China Less than-Truck-Load (LTL) Market Size

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).

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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

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.