New York, United States, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The market of third party logistics (3PL) is anticipated to progress at a decent pace during the forecast year. The third party logistics (3PL) services provide complete control over the meticulous and intricate tasks, such as freight forwarding, fulfillment operations, warehouse management, and inventory forecasting. Additionally, the strong presence of the distribution network of the service providers drives the market growth.
The third party logistics also provide management of demand fluctuations and help the manufacturers to make their products available and generate higher demand prospects in a particular period. The service providers also maintain better warehouse management and help the manufacturers maintain inventory stocks, where the company does not possess any infrastructure facility and serves as a warehouse.
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COVID-19 Impact
Due to the COVID-19 outbreak, manufacturing has taken a serious hit in terms of the production and demand for the products. The demand for third party logistics (3PL) is also expected to decrease in 2020 and 2021. The disruption in the supply chain and value chain, brief periods of lockdown and shutdown, and restrictions on entering the foreign boundaries hamper the market growth.
Report Scope
| Report Metric | Details |
| Market Size | USD 2018.22 Billion by 2030 |
| CAGR | 8.58% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Mode of Transport, Industry Vertical, Service, Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | H. Robinson Worldwide (CHRW) Inc.,FedEx Corporation,Nippon Express Co.,BDP International,XPO LogisticsInc,DB Schenker Logistics,Burris Logistics,CEVA Logistics,Kuehne + Nagel International AG,DSV Panalpina A/S,Yusen Logistics Co. Ltd. (Nippon Yusen),UPS Supply Chain Solutions Ltd.Inc. |
| Key Market Opportunities | Better Warehousing Management Solutions to Focus on Growth across Potential Regions in Market |
| Key Market Drivers | Increasing trend of utilization of these services due to the emergence of distribution outsourcing |
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Regional Analysis
As a result of the increasing number of partnership and collaboration activities among third-party logistic providers, the market for third-party logistics is dominated by North America. The use of third-party logistics (3PL) service providers accounts for approximately 12.4% of the total number of logistical activities. It is anticipated that the Asia-Pacific region would experience the most rapid expansion in the third-party logistics (3PL) market. In the Asia-Pacific region's third-party logistics market, it is projected that China will emerge as a prominent contributor in the near future.
Key Highlights
- The global third party logistics (3PL) market size was valued at USD 962.1 billion in 2021. It is projected to reach USD 2018.22 billion by 2030, growing at a CAGR of 8.58% during the forecast period (2022-2030)
- North America dominates the market on account of the presence of a third party logistics service providers and manufacturers
- Asia-Pacific is projected to procure the fastest pace of growth in the market. China has emerged as a center of product sourcing and a substantial consumer of raw materials. Additionally, the increasing effort made by India and Vietnam to progress in marine transportation and logistics operations drives the market growth
Key Players
- C.H. Robinson Worldwide (CHRW) Inc.
- FedEx Corporation
- Nippon Express Co., Ltd.
- BDP International
- XPO LogisticsInc
- DB Schenker Logistics
- Burris Logistics
- CEVA Logistics
- Kuehne + Nagel International AG
- DSV Panalpina A/S
- Yusen Logistics Co. Ltd. (Nippon Yusen)
- UPS Supply Chain Solutions, Inc.
