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Top Markets and Trending Segments for Truck-Mounted Cranes

truck-mounted demand
Global Logistics, Technology, Trucking

Top Markets and Trending Segments for Truck-Mounted Cranes

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Truck-mounted cranes are cranes mounted on top of trucks. These cranes are attached to the rear side of the trucks and used to load and unload the goods or to move heavy equipment or materials. 

Truck-mounted cranes require less space and are portable. They also don’t need support structures and can be transported from one industrial plant to another very easily. They can rotate in 360 degrees carrying goods from every corner. Also, they reduce the running costs. They provide better flexibility and reliability as compared to the immobile cranes supported by structures. 

Truck-mounted cranes are available in several drives like electrical, hydraulic, and mechanical. According to the Consegic Business Intelligence report on the Truck-Mounted Cranes Market, in 2022, electric truck-mounted cranes held the largest market share at about 47.21%. Electric truck-mounted cranes are recommended by industry experts, as they are more efficient to fuel truck-mounted cranes, and also are more efficient and emission-free. Hydraulic truck-mounted crane is expected to have the fastest growth in the upcoming decade. These cranes use hydraulic power to lift and release materials or objects.

Truck-mounted cranes also vary by capacity ranging from below 15 tons to above 50 tons. Different capacity cranes are used for different purposes. The 15-30 ton cranes are a popular choice as they are more portable, flexible, stable, and can be transported easily. There is an increase in demand for high-capacity cranes for construction, and cargo handling purposes so the demand for 30-50 ton cranes is expected to rise in the next few years. 

Truck-mounted cranes are used in various industries like agriculture, construction, cargo handling, and electric line maintenance. With the integration of advanced technologies like IOT (Internet of Things) or engines with low carbon emission, truck-mounted cranes are expected to have a CAGR of 5.5% from 2022 to 2030.

Truck-mounted cranes have the largest revenue from North America in 2022 valued at USD 3,732.96 Million and are expected to show a stupendous growth of 5.6% CAGR in the upcoming years. The need for truck-mounted cranes in North America for logistics, construction, cargo handling, etc. has increased demand. The industrial growth in these regions along with the growth in international trade has pushed further the demand for truck-mounted cranes. Asia Pacific region is predicted to have the fastest CAGR of 5.9% in the upcoming decade surpassing the North American region. The industrial growth and the economic boost in the Asia-Pacific region have boosted the growth and need for truck-mounted cranes. Even in this China alone holds the 27.1% market share in 2022. Countries like India and China are focusing on construction and development projects, also the huge population and availability of the raw materials in these regions is another cause for a higher demand for truck-mounted cranes. 

The high manufacturing costs for truck-mounted cranes can be obstacles in the path of the growing demand. But by using efficient and advanced technologies the production and running costs can be reduced. Truck-mounted cranes are growing in demand and are expected to see a whopping rise as the need for handling heavy materials and objects increases due to the increase in construction and developmental projects.

Author

Jayesh Kamble: I’m Jayesh Kamble, a Professional Content Writer at Consegic Business Intelligence, with expertise in the Machinery and Equipment Industry.

Source: Consegic Business Intelligence: Truck Mounted Crane Report

 

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Global Logistics, Global Trade Daily

Smart Fleet Management Market is projected to reach $141.1 Bn by 2032

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The Smart Fleet Management Market is set to grow from its current market value of more than $65.8 billion to over $141.1 billion by 2032; as reported in the latest study by Global Market Insights, Inc.

Businesses seek operational efficiency and cost savings, fostering a growing reliance on smart solutions. The integration of advanced connectivity technologies, including IoT and telematics, will propel real-time monitoring and analytics, shaping a dynamic landscape for the smart fleet management industry. This synergy of intelligent solutions and connectivity advancements aligns with the industry’s evolving needs and significantly contributes to market expansion.

For instance, in 2023, JLG Industries, a prominent leader in mobile elevating work platforms (MEWPs) and telehandlers, unveiled a preview of the innovative ClearSky Smart Fleet™. This advanced Internet of Things (IoT) platform offers genuine two-way fleet management and machine interactivity, marking a significant advancement in the industry’s technology landscape.

The overall smart fleet management market is segregated based on type of component, transport mode, and region.

The software segment will achieve a remarkable market share by 2032, attributed to the increasing importance of data-driven insights and connectivity. As the demand for real-time monitoring and analytics surges, fleet operators are inclined toward advanced software solutions. These enable efficient route planning, maintenance scheduling, and overall performance optimization. With a focus on leveraging technology for streamlined operations, the software segment will stand out as a leading contributor to the ever-evolving landscape of the smart fleet management industry.

The industry size of the airways segment will garner substantial gains through 2032, owing to the aviation industry’s emphasis on operational efficiency and safety. As airlines prioritize real-time monitoring and data-driven decision-making, sophisticated fleet management solutions become essential. From optimizing fuel consumption to predictive maintenance, airways leverage advanced technologies for a competitive edge. The adoption of smart fleet management in the aviation sector will underscore its pivotal role in enhancing overall performance and cost-effectiveness within the dynamic landscape of airline operations.

