3PL Market Size & Share | By Top Leading Companies Such as DHL, United Parcel Service, FedEx Corporation, Maersk Logistics, DB Schenker, Kuehne+Nagel Inc. NYK logistics.
At present, Asia-Pacific dominates the market, followed by North America, Europe, and LAMEA. China dominated the global 3PL market in 2017, while Mexico is expected to grow at a significant growth rate in North America during the forecast period.
Factors such as increase in trading activities due to globalization and increase in focus of manufacturers and retailers on core competencies fuel the growth of the 3PL market. In addition, development of the e-commerce industry and increase in reverse logistics operations boost the market growth. However, risk to goodwill of manufacturers hinders the growth of the 3PL market. In addition, reduction in control of manufacturers on logistics service restricts the growth of the market. On the contrary, use of IT solutions & software, cost cutting, and lead time reduction due to adoption of multi-modal system are anticipated to provide growth opportunities for the 3PL market.
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In 2017, by mode of transport, the roadways segment dominated the global 3PL market in terms of revenue. Furthermore, based on service type, domestic transportation management is majorly adopted, and is expected to maintain its lead throughout the forecast period. Presently, Asia-Pacific dominates the market, owing to increase in trading activities due to globalization, and is expected to maintain the major market chunk throughout the forecast period.
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The key players analyzed in this report are DHL, United Parcel Service, FedEx Corporation, Maersk Logistics, DB Schenker, Kuehne+Nagel Inc., NYK logistics, Panalpina World Transport Ltd., Union Pacific Corporation, and BNSF Railway Company.
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