Long-Distance Freight Trucking in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: October 2023
NAICS 48412CARevenue
$30.4bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
76,933
Businesses
57,687
Wages
$X.Xbn
Long-Distance Freight Trucking in Canada industry analysis
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.
Trends and Insights
- 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 stiff competition.
- 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 per ton than LTL carriers.
- Proximity to nearby markets is essential. Companies with high transportation costs will struggle to compete effectively.
- Internal competition is fierce due to relatively low barriers to entry like the low capital necessary to get started.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 0.7 % over the past five years, to reach an estimated $30.4bn in 2023.
Trends and Insights
Consumption levels prompt revenue growth despite volatility
- Consumption levels have continued to grow as consumer demand shows no signs of slowing down. Consumer spending has been on the upswing for decades as consumer products continue to proliferate and grow in price.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Economic growth fuels profit increase
- Consumer spending is expected to jump, prompting manufacturers to ramp up production to meet demand for various goods, necessitating freight transportation services to deliver inputs.
Biggest companies in the Long-Distance Freight Trucking in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
TFI International Inc. | 885.5 | N/A | N/A | |
Bison Transport | 664.2 | N/A | N/A | |
TransX Group of Companies | 470.4 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Long-Distance Freight Trucking in Canada
Products & Services
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.
Trends and Insights
Truckload carriers comprise the largest share of revenue
- Truckload (TL) carriers are dedicated entirely to one customer and make door-to-door deliveries of goods, making this segment less labour-intensive than less-than-truckload (LTL). Companies don't need intermediate freight-consolidation facilities so they have low start-up costs.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Scheduled Air Transportation in Canada
- Rail Transportation in Canada
- Ocean & Coastal Transportation in Canada
- Local Freight Trucking in Canada
Complementors
- Tank & Refrigeration Trucking in Canada
- Freight Packing & Logistics Services in Canada
- Couriers & Local Delivery Services in Canada
International industries
- Long-Distance Freight Trucking in the US
- Tank & Refrigeration Trucking in the US
- Vehicle Shipping Services in the US
- Long-Distance Refrigerated Trucking in the US
- Road Freight Transport in Australia
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Long-distance truckload transportationLong-distance less-than-truckload (LTL) transportationCompanies
TFI International Inc.Bison TransportTransX Group of CompaniesPurchase this report to view all 4 major companies in this industry.
Related Terms
TRUCKLOADLESS-THAN-TRUCKLOAD (LTL)FUEL SURCHARGEJUST-IN-TIME (JIT)DELIVERED IN-FULL AND ON-TIME (DIFOT)Industry Code
NAICS 48412 - Long-Distance Freight Trucking in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
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 ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Proximity to nearby markets is essential. Companies with high transportation costs will struggle to compete effectively.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Internal competition is fierce due to relatively low barriers to entry like the low capital necessary to get started.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
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.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of TFI International Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Bison Transport's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of TransX Group of Companies's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for TFI International Inc., and factors influencing its performance in the industry
- Description and key data for Bison Transport, and factors influencing its performance in the industry
- Description and key data for TransX Group of Companies, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Companies must adhere to Canada's Transportation Act Review. This review, alongside local and provincial standards, outline the requirements for participating in the industry...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit has slipped amid rising purchasing and wage outlays. Freight trucking companies have struggled to compete amid a high degree of competition.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
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:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Long-Distance Freight Trucking industry in Canada in 2024?
The market size of the Long-Distance Freight Trucking industry in Canada is $30.4bn in 2024.
How many businesses are there in the Long-Distance Freight Trucking in Canada industry in 2023?
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.
Has the Long-Distance Freight Trucking industry in Canada grown or declined over the past 5 years?
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.
What is the forecast growth of the Long-Distance Freight Trucking industry in Canada over the next 5 years?
Over the next five years, the Long-Distance Freight Trucking industry in Canada is expected to grow.
What are the biggest companies in the Long-Distance Freight Trucking market in Canada?
The biggest companies operating in the Long-Distance Freight Trucking market in Canada are TFI International Inc., Bison Transport and TransX Group of Companies
What does the Long-Distance Freight Trucking in Canada include?
Long-distance truckload transportation and Long-distance less-than-truckload (LTL) transportation are part of the Long-Distance Freight Trucking industry.
Which companies have the highest market share in the Long-Distance Freight Trucking in Canada?
The company holding the most market share in Canada is TFI International Inc..
How competitive is the Long-Distance Freight Trucking industry in Canada?
The level of competition is high and increasing in the Long-Distance Freight Trucking industry in Canada.
