How Many LTL Carriers Operate in the United States? (2025 Data)

There are approximately 200 active LTL (Less-Than-Truckload) carriers operating in the United States as of 2025, according to industry research. The LTL market is significantly more consolidated than the full truckload sector, with the top 25 carriers controlling 91% of all revenue—totaling $48.2 billion of the $52.8 billion market.

Unlike the highly fragmented truckload market with nearly 900,000 for-hire carriers, the LTL segment features higher barriers to entry due to terminal network requirements and hub-and-spoke infrastructure investments. This has created a market dominated by a handful of major national carriers alongside regional specialists serving specific geographic corridors.

Numbers at a glance

• ~200 LTL carriers — estimated number of active LTL carriers in the U.S. market
• $52.8 billion — total U.S. LTL market size in 2024
• $48.2 billion — revenue controlled by the top 25 carriers (91% of market)
• Top 10 carriers — control 75% of total LTL revenue
• Top 5 carriers — command 50% of market share
• 1,300+ terminals — combined service centers among top national carriers
• 58%+ market share — held by regional carriers by segment type (2023)
• 4.5% CAGR — industry revenue growth over past five years

LTL vs. truckload: Understanding market structure

The LTL market operates fundamentally differently from the full truckload segment. While nearly 900,000 for-hire carriers compete in the truckload market (worth approximately $800 billion), only around 200 LTL carriers serve the $52.8 billion LTL market. According to Grand View Research (2023), this stark difference stems from the capital-intensive nature of LTL operations.

LTL carriers require extensive terminal networks, sophisticated hub-and-spoke logistics systems, and significant technology investments that create substantial barriers to entry. This leads to much less pricing volatility and capacity fluctuation compared to truckload markets, though networks are less flexible overall.

Top LTL carriers by revenue (2024)

The LTL market is dominated by a handful of major players. According to Transport Topics’ 2024 rankings, FedEx Freight maintains its position as the largest LTL carrier, followed closely by Old Dominion Freight Line, XPO Logistics, and Estes Express Lines.

Source: Transport Topics Top LTL Carriers 2024, company reports

Market concentration breakdown

The U.S. LTL market exhibits significant concentration at the top, with progressively smaller carriers fighting for the remaining market share. According to Mordor Intelligence (2024), this concentration enables larger carriers to invest heavily in network density, technology platforms, and service consistency that smaller competitors struggle to match.

Regional vs. national carriers

According to Grand View Research, regional carriers dominated the LTL market in 2023 with a revenue share exceeding 58%. Regional LTL carriers typically service a group of states within a defined geographic area, operating several facilities with dense local networks. Outside their regions, they generally do not offer coverage.

National carriers like FedEx Freight and XPO provide coast-to-coast coverage—XPO’s network covers over 99% of all U.S. zip codes through a single source. However, regional specialists often differentiate through faster transit times within their service areas, more personalized service, and competitive pricing for shorter-haul shipments.

Historical context: From 450 to 200

The Motor Carrier Act of 1980 fundamentally transformed the LTL industry. According to Land Line Media, in 1968 there were 450 LTL carriers listed in industry guides—today, virtually none of those original carriers remain as independent operators.

A 1999 study by Morrison and Winston documented that the number of large (Class I, over $10 million in revenues) LTL carriers fell from more than 600 in 1976 to around 50 by 1995. Deregulation triggered intense price competition—average LTL rates fell by up to 20% between 1977 and 1982—leading to massive industry consolidation.

2024 market developments: Yellow’s collapse reshapes landscape

Yellow Corporation’s bankruptcy filing in August 2023 sent shockwaves through the LTL industry, removing approximately $5 billion in annual capacity. According to Red Stag Fulfillment, this freight was fully absorbed by other carriers throughout 2024, with 25-50% going to carriers outside the top 10—demonstrating that industry disruption can benefit smaller operators with available capacity.

The bankruptcy also triggered a terminal acquisition spree. Saia invested $235.7 million to purchase 28 former Yellow properties, adding more than 20 new facilities to its network in 2024. TFI International completed 11 U.S. acquisitions, while Knight-Swift entered the LTL space through its acquisition of Dependable Highway Express.

LTL pricing and shipment trends (2024-2025)

According to industry data, LTL rates have continued rising since Yellow’s collapse. Current contract rates average $46.40 per hundredweight, representing a 14.3% year-over-year increase. The Bureau of Labor Statistics’ Producer Price Index for LTL long-distance trucking showed an 8.2% year-over-year gain in early 2024.

LTL carriers have maintained pricing discipline despite softening demand. Weight per shipment has trended downward—Saia reported an 8.2% decline in 2024—indicating a shift toward lighter shipments, likely driven by e-commerce growth. Typical LTL shipments range from 150 to 15,000 pounds, with costs ranging from $300 to $1,500 per delivery depending on weight, distance, and freight class.

