Pune, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The market is expected to grow from USD 243.5 Billion in 2021 to USD 437.52 Billion in 2029, at a CAGR of 7.6 percent over the forecast period from 2022 to 2029, according to the "Contract Logistics Market" research released by Maximize Market Research.
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Contract Logistics Market Scope and Research Methodology
The Contract Logistics Market research report new product launches and the expansion of already existing businesses are expected to benefit the key players in maintaining their dominance in the global market of Contract Logistics Market. Market segmentation analysis includes qualitative and quantitative research incorporating the impact of economic and policy aspects. The report covers regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market, competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players, and comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
The research report involves the extensive usage of both primary and secondary data sources. The research process involves the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industries, and market risks, opportunities, market barriers, and challenges.
Contract Logistics Market Overview
The contract logistics market provides value-added services, transportation and warehousing also, it provides after-market service, planning, and production activities. Increasing adoption of IoT and innovation in technologies also, logistics companies are expected to utilize artificial technology expected to drive the contract logistics market demand during the forecast period.
The market is expected to increase as a result of the expanding e-commerce sector, rising food and beverage consumption, rising urbanization levels, rising consumer confidence index, and growing emphasis on environmentally friendly supply chains. However, the lack of trained workers in developing nations and the fierce rivalry will hinder the industry's expansion. Increasing consolidation activities, technical improvements, widespread acceptance of the internet of things (iot), and the emergence of blockchain services are a few prominent themes.
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Contract Logistics Market Dynamics
Software for logistics management that is cloud-integrated makes it possible to track, change, and monitor pricing and inventory in real-time. Cloud-based logistics software offers real-time accuracy and complete system and process management. It makes it possible to trace a single shipment at every point in its trip, reroute a missing consignment, and save a lot of money on lost items and late deliveries. Thanks to cloud-based logistics software, all players in a trade network may join and exchange data in real-time, make rapid decisions, and grow to meet the needs of the contract logistics market.
Systems for supply chains that are cloud-based SaaS offer a number of benefits. It provides a holistic perspective of all logistical activities by increasing transparency and teamwork. Putting in place a cloud infrastructure reduces both the upfront and recurring expenditures. Additionally, it increases the effectiveness of the supply chain in the contract logistics market and offers the potential to scale up to meet the needs of the company.
Contract Logistics Market Regional Insights
North America held a 56% share of the market in 2021. The North American region is expected to grow significantly throughout the forecast period. Increasing demand for e-commerce and same-day delivery is expected to drive the market in the North American region. North American companies are started participating in the market delivering services at various levels. Also, the growing adoption of more integrated services and data management for flexible solutions penetrates the market growth during the forecast period. While the US market is the largest and is progressively growing, Canada's e-commerce sector is the one that is expanding the quickest in the region. The Mexican e-commerce market is expected to grow at a healthy clip over the next five years despite the country's comparatively low user penetration of e-commerce. The majority of e-commerce businesses award contracts to logistics service providers for storage and distribution. Business models for high-velocity e-commerce demand the deployment of technology tools that speed up fulfillment processes.
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Contract Logistics Market Segmentation
By Mode:
- Exhaust Gas Recirculation
- Turbocharger
- Organic Rankine Cycle
- Other
By Vehicle Type:
- Passenger cars
- Light commercial Vehicle
- Truck
- Buses
By Components:
- EGR Component
- Turbocharger Component
- Organic Ranking Cycle Component
- Thermoelectric Generator Component
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Contract Logistics Market Key Competitors:
- Siemens AG
- Mitsubishi Heavy Industries, Ltd.
- General Electric
- ABB
- Boustead International Heaters
- Forbes Marshall
- Promec Engineering
- Terrapin
- Wood Plc (Amec Foster Wheeler)
- Climeon; BoschIndustriekessel GmbH
- AURA GmbH & Co.
- Exergy S.p.A.
- IHI Corporation.
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Mode, Type of Vehicle, Component, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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