Report : Europe Third Party Logistics Market Forecast to 2030 - Regional Analysis - by Mode of Transports (Roadways, Railways, Waterways, and Airways), Services (International Transportation, Warehousing, Domestic Transportation, Inventory Management, and Others), and End user (Automotive, Healthcare, Retail, Consumer Goods, and Others)
At 4.9% CAGR, Europe Third Party Logistics Market is Speculated to be Worth US$ 479.85 Billion by 2030, says Business Market Insights
According to Business Market Insights’ research, the Europe third party logistics market was valued at US$ 327.76 billion in 2022 and is projected to reach US$ 479.85 billion by 2030, registering a CAGR of 4.9% from 2022 to 2030. Surging adoption of e-commerce and increasing trends of sustainability are among the critical factors attributed to drive the Europe third party logistics market growth.
Many large and medium-sized organizations are taking initiatives to optimize their business processes to reduce carbon footprints. The transportation and logistics sector is among the major contributors to carbon emissions, accounting for approximately 27% of the total emissions. Many third-party logistics firms are helping shippers improve mobility by planning more effective routes, using environmentally friendly modes of transportation, and occupying key places. Third-party logistics providers such as Borderline help reduce carbon emissions during the transportation stage of distribution by raising the fill rate per transport unit per tank of fuel, using higher-capacity vehicles, and performing routine maintenance of transport vehicles. While historically, the engineering of packing technologies has prioritized economic effectiveness and secure shipping over sustainability, many third-party logistics providers are rapidly moving to eco-friendly packaging to reduce their environmental impact. As recycled waste is used in the creation of eco-friendly packaging, fewer harmful resources are used, which lower overall carbon emissions. Initiatives like these that focus on reducing carbon footprints are aligning with organizations' business strategy, ultimately driving the third-party logistics industry. In addition, governments of developed nations are compelling organizations to adopt greener practices. As a result, many manufacturing companies are searching for third-party logistics providers that have introduced eco-friendly efforts in light of this trend. Some of the practices involve minimizing waste production, lowering the carbon footprint of transportation, and adopting recyclable or environmentally friendly packaging.
On the contrary, reduced control of manufacturer hampers the growth of Europe third party logistics market.
Based on mode of transports, the Europe third party logistics market is segmented into roadways, railways, waterways, and airways. The roadways segment held 33.8% market share in 2022, amassing US$ 110.92 billion. It is projected to garner US$ 159.49 billion by 2030 to register 4.6% CAGR during 2022–2030.
In terms of services, the Europe third party logistics market is segmented into international transportation, warehousing, domestic transportation, inventory management, and others. The domestic transportation segment held 26.2% share of Europe third party logistics market in 2022, amassing US$ 85.97 billion. It is anticipated to garner US$ 124.86 billion by 2030 to expand at 4.8% CAGR during 2022–2030.
Based on end user, the Europe third party logistics market is segmented into automotive, healthcare, retail, consumer goods, and others. The others segment held 44.7% market share in 2022, amassing US$ 146.50 billion. It is projected to garner US$ 206.31 billion by 2030 to register 4.4% CAGR during 2022–2030.
Based on country, the Europe third party logistics market is categorized into Germany, France, Italy, Spain, the UK, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 45.9% share of Europe third party logistics market in 2022. It was assessed at US$ 150.43 billion in 2022 and is likely to hit US$ 197.99 billion by 2030, registering a CAGR of 3.5% during 2022–2030.
Key players operating in the Europe third party logistics market are C H Robinson Worldwide Inc, DB Schenker, DSV AS, GEODIS SA, Kuehne + Nagel International AG, Nippon Express Co Ltd, Sinotrans Ltd, Torello Trasporti Srl, United Parcel Service Inc, and XPO Inc, among others.
- In March 2020, XPO Logistics, Inc. signed a long-term partnership agreement with Mercedes-Benz Parts Logistics. This agreement will the allow the company to manage parts distribution in the UK with an integrated and digitally managed transportation network.
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