10.2.3.2Vertical

Full Truckload Brokerage

Brokers arranging FTL shipments between shippers and carriers.

Market snapshot

These figures describe Domestic Freight Brokerage (10.2.3), the segment that Full Truckload Brokerage sits within — not Full Truckload Brokerage on its own.

Market size
~$135B
Growth
~15.8%CAGR (2017–22, nominal)
Companies
~22,400
FragmentationFragmentedEstimate

U.S. Census Bureau 2022 CBP/Economic Census, NAICS 488510 (freight transportation arrangement) — domestic brokerage is the largest component; international, customs, and ocean arrangement are profiled separately. Reflects the 2021–22 freight boom.

Business model & economics

Revenue model

Truckload/LTL brokerage margin (rate spread)

Key economics

Recurring revenue
Moderate

recurring shippers; spot exposure

EBITDA margin
Asset-light; highly cyclical margins
Capex intensity
Low

Characteristics

  • Led by C.H. Robinson, TQL, Echo, Coyote.
  • Highly cyclical; squeezed in the 2023–24 recession.
  • Technology and carrier networks the key assets.

M&A deal context

Deal activityHigh

Who’s acquiring

  • Brokerage majors
  • PE-backed brokerage platforms
  • Digital-freight disruptors

What’s driving deals

  • Freight-recession-driven consolidation.
  • Technology and automation investment.
  • Roll-up of fragmented brokers.

Find Full Truckload Brokerage acquisition targets

Search Acquisera’s index for companies classified under Full Truckload Brokerage (10.2.3.2) and build a targeted deal pipeline.

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