New York (US), April 26, 2023 (GLOBE NEWSWIRE) -- Dangerous/Hazardous Goods Logistics Market Overview
The MRFR analysis reports predict that the “Dangerous/Hazardous Goods Logistics Market Research Report by Type of Goods, Service Type, Destination, End-use Industry And By Region - Forecast Till 2030” In 2021, the market for dangerous/hazardous goods logistics was estimated to be worth USD 200.97 billion. A compound annual growth rate (CAGR) of 6.45% is anticipated for the dangerous/hazardous goods logistics market industry from 2022 to 2030, from USD 212.87 billion to USD 351.09 billion. When transported as hazardous commodities, chemically regulated items represent a risk to people, property, and the environment. Batteries and petrol are two of the commodities that are transported around the world the most. Therefore, while transporting hazardous materials, extra safety precautions, careful handling, and sufficient packing are needed.
There are also strict legislation and standards in place for the secure transfer of hazardous materials through pipeline, train, highway, air, and sea.
Workers must complete significant training in order to securely transport and store hazardous goods, such as explosives, radioactive materials, flammables, and biohazardous waste. Therefore, while transporting hazardous materials, extra safety precautions, careful handling, and sufficient packing are needed. Transport of hazardous materials through pipeline, rail, road, air, and sea is subject to additional safety norms and regulations. International organisations, domestic institutions, aviation and shipping divisions, among others, have implemented new, stringent regulations to enhance the handling of risky cargo.
International and domestic organisations, institutions, aviation and shipping departments have made stringent suggestions for safer dangerous product management for the movement of dangerous items in shipping. Over the course of the projection period, it is predicted that the implementation of these policies would fuel the rise of the hazardous products logistics market. An increase in the transportation of nuclear pharmaceuticals, viral samples, and related products during the COVID-19 pandemic, as well as increased government rules and regulations regulating the transit of hazardous commodities, are some of the causes driving the market expansion.
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Key Companies in the dangerous/hazardous goods logistics market include
- Ceva Logistics (Switzerland)
- Bollore Logistics (France)
- DHL (Germany)
- DSV (Denmark)
- DB Schenker (Germany)
- Hellmann Worldwide Logistics (Germany)
- DGD Transport (US)
- Toll Group (Australia)
- YRC Worldwide Inc. (US)
- United Parcel Service (US)
- GEODIS (France)
- Rhenus Logistics (Germany)
- Agility Logistics (Kuwait)
- Kuehne + Nagel (Switzerland)
- XPO Logistics (US)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 351.09 billion |
| CAGR | 6.45% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type of Goods, Service Type, End-use Industry and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The need for healthcare waste management services is growing. |
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The International Maritime Organisation (IMO) developed the International Maritime Dangerous Goods (IMDG) Code as only one illustration.
The International Marine Dangerous Goods Regulation (IMDG Code) was developed as a global standard for the marine transport of packed dangerous goods and hazardous cargo handling in order to enhance and standardise the safe transportation of dangerous goods and prevent environmental harm.
Due to the growing importance of managing hazardous waste for environmental preservation, the market for hazardous products logistics is growing. Furthermore, governments across a number of countries have passed strict legislation to prevent the inappropriate handling, storing, and transportation of dangerous waste.
For these reasons, it is anticipated that the market for hazardous waste management and, consequently, hazardous goods logistics, will grow quickly. Due to factors including stringent rules and regulations for transporting and storing hazardous goods, a rise in digitization, an increase in the use of drones for delivering hazardous goods, and a rise in the oil and gas industry, the hazardous goods logistics market is anticipated to expand during the forecast period. The expanding need for medical waste management services as well as the increasing acceptance of nuclear power are both expected to boost the hazardous materials logistics industry. The logistics market for dangerous/hazardous items is anticipated to expand at a market CAGR of 6.45% from 2022 to 2030 as a result of the aforementioned factors and key drivers.
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Segmentation:
The logistics market for dangerous/hazardous commodities is divided based on the kind of goods, services, destination, end-use industries, and region.
The market is divided into categories for flammable liquids, compressed gases, corrosives, oxidising substances, and others based on the type of goods.
The market is divided into three categories according to service type: transportation, warehousing & distribution, and value-added services.
The market is divided into domestic and foreign segments based on destination.
The market is divided into three categories based on end-use industries: industrial, healthcare/medical, and others.
North America, Europe, Asia-Pacific, and the Rest of the World are the market segments according to region in the study. The market for dangerous/hazardous goods logistics in North America is anticipated to reach USD 69.50 billion in 2022 and have a market CAGR of 6.45% during the research period.
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The market for dangerous/hazardous commodities logistics in Asia-Pacific was estimated to be worth USD 69.50 billion in 2022, with China accounting for more than half of the total. The world's oil consumption has increased as a result of a significant change in the United States. Large-scale petrochemical projects reduce the demand for petrol. For instance, more hazardous items like oil and gas are being transported throughout the nation by trucking services as a result of the growing domestic demand for petrochemicals.
The International Energy Agency predicts that the United States will surpass Saudi Arabia and Russia to become the world's top oil production within the next five years. In the end, shipping firms are what the oil and gas industry needs to deliver its products to clients around the globe. These industry developments should lead to an increase in the market for hazardous products logistics. It is crucial to use a label or another identifying indicator on the cargo carriers when transporting hazardous products. This would also significantly enhance transit security. Laws and regulations that apply must be followed while packaging dangerous materials. As a result, the US dangerous/hazardous goods logistics industry is expected to continue being one of the most desirable markets for manufacturers.
The dangerous/hazardous commodities logistics market in Europe is estimated to be worth USD 53.35 billion, with Germany accounting for roughly one-fifth of the whole market. As a result, the rising demand for moving hazardous goods in accordance with these rules ought to fuel market growth. Threats to the market's expansion include the high cost of transportation and the existence of potential risks. Additionally, there is room for expansion as new market participants switch to nuclear energy and enter the hazardous goods logistics sector.
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