The global logistics market size is calculated at USD 9.97 trillion in 2024 and is expected to be worth around USD 21.91 trillion by 2033, registering a solid CAGR of 9.35% from 2024 to 2033.
The global logistics market size is predicted to increase from USD 8.96 trillion in 2023 to approximately USD 21.91 trillion by 2033, According to Precedence Research. The logistics market is driven by increasing demand for e-commerce, changing consumer preferences, and evolving novel technologies.
The logistics market encompasses the global industry involved in the planning, implementation, and control of the movement and storage of goods, services, and information within the supply chain, from the point of origin to the point of consumption. Logistics management is a critical component of a company’s supply chain, which includes shipping, packaging, inventory management and product storage.
The efficiency of logistics operations is intimately related to customers' experience, with inventory management playing a critical role. The ‘Seven Rs’ of logistics management are: deliver the right product, at the right time, to the right place, at the right quantity, to the right customer, in the right condition and at the right cost.
Logistics Market Revenue (US$ Billion), By Transportation Type, 2020-2023
| Transportation Type | 2020 | 2021 | 2022 | 2023 |
| Airways | 390.66 | 410.38 | 428.41 | 485.38 |
| Waterways | 2,311.03 | 2,422.81 | 2,524.17 | 2,853.85 |
| Railways | 1,721.34 | 1,796.11 | 1,862.44 | 2,095.78 |
| Roadways | 2,988.73 | 3,086.94 | 3,168.25 | 3,528.38 |
Logistics Market Revenue (US$ Billion), By End User, 2020-2023
| End User | 2020 | 2021 | 2022 | 2023 |
| Industrial & Manufacturing | 2,418.05 | 2,500.89 | 2,570.59 | 2,867.46 |
| Retail & E-Commerce | 1,349.62 | 1,398.06 | 1,439.24 | 1,607.90 |
| Healthcare | 799.32 | 850.60 | 899.54 | 1,032.35 |
| Oil & Gas | 544.54 | 573.43 | 600.09 | 681.54 |
| Others | 2,300.24 | 2,393.25 | 2,473.81 | 2,774.13 |
Logistics Market Revenue (US$ Billion), By Region, 2020-2023
| By Region | 2020 | 2021 | 2022 | 2023 |
| Asia Pacific | 3,145.16 | 3,319.43 | 3,480.71 | 3,952.34 |
| Europe | 1,636.81 | 1,697.05 | 1,748.34 | 1,955.51 |
| Latin America | 320.53 | 324.91 | 327.31 | 359.23 |
| Middle East & Africa | 440.22 | 448.98 | 455.05 | 502.60 |
| North America | 1,869.04 | 1,925.86 | 1,971.87 | 2,193.70 |
Logistics Market Key Insights:
Asia Pacific Logistics Market Size and Forecast 2024 to 2033
The Asia Pacific logistics market size accounted for USD 4.44 trillion in 2024 and is expected to expand to around USD 10.67 trillion by 2033, growing at a double-digit CAGR of 10.45% from 2024 to 2033.
Asia-Pacific dominated the logistics market in 2023. The Asia Pacific Logistics industry is expanding due to the increased use of blockchain technology in logistics. Block chain technology, which incorporates encrypted data and a pointer to prior blocks, enhances privacy and security in the logistics sector. Vendors are working with technology suppliers to develop platforms that improve productivity and visibility in the trucking business. The implementation of block chain technology is helping to boost the region’s transportation and logistics sector.
Europe held the second-largest share of the logistics market in 2023. The European e-commerce sector is driving market growth, thanks to growing demand for logistics and supply chain management systems. Businesses are prioritizing core capabilities, increasing their dependence on third-party logistics providers (3PLs) to ensure effective operations. This growing reliance on logistics services is propelling market expansion and emphasizing their important role in achieving corporate requirements.
