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Contract logistics market worth USD 437.52 billion by 2029


Pune, Jan. 05, 2023 (GLOBE NEWSWIRE) — The market is expected to grow from USD 243.5 billion in 2021 to USD 437.52 billion in 2029, at a CAGR of 7.6% over the forecast period from 2022 to 2029 , according to “Contract Logistics Market” study published by Maximize Market Research.

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Contract Logistics Market Scope and Research Methodology

The Contract Logistics market study reports that new product launches and expansion of already existing businesses are expected to benefit the key players to maintain their dominance in the global Contract Logistics market. The market segmentation analysis includes qualitative and quantitative research incorporating the impact of economic and political aspects. The report covers regional and country level analysis integrating the demand and supply forces influencing the market growth, the competitive landscape involving the market share of major players, as well as the new projects and strategies adopted by the players, and comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

The research report involves the extensive use of primary and secondary data sources. The research process involves the study of various factors affecting the industry, including government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, technologies to upcoming and technical progress in related industries, and market risks, opportunities, market barriers and challenges.

Contract Logistics Market Overview

The contract logistics market also provides value-added services, transportation and warehousing, it provides after-sales service, planning and production activities. Growing adoption of IoT and innovation in technologies also, logistics companies are expected to utilize artificial technology which is expected to drive the contract logistics market demand over the forecast period.

The market is expected to grow due to expanding e-commerce sector, rising consumption of food and beverages, rising levels of urbanization, rising trust index consumers and the growing emphasis on environmentally friendly supply chains. However, the lack of skilled workers in developing countries and fierce rivalry will hamper the expansion of the industry. The increase in consolidation activities, technical improvements, the widespread acceptance of the Internet of Things (iot) and the emergence of blockchain services are some important themes.

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Dynamics of the contract logistics market

Cloud-integrated logistics management software helps track, edit, and monitor pricing and inventory in real time. The cloud-based logistics software offers real-time accuracy and comprehensive system and process management. It can trace a single shipment at every stage of its journey, redirect a missing shipment, and save a lot of money on lost items and late deliveries. With cloud-based logistics software, everyone in a trade network can join and exchange real-time data, make quick decisions, and grow to meet the needs of the contract logistics market.

SaaS cloud-based supply chain systems offer a number of advantages. It provides a holistic perspective of all logistics activities by increasing transparency and teamwork. Setting up a cloud infrastructure reduces both upfront and recurring expenses. Additionally, it increases the efficiency of the supply chain in the contract logistics market and provides the ability to scale to meet business needs.

Contract Logistics Market Regional Overview

North America held a 56% market share in 2021. The North American region is expected to witness significant growth throughout the forecast period. Growing demand for e-commerce and same-day delivery is expected to drive the market in the North American region. North American companies are beginning to participate in the market by providing services at different levels. Furthermore, increasing adoption of more integrated services and data management for flexible solutions is penetrating the market growth over the forecast period. While the US market is the largest and is gradually growing, the Canadian e-commerce sector is the fastest growing in the region. The Mexican e-commerce market is expected to grow at a steady pace over the next five years, despite the relatively low penetration of e-commerce users in the country. The majority of e-commerce companies award contracts to logistics service providers for storage and distribution. High-speed e-commerce business models require the deployment of technology tools that accelerate fulfillment processes.

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Segmentation of the contract logistics market

By mode:

  • Exhaust gas recirculation
  • Turbocharger
  • Organic Rankine Cycle
  • Other

By type of vehicle:

  • Particular Cars
  • Light commercial vehicle
  • Truck
  • The buses

By Components:

  • EGR component
  • Turbocharger component
  • Component of the organic ranking cycle
  • Component of thermoelectric generator

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Key Contract Logistics Market Competitors:

  • Siemens AG
  • Mitsubishi Heavy Industries, Ltd.
  • General Electric
  • ABB
  • Boustead International Radiators
  • ForbesMarshall
  • Promec Engineering
  • Terrapine
  • Wood Plc (Amec Foster Wheeler)
  • Climeon; BoschIndustriekessel GmbH
  • AURA GmbH & Co.
  • Exergy SpA
  • IHI Company.

Key offers:

  • Market Share, Size and Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities and Key Trends
  • Market segmentation – A detailed analysis by mode, vehicle type, component and region
  • Competitive Landscape – Top Key Suppliers and Other Significant Suppliers

Maximize Market Research is a leading research company, also published the following reports:

courier services marketThe courier services market size was valued at USD 383.02 billion. in 2021 and Grapheme Battery’s total revenue is expected to grow 5.8% from 2022 to 2029, to nearly $601.32 billion. Growing competitiveness and increasing e-commerce demand and customer expectations are driving the demand for courier services market globally.

Invoice factoring market Invoice Factoring Market was valued at USD 1.92 Billion in 2021 and is projected to reach USD 4.15 Billion by 2029, growing at a CAGR of 10.11% during the forecast period (2022-2029 .

automotive glow plug market : The automotive glow plug market was valued at US$2.9 billion. in 2021 and total revenue is expected to grow by 4.2% CAGR from 2022 to 2029, to nearly US$4.03 billion. Growing use of light commercial vehicles, demand for commercial cars, and hence OEM and aftermarket chain glow plugs, has steadily increased in the region

Supply-as-a-service market : Purchase as a Service Market was valued at USD 3.20 Billion in 2021 and is projected to reach USD 5.30 Billion by 2029, growing at a CAGR of 6.5% during the forecast period (2022-2029 ). Adoption of cognitive sourcing technologies is driving market demand.

Blockchain market as a service: The blockchain-as-a-service market was valued at US$829.2 million. in 2021 and total revenue is expected to increase by 60.1% CAGR from 2022 to 2029, to nearly US$35,792.3 million.

About Maximize Market Research:

Maximize Market Research is a multi-faceted market research and consulting firm comprised of professionals from multiple industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care and automated systems. To name a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competitive analysis, production analysis and demand and customer impact studies.

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