Global Freight and Logistics Market: By End User Industry (Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others), by Logistics Function (Courier, Express, and Parcel (CEP), Freight Forwarding, Freight Transport, Warehousing and Storage) and by Geography (Europe, Asia-Pacific, North America, Middle East & Africa, &South America)—Global Forecast till 2030

Description

Market Overview: The Freight and Logistics Market was valued at USD 14.8 billion in 2021. The industry is projected to expand from USD 15.1 billion in 2022 to USD 21.7 billion by 2030, with a compound annual growth rate (CAGR) of 4% in the forecast period (2024 – 2030). Freight and logistics comprise transporting goods and commodities utilizing rail, trucks, road vehicles, large container ships, and airplanes. The industry carries services including contract logistics, warehousing, value-added services, and advanced integrated logistics solutions for complex international supply chains. Growth in this market is propelled by growing trade agreements, the development of global logistics infrastructure, and technological innovations that allow faster delivery and effective supply chain managemet

Market Size for Global Regenerative Medicine Market on the Basis of Revenues in USD Bn, 2018-2023

                                                                  Source: XX Research Analysis

What Factors are Leading to the Growth of the Global Freight and Logistics Market:

• The freight and logistics market plays an important role in confirming the smooth and timely movement of goods across borders and continents. This sector is important as businesses strive for just-in-time delivery and international trade continues to flourish.
• The market is also witnessing the rise of new business models, including the sharing economy and on-demand logistics services. These innovations are disrupting traditional business models and introducing fresh opportunities for market players.
• The freight logistics market is anticipated to rise significantly during the coming years, propelled by the rising requirement for efficient and cost-effective logistics solutions.

Which Industry Trends have been Fueling the Growth?

Rapid Technological Advancements: The increasing e-commerce has substantially fostered the requirement for logistics services, specifically in last-mile delivery and warehousing. E-commerce platforms require efficient and flexible logistics networks to address customer expectations for speedy and reliable delivery. Innovations including automation, artificial intelligence, blockchain, and the Internet of Things (IoT) are revolutionizing logistics functions by advancing efficiency, decreasing costs, and improving visibility across the supply chain. Varying consumer preferences, including the desire for faster delivery times and sustainable practices, are also propelling logistics strategies and investments.

Growing Automation and Digitization: Logistics is a segment of the supply chain that comprises transporting goods, services, and connected information from the point of origin to the point of consumption. Presently, the logistics industry is undergoing a key shift towards digitization and automation. Companies are significantly implementing technologies including the Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning, and robotics to streamline functions, improve efficiency, and decrease costs. This includes warehouse automation, autonomous vehicles, predictive analysis, and several other innovations.

What is the Current Structure for Global Freight and Logistics Market?

By Logistics Type, Third-Party Logistics Segment Dominates the Largest Market Growth

Third-party logistics (3PL) registered the market in 2023 and is anticipated to rise at the fastest rate in the forecast period from 2024 to 2033. Third-party logistics comprises outsourcing the management of different supply chain functions. The ability of 3PL to decrease overall distribution and warehousing costs delivershigher flexibility, which positively impacts market growth.The growingrequirement to outsource key logistics and transportation services to decrease shipping costs and manage delivery times is accelerating the widespread usage of 3PL in industries including retail, telecommunications, automotive, construction, e-commerce, manufacturing, food,and beverage (F&B), and hospitality. Thereby, the market is witnessing significant expansion.

By End User, Industrial and Manufacturing Segment Registers the Largest Market Share

The logistics market is classified by application into industrial and manufacturing, oil and gas, retail, and healthcare. The industrial and manufacturing segment led the market during 2023 and is projected to be the fastest-rising segment from 2024 to 2033. This growth is propelled by the ability of logistics to enhanceeffectiveness and productivity, decrease costs, and improve consumer satisfaction. The projectedgrow in the requirement for industrial manufacturing facilities is a foremost factor contributing to the segment’s anticipated growth.

By Region, Asia Pacific Registered the Largest Market Size

Asia Pacific registered the Freight and Logistics Market in 2023 and is projected to maintain the largest market share in the forecast period. The region’s leading countries are progressively integrating technology into their logistics procedures. For instance, in India, 80% of freight is transported by road, and the trucking sector is accepting advanced tracking technology to enhance delivery tracking and estimation. Thailand is leveraging IBM and Maersk’s blockchain initiative to improve shipping tracking. The logistics insights in Asia are characterized by rising intra-Asian trade and rising imports of both industrial inputs and consumer goods.

Competitive Analysis

Key market players are heavily funding research and development (R&D) to enlarge their product lines, thereby underwriting the growth of the Freight and Logistics market. In addition, these players are undertaking different strategic initiatives to widen their international presence. Key market developments comprise new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaborations with other organizations. To flourish and expand in a significantly competitive and rising market environment, competitors in the Freight and Logistics industry must offer cost-effective solutions.Some of the key player includes A.P. Moller – Maersk, CMA CGM Group, DHL Group, FedEx and United Parcel Service of America, Inc.

Market Segmentation

Global Freight and Logistics Market, by Logistics Type

• First Party
• Second Party
• Third Party
• Contract Logistics
  • Freight Forwarders
  • Asset-based logistics provider
  • Contract Warehousing
  • Providers
  • Others

Global Freight and Logistics Market, by End User

• Industrial and Manufacturing
• Retail
• Healthcare
• Oil & Gas
• Others

Global Freight and Logistics Market, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Russia
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Turkey
  • South Africa
  • Rest of Middle East & Africa

Market Players Included

• Agility Public Warehousing Co. K.S.C.P
• C H Robinson Worldwide Inc.
• CJ Logistics Corp.
• CMA CGM SA
• Deutsche Bahn AG
• Deutsche Post AG
• DSV AS
• Expeditors International of Washington Inc.
• FedEx Corp.
• Hellmann Worldwide Logistics SE and Co KG
• Kerry Logistics Network Ltd.
• Kuehne Nagel Management AG
• Lineage Logistics Holdings LLC
• Manitoulin Group of Companies
• Nippon Express Holdings Inc.