NAICS 484122 Quarterly Industry Report
General Freight Trucking, Long-Distance, Less Than Truckload
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 484122Sector: 48Updated: Q1 2026
About This Report
This NAICS 484122 industry report integrates data from the U.S. Census Bureau[5] transportation surveys, Bureau of Labor Statistics[6] employment and wage statistics for truck drivers and dock workers, and Small Business Administration[7] size standard tables. Fair Market Value researchers supplement these federal sources with LTL carrier tonnage reports and freight rate index data to produce quarterly updates. Each NAICS 484122 report revision captures shipment volumes, pricing trends, and competitive dynamics across the long-distance LTL trucking sector.
Industry Snapshot
Key metrics for the general freight trucking, long-distance, less than truckload industry.
Industry Definition & Overview
General Freight Trucking, Long-Distance, Less Than Truckload (NAICS 484122) encompasses establishments primarily engaged in providing long-distance general freight less-than-truckload (LTL) trucking services. LTL carriers combine shipments from multiple shippers onto single trailers, moving freight through hub-and-spoke terminal networks that include local pickup, terminal sorting, line-haul transport between cities, destination sorting, and local delivery. FedEx Freight, Old Dominion, XPO, and Saia rank among the largest national LTL operators.
The U.S. Census Bureau[5] separates LTL operations from truckload carriers (484121) that transport full trailer loads point-to-point without consolidation, and from local freight truckers (484110) serving metropolitan delivery markets. LTL shipments typically weigh between 150 and 15,000 pounds and travel on pallets through multiple handling points between origin and destination. Terminal density and geographic coverage determine a carrier's ability to offer transit times competitive with truckload alternatives.
LTL economics depend on trailer load factor, the percentage of available trailer capacity filled with paying freight. Dock workers sort and stage shipments at terminals during overnight shifts, and line-haul drivers move loaded trailers between terminals during nighttime hours to meet morning delivery windows. Pricing follows class-based freight classification systems that account for density, handling characteristics, and liability exposure. Technology investments in shipment tracking, dock management software, and dynamic routing have improved service reliability and reduced claims rates across the major carriers. Labor costs at terminal facilities and driver wages represent the two largest expense categories for all LTL operations.
What's Included in This Industry
- Providing long-distance less-than-truckload freight transportation through terminal networks
- Operating hub-and-spoke LTL terminal systems for freight consolidation and sorting
- Running line-haul trailer service between LTL terminals in different metropolitan areas
- Providing local pickup and delivery of LTL shipments at origin and destination terminals
- Handling palletized freight shipments between 150 and 15,000 pounds on LTL networks
- Operating cross-dock terminal facilities for LTL freight sorting and staging
- Providing guaranteed delivery LTL service with time-definite transit commitments
- Running regional LTL service connecting nearby metropolitan areas through direct routes
- Offering volume LTL service for shipments too large for standard LTL but below truckload size
- Providing freight claims processing and shipment tracking across LTL terminal networks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Truck Transportation | 484 |
| Industry Group | General Freight Trucking | 4841 |
| NAICS Industry | General Freight Trucking, Long-Distance | 48412 |
| National Industry | General Freight Trucking, Long-Distance, Less Than Truckload | 484122 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 484121 | General Freight Trucking, Long-Distance, Truckload | Truckload carriers transport full trailer loads point-to-point, competing with LTL carriers for shipments that approach or exceed the truckload break-even weight threshold |
| 484110 | General Freight Trucking, Local | Local freight trucking companies provide the pickup and delivery legs that connect LTL terminal operations with shipper and receiver locations |
| 493110 | General Warehousing and Storage | General warehousing facilities generate LTL freight volumes as stored goods move to distribution points and customer delivery locations |
| 488510 | Freight Transportation Arrangement | Freight transportation arrangement companies broker shipments that may move via LTL carriers depending on size, weight, and transit requirements |
