The contract logistics market size was valued at $243.60 billion in 2021, and is estimated to reach $505.3 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.
The concept of contract logistics is typically attributed to the long-term assumption of complex logistical service packages by forwarding agents or parcel services. In essence, it is the outsourcing of logistics services to a third company. The contract logistics companies deal with the logistical activities such as the design and planning of supply chains, facility design & management, warehousing & inventory management, transportation & distribution, order processing, and others. This logistics services are vital for price-sensitive customers who require a wider choice of high-quality products with timely delivery. This factor is expected to drive the contract logistics market for key players. For instance, in May 2022, A.P. Moller – Maersk announced a 45,000 sq m cold chain facility in the Waikato District which offered better logistics solutions for both import and export customers, catering for their increasing needs for more efficient, tech-enabled, and temperature-controlled supply chains. This increased their capabilities in offering better services in the contract logistics segment
Download FREE Report Sample : https://www.alliedmarketresearch.com/request-sample/11879
In addition, the contract logistics market has witnessed significant growth in recent years, owing to the improvement in focus on risk management in supply chains and emphasis on escalating need for achieving cost efficiency, task optimizations, and technological integration related to supply chain activity. Furthermore, the companies operating in the market have adopted partnerships, business expansions, and product launches to increase their market share and expand their geographical presence. For instance, in October 2019, CJ Logistics Corporation continued its business expansion under its ‘Pan Asia No.1’ strategy with the official launch of the ‘CJ Logistics Smart Hub Bangna’, the latest parcel central distribution center in Thailand. It is fully equipped with advanced K-logistics technologies and platforms, offers exceptional parcel and logistics services with a maximum daily capacity of 408,000 units responding to market trends and demands as well as to the rapid expansion of e-commerce in the country.
Purchase Enquiry – https://www.alliedmarketresearch.com/purchase-enquiry/11879
COVID-19 Impact Analysis:
The supply chain disturbance created by COVID-19 impacted the competitiveness, economic growth, and led to jobs lost in the contract logistics industry. For instance, according to a report by International Finance Corporation (IFC), total container volumes handled at Chinese ports dropped by 10.1% in the first months of 2020. In addition, air freight volumes fell by 19% in March 2020. Although, there are some industries that are struggling due to the pandemic, but some are thriving such as healthcare & pharmaceuticals, e-commerce, and daily essentials goods industry, which are expected to affect the contract logistics industry positively during the COVID-19 outbreak globally. For instance, according to new data from IBM’s U.S. Retail Index, the pandemic has accelerated the shift away from physical stores to digital shopping. In addition, according to the report from the U.S. Census Bureau 2020, the U.S. retail e-commerce industry reached $211.5 billion, up 31.8% from the first quarter of 2020 and 44.5% year-over-year. However, online food & beverages and essential good demand surged by 11.3% and 36.7%, respectively in the first quarter of 2020.
KEY FINDINGS OF THE STUDY
- By service, the aftermarket logistics segment dominated the global contract logistics market in terms of growth rate.
- By type, the insourcing segment dominated the global contract logistics market in terms of growth rate.
Request Customization : https://www.alliedmarketresearch.com/request-for-customization/11879
- By industry vertical, the retail segment dominated the global contract logistics market in terms of growth rate.
- By mode of transportation, the airways segment dominated the global contract logistics market in terms of growth rate.
The leading players operating in the contract logistics market are A.P. Moller – Maersk, Agility, CEVA Logistics AG, CJ Logistics Corporation, DB Schenker, Deutsche Post AG, DSV, GEODIS, Hellmann Worldwide Logistics, Hitachi Transport System, Ltd., Kuehne+Nagel International AG, Neovia Logistics Services, LLC, Penske, Ryder System, Inc., United Parcel Service, Inc. (UPS), XPO Logistics, Inc., and Yusen Logistics Co., Ltd.
Similar Reports We Have on Logistics Industry:
On-demand Transportation Market Research Report 2022-2030
On-demand Logistics Market Research Report 2022-2030
Logistics Market Research Report 2022-2030
Third-party Logistics (3PL) Market Research Report 2022-2030
Fourth Party Logistics (4PL) Market Research Report
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/automotive-and-transportation