Consolidation Follows Route Density Rather Than Revenue
Acquisitions in this market succeed or fail on geographic overlap rather than on the revenue acquired. A competitor whose units sit within existing rounds adds stops at almost no marginal cost, while one in an adjacent territory brings a whole route structure and the vehicles and depot to run it. Operators who understood the distinction bought accordingly and now hold density that late entrants cannot assemble, because the useful acquisitions have already been completed. That is why national revenue share tells you very little about this market. A small dense operator routinely beats a large dispersed one.
Market Impact: Requires 1 unit per 10 workers