Industry employment

According to Bureau of Labor Statistics data, 8.4 million people were employed in trucking-related jobs across the U.S. economy in 2024 (excluding self-employed). The truck transportation sector accounts for 24% of all transportation and warehousing employment, with 88% of workers being men.

LTL employment is stabilizing but remains 4.7% below pre-pandemic levels. Major carriers maintain significant workforces—FedEx Freight employs approximately 40,000 workers, while Old Dominion maintains a headcount of roughly 23,000. Productivity in long-distance general freight trucking increased 6.9% in 2024, the highest among the 10 largest industries measured.

Market outlook: $114B by 2025

According to Mordor Intelligence, the U.S. LTL market is projected to reach $114 billion in 2025 and grow at a 4.13% CAGR to reach $139.6 billion by 2030. Grand View Research projects slightly higher growth, estimating a 6.1% CAGR for the North American market through 2030.

Wholesale and retail trade, which contributed 35% of 2024 revenue, is expected to be the fastest-growing segment at 5.21% CAGR. Domestic freight represents nearly 77% of the market, with continued consolidation expected as leading carriers gain share through superior service capabilities and financial resources.

Frequently asked questions

How many LTL carriers are there in the United States?

There are approximately 200 active LTL carriers operating in the United States as of 2025. This is significantly fewer than the ~900,000 for-hire truckload carriers due to the high barriers to entry in LTL shipping, including terminal network requirements and hub-and-spoke infrastructure investments.

What is the largest LTL carrier in the United States?

FedEx Freight is the largest LTL carrier in the United States with approximately $9.0 billion in 2024 revenue, 400+ service centers, and a workforce of about 40,000 employees. The company announced plans in December 2024 to spin off as an independent publicly traded company.

What percentage of the LTL market do the top carriers control?

The LTL market is highly concentrated. The top 5 carriers control 50% of market share, the top 10 control 75%, and the top 25 carriers control 91% of all revenue ($48.2 billion of the $52.8 billion market). This leaves approximately 175 smaller carriers competing for the remaining 9%.

How big is the U.S. LTL market?

The U.S. LTL market was valued at $52.8 billion in 2024 and is projected to reach $114 billion in 2025, growing at a 4.13% CAGR to reach $139.6 billion by 2030 according to Mordor Intelligence.

What is the difference between regional and national LTL carriers?

Regional LTL carriers serve specific geographic areas (like the Southeast or Midwest) with dense local networks, typically offering faster transit times and lower minimum charges ($60-$80 vs. $100-$130) for short-haul shipments. National carriers provide coast-to-coast coverage with better rates for long-haul shipments and standardized service across all regions.

How much does LTL shipping typically cost?

LTL shipping costs typically range from $300 to $1,500 per delivery, or approximately $0.15 to $0.30 per pound. Current contract rates average $46.40 per hundredweight. Costs vary based on weight, distance, freight class, and accessorial services required.

What happened to Yellow Corporation?

Yellow Corporation (formerly YRC Worldwide) filed for bankruptcy in August 2023 after failing to reach labor agreements. The bankruptcy removed approximately $5 billion in annual capacity from the LTL market. Its freight was absorbed by other carriers throughout 2024, and many of its terminals were acquired by competitors like Saia.

Why are there so few LTL carriers compared to truckload carriers?

LTL operations require significant capital investment in terminal networks, sophisticated hub-and-spoke logistics systems, and technology platforms that create high barriers to entry. Unlike truckload carriers who can start with a single truck, LTL carriers need extensive infrastructure to consolidate and distribute freight efficiently.

Final thoughts

The U.S. LTL market represents a highly consolidated industry segment with approximately 200 active carriers competing for a $52.8 billion market. Unlike the fragmented truckload sector, high barriers to entry have created an environment where the top 25 carriers control over 90% of revenue.

Yellow Corporation’s 2023 bankruptcy accelerated consolidation trends, redistributing $5 billion in capacity and triggering acquisition activity across the sector. As the market grows toward a projected $114 billion by 2025, expect continued concentration as larger carriers leverage scale advantages in technology, network density, and service consistency.

For shippers, this market structure means relatively stable pricing and capacity compared to truckload markets, though with less flexibility. The most effective strategy often involves leveraging a mix of regional and national carriers to optimize for both cost and service requirements based on specific shipping lanes and volumes.

Sources & methodology

• Transport Topics — 2025 Top Less-Than-Truckload Carriers rankings
• Mordor Intelligence — U.S. LTL Market Size & Forecasts to 2030
• Grand View Research — Less-than-truckload Market Size and Share Report, 2030
• Red Stag Fulfillment — Largest LTL Carriers: Complete 2025 Rankings & Profiles
• SJ Consulting/Jindel — Top 25 LTL Carriers 2024 data
• IBISWorld — General Freight Trucking (Less Than Truckload) Industry Analysis, 2025
• Bureau of Labor Statistics — Truck Transportation: NAICS 484
• FreightWaves — LTL industry news and analysis
• Logistics Management — State of Logistics 2024: Less than truckload (LTL)
• Land Line Media — Historical LTL industry consolidation data