Asia-Pacific smart fleet management market will expand at a notable CAGR during 2023 and 2032, driven by a convergence of factors such as rapid urbanization, increasing commercial activities, and technological adoption. The dynamic business landscape and a growing emphasis on operational efficiency fuel the demand for smart fleet solutions across APAC. With a burgeoning fleet ecosystem and a keen focus on advanced technologies, Asia-Pacific will emerge as a pivotal force in shaping the smart fleet management market, reflecting the region’s commitment to harnessing innovative solutions for enhanced transportation and logistics efficiency.

Source: https://www.gminsights.com/industry-analysis/smart-fleet-management-market 

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Global Logistics, Global Trade Daily, Market insight, News

Global Third-Party Logistics Market Size is Estimated at US$ 2,144 Billion by 2032

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The global third-party logistics market is poised to achieve a valuation of US$ 2,144 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 7.6% projected for the period spanning 2022 to 2032. The primary drivers of this growth are the increasing adoption of smart technology and the heightened awareness of e-commerce.

According to Fact.MR, the global third-party logistics market is expected to surpass a value of US$ 1,031 billion in 2022. The surge in industrial activities and the enhancement of foreign trade operations, which demand efficient transportation and storage systems, will drive the demand for third-party logistics services.

Moreover, the rising need for essential medicines and vaccines, along with a growing emphasis on outsourcing logistics services, will stimulate the adoption of third-party logistics within the healthcare sector.

The advent of e-commerce platforms across various sectors, including healthcare, railway, automotive, and more, has led to an increased demand for streamlined supply chain management to enhance revenue. Consequently, end-users are turning to smart third-party logistics solutions to ensure productivity and profitable returns.

As per the study, the manufacturing segment is expected to be the dominant force in the global market, particularly due to rapid expansion in the United States, Mexico, and India. The adoption of third-party logistics for manufacturing automotive products and enhancing customer service is fostering a favorable market environment. In response, key players are targeting the North America and South Asia markets to capitalize on the growing applications in the manufacturing industry.

For example, in April 2021, Flipkart, a leading e-commerce platform in India, announced a partnership with Mahindra Logistics Limited to streamline the deployment of electric vehicles within its logistics fleet.

Key Takeaways:

·         The global third party logistic market is expected to be worth US$ 955 billion in 2021.

·         North America is expected to have the highest market share in 2022, amounting for 40% of the overall share.

·         Based on service, the domestic transportation management (DTM) segment is anticipated to hold 32% share through 2032.

·         In terms of end-use, the manufacturing segment is anticipated to account for 24% of the revenue share in 2022.

·         Asia Pacific third party logistics market is expected to grow at 10% CAGR owing to the growing focus on transportation and logistics infrastructure.

Growth Drivers:

·         The incorporation of advanced technologies such as machine learning, artificial intelligence, and the internet of things into third-party logistics will boost the market.

·         Rising emphasis on shipping cost reduction, seasonal variation management, lowering reliance on firm assets, and timely delivery management will boost the industry.

Restraints:

·         The adoption of third-party logistics is expected to be hampered by stringent government laws and regulations governing shipping activities.

·         The producer’s lack of control over logistics and warehousing operations is expected to hinder market expansion.

Competitive Landscape:

To enhance their worldwide footprint, key businesses are working on various methods such as mergers and acquisitions, partnerships, collaborations, and joint ventures. Furthermore, in order to maintain their market position, prominent firms are expanding their product ranges by creating production facilities.

For instance,

·         In October 2021, Nippon Express enhanced its presence in the Republic of Serbia by opening the Belgrade Branch. This development intends to broaden logistics services in order to suit the changing logistical demands of Central and Eastern Europe.

·         In 2021, DHL, the global logistics giant, has formed a relationship with Embark, a major firm in North America that develops autonomous trucking technology. DHL intends to put these trucks into its operations based on this strategy once the software is publicly available in 2024. The primary goal is to maximize value while reaping the projected benefits of speed, safety, and sustainability.

Key Companies Profiled by Fact.MR

·         Kuehne + Nagel

·         Yusen Logistics Co. Ltd.

·         Burris Logistics

·         CEVA Logistics

·         United Parcel Service of America, Inc.

·         BDP International

·         FedEx

·         DSV

·         DB Schenker Logistics

·         XPO Logistics, Inc.

·         C.H. Robinson Worldwide, Inc.

·         Nippon Express

·         J.B. Hunt Transport, Inc.

More Valuable Insights on Third Party Logistics Market

In the latest study, Fact.MR offers a detailed study on global third party logistics market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of third party logistics through detailed segmentation as follows:

By End Use:

·         Automotive

·         Manufacturing

·         Healthcare

·         Retail

·         Other

By Transport:

·         Airway

·         Railway

·         Roadway

·         Waterway

By Service:

·         Value Added Logistics Services (VALs)

·         Domestic Transportation Management (DTM)

·         Warehousing &Distribution (W&D)

·         Dedicated Contract Carriage (DCC)/Freight forwarding

·         International Transportation Management (ITM)

By Region:

·         North America

·         MEA

·         Latin America

·         Europe

·         Asia-Pacific

Key Questions Covered in the Third Party Logistics Market Report

·         What is the projected value of the third party logistics market in 2022?

