Transport and Logistics Market is projected to grow at a CAGR of 6.2% during forecast 2023

Summary

Transport and Logistics Market Size, 7.2% CAGR, Research Report, Statistics and Industry Forecast by 2023 | Global Logistics Market Information Report: By Transportation Type (Airways, Waterways, Railways, Roadways), Logistic Type (First Party, Second Party, Third Party) End User (Industrial and Manufacturing, Retail, Healthcare, Oil & Gas) - Forecast 2023

Synopsis

As per the research by Market Research Future Reports (MRFR), the global logistics market 2020 is majorly driven by the advancement and development of international trade flow. The Global Logistics Market is estimated to expand at a CAGR of 7.2% during the review period. The expansion in worldwide trade has augmented the market size.

However, Due to the sudden outbreak of novel coronavirus, there has been an immense change in the market dynamics. Several regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.

Key Players

The forefront players of the global logistics market are GEODIS (France), Ceva Holdings LLC (U.K.), C.H. Robinson Worldwide, Inc. (U.S.), FedEx Corp. (U.S.), Expeditors International of Washington, Inc. (U.S.), XPO Logistics Inc. (U.S.).

Market Segmentation

The global Transport and Logistics Market can be classified based on logistic type, end-user industry, transportation type, and region.

Based on logistic type, the global logistics market can be segregated into the first party, the second party, and a third party.

Based on the end-user industry, the global logistics market can be segregated into oil & gas, retail, industrial and manufacturing, healthcare, and others. The Manufacturing segment accounted for the largest market share.

Based on transportation type, the global logistics market can be segregated into railways, waterways, airways, and roadways.

Based on the region, the global Transport and Logistics Market can be segregated into North America, Europe, Asia Pacific, and Rest of the World (RoW).

Regional Analysis

Moreover, the economic growth and rapid urbanization in the region is leading to additional growth of the market. The second position is attained by North America. It is a lucrative market for the expansion of the market. The rising demand for foreign commodities from countries like India, Thailand, and Indonesia has made a robust relationship with the U.S. The third position is attained by Europe. Europe plays a vital role in expanding the market. Germany, France, and the U.K are the most important markets in the region.

However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.

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