Logistics Industry Coverage:
| Report Attribute | Key Statistics |
| Market Size by 2033 | USD 21.91 Trillion |
| Market Size in 2024 | USD 9.97 Trillion |
| Market Size in 2023 | USD 8.96 Trillion |
| Growth Rate from 2024 to 2033 | CAGR of 9.35% |
| Base Year | 2023 |
| Historical Year | 2021-2022 |
| Forecast Year | 2024-2033 |
| Segments Covered | Transportation Type, Logistics Type, End User and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Logistics Market Segments Outlook:
Transportation Type Outlook
The roadways segment dominated the logistics market in 2023. Road transport offers numerous advantages over other modes of transportation, including lower capital investment, flexibility in rural areas, door-to-door services, and flexible services. It is suitable for short distances, reducing intermediate handling and feeder connectivity costs. Road transport also reduces the risk of damage in transit, making it ideal for transporting fragile goods.
Packaging costs are lower in road transport due to less complicated processes. Road transport is also faster and more cost-effective than other modes, with less capital investment and operation and maintenance costs. Road transport serves as a feeder to other modes of transport, providing doorstep services for goods transported via air, water and rail.
The waterway segment is expected to grow at the fastest rate during the forecast period. Water transportation has various benefits, including enormous storage capacity, environmental friendliness, safety owing to durability and reliability, and cost-effectiveness. Rivers are self-contained highways that do not require construction or maintenance, making them cost-effective for a variety of applications.
Water transport is also the cheapest mode of transportation for goods between sites, with low operational expenses. Bigger boats use less gasoline since their costs are spread out across a bigger volume. Furthermore, water transport enables the cost-effective delivery of huge and heavy products. Water transportation generally has a smaller carbon emission making it suitable for transportation.
Logistics Type Outlook
The third-party segment dominated the logistics market in 2023 and is expected to grow at its fastest rate during the forecast period. A third-party logistics provider (3PL) provides organizations with outsourced logistics services such as shipping, warehousing, and order fulfillment.
Cost reductions may be realized by using the 3PL’s network, economies of scale, technology, allowing enterprises to concentrate on their core capabilities. Faster deliveries are becoming the standard in the e-commerce market, with 3PLs specialized in shipping and managing several warehouses. Scalability and flexibility enable firms to respond swiftly to shifts in demand and market conditions. End-to-end warehouse management eases inventory management.
End-User Outlook
The industrial and manufacturing segment dominated the logistics market in 2023. Logistics and manufacturing are interrelated and have a substantial impact on one another. Efficient logistics management includes strategic raw material purchase, freight transportation, storage, manufacturing, dispatch, and information flow. It maintains long-term profit levels and cost-effective order fulfillment by planning and carrying out standard operations, sustaining production and information flows, and meeting customer needs.
The health care segment is expected to grow at the fastest rate during the forecast period. Efficient heath logistics are essential for providing timely and effective healthcare services to patients. It guarantees that the appropriate equipment, medical supplies, and resources are available at the appropriate moment, so decreasing treatment delays, increasing patient outcomes, and maximizing resource use. Key benefits include lower inventory costs, faster supply delivery, simpler operations, improved emergency response capabilities, and optimized transportation routes. Focusing on effective health logistics enhances the efficiency and quality of services provided by healthcare organizations.
Source: https://www.globenewswire.com/news-release/2024/07/31/2922020/0/en/Logistics-Market-Size-to-Worth-USD-21-91-Trillion-by-2033.html
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The supply chain resilience pact signed by the UK, US and Australia is aimed at addressing risks and strengthening cooperation between the superpowers
The air cargo industry is flying headlong into its strongest ever peak season as booming e-commerce demand will combine with online shopping promotions this fall
Worldwide average air cargo spot rates rose to a new 2024 high in the first full week of September, boosted by a surge in tonnages and spot rates from Asia Pacific origins
Worldwide air cargo demand and pricing have stayed strong throughout August, with tonnages up +10%, year on year (YoY), and rates +12% above last year’s levels
As the industry heads into the peak season for airfreight, cargo owners are facing challenges to securing capacity out of Asia.
The US logistics manager's index was 56.4 in August, down slightly from July's 56.5. The overall index has increased for nine months in a row.
Air cargo spot rates were sky high in August as demand and capacity imbalances continued, flanked by additional e-commerce and Red Sea shipping disruption-related demand.
China is bracing for the arrival of ‘Super Typhoon’ Yagi, expected to be the strongest storm to hit the country in nearly a decade.
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