·         At what rate will the global third party logistics market grow until 2032?

·         Which are the factors hampering the growth in the third party logistics market?

·         Which region is expected to lead in the global third party logistics market 2022-2032?

·         Which are the factors driving the third party logistics market during the forecast period?

·         What is the expected market value of the third party logistics market during the forecast period?

Archives, Global Logistics, Global Trade Daily

Global Third-Party Logistics Market to Generate Revenue of Over US$ 2,349.2 Billion By 2031

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Global third-party logistics market was valued at US$ 1,112.6 Bn in 2022 and is estimated to reach US$ 2,349.2 Bn by 2031. The market is registering a growth at a CAGR of 8.7% during the forecast period 2023-2031. This growth is largely driven by the increased demand for integrated supply chain solutions and services as businesses strive to become more efficient and cost-effective.

However, the recent outbreak of the Russia-Ukraine war has caused severe disruption to the global economy, and the 3PL industry is not immune to these adverse effects. This conflict has reduced consumer confidence throughout the world, thereby reducing spending, which has in turn affected the demand for 3PL services. Additionally, the travel restrictions imposed due to the conflict have resulted in increased transportation costs and a slowdown in the delivery of goods.

Despite these challenges, the third-party logistics market is still expected to experience steady growth in the near future, as companies continue to realize the value of outsourcing their supply chain operations. This is evidenced by the adoption of advanced technologies such as AI and blockchain, which are being widely used to improve the efficiency and cost-effectiveness of 3PL operations. Companies are also increasingly investing in digital solutions such as warehouse management systems, fleet management systems and order management systems, which are enabling them to better track their shipments and optimize their supply chain operations.

Top 6 Trends in the Global Third-Party Logistics Market

The Third-Party Logistics (3PL) services industry has seen significant growth in recent years as businesses continue to search for cost-effective, reliable logistics solutions. As such, it’s important to stay up-to-date on the latest trends and developments to ensure that your business is making the most of its 3PL services. Here are some of the top trends in 3PL services to watch in 2022 and beyond:

1. Increased Automation: Automation has become increasingly prevalent in the 3PL industry, from warehouse robots to automated order scanning and processing. Automation can reduce costs and improve accuracy and efficiency, so many businesses are now turning to automated 3PL services.

2. Data Analytics: 3PL providers are increasingly harnessing the power of Big Data analytics to gain insight into customer demands, inventory levels, delivery times, and more. This helps them better serve their customers and provide a higher level of service.

3. Sustainable Practices: Sustainability has become an increasingly important factor for many businesses, and this is reflected in the third-party logistics market. 3PL providers are increasingly embracing eco-friendly practices, such as reducing fuel consumption and emissions, and utilizing renewable energy sources.

4. Digitalization: Digitalization has been a major trend across industries in recent years, and the 3PL industry is no different. 3PL providers are increasingly shifting to digital processes and technologies such as digital freight matching and route optimization software to streamline operations.

5. Cloud Computing: Cloud computing is transforming the logistics industry by providing 3PL providers with access to powerful analytics and data storage capabilities. By leveraging cloud technology, 3PL providers are able to better manage data and optimize their services.

6. Artificial Intelligence (AI): AI has become increasingly commonplace in the 3PL industry, with applications such as AI-driven route optimization and predictive shipment forecasting helping companies to improve efficiency and reduce costs.

These are just some of the trends that are shaping the third-party logistics market in 2022 and beyond. As the industry continues to evolve, businesses should stay informed about the latest developments to ensure that they are leveraging the best 3PL services available.

Roadways to Bring in over 44% Revenue of the Global Third-Party Logistics Market

The report states that the transportation and warehousing industry will benefit from more efficient management of its operations. This will be driven by increasing demand for dedicated contract carriage services and airways mode of transport.

The report also highlights that the global market will see a CAGR of 8.2% during the forecast period. This growth is attributed to the growth in global e-commerce, the expansion of cross-border trade activities, and the increased focus on supply chain optimization. Roadways are expected to account for the largest share of the global third-party logistics market due to their long-term sustainability, cost effectiveness, and reliability.

Furthermore, the A&A Top 50 Global Third-Party Logistics Providers (3PLs) list shows that roadways are playing an increasingly important role in the 3PL industry. They are helping businesses reduce costs, improve efficiency, and better manage their supply chains. Companies such as DHL, Kuehne + Nagel, and XPO Logistics are leading the way in the adoption of roadways for 3PL services.

It is evident that roadways are playing a crucial role in the global third-party logistics market. Companies are increasingly turning to them to reduce costs, improve efficiency, and better manage their supply chains. With the use of dedicated contract carriage services and airways mode of transport, the roadways segment is expected to account for over 44% of the total revenue by 2031.

