Portland, OR, Oct. 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hazardous goods logistics market generated $200 billion in 2021, and is projected to reach $382.9 billion by 2031, growing at a CAGR of 7% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Hazardous Goods Logistics Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $200 billion |
| Market Size in 2031 | $382.9 billion |
| CAGR | 7% |
| No. of Pages in Report | 424 |
| Segments Covered | Operation, Business Type, Product, Application, and Region. |
| Drivers | Implementation of strict laws pertaining to use of hazardous goods logistics. |
| Increase in use of drones for delivering hazardous goods. | |
| Thriving oil and gas industry. | |
| Opportunities | Rise in demand for hazardous waste management activities for preventing ecological degradation. |
| A large number of countries have enforced stringent legislations for inadequate storage and improper disposal of hazardous waste. | |
| Escalating need for medical waste management and shift toward nuclear energy. | |
| Restraints | High risks are associated with hazardous goods transport and storage. |
| Huge transportation costs associated with transport of hazardous goods logistics. |
COVID-19 Scenario:
- The outbreak of the COVID-19 had negatively impacted the growth of the global hazardous goods logistics market, owing to disruption of supply chain in logistics and transportation sector.
- Lockdown during the COVID-19 pandemic created impediments for global trade and transport, thereby hampering the growth of the global market.
The report offers detailed segmentation of the global hazardous goods logistics market based on Business Type, Operation, Product, Application, and Region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on business type, the transportation segment held the largest market share in 2021, accounting more than nearly three-fifths of the global market share, and is expected to maintain its leadership status during the forecast period. Furthermore, the same segment, on the other hand, is expected to cite the fastest CAGR of 7.2% during the forecast period. The report also includes other segments such as warehousing and value-added services.
Based on product, the flammable segment held the largest market share in 2021, holding nearly one-third of the global market share. Moreover, the flammable segment is set to maintain its dominant position during the forecast period. Nevertheless, the bio-hazardous segment, on the other hand, is expected to cite the fastest CAGR of 8.1% during the forecast period.
In terms of application, the industrial segment held the highest market share in 2021, holding more than one-third of the global market share, and is anticipated to maintain its number one position during the forecast timeline. However, the healthcare segment, on the other hand, is expected to cite the fastest CAGR of 7.8% during the forecast timespan.
Based on region, the market across Asia-Pacific held the largest market share in 2021, holding one-third of the global market share. However, Asia-Pacific is set to dominate the global market share in 2031. The Asia-Pacific hazardous goods logistics market is expected to cite the fastest CAGR of 8.5% during the forecast period. The report also covers other regions including LAMEA, Europe, and North America.
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The key players analyzed in the global hazardous goods logistics market report include Agility, Bollore Logistics, CEVA Logistics, DB Schenker, DGD Transports, DHL Supply Chain, DSV, GEODIS, Hellmann Worldwide Logistics, Kuehne + Nagel, Rhenus Logistics, Toll Holdings Ltd., YCH Group, United Parcel Service of America, Inc., XPO Logistics, Inc., Yellow Corporation, and Yusen Logistics Co., Ltd.
The report analyzes these key players in the global hazardous goods logistics market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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