Over the forecast period (2021-2028), it is expected that the third-party logistics market will develop at a CAGR of 8.2% to reach USD 1,753 billion.

The factors driving growth of the Third-Party Logistics Market includes expansion of the e-commerce industry, rise in the number of trading activities around the world, Government initiatives promoting the use of third-party logistics, and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufacturers, services offered by third party logistic companies such as inventory management, shipping, and receiving, rise in the launch of new products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, strategic collaborations, and partnerships between key industry leaders, growing population growth rates and rising disposable incomes, are further contributing towards the market growth.

However, growth of the Third-Party Logistics Market is hindered due to insufficient availability of trained professionals.

The major players operating in the market are DB Schenker, Nippon Express Co., Ltd., Kerry Logistics, AmeriCold Realty Trust, FedEx Corporation, XPO Logistics, Inc., Agility Public Warehousing Company K.S.C.P., Ceva Logistics, Network Limited, C.H. Robinson Worldwide, Inc., and Kuehne + Nagel International AG among others.

Based on Service, the Value-added Warehousing and Distribution segment is predicted to grow at a significant CAGR during the forecast period

Value added warehousing provides enhanced flexibility I labor, equipment and packaging, which is pushing segment’s growth.

Based on Oil Type, the Healthcare and Pharmaceuticals segment is projected to grow at a robust CAGR over the forecast period

Growing demand for 3PL for storage, transportation, and logistics in the healthcare sector, is propelling segment’s growth.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Rise in Government’s expenditure on the healthcare sector, expansion of the e-commerce industry, growing adoption of advanced technologies by manufacturers, rapid urbanization, increasing population growth rates and high per capita income, are some of the important factors augmenting the market growth in North America. 

Key Development

• In 2020, XPO Logistics, Inc., singed an agreement with Mercedes-Benz Parts Logistics to manage UK parts distribution through an integrated, digitally managed transportation network.

Market Segmentation

Segmentation by Service

• Domestic Transportation Management

• International Transportation Management

• Value-added Warehousing and Distribution

Segmentation by Base Oil Type

• Consumer and Retail

• Automotive

• Healthcare and Pharmaceuticals

• Others

Segmentation by Region

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of APAC

• North America

  • United States of America

  • Canada

• Europe

  • United Kingdom

  • Germany

  • France

  • Spain

  • Rest of Europe

• RoW

  • Brazil

  • South Africa

  • Saudi Arabia

  • UAE

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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