Domestic Transportation Management to Captur Over 36% Revenue Share in Global Third-Party Logistics Market

The market is mainly driven by factors such as the rising demand for efficient transportation solutions, increasing need for cost-effective logistics services and improved customer service. As per the report, domestic transportation management is expected to capture over 36% of the global third-party logistics revenue share in the coming years.

Domestic transportation management involves the coordination of various activities related to the movement of goods within a country’s borders. This includes planning, scheduling, tracking, and monitoring shipments from the point of origin to the destination. It also involves managing other logistics processes such as warehousing, inventory management, and order fulfillment. In addition, domestic transportation management enables organizations to improve their supply chain efficiency and reduce costs associated with transportation and logistics.

The increasing adoption of digital technologies such as artificial intelligence (AI), cloud computing and the Internet of Things (IoT), has enabled organizations in the global third-party logistics market to automate their domestic transportation management functions. This has enabled them to optimize their operations and improve customer service. Additionally, the growing demand for cost- Effective solutions, improved customer service and better visibility into transportation operations are driving the demand for domestic transportation management services.

Furthermore, the emergence of autonomous vehicles and drones has made it possible to transport goods more efficiently, which has also increased the adoption of domestic transportation management services. This, coupled with government initiatives to improve the transportation infrastructure across various countries, is expected to drive the growth of the global third-party logistics market during the forecast period.

Global Third-Party Logistics Market is Highly Competitive: Top 5 Players Holds Less than 23% Market Share

The global third-party logistics (3PL) market is highly competitive, with a large number of players operating in the market. The competition in the market is primarily driven by factors such as price, quality of service, innovation, and customer service. Key players in the market are continuously striving to enhance their market position by implementing various strategies, such as expanding their global presence, entering into strategic partnerships, and investing in research and development activities.

Some of the leading players in the global third-party logistics market include DHL International GmbH, Kuehne+Nagel Inc., DB Schenker, Nippon Express, and FedEx Corporation. These companies have a strong brand image and have established a broad customer base, which provides them with a competitive advantage in the market. In 2022, top five players held over 22% market share.

In addition to established players, the market also has a significant number of regional and local players that operate in specific regions or countries. These players have a strong regional presence and are well-positioned to cater to the needs of local customers.

Overall, the global third-party logistics market is characterized by intense competition, with players constantly vying for market share and seeking to establish themselves as the leading player in the market. In this highly competitive environment, companies are continually seeking new and innovative ways to improve their offerings and better meet the evolving needs of customers.

Prominent Players in Global Third-Party Logistics Market:

  • DHL INTERNATIONAL GmbH (DEUTSCHE POST DHL GROUP)
  • KUEHNE+NAGEL INC.
  • DB SCHENKER (DB GROUP)
  • NIPPON EXPRESS
  • C.H. ROBINSON WORLDWIDE, INC.
  • UNION PACIFIC CORPORATION
  • FEDEX CORPORATION
  • UNITED PARCEL SERVICE (UPS)
  • PANALPINA WORLD TRANSPORT LTD.
  • MAERSK
  • Other Prominent Players
wagner circle third-party logistics market
Archives, Global Logistics, Global Trade Daily, Market insight

UAE Third-Party Logistics Market to Worth US$ 6,529.7 Million By 2030

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UAE third-party logistics market is projected to attain a market valuation of US$ 6,529.7 Million by 2030 at a CAGR of 6.5% during the forecast period 2023-2030.

The UAE Third-Party Logistics market is thriving and offers endless opportunities for international businesses looking to tap into the Middle East and North Africa (MENA) market. The country’s strategic location, advanced infrastructure, and supportive government policies make it a prime destination for companies seeking cost-effective and efficient supply chain management solutions.

The growth of e-commerce and the increasing use of technology in logistics operations have driven the demand for 3PL services in the UAE. This, in turn, has led to the expansion of the industry and a steady growth in the market. The UAE Third-Party Logistics market is also keeping up with the global trends by embracing automation, technology, and green logistics solutions. This is in line with the government’s focus on providing customized and value-added services to customers.

Import and Export Activities Play Key Role in the Growth of UAE Third-Party Logistics Market

According to the United Nations Commodity Trade Statistics Database (UN Comtrade), the United Arab Emirates (UAE) is one of the largest trading nations in the world. The country’s transportation sector plays a critical role in facilitating the import and export of goods.  In 2021, the UAE’s imports and exports volume were valued at around $365 billion and $303 billion respectively. The top import partners for the UAE were China, India, the United States, and Japan, while the top export partners were India, China, Switzerland, and Singapore.

In terms of transportation, the UAE has a well-developed infrastructure, including ports, airports, and road networks, which allows for the efficient movement of goods. Dubai and Jebel Ali are the main ports in the UAE, handling a large volume of trade. Dubai International Airport is the busiest airport in the world in terms of international passenger traffic, and it also plays an important role in cargo transportation.

