$31.3bn
$X.Xbn
112k
63,413
$X.Xbn
Revenue for long-distance freight trucking services is expected to grow alongside favourable consumer trends. The pandemic era saw a heightened reliance on online shopping, leading to a rising number of parcel deliveries and bolstering revenue for trucking companies. Still, the period was marked by challenges like volatile diesel prices, which complicated pricing strategies and pressured trucking firms' competitiveness against rail distribution. The industry grappled with labor shortages as an aging workforce continued to retire and younger workers sought alternative careers, prompting companies to elevate wages to attract new drivers. Revenue is expected to grow at a CAGR of 1.0% to $31.3 billion through the end of 2024, including growth of 1.2% in 2024 alone.
Industry revenue has grown at a CAGR of 1.9 % over the past five years, to reach an estimated $31.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
TFI International | 1,149.4 | 167.8 | 14.6 |
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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 isn't 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.
Resilient consumer spending supported growth in freight trucking companies despite economic volatility. As more consumers shop online and source goods globally, demand for pa...
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 margins and generate less re...
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.
Low barriers to entry keep the freight trucking market competitive. Minimal capital requirements allow individuals to easily start a business, fostering an expansion in nonem...
Learn about the performance of the top companies in the industry.
TFI International expanded its presence in North America by acquiring UPS Freight, gaining access to an established network and customer base. The acquisition aligns with TFI...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The Canadian Environmental Protection Act (CEPA) enforces emissions standards for pollutants. It necessitates compliance through periodic emissions testing, pushing manufactu...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Fuel surcharges help offset rising fuel costs for trucking companies. When fuel prices exceed a certain threshold, companies can implement surcharges to generate additional r...
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 $31.3bn in 2024.
There are 63,413 businesses in the Long-Distance Freight Trucking industry in Canada, which has grown at a CAGR of 4.8 % between 2019 and 2024.
The market size of the Long-Distance Freight Trucking industry in Canada has been growing at a CAGR of 1.9 % between 2019 and 2024.
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.