$30.4bn
$X.Xbn
76,933
57,687
$X.Xbn
Revenue for long-distance freight trucking services is expected to grow alongside favourable consumer trends. Consumption rates among consumers continue to grow and the skyrocketing popularity of e-commerce has benefited demand for freight transportation. Meanwhile, the operating landscape has been difficult amid the pandemic and heightened internal price-based competition. Revenue is expected to grow at a CAGR of 0.7% to $34.4 billion through the end of 2023, including growth of 1.1% in 2023 alone when profit will account for 12.1% of revenue.
Industry revenue has grown at a CAGR of 0.7 % over the past five years, to reach an estimated $30.4bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
TFI International | 1,371.9 | 171.4 | 12.5 |
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Industry revenue is measured across several distinct product and services lines, including Truckload carriers, Less-than-truckload carriers and Other. Truckload carriers is the largest segment of the Long-Distance Freight Trucking in Canada.
Truckload carriers comprise the largest share of revenue
The Long-Distance Freight Trucking industry in Canada provides long-distance general freight trucking between metropolitan areas. The industry provides truckload services in addition to less-than-truckload services. The movement of specialized freight is not included in this industry, though many operators generate marginal revenue through specialized freight activities.
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NAICS 48412 - Long-Distance Freight Trucking in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Internal competition is fierce due to relatively low barriers to entry. Entrants can join this industry with a relatively low amount of capital. Freight rates are lowered by ...
Learn about an industry's products and services, markets and trends in international trade.
There’s stiff internal competition between truckload (TL) and less than truckload (LTL) shipping options. The largest TL carriers have low profit and generate less revenue pe...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Proximity to nearby markets is essential. Companies with high transportation costs will struggle to compete effectively.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Internal competition is fierce due to relatively low barriers to entry like the low capital necessary to get started.
Learn about the performance of the top companies in the industry.
No company accounts for a sizeable share of revenue. The intensity of competition and low barriers to entry has prevented any carrier from separating themselves.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Companies must adhere to Canada's Transportation Act Review. This review, alongside local and provincial standards, outline the requirements for participating in the industry...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit has slipped amid rising purchasing and wage outlays. Freight trucking companies have struggled to compete amid a high degree of competition.
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Long-Distance Freight Trucking industry in Canada is $30.4bn in 2024.
There are 57,687 businesses in the Long-Distance Freight Trucking industry in Canada, which has grown at a CAGR of 3.4 % between 2018 and 2023.
The market size of the Long-Distance Freight Trucking industry in Canada has been growing at a CAGR of 0.7 % between 2018 and 2023.
Over the next five years, the Long-Distance Freight Trucking industry in Canada is expected to grow.
The biggest company operating in the Long-Distance Freight Trucking market in Canada is TFI International
Long-distance truckload transportation and Long-distance less-than-truckload (LTL) transportation are part of the Long-Distance Freight Trucking industry.
The company holding the most market share in Canada is TFI International .
The level of competition is high and increasing in the Long-Distance Freight Trucking industry in Canada.