Report : Europe Event Logistics Market Forecast to 2031 - Regional Analysis - by Type (Inventory Management, Delivery Management, Freight Forwarding, Pallets and Packaging Services, and Others) and End User (Media and Entertainment, Sports Events, Corporate Events and Trade Fairs, Cultural Events, and Others)
At 6.0% CAGR, Europe Event Logistics Market is Projected to be Worth US$ 46,336.74 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Europe event logistics market was valued at US$ 29,131.97 million in 2023 and is expected to reach US$ 46,336.74 million by 2031, registering a CAGR of 6.0% from 2023 to 2031. Increasing adoption of sustainable solutions and rise in strategic initiatives by key players are among the critical factors attributed to drive the Europe event logistics market growth.
The need for proper transport and logistics services has been rising owing to population growth worldwide. Many countries are shifting to green logistics and services to reduce the environmental impacts of conventional logistics. Sustainable and environment-friendly logistics services highlight lowering emissions by utilizing clean energy sources, such as wind and solar, to power fleet vehicles. As the world is already facing high air pollution levels, especially in major countries such as US, Canada, Saudi Arabia, UAE, Germany, France, China, and India, this sustainable approach is significantly beneficial. By shifting to green transport and logistics for efficient event management, companies are anticipated to take various measures to reduce these emissions. Several event logistics companies across the globe are involved in green logistics practices. Many event logistics firms are supporting shippers to enhance mobility by suggesting environmentally friendly modes of transportation. In 2023, the event logistics arm of DHL Group-DHL Supply Chain's Green Transport Policy-became a part of the company's investment in decarbonized transport solutions and introduced the Green Transport Policy.
Historically, the engineering of pallets and packing technologies has prioritized economic effectiveness and secure shipping over sustainability; however, many event logistics providers are now rapidly moving to eco-friendly packaging to reduce their environmental impact. As recycled waste is utilized in the creation of eco-friendly packaging, fewer harmful resources are leveraged, which lowers overall carbon emissions. Logistic providers such as Borderline help reduce carbon emissions during freight forwarding by raising the fill rate per transport unit per tank of fuel, using higher-capacity vehicles, and performing routine maintenance of transport vehicles. Thus, the increasing adoption of sustainable solutions that focus on reducing carbon footprints aligns with organizations' business strategy, which is anticipated to create lucrative opportunities for the Europe event logistics market growth during the forecast period.
On the contrary, disruptions in supply chain and geopolitical tensions hamper the growth of Europe event logistics market.
Based on type, the Europe event logistics market is segmented inventory management, delivery management, freight forwarding, pallets and packaging services, and others. The freight forwarding segment held 37.4% market share in 2023, amassing US$ 10,901.65 million. It is projected to garner US$ 18,437.75 million by 2031 to register 6.8% CAGR during 2023-2031.
In terms of end user, the Europe event logistics market is categorized into media and entertainment, sports events, corporate events and trade fairs, cultural events, and others. The corporate events and trade fairs segment held 40.2% share of Europe event logistics market in 2023, amassing US$ 11,703.88 million. It is anticipated to garner US$ 19,696.70 million by 2031 to expand at 6.7% CAGR during 2023-2031.
By country, the Europe event logistics market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 27.1% share of Europe event logistics market in 2023. It was assessed at US$ 7,883.11 million in 2023 and is likely to hit US$ 12,835.28 million by 2031, registering a CAGR of 6.3% during 2023-2031.
Key players operating in the Europe event logistics market are C H Robinson Worldwide Inc, CEVA Logistics AG, DB Schenker, Deutsche Post AG, DSV AS, FedEx Corp, GEODIS SA, Kuehne + Nagel International AG, United Parcel Service Inc, and XPO Inc, among others.
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