Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "Third Party Logistics (3PL): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Third Party Logistics (3PL) Market to Reach $1.9 Trillion by 2030
In the changed post COVID-19 business landscape, the global market for Third Party Logistics (3PL) estimated at US$974.6 Billion in the year 2022, is projected to reach a revised size of US$1.9 Trillion by 2030, growing at a CAGR of 8.4% over the analysis period 2022-2030. DTM, one of the segments analyzed in the report, is projected to record a 8.7% CAGR and reach US$657.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the ITM segment is readjusted to a revised 8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $237.6 Billion, While China is Forecast to Grow at 10.3% CAGR
The Third Party Logistics (3PL) market in the U.S. is estimated at US$237.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$488.4 Billion by the year 2030 trailing a CAGR of 10.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 6.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$236 Billion by the year 2030.
Select Competitors (Total 477 Featured) -
- C.H. Robinson Worldwide, Inc.
- CEVA Logistics
- DACHSER SE
- DB Schenker Logistics
- DHL
- DSV
- Expeditors International of Washington, Inc.
- FedEx Corporation
- FM Logistic
- GEODIS
- Hitachi Transport System, Ltd.
- J.B. Hunt Transport, Inc.
- Kuehne + Nagel International AG
- Nippon Express
- Sinotrans (HK) Logistics Limited
- United Parcel Service of America, Inc.
- Volga-Dnepr Airlines, LLC
- XPO Logistics, Inc
- Yusen Logistics Co., Ltd.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
| Report Attribute | Details |
| No. of Pages | 1344 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $974.6 Billion |
| Forecasted Market Value (USD) by 2030 | $1900 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Manufacturing Sector: Driving Force behind 3PL Market Growth
- 3PL Assumes Critical Importance in Manufacturing Domain
- Expanding Retail Industry Generates Significant Opportunities
- Select Leading Retail Enterprises by Country: A Snapshot
- Global Retail Sector by Product Category (2021E): Percentage Breakdown of Revenues for Clothing & Accessories, Diversified, FMCG, and Leisure Goods
- eCommerce Emerge as New Growth Driver
- Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
- Leading Retail E-Commerce Countries Worldwide: Ranked by Sales in US$ Billion for 2019
- Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
- E-commerce Challenges for 3PLs
- Omni Channel Retailing Underpins Volume Growth for 3PL Services
- Global Retail Omni-Channel Commerce Platform Market in US$ Million by Region/Country: 2019 & 2025
- Automotive Logistics: A Lucrative End-Use Vertical
- Global Automobile Production in Million Units: 2008-2022
- Transportation Services Drive Momentum
- Procurement Logistics Resolve Inbound Transportation Needs
- Distribution Logistics Simplify Outbound Movement of Products
- Production Logistics for Diverse Logistics Needs of Modern Production Lines
- Value Added Services Widen the Scope & Span of 3PL Market
- Reverse Logistics: A High-Utility Value-Added Service
- Multi Modal Transportation Finds Favor
- Key Drivers of the 3PL Market
- Globalization and Rising Trade
- Expansion of eCommerce Industry
- Increasing Focus on Core Competencies
- Focus on Embracing Advanced Technology
- Market Restraints
- Lack of Manufacturer Control on Logistics Service
- Manufacturer Reputation at Stake
- 3PL Providers Invest in IT Capabilities to Differentiate from Competition
- Key Opportunities for Warehouse Operators to Leverage Technology
- Warehouse Expansion vis-a-vis Labor Shortage
- Mounting Pressure to Push Bottom Lines
- eCommerce & Omni Channel Opportunity
- Improving Customer Experience
- Intense Competition from Amazon
- Technology Tools Seek Wider Role in 3PL Domain
- TMS Makes Its Way into 3PL Domain
- WMS Gaining Traction in Warehouse Management
- Cloud Technology Seeks to Expand Share in 3PL Technology Mix
- BI Systems Take Center Stage
- Big Data Emerges as New Focus Area
- Global Adoption Rates (in %) of Big Data Technologies by Industry (2021E)
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/onl7nx
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