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Third Party Logistics (3PL) Market: Segmentation
By Mode of Transport
- Ground/Roadways Transport
- Waterways/ Maritime Transport
- Railways Transport
- Air Transport
By Industry Vertical
- E-commerce and Retail
- Healthcare and Pharmaceuticals
- Manufacturing
- Automotive
By Service
- Freight forwarding
- Warehousing and Distribution (W&D)
- Domestic Transportation Management (DTM)
- Value-Added Logistics Services (VALs)
- International Transportation Management (ITM)
By Region
- North America
- Europe
- The Middle East and Africa (MEA)
- Asia-Pacific
- South America
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Market Overview
3.1 Report Segmentation & Scope
3.2 Value Chain Analysis: Third Party Logistics (3PL) Market
3.3 Key Market Trends
3.3.1 Drivers
3.3.2 Restraints
3.3.3 Opportunities
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of Substitution
3.4.4 Threat of New Entrants
3.4.5 Competitive Rivalry
3.5 Impact of Corona on Market
3.6 Market Share Analysis
4 Mode of Transport Overview
4.1 Introduction
4.1.1 Market Size & Forecast, 2020-2030, (USD Million)
4.2 Ground/Roadways Transport
4.2.1 Market Size & Forecast, 2020-2030, (USD Million)
4.3 Waterways/ Maritime Transport
4.3.1 Market Size & Forecast, 2020-2030, (USD Million)
4.4 Railways Transport
4.4.1 Market Size & Forecast, 2020-2030, (USD Million)
4.5 Air Transport
4.5.1 Market Size & Forecast, 2020-2030, (USD Million)
5 Industry Vertical Overview
5.1 Introduction
5.1.1 Market Size & Forecast, 2020-2030, (USD Million)
5.2 E-commerce and Retail
5.2.1 Market Size & Forecast, 2020-2030, (USD Million)
5.3 Healthcare and Pharmaceuticals
5.3.1 Market Size & Forecast, 2020-2030, (USD Million)
5.4 Manufacturing
5.4.1 Market Size & Forecast, 2020-2030, (USD Million)
5.4 Automotive
5.4.1 Market Size & Forecast, 2020-2030, (USD Million)
5.4 Others
5.4.1 Market Size & Forecast, 2020-2030, (USD Million)
6 Service Overview
6.1 Introduction
6.1.1 Market Size & Forecast, 2020-2030, (USD Million)
6.2 Freight forwarding
6.2.1 Market Size & Forecast, 2020-2030, (USD Million)
6.3 Warehousing & Distribution (W&D)
6.3.1 Market Size & Forecast, 2020-2030, (USD Million)
6.4 Domestic Transportation Management (DTM)
6.4.1 Market Size & Forecast, 2020-2030, (USD Million)
6.5 Value-Added Logistics Services (VALs)
6.5.1 Market Size & Forecast, 2020-2030, (USD Million)
6.6 International Transportation Management (ITM)
6.6.1 Market Size & Forecast, 2020-2030, (USD Million)
7 Regional Analysis
7.1 Introduction
6.1.1 Market Size & Forecast, 2020-2030, (USD Million)
7.2 North America
7.2.1 Market Size & Forecast, 2020-2030, (USD Million)
7.2.2 THE U.S.
7.2.2.1 By Mode of Transport
7.2.2.2 By Industry Vertical
7.2.2.3 By Service
7.2.3 Canada
7.2.3.1 By Mode of Transport
7.2.3.2 By Industry Vertical
7.2.3.3 By Service
7.2.4 Mexico
7.2.4.1 By Mode of Transport
7.2.4.2 By Industry Vertical
7.2.4.3 By Service
7.3 Europe
7.3.1 Market Size & Forecast, 2020-2030, (USD Million)
7.3.2 Germany
7.3.2.1 By Mode of Transport
7.3.2.2 By Industry Vertical
7.3.2.3 By Service
7.3.3 France
7.3.3.1 By Mode of Transport
7.3.3.2 By Industry Vertical
7.3.3.3 By Service
7.3.4 THE U.K.
7.3.3.1 By Mode of Transport
7.3.3.2 By Industry Vertical
7.3.3.3 By Service
7.3.5 Italy
7.3.5.1 By Mode of Transport
7.3.5.2 By Industry Vertical
7.3.5.3 By Service
7.3.6 Spain
7.3.6.1 By Mode of Transport
7.3.6.2 By Industry Vertical
7.3.6.3 By Service
7.3.7 Benelux
7.3.7.1 By Mode of Transport
7.3.7.2 By Industry Vertical
7.3.7.3 By Service
7.3.8 Russia
7.3.8.1 By Mode of Transport
7.3.8.2 By Industry Vertical
7.3.8.3 By Service
7.3.9 The Rest of Europe
