Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "North America Contract Logistics Market Report (2023-2028)," the market is estimated at USD 155.71 billion in 2023. It is expected to register a CAGR of 1.85% during the forecast period.
Contract logistics involves a long-term partnership that involves services like shipping goods, replacing parts, and delivering final goods to customers. The logistics contract provider handles each stage of distribution and final delivery.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 155.71 billion |
| Market Size (2028) | USD 170.63 billion |
| CAGR (2023-2028) | 1.85% |
| Study Period | 2019-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The manufacturing sector’s expansion. |
| The increasing demand for work optimization, cost efficiency, and technological integration into supply chains. |
Which are the Top Companies in the North America Contract Logistics Market?
The North American contract logistics market is highly fragmented, with established players offering services at various price points to gain a competitive edge in the market and expand the consumer base. The companies are using strategies like investments to increase their footprint and distribution network in the market.
Notable players in the North American contract logistics market are:
- Deutsche Post DHL Group (DHL Supply Chain)
- United Parcel Service Inc. (UPS Supply Chain Solutions)
- FedEx Corporation (FedEx Supply Chain)
- Kuehne + Nagel International AG
- XPO Logistics Inc.
- Ryder System Inc.
- J.B. Hunt Transport Services Inc.
- DB Schenker
- CEVA Logistics
- Geodis
- Penske Logistics Inc.
- Hellmann Worldwide Logistics GmbH & Co. KG
- Americold
- Schneider National
Other Reports That Might Be of Your Interest:
- United States Contract Logistics Market Report - The US contract logistics market is expected to register a CAGR of over 3.00% during the forecast period (2023-2028).
- Asia-Pacific Contract Logistics Market Report - The Asia-Pacific contract logistics market size is estimated at USD 246.69 billion in 2023. It is expected to reach USD 318.59 billion by 2028, registering a CAGR of 5.25% during the forecast period (2023-2028).
Key Highlights from the North America Contract Logistics Market Report:
E-commerce Development is Driving the Market
- E-commerce sales in Canada are increasing in real terms due to the rise of online shoppers. The majority of e-commerce businesses give logistics service providers warehouse and distribution service contracts.
- Due to rising e-commerce businesses, startups in cloud-based warehousing are becoming more popular. Unlike long-term leases, these startups enable businesses to use the warehouse space based on seasonal demand. Some businesses provide fulfillment services, giving intense competition to standard contract logistics providers.
Automotive and Manufacturing Sectors to Witness Maximum Growth
- The manufacturing sector’s logistics success is based on effective routing management. Logistics providers generate bills of lading and freight planning to cut the cost of transporting goods to vendors. Manufacturers outsourcing their logistics demands avoid the payroll, benefit, and liability costs connected with hiring workers and save money on shipping.
- North America’s supply chain management is mostly done by logistics businesses. Most of the gearboxes and engines used in Mexico’s automobile manufacturing are imported from the United States.
What are the Latest Developments in the North America Contract Logistics Market?
- In June 2022, DHL Supply Chain announced that LocusBots from Locus Robotics had installed over 100 million units in its North American facilities. The DHL facility in Hanover Township, Pennsylvania, witnessed this achievement while completing orders for a well-known clothes retailer.
- In February 2022, Deutsche Post DHL Group’s life sciences and healthcare sector announced an investment of over USD 400 million to expand its pharmaceutical and medical device distribution network. The investment will bring essential healthcare supplies to patients and business partners.
Mordor Intelligence has Segmented the North America Contract Logistics Market Based on Type, End User, and Country:
- By Type (Market Size and Forecast based on Value (USD billion), 2019-2028)
- Insourced
- Outsourced
- By End User (Market Size and Forecast based on Value (USD billion), 2019-2028)
- Manufacturing and Automotive
- Consumer Goods and Retail
- High-tech
- Healthcare and Pharmaceuticals
- Other End Users
- By Country (Market Size and Forecast based on Value (USD billion), 2019-2028)
- United States
- Canada
- Mexico
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the North America Contract Logistics Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Hungary Third-Party Logistics (3PL) Market Report - The Hungarian third-party logistics (3PL) market is expected to register a CAGR of over 5.00% during the forecast period (2023-2028).
- Germany Pharmaceutical 3PL Market Report - The German pharmaceutical 3PL market size is estimated at USD 1.92 billion in 2023. It is expected to reach USD 2.38 billion by 2028, registering a CAGR of 4.47% during the forecast period (2023-2028).
- Singapore Third-Party Logistics (3PL) Market Report - The Singaporean third-party logistics (3PL) market size is estimated at USD 5.28 billion in 2023. It is expected to reach USD 6.37 billion by 2028, registering a CAGR of 3.81% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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