DUBLIN--(BUSINESS WIRE)--The "Global Contract Logistics Industry 2023" report has been added to ResearchAndMarkets.com's offering.
The global contract logistics industry demonstrated remarkable resilience in 2021, rebounding with an impressive 8.7% year-on-year growth after facing a 3.3% contraction in 2020 due to pandemic-induced challenges. The sector's swift recovery can be attributed to pent-up demand, savings growth, and the surge in global trade and manufacturing activities. Additionally, the e-commerce vertical emerged as a key driver, as the COVID-19 pandemic accelerated digital transformation and internet penetration.
However, the upcoming years bring new challenges, such as inflation, heightened competition, and warehousing space constraints, shaping a more challenging environment for contract logistics providers. The latest report "Global Contract Logistics Industry 2023," offers deep insights into market trends and forecasts, providing essential guidance to navigate the industry's ever-changing dynamics.
The report unveils that the global contract logistics industry witnessed a modest 2.9% year-on-year growth in 2022. However, brighter prospects await in 2023, with an expected quicker pace of growth at 3.8% year-on-year. Asia Pacific emerges as a frontrunner, driving growth with a projected 7.8% expansion, making it a key market for businesses to target. The report also delves into the challenges currently faced by the industry, with 90% of survey respondents experiencing increased margin pressure, primarily driven by rising costs.
Warehousing space constraints and mounting competition pose significant hurdles for contract logistics providers. Nevertheless, the sector is swiftly adapting to the shifting landscape by embracing advanced technologies such as warehouse robotics to optimize operations and enhance customer experiences.
The report offers comprehensive competitive analysis, shedding light on the top players in the market. DHL Supply Chain continues to lead as the global market leader in contract logistics, while other key companies like GXO, Ryder, Kuehne + Nagel, and UPS remain formidable contenders.
As sustainability becomes an increasingly important aspect of logistics operations, the report also highlights the sustainability efforts adopted by leading industry players to align with environmental goals.
Companies Profiled
- GXO
- Ryder
- Kuehne + Nagel
- UPS
- DSV
- Geodis
- DHL
- Nippon Express
- Logisteed
- LX Pantos
- Rhenus
- Ceva
For more information about this report visit https://www.researchandmarkets.com/r/ums400
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