North America Contract Logistics Market Revenues to Reach USD 170.63 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mord
Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- In line with a fresh market study entitled "Report on the Contract Logistics Market in North America (2023-2028)," the market value is predicted to be around USD 155.71 billion by 2023. It is projected to show a Compound Annual Growth Rate (CAGR) of 1.85% throughout the anticipated period.
Contract logistics is a collaborative agreement that encompasses various services such as transporting items, exchanging components, and delivering end products to clients. The provider of contract logistics manages every phase of the distribution process and ensures that the final goods reach their destination.
Market forces, projected income prediction, and categorization, rival scenery, and recent advancements, market expansion, forthcoming prospects, and patterns.
The growth of the manufacturing industry.
The growing need for improving work efficiency, reducing costs, and incorporating technology into supply chains.
What are the leading companies in the contract logistics industry in North America?
The market for contract logistics in North America is characterized by a lack of consolidation, as different companies vie for a share of the market by providing services at different price levels. These established players are constantly seeking ways to gain a competitive advantage and attract more customers. One tactic they employ is investing in their operations to expand their presence and reach within the market.
Prominent individuals in the contract logistics market in North America include:
has reached an agreement with Smart Robotics to implement innovative robotic solutions in warehouses. This collaboration aims to enhance productivity and efficiency in the order fulfillment process. By utilizing state-of-the-art technology, DHL Supply Chain will be able to improve its operational performance and provide better services to its customers. The integration of robotics will revolutionize warehouse operations and bring about significant advancements in the logistics industry.
is a leading provider of supply chain management solutions. With a global network spanning 220 countries and territories, UPS Supply Chain Solutions offers a comprehensive range of services to meet the diverse needs of businesses worldwide. Whether it's warehousing and distribution, transportation and freight management, customs brokerage, or e-commerce solutions, UPS Supply Chain Solutions has the capabilities and expertise to optimize supply chains and drive business success. With a customer-centric approach and innovative technologies, they ensure seamless operations and help businesses thrive in the dynamic global marketplace.
(FedEx Supply Chain), also known as FedEx Corporation
Kuehne + Nagel Global Company
J.B. Hunt Transport Services Inc. is a company that provides transportation services. They offer a range of trucking, freight transportation, and logistics solutions. With their extensive network and modern technology, they are able to efficiently and effectively move goods across the country. Whether it's delivering packages to individuals or transporting large shipments for businesses, J.B. Hunt ensures that items reach their destination in a timely manner. They prioritize customer satisfaction and strive to provide exceptional service to meet their clients' transportation needs.
Hellmann is a global logistics company that offers a range of transportation and supply chain management services. With a strong global network and extensive expertise in various industries, Hellmann is able to provide scalable and customized solutions to meet the unique needs of its customers. By utilizing advanced technology and innovative strategies, Hellmann is able to optimize efficiency and streamline operations, ensuring seamless end-to-end delivery. With a commitment to sustainability and social responsibility, Hellmann is dedicated to minimizing its environmental impact and fostering positive relationships with its employees, partners, and communities.
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Report on the Contract Logistics Market in the United States - It is projected that the contract logistics market in the US will experience a compound annual growth rate of more than 3.00% between 2023 and 2028.
The market for contract logistics in the Asia-Pacific region is projected to be worth around $246.69 billion in 2023, and is forecasted to reach $318.59 billion by 2028. This represents a compound annual growth rate of 5.25% between 2023 and 2028.
Important Points from the Report on the North American Contract Logistics Industry:
The growth of online trading is propelling the market forward.
Online shopping is on the rise in Canada, resulting in an actual increase in e-commerce sales. Most e-commerce companies rely on logistics service providers to handle their storage and shipping needs.
As the number of online businesses grows, the popularity of cloud-based warehousing startups is increasing. Instead of committing to long-term leases, these startups offer businesses the flexibility to use warehouse space as and when they need it, according to fluctuations in seasonal demand. This has created a competitive environment for traditional contract logistics providers, as some startups even offer fulfillment services to businesses.
The automotive and manufacturing industries are expected to experience substantial expansion.
The manufacturing industry's accomplishments in logistics rely on proficient management of routes. Providers of logistics use bill of lading and planning for freight to reduce the expenses of shipping products to sellers. Manufacturers who delegate their logistics needs can dodge the financial burdens of wages, benefits, and liabilities associated with employing staff and also make savings on transportation costs.
The majority of supply chain management in North America is primarily carried out by logistics companies. A significant portion of the gearboxes and engines utilized in the automotive manufacturing industry of Mexico are obtained from the United States via imports.
What are the most recent advancements in the contract logistics market of North America?
In June 2022, DHL Supply Chain made a public statement that LocusBots, developed by Locus Robotics, had successfully deployed more than 100 million units in their facilities across North America. This remarkable milestone was reached at the DHL facility located in Hanover Township, Pennsylvania, where they were efficiently fulfilling orders for a renowned clothing retailer.
In February of next year, the life sciences and healthcare division of Deutsche Post DHL Group shared that it will be allocating a sum exceeding USD 400 million towards enhancing its distribution network for pharmaceutical and medical device products. This investment aims to facilitate the delivery of crucial healthcare supplies to both patients and business allies.
Mordor Intelligence has divided the market for contract logistics in North America into different segments based on the type of service, the end user, and the country.
Based on different categories (Projected market size and forecast in terms of monetary value, measured in billions of US dollars, from 2019 to 2028),
According to the market analysis, the size and future projections of the end user segment are based on monetary value in billions of US dollars from 2019 to 2028.
The industry of consumer goods and retail
By nation (Estimation and projection of market volume in terms of monetary value (in billions of US dollars) from 2019 to 2028)
Simply put, if you're a start-up, industry participant, investor, researcher, consultant, business strategist, or anyone interested in gaining insight into this industry, the Mordor Intelligence market research report is essential reading. Take a peek at the report on the Contract Logistics Market in North America (2023-2028).
Mordor Intelligence always keeps a close watch on the latest developments in various industries. Here are a few market reports compiled by our analysts that you might find intriguing:
Report on Hungary's Third-Party Logistics (3PL) Market - Forecasts predict that the 3PL industry in Hungary will experience a compound annual growth rate (CAGR) exceeding 5.00% from 2023 to 2028.
The German market for pharmaceutical third-party logistics (3PL) is predicted to be valued at around $1.92 billion in 2023. Experts anticipate that it will climb to approximately $2.38 billion by 2028, representing a compound annual growth rate (CAGR) of 4.47% within the projected timeframe of 2023 to 2028.
The Singapore 3PL market, which refers to the outsourcing of logistics services, is expected to have a market size of around USD 5.28 billion in 2023. Over the forecast period of 2023-2028, it is projected to grow at a compound annual growth rate (CAGR) of 3.81% and reach around USD 6.37 billion by 2028.
Mordor Intelligence operates as a market intelligence and advisory organization. Our core belief is in forecasting the ripple effects capable of influencing or fundamentally altering market conditions.
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The market for contract logistics in North America, according to Mordor Intelligence.
