, as the housing market and other economic sectors show signs of recession, the abnormal tension in the labor market has not eased, and consumer spending has weakened, the US economy is likely to slow down its growth rate or even fall into recession in the first half of this year. Many LTL carriers are building or expanding terminals and adding services, with more freight expected by then.

Geoff, chief marketing officer for Pitt, Ohio, said Muessig, "People are planning their next rise, and many other LTL carriers are also on the move, adding services and facilities at a time when they may expect to surround the trailer around the dock."

the rise may not materialize until the second half of 2023, trucking executives see it coming.

According to the U.S. Bureau of Labor Statistics (BLS), the LTL market is in better shape than the vehicle transportation industry. Although its development trajectory and growth rate have slowed down, the price of LTL remains high.

"I do believe that the inventory destocking and smaller shipments we saw last quarter will continue in this quarter," Forward Air CEO Tom Schmitt said in an interview. "We will achieve more stable traffic again in the second half of this year."

this slowdown has not reduced the competitiveness of the market. Conversely, the proliferation of new establishments and terminals indicates that LTL carriers are fiercely competing for customers. Muessig noted that prior to the pandemic, the consolidation of "core carriers" into a minority was the goal of shippers. That was before widespread supply chain disruptions and capacity shortages proved the value of providing more options in the form of more carriers arriving at the docks.

LTL capacity is still limited. According to data from SJ Consulting Group, a logistics consulting and analysis company, the 25 largest LTL carriers in the United States have lost 10% of their capacity in the past 3 years as measured by the number of terminals. The 25 airlines had 065,2012 terminals in 3 years and 966,2022 terminals in 2 years, the company said.

LTL carriers have handled large quantities of cargo over the past decade without a significant increase in total LTL capacity. "They are moving more goods in their way, improving productivity and reducing operating rates. LTL carriers are expanding existing facilities instead of building new ones." SJ Consulting Group and ShipMatrix President Satish Jindel said.