Huge Growth And Opportunities in Global Logistics Market Till 2023

Posted September 4, 2019 by monicanerkar31

Market Research Future added New Report Named "Global Logistics Market Research Report- Forecast 2023" to its Database

Global Logistics Market Information Report: By Transportation Type (Airways, Waterways, Railways, Roadways), Logistic Type (First Party, Second Party, Third Party) End User (Industrial and Manufacturing, Retail, Healthcare, Oil & Gas) - Forecast 2023

The effective transportation and storage of goods have gained a great deal of emphasis in recent years contributing to the market’s expansion. Focused market reports associated with the healthcare industry among others lately have been made available by Market Research Future which issues reports on this industry. The market is foreseen to expand at a CAGR of 7.2 percent approximately in the forecast period.

As customer requirements have increased rapidly due to rising demand for local as well as international goods, the market is also undergoing rapid expansion. The economic growth rates globally and the rise in the global trade has increased the market size considerably. Government trade policies are also contributing to the growth of the market substantially. Development in the port-services, shipping, transportation, warehousing areas of the logistic chain are also important motivators for the development of the market.

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Industry Segments

The logistics market has been segmented on the basis of transportation end-user industry, type, and logistic type. The transportation type segment of the market consists of waterways, airways, railways, and roadways. The logistic type based segmentation of the market comprises of third party, the second party, and first party. The second-party logistics segment is responsible for the major market share. By end user, the market has been segmented into retail, healthcare, industrial and manufacturing, oil & gas, and others.

Detailed Regional Analysis

The regional analysis of the logistics market includes regions such as North America, Asia Pacific, Europe, and Rest of the World. The Asia Pacific region was responsible for the largest share of the global market in 2016, followed by the North American and European region. The Asia Pacific region is projected to develop at a gradually increasing CAGR during the forecast period. Amplified adoption rates of outsourced logistics services in the region is motivating the development of the market. Growing exports and imports along with an enormous demand for logistics services owing to the economic development and urbanization that is motivating the manufacturers to trade across the globe. Japan, China, Australia, India, and Indonesia are the chief markets in the Asia Pacific region. China is the principal logistics market in the region owing to a huge population base in the country and the prevalence of a big manufacturing hub.

The North American region is the second major region in the market. Growing trade activities amid the Americas and European region are motivating the development of the market in this region. Rising demand for foreign goods in Thailand, Indonesia, and India have reinforced the trade relations with the U.S. The European region is another chief region in the market. The U.K., Germany, and France are the key logistics markets.

Global Competitive Analysis

The important trends and players have established a positive tone for development. The inducement for the market’s growth has improved the competitive backdrop of the market. By ensuring supply and demand are in balance, the competitors can capture new opportunities for growth. The noticeable trends and players have led to a positive tone for development. The forecast for growth and innovation has improved at a prompt pace changing the market. The ideal opportunities are being engaged and converted to modifying the growth pace of the market substantially. The contenders in the market have been stimulated to ideate strategic road-maps that exploit on the constructive market cues.

The important competitors in the logistics market globally comprise of Ceva Holdings LLC (U.K.), C.H. Robinson Worldwide, Inc. (U.S.), XPO Logistics Inc. (U.S.), FedEx Corp. (U.S.), DSV Global Transports and Logistics (Denmark), Expeditors International of Washington, Inc. (U.S.), DHL International GmbH (Germany), A.P. Moller – Maersk (Denmark), Schenker AG (Germany), DTDC Express Limited (India), GEODIS (France), and other.

Industry Updates:

June 2018 Siam Cement Group which is a well-known Thai industrial conglomerate has formed a joint venture with Hon Hai Precision Industry which is a Taiwanese electronics manufacturer and Apple supplier to jointly set up an integrated supply and logistics chain in south China. The venture is expected to tap into rising e-commerce in the region by positioning Siam Cement's expertise in the area of logistics and engaging the vast business network of Hon Hai, more commonly known as Foxconn Technology Group. Siam Cement has stated that the JV is valued at approximately 333 million baht ($10 million), of which the company will own 49 percent. It will emphasize on trade between southern China and nations in the Association of Southeast Asian Nations particularly in the areas of premium foods, high-tech electronics, and e-commerce.

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Last Updated September 4, 2019