AVAILABLE NOW: First Quarter 2021 3PL Market Report
The most recent 3PL Market Report reflects that as the governmental and psychological restrictions from the COVID-19 pandemic fade, truck market conditions are now dominated two factors. The first is the combination of unprecedented federal stimulus to the economy and an era of good feelings among consumers and businesses. The result is a booming economy and the associated elevated freight demand, reports TIA Chief Economist Noël Perry.
The second factor is a broad combination of supply chain constraints, tight labor markets, shortages of key materials, infrastructure bottlenecks, transport capacity shortages. While we have avoided large-scale supply failures so far, widespread delays in receipt of goods have produced measurable effects on the macro-economy for the first time since World War II.
The report shows that for Q121 the total invoice amount per shipment, and total revenue improved by 2.1% and 0.5% respectively, while total shipments decreased by 1.6% compared to Q420.
"Although all modes experienced tightness in Q4 and Q1, TL grew sharply in Q1 while IM and LTL we mostly flat," said Perry. "Note that TL volumes grew Q1 vs Q4 and that is not typically normal coming out of peak season. Another large increase for the other category of Ocean and warehousing, but still a small percent of the total mix."
3PL Market Report subscribers can now compare the TIA data with the market to ascertain whether brokerage players are gaining or losing vis-a-vis the market. In the Q121 report, subscribers will find that TIA Members are performing well above industry averages.
ABOUT THE TIA 3PL MARKET REPORT:
Your subscription to the TIA 3PL Market Report includes rolling eight-quarter trends and fuel price comparisons and allows 3PLs and industry observers to view how the industry is performing as well as to compare their business to companies of a similar size. Each report also includes a summary by TIA Chief Economist, Noël Perry.
TIA’s 3PL Marketing Report is a quarterly report that gathers operating data to present a realistic view of the 3PL industry. The report includes detailed 3PL activities by transportation mode and measures comparative volume, revenue, margin and margin percentages, and quarterly and year over year.
"We continue to enhance the report with information to help benchmark and understand trends that impact our industry. We thank Noël Perry for his contribution as we have added additional metrics that provide a broader perspective."
Vice President of Transportation - Matson Logistics
Chair - TIA 3PL Market Report Committee