UAE Third-Party Logistics Market to Witness Strong Growth Thanks to Favorable Government Policies and Efforts

The United Arab Emirates (UAE) government has implemented a number of policies aimed at promoting the growth of the third-party logistics market in the country. Some of these policies include:

  • Strategic Location: The UAE’s strategic location at the crossroads of Europe, Asia, and Africa has made it an important hub for trade and logistics in the region. The government has invested heavily in the development of ports, airports, and road networks to support the movement of goods.
  • Free Zones: The UAE has established a number of free zones, such as the Dubai Logistics City, which offer benefits such as 100% foreign ownership, 100% import and export tax exemptions, and no currency restrictions. These free zones have attracted many international logistics companies in the UAE third-party logistics market to set up operations in the country.
  • E-commerce: The government has implemented policies to support the growth of e-commerce in the country, which has increased the demand for 3PL services. For example, the government has established the Dubai E-Commerce Strategic Plan 2021, which aims to create a conducive environment for e-commerce businesses.
  • Technology and Automation: The government has been encouraging the use of technology and automation in logistics operations. This includes the development of smart ports and the implementation of digital platforms to improve supply chain efficiency.
  • Green logistics: Government has been encouraging and providing incentives for the use of green logistics solutions like electric vehicles, solar-powered warehouses, and energy-efficient equipment.

Overall, these policies have had a positive impact on the 3PL industry in the UAE. The country’s strategic location, advanced infrastructure, and supportive government policies have made it a popular destination for international businesses seeking to tap into the Middle East and North Africa (MENA) market. Additionally, the increased demand for UAE third-party logistics market due to the growth of e-commerce and the use of technology in logistics operations has led to the expansion of the industry in the country.

B2B Segment Generates Over 58% Revenue of UAE Third-Party Logistics Market

The UAE’s third-party logistics (3PL) industry is thriving and is expected to continue growing at a steady pace in the coming years. The Business-to-Business (B2B) segment, which includes services such as warehousing, transportation, and distribution, is a major contributor to this growth. In fact, this segment alone generates over 58% of the revenue for the industry.

The growth of B2B logistics services is driven by the increasing demand for cost-effective and efficient supply chain management solutions among manufacturers, wholesalers, and other businesses. The rise of e-commerce has also played a key role in this growth, as businesses seek to manage their online sales operations. The UAE’s strategic location, advanced infrastructure, and supportive government policies have made it a popular destination for international businesses looking to tap into the Middle East and North Africa (MENA) UAE third-party logistics market.

According to the World Bank, the UAE’s logistics performance index (LPI) is ranked 25th globally, showing a steady improvement over the years. This index measures the efficiency of the logistics chain and the ease of arranging competitively priced services. Furthermore, the country’s strong logistics performance is due to the well-developed transportation infrastructure and the supportive policies put in place to enhance the logistics sector.

Roadways Handles Over 45% of the UAE Third-Party Logistics Market

The UAE’s third-party logistics market is diverse and offers a wide range of services to businesses looking to streamline their supply chain operations. One of the most significant segments of this market is roadways, which holds a 45% share of the market.

The roadways segment is crucial for businesses operating in the UAE, as it enables the efficient movement of goods across the country. The UAE has a well-developed road network, with easy access to ports and airports, making it an ideal location for businesses looking to transport their goods locally and internationally.

The UAE government has also been investing in the development of road infrastructure to support the third-party logistics market. This includes the construction of new roads, bridges, and highways, and the upgrading of existing ones. This has made the UAE an attractive destination for businesses looking for cost-effective and efficient transportation solutions.

The Roadways segment is especially beneficial for businesses that operate across the country, as it provides a reliable and cost-effective way to move their goods from one location to another. Additionally, the use of advanced technologies, such as GPS tracking and electronic documentation, allows for real-time monitoring of shipments, which helps businesses to optimize their supply chain operations.

Navigating the Evolving Landscape of UAE Third-Party Logistics Market: Top Trends and Opportunities

As the UAE economy continues to thrive, the third-party logistics industry is experiencing significant growth. Businesses in the region are recognizing the value of outsourcing their logistics needs to specialized providers, known as 3PLs. These companies offer a range of services, from warehousing and transportation to customs clearance and final-mile delivery. Here are some key trends that are shaping the industry:

  • End-to-End Solutions: Companies are seeking comprehensive logistics solutions that streamline their supply chain and reduce the need to manage multiple providers. This trend is driving demand for 3PLs that can offer an end-to-end service, covering everything from order fulfillment to delivery.
  • Cost-Efficiency: In an increasingly competitive marketplace, businesses are looking to cut costs wherever possible. 3PLs that can offer cost-effective solutions, such as utilizing technology to optimize routes and improve decision-making, are in high demand in the UAE third-party logistics market.
  • Long-Term Contracts: As businesses gain confidence in the capabilities of 3PLs, they are increasingly opting for long-term contracts as opposed to project-based or short-term arrangements. This indicates a growing level of trust in the industry and its ability to deliver on its promises.
  • Improved Service Levels: As the third-party logistics industry continues to evolve, service levels are improving across the board. This is leading to greater satisfaction among customers and more opportunities for growth in the industry.

