Logistics Market to Rise at CAGR of 6.80% Through 2030 – Report by Market Research Future
Research Reports
Feb 07, 2023
Logistics Market Size was valued at USD 9,45,963.8 million in 2021. The logistics industry is projected to grow from USD 10,10,289.34 million in 2022 to USD 16,01,196.16 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2022 – 2030).
The global logistics market is growing persistently. Factors such as the rising landscape of international trades and the global economy drive market growth. Besides, increasing advances in integrated solutions, such as security management, warehousing, information & inventory management, packaging, material handling, and transportation, boost the market size.
Rapid urbanization and economic growth worldwide, alongside the changing lifestyles of consumers, escalate the market value further. Additionally, large advances in logistics technology led by the rising R&D funding and initiatives by public-private sectors push the market value.
Favorable government trade policies offer significant expansion opportunities to vendors, increasing the demand for logistic services. Simultaneously, economic reforms and government initiatives to strengthen manufacturing sectors attract vast investments.
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Global Logistics Market – Segmentation
The market is segmented into transportation type, logistic type, end-user industry, and region. The transportation type segment is bifurcated into waterways, airways, roadways, and railways.
The logistic type segment is bifurcated into first, second, and third-party logistics. The End-user segment is bifurcated into retail, industrial & manufacturing, oil & gas, healthcare, and others. By regions, the market is bifurcated into Europe, the Asia Pacific, Americas, MEA, and rest-of-the-world.
Logistics Market – Regional Analysis
APAC dominates the global logistics market, accounting for a significant market share. Factors such as the increased trades in domestic and international markets, alongside the rising adoption of outsourced logistic services, drive the market growth. Besides, increasing imports & exports and the huge demand for logistic services due to the economic growth and urbanization boost the market size.
Moreover, substantial investments in developing technologies and upgrades in the logistic industry increase the region’s market share. China, Japan, India, Australia, and Indonesia account for sizable shares in the APAC logistics market due to the ever-increasing population and large manufacturing base in these countries.
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Global Logistics Market – Competitive Landscape
With the presence of several well-established players, the global market for logistics appears to be highly competitive. Well-established players incorporate acquisition, collaboration, partnership, expansion, and technology launch to gain a larger competitive advantage in this market. Heavy investments are made to drive R&D activities and expansion plans.
MOLLER – MAERSK, H. Robinson Worldwide Inc., DSV (DSV Panalpina), FEDEX, GEODIS, Kuehne+Nagel, Nippon Express, and United Parcel Service Inc. (UPS)
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