Third Party Logistics (3PL) Market Key Business Organization Participants are C.H. Robinson, CEVA Logistics, DB Schenker, DHL Supply Chain, FedEx, GEODIS, J.B. Hunt Transport, Kuehne + Nagel, Panalpina, Schneider, Total Quality Logistics, UPS Supply Chain

The 3PL market is forecast to grow at a significant rate owing to the increasing focus of manufacturers on their core businesses and sub-contracting the activities, where they have less expertise. The growth in the e-commerce industry is expected to drive the 3PL market due to an increase in demand for fast delivery, efficient inventory management, freight forwarding, and individualized shipping time. The players in the e-commerce sector are focused on selling goods online, thus necessitating the need for 3PL market providers.

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Third Party Logistics (3PL) Market size is set to exceed USD 1,100 billion by 2024. Increasing globalization is encouraging companies across several industry verticals including e-commerce, food & beverage, durable manufacturing, and general merchandising to expand their geographical presence to meet the global demand. This is expected to positively impact the International Transportation Management (ITM) segment demand. 3PL market vendors are focusing on providing international freight management and customs brokerage with their extensive knowledge of import-export processes and international regulations.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Americold Logistics, LLC.
2. BDP International
3. C.H. Robinson
4. CEVA Logistics
5. DB Schenker
6. DHL Supply Chain
7. UTi Worldwide (DSV A/S)
8. FedEx
9. GEODIS
10. J.B. Hunt Transport, Inc.
11. Kintetsu World Express
12. Kuehne + Nagel
13. Landstar
14. Nippon Express
15. Panalpina
16. Ryder Supply Chain Solutions
17. Schneider
18. Total Quality Logistics
19. Unyson
20. UPS Supply Chain Solutions
21. XPO Logistics, Inc.

Rail & road mode is expected to experience a high demand owing to the increasing domestic transportation requirements. The launch of rail freight services between Beijing and London across Asia and Europe is expected to surge the trade through the rail mode. This has enabled manufacturers to explore newer transportation options at low costs. This silk route unlocks options for shippers to reduce the transportation time.

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The U.S. third party logistics market is characterized by the demand for low-cost services and outsourcing the services to third parties to primarily focus on the core competencies. The demand for efficient inventory management and rapid deliveries will surge the growth in the region. The U.S. will contribute toward the growth of the air freight owing to strong trade relations with other countries. The movement of sensitive goods, such as hazardous materials, time-dependent shipments, and delicate items from the U.S., requires the usage of air transportation, which is much faster and safer via sea or land.

The Asia Pacific 3PL market is predicted to have a significant industry share contributing to over 30% of the total revenue in 2016. The growth in the region is propelled by the improving economic conditions, Internet penetration, and the rising number manufacturing firms. These factors provide lucrative growth opportunities to the industry for effective warehousing and distribution services. In addition, the rising free trade agreements between different countries in the region offer a wide potential for growth.

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For instance, in 2016, C.H. Robinson acquired APC Logistics as an expansion strategy. The companies are increasing their capabilities to expand the service portfolio. In 2017, AmeriCold Logistics LLC announced the purchase of several cold storage facilities across the U.S. to increase the capacity of their temperature-controlled services. The companies are actively involved in the purchase of offices overseas, particularly in Latin America and Africa, to meet the international transportation demand.

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