected to record a CAGR of 14.11% during 2023-2027.
Fastest Growing Market by Destination
10.58 %
Projected CAGR, International, 2024-2030
The international segment is expected to grow in the future, as cross-border e-commerce is anticipated to play a crucial role in helping achieve India's USD 1 trillion export vision by 2028.
First Leading Market Player
1.27 %
market share, VRL Logistics Ltd., 2022
VRL provides LTL godown-to-godown services across the country. Also, it provides goods transport services with a fleet size of more than 4,800 trucks.
The e-commerce industry is expected to grow at a CAGR of 14.11% during 2023-27, driving the growth of the market
- In 2022, the manufacturing segment experienced growth boosted by the manufacturing sector's output. With various programs and policies in place, the government aims to ensure that 25% of the total economy's production comes from manufacturing by 2025. As the Indian economy grows, there is an increase in the demand for manufactured goods, leading to a higher need for LTL services. The Indian government is taking several initiatives to promote the growth of the manufacturing industry in the country. As part of the efforts, in the Union Budget 2022-23, the MSME sector received a boost with the extension of the Emergency Credit Line Guarantee Scheme (ECLGS).
- The expanding middle-class population in India led to increased consumption of retail products, necessitating more road freight services. Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. The rise of e-commerce is also driving the demand for road freight services in the country. In addition, the Indian e-commerce industry is projected to record a CAGR of 14.11% during 2023-2027.
- The future of the wholesale and retail trade segment is expected to be outstanding as India's retail industry is projected to grow at a pace of 9% over 2019-2030, from USD 779 billion in 2019 to USD 1,407 billion by 2026 and more than USD 1.8 trillion by 2030. The long-term future for the industry looks positive, supported by rising income, favorable demographics, entry of foreign players, and increasing urbanization. Moreover, rising production and exports are expected to support the manufacturing end-user segment.
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Understand The Key Trends Shaping This Market
India 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 segment experienced growth boosted by the manufacturing sector's output. With various programs and policies in place, the government aims to ensure that 25% of the total economy's production comes from manufacturing by 2025. As the Indian economy grows, there is an increase in the demand for manufactured goods, leading to a higher need for LTL services. The Indian government is taking several initiatives to promote the growth of the manufacturing industry in the country. As part of the efforts, in the Union Budget 2022-23, the MSME sector received a boost with the extension of the Emergency Credit Line Guarantee Scheme (ECLGS).
- The expanding middle-class population in India led to increased consumption of retail products, necessitating more road freight services. Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. The rise of e-commerce is also driving the demand for road freight services in the country. In addition, the Indian e-commerce industry is projected to record a CAGR of 14.11% during 2023-2027.
- The future of the wholesale and retail trade segment is expected to be outstanding as India's retail industry is projected to grow at a pace of 9% over 2019-2030, from USD 779 billion in 2019 to USD 1,407 billion by 2026 and more than USD 1.8 trillion by 2030. The long-term future for the industry looks positive, supported by rising income, favorable demographics, entry of foreign players, and increasing urbanization. Moreover, rising production and exports are expected to support the manufacturing end-user segment.
| 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?
India Less than-Truck-Load (LTL) Market Size Summary
The India Less than-Truck-Load (LTL) market is poised for significant growth, driven by the expanding manufacturing and retail sectors. The government's initiatives to boost manufacturing output, aiming for a substantial contribution to the economy, are expected to increase the demand for LTL services. The burgeoning middle class and the rapid expansion of the e-commerce sector are further propelling the need for efficient road freight services. The retail industry, characterized by its dynamic nature and the entry of new players, is also a key contributor to the rising demand for LTL services. As urbanization and income levels rise, the logistics sector, encompassing both domestic and global players, is becoming increasingly vital in facilitating the movement of goods within India and beyond.
The transportation industry, with a significant focus on road transport, plays a crucial role in India's economy, handling the majority of freight and passenger traffic. Government and private investments, along with favorable policies such as 100% FDI in the roads and highway sector, are enhancing connectivity and supporting the sector's growth. However, challenges such as rising fuel costs and their impact on operational expenses remain a concern for truck operators. Despite these challenges, the market is witnessing innovations and commitments towards sustainability, with companies like Transport Corporation of India exploring zero-emission solutions. The market landscape is fragmented, with major players like Delhivery Limited and Mahindra Logistics Ltd. leading the charge in adapting to the evolving demands of the logistics and transportation sectors.
India 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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India Less than-Truck-Load (LTL) Market Size FAQs
How big is the India Less than-Truck-Load (LTL) Market?
The India Less than-Truck-Load (LTL) Market size is expected to reach USD 27.09 billion in 2024 and grow at a CAGR of 10.17% to reach USD 48.45 billion by 2030.
What is the current India Less than-Truck-Load (LTL) Market size?
In 2024, the India Less than-Truck-Load (LTL) Market size is expected to reach USD 27.09 billion.
