Portland, OR, Nov. 04, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global contract logistics market generated $243.6 billion in 2021, and is expected to reach $505.3 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chains, key investment pockets, competitive scenarios, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Contract Logistics Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $243.6 billion |
| Market Size in 2031 | $505.3 billion |
| CAGR | 7.5% |
| No. of Pages in Report | 348 |
| Segments Covered | Service, Type, Industry Vertical, Mode of Transportation, and Region |
| Drivers | Growth in the e-commerce industry |
| Increase in trade-related agreements | |
| Growth in the manufacturing industry | |
| Opportunities | Advent of last-mile deliveries |
| Increase in use of information technologies solutions & software | |
| Restrains | Dearth of control of manufacturers |
| Poor infrastructure and higher logistics costs |
Covid-19 scenario:
- The logistics companies that were involved in storage, movement, and flow of goods were among the worst-hit companies during the Covid-19 pandemic. The prolonged lockdown disrupted the supply chain.
- In addition, some industries such as healthcare, e-commerce, pharmaceuticals, and daily essentials goods industry witnessed growth during the pandemic. This favored the growth of the global contract logistics industry.
The report segments the global contract logistics market on the basis of service, type, industry vertical, mode of transportation, and region.
Based on service, the transportation segment held the largest share in 2021, accounting for more than half of the market. However, the aftermarket logistics segment is estimated to register the highest CAGR of 11.18% during the forecast period.
On the basis of type, the outsourcing segment dominated the market in terms of revenue in 2021, contributing to nearly two-thirds of the market. However, the insourcing segment is projected to portray the highest CAGR of 8.25% from 2022 to 2031.
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Based on industry vertical, the manufacturing segment held the largest share in 2021, accounting for more than one-third of the market, and is expected to continue its dominance during the forecast period. However, the retail segment is expected to register the highest CAGR of 9.03% during the forecast period.
On the basis of mode of transportation, the roadways segment held the largest share in 2021, contributing to more than two-fifths of the market. However, the airways segment is projected to register the highest CAGR of 11.26% during the forecast period.
The global contract logistics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2021, accounting for nearly half of the market. However, the market across LAMEA is expected to register the highest CAGR of 9.9% from 2022 to 2031.
The global contract logistics market report includes an in-depth analysis of the prime market players such as A.P. Moller - Maersk, CEVA Logistics AG, Agility, DB Schenker, CJ Logistics Corporation, DSV, GEODIS, Hellmann Worldwide Logistics, Deutsche Post AG, Kuehne+Nagel International AG, Hitachi Transport System, Ltd., Penske, Neovia Logistics Services, LLC, United Parcel Service, Inc. (UPS), Ryder System, Inc., Yusen Logistics Co., Ltd., and XPO Logistics, Inc.
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The report analyzes these key players in the global contract logistics market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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