Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) --
The contract logistics market size valuation is estimated to cross USD 593.9 billion by 2032, as reported in a research study by Global Market Insights Inc.
The industry growth is driven by the globalization of trade and expansion of supply chains across several regions. Additionally, rapid advancements in technology, such as the adoption of automation, robotics, and data analytics, have revolutionized the contract logistics, enhancing operational efficiency, optimize inventory management, and enable real-time tracking and visibility throughout the supply chain. In March 2022, CEVA Logistics, a global leader in third-party logistics, collaborated with Kodiak Robotics, Inc., a leading self-driving trucking company, to supply freight autonomously between Dallas Fort-Worth to Austin and Oklahoma City.
The exponential growth of online retailing has resulted in a surge in demand for warehousing, fulfillment, and last-mile delivery services. Contract logistics providers help in meeting the evolving needs of e-commerce businesses by offering tailored solutions to manage inventory, process orders, and ensure timely delivery to end customers. Moreover, the emphasis on sustainability and environmental responsibility, along with the companies seeking eco-friendly logistics solutions to minimize their carbon footprint will favor the industry demand.
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The contract logistics market from the waterways segment is slated to record high demand through 2032, owing to the inherent efficiency and cost-effectiveness of transporting goods via water routes. With larger cargo capacities and lower fuel consumption compared to road or air transport, waterway logistics offer a sustainable and economical solution for bulk shipments. Moreover, the expansion of inland waterway networks and the development of multimodal transportation hubs enhance the accessibility and connectivity of water routes, facilitating seamless integration with contract logistics operations.
Automotive segment is poised to grow at substantial rate during 2023-2032, favored by the increasing complexity of automotive supply chains, characterized by diverse components. Contract logistics providers help in managing the intricate network of suppliers, manufacturers, and distributors, ensuring seamless coordination and efficient delivery of automotive parts, and finished vehicles. The shift towards electric and autonomous vehicles introduces new logistical challenges, such as battery transportation and specialized handling requirements, further drive demand for contract logistics expertise.
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North America contract logistics market will register a strong CAGR till 2032, attributed to the resurgence of manufacturing activities and the revival of domestic production in key industries such as automotive, aerospace, and electronics. Additionally, the rapid expansion of e-commerce and the proliferation of online retail platforms highlight the need for efficient and flexible logistics solutions to support the growing volume of shipments. The extensive network of transportation infrastructure, including highways, railways, and ports, facilitates seamless connectivity and efficient distribution of goods, further bolstering the regional industry growth.
The major players involved in contract logistics market are DSV, A.P. Moller – Maersk, XPO, Inc., CJ Logistics Corporation, DHL Supply Chain, Kuehne+Nagel, and DB Schenker.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Contract Logistics market 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Service trends
2.5 Mode trends
2.6 Type trends
2.7 End-use trends
Chapter 3 Contract Logistics Market Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/Collaboration
3.8.2 Merger/Acquisition
3.8.3 Investment
3.8.4 Level of autonomy launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rapid growth of e-commerce
3.10.1.2 Rising adopting eco-friendly transportation options
3.10.1.3 Growing need for efficient and cost-effective supply chain solutions
3.10.2 Industry pitfalls & challenges
3.10.2.1 Stringent government regulations on transportation
3.10.2.2 Growing global political instability
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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