Third-party Logistics (3PL) Market

On the basis of mode of transport, the airways segment is anticipated to exhibit a remarkable growth rate during the forecast period.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, June 4, 2024 /EINPresswire.com/ -- The global 𝐓𝐡𝐢𝐫𝐝-𝐩𝐚𝐫𝐭𝐲 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 (𝟑𝐏𝐋) 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at $1.3 trillion in 2021, and is projected to reach $2.8 trillion by 2031, growing at a CAGR of 8.8% from 2022 to 2031. Rise in trading activities due to globalization, increase in focus of manufacturers and retailers on core competencies, and development of the e-commerce industry coupled with progress in reverse logistics operations fuel the growth of the global third-party logistics (3PL) market. On the other hand, lack of control of manufacturers on logistics service impedes the growth to some extent. However, increase in use of IT solutions & software and reduction in cost cutting and lead time due to adoption of multi-modal system are expected to create multiple opportunities in the industry.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/1512

Based on industry, the technological segment accounted for more than one-fourth of the global 3PL market revenue in 2019, and is projected to rule the roost till 2027, owing to increase in internet connectivity and rise in trend of ordering goods from e-commerce websites. At the same time, the food & groceries segment would register the fastest CAGR of 9.6% during the study period. Integration of distribution network in food start-ups to transport foods propels the segment growth.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

C.H. Robinson Worldwide, Inc., Geodis, FedEx Corporation, United Parcel Service of America, Inc., a.p. moller - maersk, XPO Logistics Inc., Kuehne+Nagel Inc., DHL International GmbH, db schenker, DSV

Third-party logistics is an outsourced activity related to the management of flow of goods in a supply chain of the company and its delivery of products from the manufacturer to the consumer on time. These services go beyond logistics and include value-addition to the entire process from procurement of goods to the distribution of furnished products to the customers establishing an effective and efficient supply chain. 3PL services are used by retailers and manufacturers to focus on their respective core competencies by outsourcing secondary services. For instance, in May 2020, Rhenus Group acquired the logistics group LOXX, which specializes in general cargo, less-than-truckload (LTL), and full truckload (FTL) business segments to improve the LTL and domestic transportation capabilities of the company in Germany.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/6bb5c84aa48cc3a39def7b52fddfd2a4

Based on mode of transport, the roadways segment contributed to more than two-fifths of the global 3PL market share in 2019, and is expected to lead the trail by the end of 2027. This is due to improvement of road infrastructure and increase in cross-border trade among the landlocked countries across the world. The airways segment, on the other hand, would grow at the fastest CAGR of 13.1% throughout the forecast period. Various airlines are launching dedicated flights for logistics to provide fast and urgent transportation service across different regions. This factor has driven the growth of the segment.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Asia-Pacific, followed by North America, held the highest share in 2019, generating nearly two-fifths of the global 3PL market. Initiatives by the e-commerce industry for incorporation of warehouse projects and IT solutions in the supply chain drive the growth. At the same time, the region across LAMEA would cite the fastest CAGR of 10.4% from 2020 to 2027. This is attributed to the growing alliance between the e-commerce industry and third-party logistics companies

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1512

Furthermore, third-party logistics service providers open and invest in the incorporation of new warehouses for storage and distribution of goods. For instance, in February 2022, DSV expanded its warehousing capacity by constructing additional warehouses in Limburg. These warehouses offered additional cross-dock, storage, and offices for the customers and employees of the road and solutions divisions, as well as the joint shared service center. Also, the demand for economical transportation facilities for the movement of bulk goods is expected to boost the growth of the Third-party Logistics (3PL) Market. Moreover, surge in penetration of completely automated warehousing distribution systems is extremely less, which is expected to provide a remarkable growth opportunity for the key players operating in the third-party logistics market.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

On the basis of mode of transport, the airways segment is anticipated to exhibit a remarkable growth rate during the forecast period.

On the basis of service type, the Dedicated Contract Carriage (DCC) segment is anticipated to exhibit a remarkable growth rate during the forecast period.

On the basis of industry, the healthcare segment is anticipated to exhibit remarkable growth rate during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Energy Logistics Market - https://www.alliedmarketresearch.com/energy-logistics-market-A07811

Secure Logistics Market - https://www.alliedmarketresearch.com/secure-logistics-market-A14801

Europe Cold Chain Logistics Market - https://www.alliedmarketresearch.com/europe-cold-chain-logistics-market-A11032

U.S. Third-Party Logistics Market - https://www.alliedmarketresearch.com/u-s-third-party-logistics-3pl-market-A105892

David Correa
Allied Market Research
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