Some of the Top Market Players Are:

  • SAG logistic
  • DHL International GmbH
  • FedEx
  • RAK Logistics
  • Emirates Logistics LLC
  • Global Shipping & Logistics Company
  • Al-futtiam Logistics
  • Freightworks
  • Ceva Logistics
  • Mohebi Logistics
  • Consolidated Shipping Services group
  • KUEHNE+NAGEL INC.
  • Other Prominent Players

About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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Archives, Global Logistics, Global Trade Daily

Contract Logistics Market Worth USD 437.52 Billion by 2029 Market Dynamics, Trends and Competitive Landscape and Forecast 2029

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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 percent over the forecast period from 2022 to 2029, according to the “Contract Logistics Market” research released by Maximize Market Research.

Contract Logistics Market Scope and Research Methodology

The Contract Logistics Market research report new product launches and the expansion of already existing businesses are expected to benefit the key players in maintaining their dominance in the global market of Contract Logistics Market. Market segmentation analysis includes qualitative and quantitative research incorporating the impact of economic and policy aspects. The report covers regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market, competitive landscape involving the market share of major players, along with the new projects and strategies adopted by 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 usage of both primary and secondary data sources. The research process involves the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industries, and market risks, opportunities, market barriers, and challenges.

Contract Logistics Market Overview

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

The market is expected to increase as a result of the expanding e-commerce sector, rising food and beverage consumption, rising urbanization levels, rising consumer confidence index, and growing emphasis on environmentally friendly supply chains. However, the lack of trained workers in developing nations and the fierce rivalry will hinder the industry’s expansion. Increasing consolidation activities, technical improvements, widespread acceptance of the internet of things (iot), and the emergence of blockchain services are a few prominent themes.

Contract Logistics Market Dynamics

Software for logistics management that is cloud-integrated makes it possible to track, change, and monitor pricing and inventory in real-time. Cloud-based logistics software offers real-time accuracy and complete system and process management. It makes it possible to trace a single shipment at every point in its trip, reroute a missing consignment, and save a lot of money on lost items and late deliveries. Thanks to cloud-based logistics software, all players in a trade network may join and exchange data in real-time, make rapid decisions, and grow to meet the needs of the contract logistics market.

Systems for supply chains that are cloud-based SaaS offer a number of benefits. It provides a holistic perspective of all logistical activities by increasing transparency and teamwork. Putting in place a cloud infrastructure reduces both the upfront and recurring expenditures. Additionally, it increases the effectiveness of the supply chain in the contract logistics market and offers the potential to scale up to meet the needs of the company.

Contract Logistics Market Regional Insights

North America held a 56% share of the market in 2021. The North American region is expected to grow significantly throughout the forecast period. Increasing demand for e-commerce and same-day delivery is expected to drive the market in the North American region. North American companies are started participating in the market delivering services at various levels. Also, the growing adoption of more integrated services and data management for flexible solutions penetrates the market growth during the forecast period. While the US market is the largest and is progressively growing, Canada’s e-commerce sector is the one that is expanding the quickest in the region. The Mexican e-commerce market is expected to grow at a healthy clip over the next five years despite the country’s comparatively low user penetration of e-commerce. The majority of e-commerce businesses award contracts to logistics service providers for storage and distribution. Business models for high-velocity e-commerce demand the deployment of technology tools that speed up fulfillment processes.

Contract Logistics Market Segmentation

By Mode:

• Exhaust Gas Recirculation

• Turbocharger

• Organic Rankine Cycle

• Other

 

By Vehicle Type:

• Passenger cars

• Light commercial Vehicle

• Truck

• Buses

 

By Components:

• EGR Component

• Turbocharger Component

• Organic Ranking Cycle Component

• Thermoelectric Generator Component

Contract Logistics Market Key Competitors:

• Siemens AG

• Mitsubishi Heavy Industries, Ltd.

• General Electric

• ABB

• Boustead International Heaters

• Forbes Marshall

• Promec Engineering

• Terrapin

• Wood Plc (Amec Foster Wheeler)

• Climeon; BoschIndustriekessel GmbH

• AURA GmbH & Co.

• Exergy S.p.A.

• IHI Corporation.

 

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2022−2029

• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends

• Market Segmentation – A detailed analysis by Mode, Type of Vehicle, Component, and Region

• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading research firm, has also published the following reports:

Courier Services Market– Courier Services Market size was valued at USD 383.02 Bn. in 2021 and the total Grapheme Battery revenue is expected to grow by 5.8 % from 2022 to 2029, reaching nearly USD 601.32 Bn. increasing competitiveness and growing demand for e-commerce and customer expectation driving courier service market demand globally.

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

Automotive Glow Plug Market : Automotive Glow Plug Market was valued at US$ 2.9 Bn. in 2021 and the total revenue is expected to grow at 4.2% of CAGR through 2022 to 2029, reaching nearly US$ 4.03 Bn. Increasing use of light commercial vehicles, demand for commercial cars, and therefore glow plugs from OEM and aftermarket channels, has been steadily increasing in the region

Procurement-as-a-Service Market : Procurement-as-a-Service Market was valued at USD 3.20 Billion in 2021, and is expected to reach USD 5.30 Billion by 2029, exhibiting a CAGR of 6.5 % during the forecast period (2022-2029). Adoption of Cognitive Procurement Technologies drive the demand of market.

