What is less-than-truckload (LTL)
The less-than-truckload (LTL) market refers to the segment of the trucking industry that specializes in transporting smaller shipments or freight that do not require a full truckload. LTL carriers consolidate shipments from multiple shippers onto a single truck and charge by the weight or volume of the shipment.
LTL shipments are typically smaller and less time-sensitive than full truckload (FTL) shipments, which are dedicated to a single shipper's goods on a single truck. LTL carriers may offer a variety of services, such as standard or expedited delivery, as well as specialized services for handling hazardous materials or temperature-controlled shipments.
The LTL market is an important part of the overall trucking industry, as it helps to transport a wide variety of goods, including manufactured goods, raw materials, and consumer products, from one location to another. LTL carriers may work with shippers directly or through intermediaries such as freight brokers.
Understanding and tracking trends in the LTL market can be important for carriers, shippers, and other stakeholders in the transportation industry, as it can help them make informed decisions about business strategy and operations.