The global logistics market is expected to grow at a CAGR of 7.2% during the forecast period.
Logistics entail the safe transportation of goods from origin to destination by catering to demands of clients or corporations. The coordination required in the supply chain of major enterprises is played by logistics companies aligning functions of transportation, shipping, and storage of goods. The global logistics market report by Market Research Future (MRFR) unveils new developments in technologies for fast delivery of goods and provides projections on size and revenue patterns for the period of 2017 to 2023 (forecast period). The COVID-19 pandemic and its impact on the industry are noted in the report.
It is projected to expand owing to international trade and exchange of commodities between nations. Favorable trade policies, ease in manufacturing activities, and investments in new businesses can fare well for the market. The boom witnessed in the ecommerce sector and rise in online shopping amid development of logistic related parks and hubs can bolster the market growth in the coming years.
The COVID-19 pandemic has negatively affected the market owing to restriction on movement orders by governments for protecting citizens against the virus and curbing the number of cases. The market is deemed to experience a depressing growth rate over the forecast period due to geopolitical tensions and trade disputes. Decline in commodities and supply of raw materials can pose a challenge to the market, however the market may recover after 2020.
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The global logistics market has been segmented by transportation type, logistic type, and end-user industry.
- On the basis of the transportation type, the market is segmented into roadways, airways, waterways, and railways.
- On the basis of logistic type, the market has been segmented into first party, second party, and third party. The second-party logistics segment accounted for the largest market share.
- By end-user, the market has been segmented into industrial and healthcare, manufacturing, retail, oil & gas, and others. The manufacturing segment accounted for the largest market share. Factors such as policy reforms that improved the ease of doing business along with the easy availability of cheap labor contribute to the growth of the market. Moreover, globalization coupled with population growth and consumption behavior has seen ever-increasing demand for products from all corners of the world. The rise of e-commerce has added to the transport boom, and over the past decade, a considerable growth has been seen across the industry’s value chain as a whole.
Geographically, the global logistics market has been divided into four major regions: North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). The APAC region is accounted for the largest share of the global market in 2016 followed by North America and Europe. It is expected to grow at the highest CAGR during the forecast period. Increased adoption of outsourced logistics services in the region is driving the growth of the market. Increasing imports and exports along with a huge demand for logistics services due to economic growth and urbanization are driving the manufacturers to trade across the globe. China is the largest logistics market in the region due to a huge population in the country and the presence of a large manufacturing base.
North America is the second largest region in the market. Increasing trading between the Americas and Europe are driving the growth of the market in this region. Rising demand for foreign goods in India, Indonesia, and Thailand has strengthened the trade relations with the U.S.
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- XPO Logistics Inc.
- DSV Global Transports and Logistics
- Ceva Holdings LLC
- FedEx Corp.
- C.H. Robinson Worldwide, Inc.
- Schenker AG
- A.P. Moller – Maersk
- DTDC Express Limited
- Expeditors International of Washington, Inc.
- DHL International GmbH
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