| 492110 | Couriers and Express Delivery Services | Courier and express delivery services compete with LTL carriers for smaller, time-sensitive shipments moving between business locations |
| 484220 | Specialized Freight (except Used Goods) Trucking, Local | Specialized local freight trucking handles flatbed, tanker, and other non-palletized loads that LTL general freight carriers do not transport |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | New Jersey | 10.7% | 1,193 |
| 2 | California | 10.6% | 1,190 |
| 3 | Texas | 7.3% | 819 |
| 4 | Illinois | 6.5% | 726 |
| 5 | Wisconsin | 5.1% | 570 |
| 6 | Florida | 4.6% | 513 |
| 7 | Georgia | 4.1% | 460 |
| 8 | Pennsylvania | 3.9% | 436 |
| 9 | Virginia | 3.7% | 411 |
| 10 | Michigan | 3.5% | 387 |
% Of Establishments
0%
11%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
688
Total SBA Loans
$180.0M
Total Loan Volume
$262K
Average Loan Size
10 yrs
Average Loan Term
11.53%
Average Interest Rate
4,656
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The Small Business Administration[8] sets the size standard for NAICS 484122 at $30 million in average annual receipts. Regional LTL carriers and smaller operators below this threshold qualify as small businesses. SBA 7(a) loans[9] can finance truck and trailer equipment, terminal improvements, and working capital for LTL freight operations. The SBA 504 program[10] supports terminal construction, dock expansion, and major equipment investments for owner-operated LTL trucking companies.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | First Bank of Central Ohio | 8 | $40.0M | $5.0M |
| 1 | Pathward National Association | 8 | $40.0M | $5.0M |
| 3 | Lendistry SBLC, LLC | 152 | $32.5M | $214K |
| 4 | Cadence Bank | 8 | $17.0M | $2.1M |
| 5 | Harvest Small Business Finance, LLC | 16 | $15.3M | $956K |
Frequently Asked Questions
Common questions about this industry.
What businesses are classified under NAICS 484122?
NAICS 484122 covers LTL carriers operating terminal networks for consolidating and transporting partial trailer loads of general freight between distant cities. National, regional, and specialty LTL operators qualify. The U.S. Census Bureau[5] provides the official classification.
How is NAICS 484122 different from truckload trucking?
LTL carriers (484122) consolidate multiple shipments onto single trailers through terminal networks, while truckload operators (484121) move full loads point-to-point. The Census Bureau[11] distinguishes them by shipment consolidation method.
What is the SBA size standard for LTL carriers?
The SBA sets the size standard at $30 million in average annual receipts for NAICS 484122. Regional and smaller LTL operators may qualify. Current standards appear in the SBA table of size standards[7].
Which NAICS codes relate most closely to 484122?
Key related codes include 484121 for truckload carriers, 484110 for local trucking, 493110 for warehousing, 488510 for freight brokers, and 492110 for express delivery. Each connects to the LTL freight ecosystem.
What industries interact with LTL carriers?
Truckload carriers (484121) compete for larger loads, freight brokers (488510) route shipments, warehouses (493110) generate volume, express services (492110) handle small parcels, and local truckers (484110) provide terminal connections. Manufacturing and wholesale distribution sectors produce the majority of LTL shipping demand.
What activities does NAICS 484122 include?
Activities cover operating LTL terminal networks, freight sorting and cross-docking, line-haul transport, local pickup and delivery, volume LTL service, and guaranteed transit offerings. The Census definition[5] covers the full scope.
Can LTL carriers get SBA loans?
LTL operators with receipts under $30 million qualify for SBA 7(a) loans covering equipment, terminal costs, and working capital. The 504 program funds terminal and dock investments. Details are at the SBA funding programs page[12].
Where are LTL operations concentrated?
LTL terminals concentrate near major metropolitan freight markets including Chicago, Atlanta, Dallas-Fort Worth, Los Angeles, and the Northeast corridor. Break-bulk terminals in centrally located cities like Memphis, Indianapolis, and Columbus serve as network sorting hubs connecting regional pickup and delivery operations.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]Small Business Administration sba.gov
- [8]Small Business Administration sba.gov
- [9]SBA 7(a) loans sba.gov
- [10]SBA 504 program sba.gov
- [11]Census Bureau census.gov
- [12]SBA funding programs page sba.gov
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