Dublin, Feb. 26, 2024 (GLOBE NEWSWIRE) -- The "United Kingdom Contract Logistics - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020-2029" report has been added to ResearchAndMarkets.com's offering.
The United Kingdom Contract Logistics Market size is estimated at USD 99.5 billion in 2024, and is expected to reach USD 116.53 billion by 2029, growing at a CAGR of 3.21% during the forecast period (2024-2029).
Key Highlights
- Despite facing significant operational and financial disruption since March 2020, the logistics industry continued to supply the nation with goods, including food supplies and PPE. To deal with the COVID-19 pandemic, logistics businesses managed risks by scaling back operations, taking work back in-house, and reducing their reliance on third-party services. At the same time, many also focused on their core fleet of vehicles to save costs.
- The United Kingdom has the most advanced logistics industry in Europe. Owing to the variety and higher prevalence of e-commerce, this may not change - the contract logistics market benefits from expanding e-commerce due to increased demand for contract logistics services. As a result of the e-commerce boom, logistics companies are expanding their services.
- With the expansion of international trade and the interconnectedness of economies, companies in the UK are increasingly engaging in global business activities. This has led to a surge in the demand for efficient and streamlined logistics services to facilitate the movement of goods across borders.
- The Need for expanded transportation networks, the complexity of global supply chains, advancements in technology, and the rise of e-commerce have all influenced the growth and evolution of contract logistics in the UK.
- Contract logistics services are in high demand as a result of the retail e-commerce boom. Over the last decade, e-commerce has become the most popular retail trend in the United Kingdom. Even though e-commerce platforms have been around for a long time, they have only recently gained mainstream notice. In order to keep up with the rest of the globe, the expansion of internet shopping in the United Kingdom has been phenomenal.
UK Contract Logistics Market Trends
Growing demand for contract logistics in the manufacturing segment
- The manufacturing sector in the UK is highly diverse, encompassing industries such as automotive, aerospace, pharmaceuticals, electronics, and more. Each industry has its unique logistics requirements, and contract logistics providers specialize in catering to these specific needs. This specialization allows manufacturers to benefit from industry-specific expertise and best practices.
- One of the key benefits of contract logistics in the manufacturing sector is increased flexibility. Manufacturers can scale their logistics operations based on demand fluctuations, ensuring efficient utilization of resources and cost optimization.
- Contract logistics providers offer customizable solutions tailored to the specific needs of manufacturers, allowing them to adapt quickly to changing market conditions.
- By outsourcing logistics activities to experts, manufacturers can benefit from streamlined processes, optimized routing, and improved inventory management. This leads to reduced lead times, lower costs, and enhanced overall operational efficiency.
- Contract logistics also plays a vital role in ensuring supply chain visibility and traceability. With the help of advanced technologies such as track and trace systems, manufacturers can monitor the movement of goods throughout the supply chain. This visibility helps in identifying bottlenecks, optimizing inventory levels, and ensuring timely delivery to customers.
A selection of companies mentioned in this report includes
- DHL Supply Chain
- UPS
- Wincanton
- XP Supply Chain
- Eddie Sobert
- CEVA Logistics
- Clipper Logistics
- FedEx
- Rhenus Logistics
- EV Cargo*
For more information about this report visit https://www.researchandmarkets.com/r/r2lwzk
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