7.3.9.1 By Mode of Transport
7.3.9.2 By Industry Vertical
7.3.9.3 By Service
7.4 Asia-Pacific
7.4.1 Market Size & Forecast, 2020-2030, (USD Million)
7.4.2 Japan
7.4.2.1 By Mode of Transport
7.4.2.2 By Industry Vertical
7.4.2.3 By Service
7.4.3 China
7.4.3.1 By Mode of Transport
7.4.3.2 By Industry Vertical
7.4.3.3 By Service
7.4.4 Australia
7.4.4.1 By Mode of Transport
7.4.4.2 By Industry Vertical
7.4.4.3 By Service
7.4.5 India
7.4.5.1 By Mode of Transport
7.4.5.2 By Industry Vertical
7.4.5.3 By Service
7.4.6 South Korea
7.4.6.1 By Mode of Transport
7.4.6.2 By Industry Vertical
7.4.6.3 By Service
7.4.7 Southeast Asia
7.4.7.1 By Mode of Transport
7.4.7.2 By Industry Vertical
7.4.7.3 By Service
7.4.8 Taiwan
7.4.8.1 By Mode of Transport
7.4.8.2 By Industry Vertical
7.4.8.3 By Service
7.4.9 The Rest of Asia-Pacific
7.4.9.1 By Mode of Transport
7.4.9.2 By Industry Vertical
7.4.9.3 By Service
7.5 MEA
7.5.1 Market Size & Forecast, 2020-2030, (USD Million)
7.5.2 Saudi Arabia
7.5.2.1 By Mode of Transport
7.5.2.2 By Industry Vertical
7.5.2.3 By Service
7.5.3 South Africa
7.5.3.1 By Mode of Transport
7.5.3.2 By Industry Vertical
7.5.3.3 By Service
7.5.4 THE UAE
7.5.4.1 By Mode of Transport
7.5.4.2 By Industry Vertical
7.5.4.3 By Service
7.5.5 Egypt
7.5.5.1 By Mode of Transport
7.5.5.2 By Industry Vertical
7.5.5.3 By Service
7.5.6 The Rest of MEA
7.5.6.1 By Mode of Transport
7.5.6.2 By Industry Vertical
7.5.6.3 By Service
7.6 South America
7.6.1 Market Size & Forecast, 2020-2030, (USD Million)
7.6.2 Brazil
6.6.2.1 By Mode of Transport
6.6.2.2 By Industry Vertical
6.6.2.3 By Service
7.6.3 Argentina
6.6.3.1 By Mode of Transport
6.6.3.2 By Industry Vertical
6.6.3.3 By Service
7.6.4 Chile
6.6.4.1 By Mode of Transport
6.6.4.2 By Industry Vertical
6.6.4.3 By Service
7.6.5 Peru
7.6.5.1 By Mode of Transport
7.6.5.2 By Industry Vertical
7.6.5.3 By Service
7.6.6 The Rest of South America
7.6.6.1 By Mode of Transport
7.6.6.2 By Industry Vertical
7.6.6.3 By Service
8 Company Profile
8.1 C.H. Robinson Worldwide (CHRW) Inc.
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Recent Developments
8.1.4 Product Portfolio
8.2 FedEx Corporation
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Recent Developments
8.2.4 Product Portfolio
8.3 Nippon Express Co., Ltd.
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Product Portfolio
8.4 BDP International
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Recent Developments
8.4.4 Product Portfolio
8.5 XPO Logistics Inc
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Recent Developments
8.5.4 Product Portfolio
8.6 DB Schenker Logistics
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Recent Developments
7.6.4 Product Portfolio
8.7 Burris Logistics
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Recent Developments
8.7.4 Product Portfolio
8.8 CEVA Logistics
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Recent Developments
8.8.4 Product Portfolio
8.9 Kuehne + Nagel International AG
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Recent Developments
8.9.4 Product Portfolio
8.10 DSV Panalpina A/S
8.10.1 Company Overview
8.10.2 Financial Performance
8.10.3 Recent Developments
8.10.4 Product Portfolio
8.11 Yusen Logistics Co. Ltd. (Nippon Yusen)
8.11.1 Company Overview
8.11.2 Financial Performance
8.11.3 Recent Developments
8.11.4 Product Portfolio
8.12 UPS Supply Chain Solutions
8.12.1 Company Overview
8.12.2 Financial Performance
8.12.3 Recent Developments
8.12.4 Product Portfolio
Table of Content and Figure @ https://straitsresearch.com/report/third-party-logistics-market/toc
News Media
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