The global freight and logistics market is expected to exhibit a strong 3.5% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global freight and logistics market was valued at USD 13.2 billion in 2018. The report profiles the historical growth trajectory of the global freight and logistics market in order to provide readers with a complete overview of the market’s growth trajectory over the review period. The information about the market’s historical growth also serves as a solid platform for future projections about the market’s likely growth trajectory over the forecast period. Major players in the global freight and logistics market are also profiled in the report in order to give readers an accurate overview of the market’s competitive landscape. The impact of the COVID-19 pandemic on the global freight and logistics market is also studied and examined in the report.
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Freight and logistics services refer to the movement of raw materials as well as finished products across the world. Freight and logistics services play a crucial role in the industrial sector, as movement of goods and commodities is absolutely vital for ensuring smooth production in the manufacturing sector. The growing manufacturing sector over the world is likely to be a major driver for the global freight and logistics market over the forecast period. The manufacturing sector has been a major beneficiary of the growing global population, as this has driven the demand for various consumer goods around the world. Every region across the world is involved in freight and logistics activities, as urbanization has been a major constant in regions across the world over the last few years. The growing urban population around the world is likely to remain a major driver for the global freight and logistics market over the forecast period, as this is likely to drive the demand for consumer goods over the forecast period.
The growing ecommerce sector is also likely to be a major driver for the global freight and logistics market over the forecast period. Ecommerce operations require reliable freight and logistics services, as the delivery dates and related commitments need to be kept in order to maintain the company’s reputation. In order to serve their clients better, freight and logistics companies have brought about several new innovations in the last few years aimed at making logistics services more reliable and precise. This is also likely to remain a major driver for the global freight and logistics market over the forecast period.
Competitive Leaderboard:
Leading players in the global freight and logistics market include Nippon Express, Walmart Group, FedEx Corp., United Parcel Service, Panalpina, C. H. Robinson, DB Schenker Logistics, Deutsche Post DHL, The Maersk Group, Kuehne + Nagel, and DSV Global Transports and Logistics.
In October 2019 FedEx Express package launched the first commercial drone-delivery service to residences in US.
In 2019, DHL Group have invested nearly USD 137 Mn at cologne-Bonn airport for new logistics. The new 15,000 sq m logistics center is equipped with cutting edge sorting technology and an innovative system to heat and cool the warehouse and offices. Also, the DHL Group has announced an investment of USD 2.2 billion in digitalization through 2025.
Segmentation
The global freight and logistics Industry has been segmented based on shipping type, service, and end-use industry.
By shipping type, the global freight & logistics market has been segmented into airways, railways, roadways, and waterways. The waterways segment is expected to hold largest market share and will show highest growth rate owing to the expansion of cold chain logistics and growing demand for perisables.
Based on service, the global freight and logistics market is segmented into warehousing, transportation, inventory management, packaging, custom clearance, distribution, and others. The warehousing segment holds the dominant share owing to the growing cold chain logistics infrastructure and capacity of storing perishable goods and non-perishable goods.
Based on end-use industry, the market has been segmented into banking and financial services, energy & utilities, trade and transportation, healthcare, manufacturing & construction, retail, media and entertainment, government and public utilities, telecommunication & information technology, and others. The manufacturing & construction segment holds the largest market share due to the growing import/export of raw materials and improvement of supply chain through continuous analysis of data.
Regional Analysis
The global freight and logistics market has been segmented, based on region, into Europe, North America, the Middle East & Africa (MEA), Asia Pacific (APAC), and South America.
APAC holds the largest market share in 2018 and is expected to maintain its dominancy during the forecast period. The market growth is attributed to the expanding e-commerce and retail sector in emerging countries of India, China, and others. As per Indian Brand Equity Foundation (IBEF), the e-commerce sector is growing more than 50% growth rate annually and will reach a value of USD 200 billion by 2026.
Europe is expected to contribute to the global freight and logistics market owing to the establishment of logistics service providers and partners in trading countries. It currently holds the second-largest market share. Rise in spending of customers, decline in road freight rates, and the outbreak of the COVID-19 pandemic can play a pivotal part in the market.
Competitive Outlook
FedEx Corp., United Parcel Service, Deutsche Post DHL, DB Schenker Logistics, Panalpina, C.H. Robinson, The Maersk Group, Kuehne+ Nagel, Nippon Express, Walmart Group, DSV Global Transports and Logistics, and others are key players of the global freight and logistics market. Collaborations and acquisitions are major strategies of players in the market for sustaining their position in the coming years.
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