DUBLIN--(BUSINESS WIRE)--The "Third Party Logistics (3PL) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Third Party Logistics (3PL) estimated at US$974.6 Billion in the year 2022, is projected to reach a revised size of US$1.3 Trillion by 2026, growing at a CAGR of 8% over the analysis period.
DTM, one of the segments analyzed in the report, is projected to grow at a 8.3% CAGR to reach US$503.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the ITM segment is readjusted to a revised 7.6% CAGR for the next 7-year period. This segment currently accounts for a 30.8% share of the global Third Party Logistics (3PL) market.
The U.S. Market is Estimated at $237.6 Billion in 2022, China is Forecast to Reach $328.4 Billion by 2026
The Third Party Logistics (3PL) market in the U.S. is estimated at US$237.6 Billion in the year 2022. The country currently accounts for a 24.68% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$328.4 Billion in the year 2026 trailing a CAGR of 9.9% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.5% and 6.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6% CAGR while Rest of European market (as defined in the study) will reach US$358.9 Billion by the end of the analysis period.
DCC/FF Segment Corners to Reach $161 Billion by 2026
Dedicated Contract Carriage (DCC) basically involves supply of trucks, tractors, trailers and drivers and also involves management of various elements across a supply chain. The DCC service typically invalidates the need for maintaining in-house trucking/carriage fleets to carryout logistics operations, while delivering truck capacity utilization and cost efficiencies in the process. In the global DCC/FF segment, USA, Canada, Japan, China and Europe will drive the 8.8% CAGR estimated for this segment.
Select Competitors (Total 477 Featured):
- C.H. Robinson Worldwide, Inc.
- CEVA Logistics
- DACHSER SE
- DB Schenker Logistics
- DHL
- DSV
- Expeditors International of Washington, Inc.
- FedEx Corporation
- FM Logistic
- GEODIS
- Hitachi Transport System, Ltd.
- J.B. Hunt Transport, Inc.
- Kuehne + Nagel International AG
- Nippon Express
- Sinotrans (HK) Logistics Limited
- United Parcel Service of America, Inc.
- Volga-Dnepr Airlines, LLC
- XPO Logistics, Inc
- Yusen Logistics Co., Ltd.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Focus on Automation Rises among 3PL Providers During Pandemic
- 3PL Partners to the Rescue During the Coronavirus Pandemic
- 3PLs Prove to be Advantageous During Crisis Periods
- Surge in Online Shopping: A Saving Grace for the US 3PL Market
- COVID-19 Impact on Key End-Use Industries
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Manufacturing Sector: Driving Force behind 3PL Market Growth
- 3PL Assumes Critical Importance in Manufacturing Domain
- Expanding Retail Industry Generates Significant Opportunities
- Select Leading Retail Enterprises by Country: A Snapshot
- Global Retail Sector by Product Category (2021E): Percentage Breakdown of Revenues for Clothing & Accessories, Diversified, FMCG, and Leisure Goods
- eCommerce Emerge as New Growth Driver
- Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
- Leading Retail E-Commerce Countries Worldwide: Ranked by Sales in US$ Billion for 2019
- Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
- E-commerce Challenges for 3PLs
- Omni Channel Retailing Underpins Volume Growth for 3PL Services
- Global Retail Omni-Channel Commerce Platform Market in US$ Million by Region/Country: 2019 & 2025
- Automotive Logistics: A Lucrative End-Use Vertical
- Global Automobile Production in Million Units: 2008-2022
- Transportation Services Drive Momentum
- Procurement Logistics Resolve Inbound Transportation Needs
- Distribution Logistics Simplify Outbound Movement of Products
- Production Logistics for Diverse Logistics Needs of Modern Production Lines
- Value Added Services Widen the Scope & Span of 3PL Market
- Reverse Logistics: A High-Utility Value-Added Service
- Multi Modal Transportation Finds Favor
- Key Drivers of the 3PL Market
- Globalization and Rising Trade
- Expansion of eCommerce Industry
- Increasing Focus on Core Competencies
- Focus on Embracing Advanced Technology
- Market Restraints
- Lack of Manufacturer Control on Logistics Service
- Manufacturer Reputation at Stake
- 3PL Providers Invest in IT Capabilities to Differentiate from Competition
- Key Opportunities for Warehouse Operators to Leverage Technology
- Warehouse Expansion vis-a-vis Labor Shortage
- Mounting Pressure to Push Bottom Lines
- eCommerce & Omni Channel Opportunity
- Improving Customer Experience
- Intense Competition from Amazon
- Technology Tools Seek Wider Role in 3PL Domain
- TMS Makes Its Way into 3PL Domain
- WMS Gaining Traction in Warehouse Management
- Cloud Technology Seeks to Expand Share in 3PL Technology Mix
- BI Systems Take Center Stage
- Big Data Emerges as New Focus Area
- Global Adoption Rates (in %) of Big Data Technologies by Industry (2021E)
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/cpdk6a