Blockchain-as-a-Service Market: Blockchain-as-a-Service Market was valued at US$ 829.2 Mn. in 2021 and the total revenue is expected to grow at 60.1% of CAGR through 2022 to 2029, reaching nearly US$ 35792.3 Mn.

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Archives, Global Logistics, Global Trade Daily

Mounting Signs of Economic Slowdown Affecting the Global Logistics Market

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According to the IMF, the global economy continues to face steep challenges. The anticipated 2023 slowdown will affect many economies, with countries accounting for one-third of the global economy poised to contract in 2023. The global logistics sector will not evade the downturn.

According to Bloomberg Intelligence’s 2023 outlook for North American truck and rail companies, boom times are coming to an end as cooling economic activity and demand are expected to dent growth in 2023. According to accountancy firm BDO this week, mergers and acquisitions in the UK logistics sector have declined for the third successive quarter amid fragile market conditions.

FedEx Freight confirmed last week that it is bringing in furloughs in some US markets. The move is due to ‘current business conditions impacting volumes’. Parent company FedEx has been cutting costs in anticipation of reduced demand for the next several quarters. FedEx reported that US deliveries were down by around 10% in the three months from June to August 2022 compared with a year earlier.

Also, this week, Amazon is reported to be planning the largest layoff in company history, cutting around 10,000 jobs. The job cuts will mostly be from its devices business, but the company is also planning major cuts to its retail division. Amazon has recently scaled back its logistics operations in recent months, delaying or closing more than 60 warehouses. This may have a knock-on effect on Amazon Freight, a third-party logistics operation that in the UK and Europe runs a network of 6,500 trailers and 13,000 carrier partners.

Shipping container platform Container xChange reported this week that recession and excess inventory has seen shipping prices fall and ports are now clogged with empty containers. The company blamed a decline in consumption at a time when retailers have an excess of inventory. Container freight volumes at the largest US ports were down 3.8% in September 2022 compared to the same month in 2021. The total volume of loaded containers handled by nine major ports amounted to 2.67m TEUs in September 2022, down from 2.77m in September 2021 and 2.85m in September 2020.

Global air freight traffic fell 10.6% year on year in September 2022, causing a corresponding reduction in freight rates. The September figures published by the International Air Transport Association (IATA) confirm that the slowdown in air freight activity is continuing. Global air freight volumes were down 10.6% on their September 2021 total at 20.33bn ton-kilometres overall and 10.6% down, too, in the purely international sector.

In October, DSV, a leading freight forwarder, reported a ‘reduced growth rate’ for its airfreight business in the third quarter as rates declined and consumer demand dropped amid economic uncertainty. Also in November, DPDHL reported that global demand for freight has started to slip and ‘there is no longer any doubt that the world economy is facing difficult times’. Freight volumes fell 12% in DHL Global Forwarding’s air freight business in the third quarter, while sea freight volumes were down 9%.

It is clear that we are entering a period of economic slowdown, with headcount and assets being trimmed to match demand. Those companies with flexible business models will no doubt fare better than most. How long the economic malaise will last remains to be seen.

Gebrüder Weiss has been present in Türkiye for ten years with locations in Istanbul and Izmir and, since 2021, in Mersin on the eastern
Archives, Global Logistics, Global Trade Daily, News

Gebrüder Weiss Focuses on Growth in Türkiye’s Logistics Market

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The international transport and logistics company Gebrüder Weiss is preparing for Türkiye’s growing appeal to European importers and exporters by making more specialists and transport connections available. The main focus is on transports between Türkiye and its key trading partner, Germany, as well as the Benelux countries. Early in December, as part of expanding its services, the logistics company fully integrated the recently-acquired freight forwarding company 3S Transport & Logistics into the Gebrüder Weiss Türkiye country organization.

Gebrüder Weiss has been present in Türkiye for ten years with locations in Istanbul and Izmir and, since 2021, in Mersin on the eastern Mediterranean. The main activities of the 70 employees include partial-load transports as well as air and sea freight services, pharmaceutical and multimodal transports as well as warehouse logistics and customs clearance. All three locations play a central part in an axis of GW branches stretching across Central and South-Eastern Europe to the Caucasus and Central Asia, where, along the New Silk Road, the logistics company is present with its own branches in Georgia, Armenia, Uzbekistan, Kazakhstan and China.

 About Gebrüder Weiss

Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,000 employees at 180 company-owned locations. In the last fiscal year (2021), it posted annual sales of 2.5 billion euros. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. www.gw-world.com

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Archives, Global Logistics, Global Trade Daily, Uncategorized

Logistics Markets may be Turning, Possibly Violently

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There are tentative signs that the intercontinental freight market is beginning to turn, possibly quite sharply.

The most recent evidence is from Cathay Pacific Cargo, which is reported to be briefing clients that this year’s peak season will not be as strong as usual. Admittedly this is heavily influenced by economic conditions in both China and Hong Kong, but it fits the mood music in much of the rest of the world.

