DUBLIN–(BUSINESS WIRE)–The “Third Party Logistics (3PL) – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for Third Party Logistics (3PL) estimated at US$838.9 Billion in the year 2020, 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 $222.1 Billion in 2021, China is Forecast to Reach $328.4 Billion by 2026
The Third Party Logistics (3PL) market in the U.S. is estimated at US$222.1 Billion in the year 2021. 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.
Globalization of trade and liberalization of national economies along with steep expansion in demand for manufactured goods due to various socio-economic factors influenced significant growth in the global manufacturing sector. Escalation in manufacturing activity subsequently resulted in need for well-organized supply chain logistics, while generating substantial opportunities for 3PL services.
A growing number of enterprises are showing higher reliance towards outsourcing various logistics functions including transportation, warehousing, and distribution, thus fueling growth in the 3PL market. On the other hand, availability of industry-specific, tailor-made 3PL services from established logistics services vendors is steering market momentum in a major way. Established 3PL vendors equip themselves with full-fledged road/ground, rail, air, and sea/ocean transportation infrastructure to perform numerous logistics functions including dry van freight, truckload freight, less-than-truckload (LTL) freight, flatbed & heavy freight, bulk freight, refrigerated freight, and intermodal shipments etc., on behalf of client enterprise.
Select Competitors (Total 477 Featured) –
- C. H. Robinson
- CEVA Logistics
- DB Schenker
- DSV A/S
- Expeditors International of Washington Inc.
- FedEx Corporation
- J.B. Hunt Transport Services Inc.
- Kerry Logistics Network Ltd.
- Kintetsu World Express Inc.
- Kuehne + Nagel International AG
- Nippon Express Co. Ltd.
- NYK Line
- Panalpina World Transport (Holding) Ltd.
- Penske Corporation
- Sinotrans (HK) Logistics Limited
- UPS Supply Chain Solutions Inc.
- XPO Logistics Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- 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
- Transportation & Logistics
- A Prelude to Supply Chain Management
- Concept of Logistics
- Transportation Modes in Logistics
- Different Fields of Logistics
- Third Party Logistics (3PL): A Conceptual Definition
- 3PL Market: Services Overview
- Advantages and Drawbacks of 3PL
- Types of 3PL Providers
- Categories of 3PL Providers
- 3PL Service Segments
- Fourth Party Logistics (4PL): An Overview
- Fifth Party Logistic (5PL)
- Third Party Logistics (3PL): A Brief Industry Overview
- The Pandemic Temporarily Pours Troubles for 3PL Providers
- The 3PL Space Post the Pandemic
- Technology-enabled 3PL Providers Sail through the Pandemic
- Complexity in Supply Chain Management Builds Fertile Environment for 3PL
- Increasing Outsourcing of Logistics Operations Helps 3PL Market to Progress at Impressive Rate
- The Rising Tide of B2B & B2C eCommerce Lifts One Boat Higher than the Others Third Party Logistics (3PL)
- Select Global Brands
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
- eCommerce Emerge as New Growth Driver
- E-commerce Challenges for 3PLs
- Omni Channel Retailing Underpins Volume Growth for 3PL Services
- Automotive Logistics: A Lucrative End-Use Vertical
- 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
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/gafrof