Global Third Party Logistics Services Market: Introduction
Globalization, free trade and opening up of the markets for foreign multinational companies is a recent trade which is influencing the major trend of elongating supply chains and industrialization. Rising cross border trade is the result of increasing collaboration between logistics service providers, government bodies and leverage of technology. Growing worldwide demand for logistics services has led the third party logistics (3PL) market to grow rapidly in the last decade. But, as the time went, increase in third party logistics (3PL) players is resulted into fierce competition between 3PL market players. Today, third party logistics (3PL) players have few customers and at the same time they are dealing with the risk of increased prices. Emerging economies like South Africa, India, Nigeria, China, Brazil and Argentina are the sweet spots for the investments in third party logistics services. The investments have grown more than two fold in these emerging markets. Third party logistics (3PL) service providers are increasingly adopting advanced technologies based on Internet of Things (IoT), cloud storage, data analytics, forecasting, real time product tracking etc. Massive public and private infrastructure developments related to transportation, agriculture, and defence sectors are bringing the traction in third party logistics (3PL) services market. Recent trend in third party logistics (3PL) services market shows, the complete outsourcing of supply chain activities to third party logistics (3PL) players, increased transparency and customer-client engagement etc. This has led to the third party logistics (3PL) players handling complete activities of packaging, raw material procurement, transportation, inventory management, warehousing, distribution etc. Rising e-Commerce distribution has also influenced the growth of 3PL services market.
Global Third Party Logistics Services: Market Dynamics
Third party logistics (3PL) helps manufacturers to focus on their core business by providing complete or partial supply chain services like packaging, warehousing, procurement and distribution. There are two kinds of third party logistics (3PL) service providers. One who owns the assets like warehouses, trucks etc. and other just uses the rented assets. Then there are 4PLs, who are consultants and complete supply chain intelligence providers and there are 5PLs, who help in efficient resource utilization. 5PLs aggregate the demand of many third party logistics (3PL) service providers and then they hire the cargo planes, ships, warehouses and other transportation services etc. Growing demand for cold chain services from pharmaceuticals and food & beverages sectors is driving the third party logistics (3PL) services market. Growing regulatory environment and government policies related to distribution of pharmaceuticals and food & beverages is driving the global third party logistics (3PL) services market. Growing industrialization and trend of countries striving to become self-reliant and free from imports is pushing the demand for third party logistics (3PL) services market. Procurement of raw materials like polymers, pulp & paper, metals and distribution of finished products like automobiles, packaging products, FMCG goods etc. at right times is a challenging task for third party logistics (3PL) service providers. Lack of labour force is restraining the growth of third party logistics (3PL) services market.
Global Third Party Logistics Services: Market Segmentation
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The third party logistics service market is segmented on the basis of service type, asset ownership, contract and end-use industry.
On the basis of service type, the global third party logistics service market is segmented into: Warehousing Transportation Packaging Procurement Distribution Inventory Management Others
Based on the asset ownership, global third party logistics service market is segmented into: Asset Based 3PL Non-Asset Based 3PL
Based on the asset contract type, the global third party logistics service market is segmented into: Public Private
Based on the end-use industry, global third party logistics service market is segmented into: Food & Beverages Pharmaceuticals Chemicals Automotive & Aerospace Electronics Goods Others
Global Third Party Logistics Services Market: Regional outlook
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Third party logistics service market has been segmented on the basis of region into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA), and Japan. Asia Pacific Excluding Japan (APEJ) is expected to dominate the overall global third party logistics service market, followed by Western Europe. This is due to massive infrastructure development projects happening in China, India and other countries in APEJ region.
Global Third Party Logistics Services Market: Key players
Some of the players associated with the global third party logistics service market are Yusen Logistics Co., Ltd., DHL Supply Chain & Global Forwarding, Sinotrans Limited, CEVA Logistics, Nippon Express Co., Ltd., DB Schenker Logistics, Kuehne + Nagel International AG, Ryder, Menlo Logistics, C.H. Robinson, Exel (tie) Schneider Logistics, Penske, APL Logistics, Danzas AEI (tie) Hub Group, TNT Logistics (tie) USCO Logistics, EGL Eagle Global Logistics and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on: Market Segments Market Dynamics Market Size Supply & Demand Current Trends/Issues/Challenges Competition & Companies involved Technology Value Chain
Regional analysis includes: North America (U.S., Canada) Latin America (Mexico. Brazil) Western Europe (Germany, Italy, France, U.K, Spain) Eastern Europe (Poland, Russia) Asia Pacific (China, India, ASEAN, Australia & New Zealand) Japan Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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