ID: MRFR/PNT/7226-HCR | February 2021 | Region: Global | 107 pages
Freight and Logistics Market is projected to be worth USD 21.13 Billion by 2030, registering a CAGR of 4% during the forecast period (2022 - 2030), The market was valued at USD 14.85 billion in 2021.
An increase in the infrastructure and technology created the improvement in the logistics infrastructure and technology improvement. The companies of the logistics to improve the fast delivery of the goods in addition to the innovation supply chain management.
In recent days the increase in the growth in the Asia – Pacific is because of the economic development in the ASEAN countries like China and India is working hard to improve their growth in the industry. In addition to this, their government also provides additional support to improve their standards in economic development.
The world trade has reached its peak of the import and export traffic from china. The freight and logistics industry is trying hard to improve its technology by investing in technology adoption. In future, the development in services like order fulfilment, delivery models, and value-added service can make changes in the growth of the freight and logistics market.
After the outbreak of the pandemic, the growth of the freight and logistics market had put down. There were many issues because of the outbreak of the pandemic. Many governments were halted their construction works and implemented lockdown to control the spread of the virus. Because of this, the loss was very high. There was no transportation, shortage of labours, no raw materials were able to supply for the manufacturing companies, delayed delivery. These issues created a drastic change in the freight and logistics market share.
The main reason which is been acting as the driving force which helps in improving the freight and logistics market size is the increase in the global trade. Also, the second one is an increase in trade-related agreements along with the global logistics infrastructure. There are some reason for which the people are using the freight and logistics industry is because of the fast delivery and unbroken gap in the supply chain. The increase in infrastructure and construction is one of the main reasons for the growth of the freight and logistics market value.
The fast delivery is one which created a drastic change in the freight and logistics market growth. But later on, the rise of e-commerce also created changes in the market value of freight and logistics. The improvement in e-commerce and digital marketing created some changes to grow their market value. Those changes were done by considering the consumer's needs and expectations. They are fast, free shipping, competitive pricing. All these paved way for the growth of the freight and logistics market.
As everyone knows the outbreak of the pandemic created a drastic change in the market value in the whole world. In freight forwarders, there are some customer's issues while transporting the materials. But in recent days the freight forwarders are working hard to solve all the issues online for the customs brokerage, transportation management solutions are a good move to gain customers satisfaction. By using the digital solution the customer's satisfaction is decreased because of the delayed delivery, not providing the order with the customer's satisfaction. So these are been a major restraint in the freight and logistics market.
The main challenge is to regain the market value after the COVID spread all over the world. Because of the spread, the freight and logistics market was at a great loss. As they were struggling to deliver their materials and gain the satisfaction of the customers. And even they were not able to transport the goods from one place to the other because of the COVID restrictions. After the lockdown releases, the freight and logistics market struggled to regain its position its place again.
Cumulative growth analysis
At the initial time after the spread of the COVID, transportation got its position again in the market. Because the demand during the COVID increased the transportation and the delivery of the goods after the pandemic. Later on, the growth increased in the Asia Pacific regions because of the import and export of the goods from China and other economically grown company. Even the rapid urbanization and the growth of the constructional sectors increased the growth after the spread of the pandemic. The growth and the construction of the infrastructure in the Asia Countries increased the scope in the freight and logistics market.
Value chain analysis
In comparison with other segments like the airways, roadways, railways, the waterways are considered as the growing segment. As the global freight and the logistic market is segmented into transportation, packaging and other distribution. But the warehousing holds the major shares in the freight and logistics market. This is because the highest amount of transportation is being held for delivering goods for the construction and to enhance the infrastructure. To talk about the end-use industry the manufacturing and the construction segment holds a great part in the end-use application. By using all those possibilities to get the growth in the freight and logistics market they are working hard to satisfy the customer’s need.
Market segment overview
The Middle East and Africa
After the restrictions for the lockdown got reduced the market is working hard to regain its position. So they are planning to extend their service by adding e-commerce and digital platforms for the growth of their market. Whereas after the lockdown many freight and logistics are increasing their transport commodities by the trucks, railroads cars and the large ships. Also expanding their transport for the import and export transportation to gain their place in the market.
Freight and logistics are transporting the goods from one part of the world to the other by trucks, planes, railroad cars and large ships. Each region is involved with importing and exporting goods. This increased the opportunity for the freight and the logistics industries. The increase in E-commerce and infrastructure across the Asia- Pacific leads to growth in the market. Also, the infrastructure growth in China and India created growth in the freight and logistics market. The second place for the market growth in North America
When compared to the Asia-Pacific region, other regions don’t have gradual growth. They are lacking in infrastructure growth and the E-commerce and the digital sectors also. So the other regions are emerging and trying to push the growth of the freight and logistics market.
There is a gradual growth in freight and logistics because of the increase in the development of the infrastructure in the construction sector and the digital marketing sector. These are the driving force for the rapid growth of the freight and logistics market.
|Market Size||2030: USD 21.13 Billion|
|CAGR||4% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Shipping Type, Service, and End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Dsv Global Transports and Logistics (Denmark), Kuehne+ Nagel (Switzerland), The Maersk Group (Germany), Deutsche Post DHL (Germany), DB Schenker Logistics (Germany), C.H. Robinson (US), Panalpina (Switzerland), United Parcel Service (US), FedEx Corp. (US), Walmart Group (US), Nippon Express (Japan)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global freight and logistics market is projected to grow at approximately 4% CAGR during the assessment period (2022-2030).
The Asia – Pacific holds the largest part of the share across the globe
North America is holding the second-largest share of freight and logistics globally
Waterways are the cheapest and safest mode which is leading when compared to other transportation.
DB Schenker Logistics, Nippon express, C.H. Robinson post-DHL, Walmart group.
using the tracking system for the package to get the delivery convenient to the customer is the recent trend going in the market.