TIA Releases 3rd Quarter Performance Measures for 3PL Industry
FOR IMMEDIATE RELEASE
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The 3PL Market Report reflects that the Q320 numbers were dominated by the effects of COVID lockdowns, reports TIA Chief Economist, Noël Perry. Perry also notes that uncertainties may arise in the future but not as robust as Q3.
The report represents that for Q3 total invoice amount per shipment, shipments, and revenue improved by 10.6%, 16%, and 28.3%, respectively, compared to Q2.
The impact of COVID on freight was noticeable for Truckload with volume returning to Q119 levels. The data also indicates shippers relied on 3PLs more as 3PL TL volume grew more than the overall TL market.
The study participants reported activity in six modes or services offered. TL remains the dominant mode at 73%. Adding Intermodal and LTL, the three modes are 97% of all activity. The remaining 3% of activity comprises air, warehousing, and other miscellaneous services.
TIA’s 3PL Market Report contains rolling eight-quarter trends and fuel price comparisons, allowing 3PLs and industry observers to view how the industry is performing as well as to compare their business to companies of a similar size. Additionally, the report includes detailed 3PL activities by transportation mode and measures comparative volume, revenue, margin, and margin percentages, quarterly, and year over year.
The publication is based on monthly data submissions and surveys of TIA Members who provide current operating data and answer questions on business conditions affecting the 3PL industry. TIA’s efforts provide a comprehensive report on the trends and practices of the 3PL industry.
For additional questions, contact Cindy Amos (firstname.lastname@example.org or 703.299.5710).