The global logistics market, in terms of revenue, is set to expand from US$8.1 trillion in 2015 to US$15.5 trillion by 2023, registering a CAGR of 7.5% from 2015 to 2024. By volume, the market is expected to clock in a 6.0% CAGR from 2016 to 2024.
Albany, NY -- (SBWIRE) -- 12/09/2016 -- Logistics is a part of supply chain management that is used to meet the customer demands through the implementation, control and planning of the storage and movement of the goods from origin to destination. The speedy growth in the internet retailing market is driving the growth of the logistics market. Increasing popularity of the online shopping globally is acting as one of the major driver of the logistics market globally. Increase in online shopping is due to increasing access to the internet and growing preference of customers for online shopping. In addition, ease of access, convenience related to the home delivery of objects and advantages such as customization and refinement of results from a variety of objects are supporting the market currently.
Logistics Market: Segmentation
Based on the various transport infrastructures, the logistics market is segmented into road transport, waterways transport, rail transport and air transport. Road transport is further being sub segmented into semi-trailer, truck-trailer, refrigerated truck, flatbed truck, lorry tank and others. Waterways transport is further be classified into dry storage container, open top containers, refrigerated ISO containers, tunnel container, insulated and thermal container and others. Rail transport is further being sub divided into tank railcars, covered hopper railcars, pressure differential railcars, air-slide railcars and others. Air transport is further be classified into deck cargo, upper deck cargo and over size or odd size cargo. Based on the various transport infrastructures of logistics, the road transport segment constituted the biggest market share, followed by the rail transport segment, in 2015. The road transport are largely served in automotive, industrial and manufacturing, oil & gas, fishing, retail, media and entertainment and military, therefore, the segment generates the largest revenue among all the segments in the logistics market. In addition, it is ideal for transporting perishables such as fruits and vegetables. Rail transport follows road transport and is one of the most widely used transport infrastructure to carry goods to various parts of a countries. A train can carry large volume of resources in a short period and so it is preferred by different application sectors.
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Based on the various logistics model types, the logistics market is segmented into first party logistics, second party logistics, third party logistics and others. Rapid growth in internet retailing market such as Amazon, eBay and Walmart among others is one of the major factors that are driving the demand for logistics model types, globally. 2nd party logistics provide their own resources such as warehouse operators and truck owners among others. 2nd party logistics is a resources based carrier, which owns their own means of transportation. 2nd party logistics would be shipping lines which charter, lease or own their ships; airlines, charter or lease their truck and planes companies and lease or own their trucks.
Logistics Market: Region-wise Outlook
By geography, the logistics market is have been classified into four regions namely North America, Europe, Asia-Pacific, and Rest of the World (RoW). Currently, Asia Pacific held the major share of the market, followed by North America, Europe and Rest of the World (RoW). This region is expected to develop at a swift pace with increase in trade with North America and Europe. Regional players are focused on partnerships with players in regions such as Africa. It is expected that trade between China and Africa will surpass the trade between Europe and the U.S. in the coming years.
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Logistics Market: Competitive Landscape
Key players profiled in this report include J.B. Hunt Transport Services (United States), C.H. Robinson Worldwide, Inc. (United States), Ceva Holdings LLC (United Kingdom), FedEx Corp. (United States), United Parcel Service, Inc. (United States), Expeditors International of Washington Inc. (United States), XPO Logistics Inc. (United States), Kenco Group (United States), Deutsche Post DHL Group (Germany), Americold Logistics, LLC (United States) and UTi Worldwide Inc. (United States) among others.
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