Across the globe, there is no industry that is stronger than the shipping industry as there are so many people and companies that ship items across the world now. So understand that LTL freight companies are going to be the future of the United States and of the world. Think about how often you probably order items online to your house. All of the time most likely, and that is just one way in which you could understand why LTL freight companies are such a big deal right now.
Right now the LTL freight companies market has been estimated to be valued at $35 billion. Think about that for a moment and that should help people understand just how strong this market is. Here are all of the facts that surround LTL freight companies.
In the year of 2013, there was nearly 15 billion tons of cargo moved by trucking transportation systems. The Bureau of Labor Statistics has gathered and collected data about industries across the entire globe. They have recently reported that by the year of 2040, this number is estimated to grow to nearly 19 billion tons of cargo. So this means that over the next twenty years or so, the LTL freight companies market is going to grow and increase.
According to Satish Jindel, president of SJ Consulting Group, length of haul has declined. Public truckload carriers report that the average length of haul has decreased 4% between 2011 and 2016. Trade shows are held in conventions centers all across the United States. As of October 2016, there were 252 convention centers across the country. California and Florida had the largest number of 20 locations each, followed by Nevada which had 19.
The United States Department of Transportation also gets involved in understanding the market of LTL freight companies. As a matter of fact, they specifically work hard to understand the amount of money that can be moved. The United States Department of Transportation reported that the value of freight moved in the year of 2007 was at $882 per ton. The United States Department of Transportation believes that by the year of 2040, the value of freight moved will manage to reach $1,377.
There are almost 12 million trucks, rail cars, vessels, and locomotives used across the world to help move goods. The transportation network extends beyond just the work of LTL freight companies. So it is important to understand that LTL freight companies are not the only aspect of the shipping industry.
According to the Federal Motor Carrier Safety Administration, approximately 5.9 million commercial motor vehicle drivers operate in the United States. So this stat points directly o just how popular LTL freight companies are in the United States. However, this stat also points to just a portion of the people who are employed by this industry and why it is valuable to many citizens in the United States.
Expedited trucking, expedited trucking transportation, and LTL shipping services are all so importnat for so many people. They help provide them with legitimate forms of transportation for valuable cargo items. It is also very important for the pharma logistics and pharma logistics services.
The revenue of e-commerce in the United States has managed to reach almost $423 over the past couple of years and many experts believe it is only going to increase. Whether it’s full truckload, less-than-truckload (LTL), or parcel, carriers are being forced to adjust to changes in the retail industry.
The three most valuable commodities moved by the U.S. freight transportation system include machinery, electronics, and motorized vehicles. Spending in the U.S. logistics and transportation industry totaled $1.48 trillion in 2015 and represented 8% of the annual gross domestic product.
In Conclusion
As the years go on, so many people are going to be using LTL freight companies more often than ever before. When all of the groups that study these types of stats and data are projecting that these types of industries will grow then it is important to listen to them.
