LONDON--(BUSINESS WIRE)--The third-party logistics (3PL) market in Europe is expected to grow by USD 42.04 billion as per Technavio. This marks a significant market slowdown compared to the previous year's growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 4%.
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The market is driven by the growing complexity of in-house logistics operations. In addition, the emergence of big data is anticipated to boost the growth of the third-party logistics market.
Manufacturing companies across the world are focusing on expanding their production capacities and operations. This has increased the need for logistics for efficient transportation of materials to factories and finished goods to end-users. In addition, difficulties in fleet management, shortage of skilled drivers, lack of IT infrastructure such as tracking systems, and operational issues in the management of in-house logistics are significantly impacting the core business areas of shippers. Hence, they are increasingly outsourcing the logistics operations to 3PL providers to achieve improved operational efficiency and cost savings. These factors are driving the growth of the third-party logistics market in Europe.
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Major Five Third-Party Logistics Companies:
A.P. Moller - Maersk AS
A.P. Moller - Maersk AS operates its business through segments such as Ocean, Logistics & Services, Terminals & Towage, and Manufacturing & Others. The company offers various transportation and logistics services, including 3PL, freight forwarding, and logistics services.
C.H. Robinson Worldwide Inc.
C.H. Robinson Worldwide Inc. operates its business through segments such as NAST, Global Forwarding, and All Other and Corporate. The company offers intermodal, global forwarding, and project logistics services for various industries across the globe.
CEVA Logistics AG
CEVA Logistics AG operates its business through segments such as Freight management and Contract logistics. The company offers asset-light third-party logistics services for various small and medium-sized national and multinational companies.
Deutsche Bahn AG
Deutsche Bahn AG operates its business through segments such as DB Long-Distance, DB Regional, DB Arriva, DB Cargo, DB Schenker, DB Netze Track, DB Netze Stations, DB Netze Energy, and Other. The company offers 3PL services across Europe and the world through its subsidiary DB Schenker.
Deutsche Post DHL Group
Deutsche Post DHL Group operates its business through segments such as Post & Parcel Germany, Express, Global forwarding, freight, Supply chain, eCommerce Solutions, and Corporate Functions. The company offers outsourced logistics services such as warehouse management and freight transportation.
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Third-Party Logistics Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Consumer goods
Third-Party Logistics Market Service Outlook (Revenue, USD Billion, 2020-2024)
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