Pune, 25, Nov 2022: Contract Logistics Market report by Maximize Market Research, the market is expected to grow from USD 243.5 billion in 2021 to USD 437.52 billion in 2029, at a CAGR of 7.8% from 2022 to 2029. Leading Players, Market Share Development, Future Insights, Recent Developments, Emerging Trends, and Forecasts for 2029 have all helped in the growth of the global contract logistics market. Trade-related agreements and manufacturing have also seen growth.
Contract Logistics Market Scope and Research Methodology
The report on Contract Logistics Market is a comprehensive analysis that covers trends and highlights prevailing in the Contract Logistics Market, helping clients explore the opportunities and formulate strategies in the market. Analysis of key market players and new entrants is provided based on goods and services offered, revenue, financial status, portfolio, growth strategies, and regional presence. Recent developments regarding acquisitions and mergers, and the strategic stance of the companies with information on joint alliances give an accurate picture of the competitive landscape in the Contract Logistics Market. To understand the products and services of the Contract Logistics Market, segment-wise analysis is conducted by type, function, and end-use industry equipped with, factors affecting the market and current technological changes and innovations adopted. The report also explains in detail the drivers, challenges, restraints, and challenges of the Contract Logistics Market. Regional analysis of the market focusing on the local, regional and global levels is provided to prove as a guide for market followers and entrants to develop pricing and marketing strategies.
The bottom-up approach was used for market estimation and global market trend analysis. Data was collected employing both primary and secondary research methods for a large sample to get accurate inferences. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organizations and government sites, organizational, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to understand the strengths and weaknesses of key companies and PESTLE to grasp the various factors affecting the market. Thus, the report provides a complete overview of the Contract Logistics Market.
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Contract Logistics Market Overview
Contract logistics is a long-term relationship that involves a wide range of services from product or spare part delivery through final end-customer delivery. This includes warehouses, human resources, proper equipment, stock management, dispatch follow-up, after-sales service, and other services.
The logistics service provider becomes an important link in the chain that connects all of the industrial company’s or retailer’s partners and ensures their proper operation. Contract logistics are a great alternative for partners that routinely participate in long-term logistical service contracts in order to develop the contract logistics industry.
The fundamental advantage of contract logistics is cost reduction. They are not only financial investments, such as renting a warehouse, buying automobiles, or hiring new employees, but they also save time. Because a 3PL warehouse is located near an end consumer, for example, long and expensive product delivery may be avoided. However, this isn’t the only advantage of using contract logistics. The research includes information on industry major players as well as contract logistics market driving factors by region. The research examines leading segments, evolving market trends, value chains, significant investment pockets, competitive situations, and the regional environment in depth. The study is an important and useful source of information for major market players, investors, new entrants, and stakeholders in developing future plans and taking action to enhance their market position.
Contract Logistics Market Dynamics
As cloud computing gets traction in 2021, a whole new data processing approach develops. In 2021, technology breakthroughs have changed supply chain and logistics operations. In 2021, the increased usage of supply chain and logistics solutions will result in a shift from on-premise to SaaS. Forecasts indicate that a subscription-based SaaS model will dominate supply chain management by 2021 and beyond. Adopting a cloud-based supply chain system offers benefits such as flexibility, reliability, and cost savings. Because of the widespread use of free and open-source software, the Cloud has become the preferred option for logistics enterprises and organizations globally in driving the contract logistics market. Cloud-based SaaS supply chain solutions provide several benefits. By making operations more accessible and collaborative, it offers a comprehensive perspective of whole logistical operations. The use of a cloud system reduces both upfront and continuing expenditures. It also allows the organization to grow up to meet its demands and enhances supply chain efficiency in the contract logistics sector.
Contract Logistics Market Regional Insights
The North American region dominated the market with a 45 % share in 2021. Warehouse renting from regional logistics providers has grown significantly in the United States in recent years. Increasing service standards, such as e-commerce and same-day delivery, are driving companies to outsource even more services.
Canada is the region’s fastest-growing e-commerce market, while the United States has the biggest and is progressively increasing. E-commerce user penetration in Mexico is very low, but the Mexican e-commerce sector is expected to grow at a reasonable rate over the next five years. The majority of e-commerce companies award logistics service providers warehousing and distribution contracts. Technical solutions that speed up fulfillment processes are required for high-velocity e-commerce business models.
The major contract logistics operators in North America include DHL, XPO Logistics, UPS, FedEx, DB Schenker, and Ryder System. The North American contract logistics industry, on the other hand, is fragmented, with a large number of enterprises engaging in the market and providing services at various levels. Corporations are following the patterns of consolidation and development to gain a foothold in the market. DB Schenker, for example, built three new contract logistics facilities in the United States in 2018 to serve both existing and new customers, as well as moved one existing location to a much larger facility. The company intends to build additional six or seven contract logistics facilities by 2020.
Contract Logistics Market Segmentation
- Aftermarket Logistics
By Industry Vertical:
Contract Logistics Market Key Competitors:
- DB Schenker
- DHL Supply Chain
- Kuehne + Nagel
- Ryder System
- SNCF Logistics/GEODIS
- UPS Supply Chain,
- Yusen Logistics
- Hitachi Transport System
- Neovia Logistics Services
- Ryder System, Inc.
- XPO Logistics, Inc.
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Key questions answered in the Contract Logistics Market are:
- What are the types of logistics?
- Is contract logistics and 3PL the same?
- What is the difference between contract logistics and warehousing?
- Who are the key players in the Contract Logistics Market?
- Who are the market leaders in Contract Logistics in Europe
- Who are the market leaders in Contract Logistics in USA and Canada
- Who are the market leaders in Contract Logistics in India, China, Japan, and South Korea?
- What are the factors affecting growth in the Contract Logistics Market?
- Who held the largest market share in Contract Logistics Market?
- What are the factors for the growth of the Asia-Pacific region in the Contract Logistics Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Segment and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Automotive Logistics Market–The Automotive Logistics Market size is expected to reach USD 632.24 billion by 2029 at a CAGR of 7.51 percent during the forecast period. The demand for logistics services for the transportation of automotive parts, accessories, spare parts, and finished automobiles is increasing as a result of an increase in global vehicle manufacturing. Asia is quickly emerging as the centre of the global automobile industry due to its low labour and tax expenses.
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