Marine container freight spot rates on the trans-Pacific route have been falling for some time, although container shipping line results continue to reflect the strength of the contract-rate market segment. Crucially there are signs that congestion in container ports is improving rapidly. For example, at the once-troubled port of Los Angeles, the senior management claims that there has been a fall in the “backlog of ships almost 90%”. The port has again postponed the implementation of a ‘dwell fee’ on containers at terminals due to a “combined decline of 46% in ageing cargo on the docks”. The situation on East Coast container terminals appears to be improving similarly, and there are reports from European ports on the Hamburg-Le Havre range that congestion has also improved.

The potential of this decline in congestion to release shipping capacity onto the market is considerable, and it may already be playing a role in driving-down spot rates. If congestion continues to improve, it might dramatically affect rates, with the ‘blanking’ activity of container lines suggesting they are already aware of this.

As with the boom in demand seen in 2020-2021, much of the force behind these developments is associated with consumer behavior in the US. Admittedly the port of Los Angeles continues to see higher container through-put; however, shippers’ inventory management operations are more under control, enabling container, demurrage and warehousing systems to right themselves. As a result, major retailers have pursued significant inventory sell-offs and are cautious in their buying behavior, moving towards Christmas in the face of what looks like a recession. Obviously, this is informed both by energy price increases and higher inflation.

None of these factors on their own, either an operational improvement, muted US economic signals or continued instability in China, will drive falling rates, but they suggest a marked changed environment for logistics markets.

Download Ti’s Global Ocean Freight Rates Tracker for Q3 2022 for an in-depth look at the key data driving rate development in global ocean freight, covering major transpacific, transatlantic and Asia-Europe lanes.

There are expectations that the Asia Pacific’s market growth will be affected by both the Chinese and the South Korean market’s 2021-26 CAGR
3pls, Archives, Global Logistics, Global Trade Daily, News

E-commerce Logistics Market Grew by 19.9% in 2021, Says Ti’s Latest Report

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Transport Intelligence’s (Ti) latest report, Global e-commerce logistics 2022, shows that rapid growth in the market continues with growth of 19.9% in 2021, though growth has slowed from 2020’s Covid-19 induced peak.

  • The global e-commerce logistics market grew by 19.9% in to reach a value €441.47bn in 2021.
  • Global e-commerce logistics market to grow at a CAGR of 11.8% from 2021-2026
  • Cross-border e-commerce market forecasted to grow at a CAGR of 10.65% to 2026
  • Global e-fulfilment market made up 46.8% of the total for e-commerce logistics, with last mile making up the remaining 53.2% in 2021
  • E-fulfilment service providers have broadened their service offerings to capture more of the e-commerce value chain

Ti’s latest data shows that, regionally, in 2021 Asia Pacific is still the biggest e-commerce logistics market, followed by North America and Europe. However, in 2026, Ti forecasts that North America will be the biggest e-commerce logistics market, with the US, Canada and Mexico all experiencing nominal 2021-26 CAGR above the global average.

There are expectations that the Asia Pacific’s market growth will be affected by both the Chinese and the South Korean market’s 2021-26 CAGR slowing down below not only the global average but the regional average of 7.1% too. Their percentage of online retail sales as a percentage of total sales, at 28.0% and 24.5% respectively, are testimony of mature markets. In addition, the parcel pricing war we’ve seen in China has hampered overall growth. However, the two countries will remain amongst the biggest e-commerce logistics markets globally on the back of a high number of e-shoppers.

A similar situation is likely to happen with the UK’s e-commerce market, with online sales as a percentage of total retail sales standing at 26.6% as of December 2021 as reported by the UK Office of National Statistics. The UK’s e-commerce logistics market is also expected to be affected by Brexit too over the next five years, but it will maintain its place as the third e-commerce logistics market globally after the United States and China.

Ti’s new research also shows for the first time the growth of the developing cross-border e-commerce logistics market, which is forecast to grow at a CAGR of 10.65% from 2021-2026. This growth is expected to continue as consumers seek luxury goods that may not be available within their own countries. However headwinds remain, particularly in terms of compliance with tax and customs regimes surrounding cross-border movements.

The new report also highlights how the e-commerce logistics market is broken down between e-fulfilment and last mile delivery services. In 2021 the global e-fulfilment market was valued at €235.42bn and represented a total of 46.8% of the market. Whereas the larger last mile market had a total value of €253.10bn and constituted the other 53.2% of the market.

Ti’s latest report also drills down further in to the e-fulfilment market, highlighting the structural changes which have taken hold since the beginning of the pandemic. Showing how fulfilment service providers from LSPs to software providers have broadened their service offering to capture more of the e-commerce value chain.

Ti’s Head of Commercial Development, Michael Clover, said: “In 2021 e-commerce has been one of the key growth sectors for logistics and we’ve seen some spectacular revenue growth from individual service providers. Overall growth has slowed since 2020, with growth levelling off as the extraordinary conditions for e-commerce growth brought about by the pandemic unwind, but growth is still above pre-pandemic levels. The forecast out to 2026 portrays a maturing market where online retail penetration levels are sustained in the most mature markets between 25-30% and other markets move up to this level.”