The MRFR analysis reports state that the global Logistics market was worth nearly USD 9,45,963.8 million in 2022. The reports further project the market worth to attain around USD 16,01,196.16 million by the end of 2030 while thriving at a substantial growth rate of around 6.80%.
The global Logistics market has grown in the last few years. The main aspect causing a surge in the performance of the market is the growing e-commerce industry. Furthermore, the rising need for logistical operations in collaboration is also considered to be one of the vital parameters enhancing the performance of the global market. Moreover, factors such as rise in trade-related agreements, various advantages that logistics offers the e-commerce business, the rapid expansion of customers, cross-border sales, and changing market conditions are also projected to catalyze the global market expansion over the review era.
The global market for Logistics is fragmented into various segments based on End-User, type, Technology, and region.
Based on the transportation types, the global market for Logistics has been split into roadways, railways, waterways, and airways.
Based on the End-User, the global market for Logistics has been split into oil & gas, healthcare, retail, and industrial & manufacturing.
Based on the types, the global market for Logistics has been split into third-party, second-party, and first-party.
The global market for Logistics is analyzed across five major geographies: Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The MRFR analysis reports The North American region secured the leading position across the global market for logistics in 2022 with the largest contribution of nearly USD 4,33,251.42 million. The region has the US market as the largest contributor in revenue share. On the other hand, the Canadian market is likely to grow at the highest pace over the coming years. The main parameter enhancing the development of the regional market is the presence of a highly developed infrastructure in terms of rail and road connectivity. With a very integrated supply chain network connecting producers and consumers through several transportation modes, including air and express delivery services, truck transport, maritime transport, and freight rail, the United States is one of the region's key markets for logistics.
The European regional market for Logistics is anticipated to ensure the second position across the global market over the assessment period. The region has the German market as the largest contributor in revenue share. On the other hand, the UK market is likely to grow at the highest pace over the coming years. The main parameter enhancing regional market development is the rising e-commerce trends. Furthermore, the growing investment in research and development for the logistics sector is also considered to be one of the vital aspects boosting-up the performance of the regional market. In addition, factors such as potential infrastructure across the region offering lucrative opportunities and the availability of labor are also projected to boost the regional market's development over the review timeframe.
The Asia-Pacific regional Logistics market will likely showcase the highest development across the global market for Logistics over the coming years. The region has China as the largest contributor in terms of revenue share. On the other hand, the Indian market is likely to grow at the highest pace over the coming years. The main parameters enhancing regional market development are the relocation of industrial production to Asian nations and the expansion of trade routes.
The global market for Logistics is known to have a strong and competitive landscape. The players across the market are focusing on investments in research & development activities to expand their product lines, which will help the logistics market grow even more. They are also considering several strategic activities to expand their footprint, with vital market developments including new product launches, higher investments, mergers & acquisitions, contractual agreements, and collaboration with other organizations. The list of prominent participants across the global market for Logistics includes players such as United Parcel Service Inc. (UPS), Kuehne+Nagel, FEDEX, Robinson Worldwide Inc., Nippon Express, GEODIS, DSV (DSV Panalpina), and MOLLER – MAERSK among various others.
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