Third Party Logistics Market Analysis 2018-2025: DHL Group, Kuehne + Nagel International AG, Nippon Express Co., Ltd., DB Schenker, C.H. Robinson, DSV, XPO Logistics, Sinotrans, GEODIS, and UPS Supply Chain Solutions

Global third party logistics market is expected to grow from US$ 805.4 billion in 2017 to US$ 1,240.0 billion by 2025 growing at a CAGR of 13.5% from 2018 to 2025.

The third party logistics market (3PL) is at its growing phase in different regions owing to the increase in international exports/imports and growth in E-commerce in numerous business segment. The market is further expected to flourish in North America and Middle East owing to service integration, data management, expansion of service offerings, and inclination towards offering more flexible solutions to customers.

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The major factors propelling the market growth for third party logistics are rise in focus of manufacturing companies on reducing assets and emphasize on core business, benefits in managing seasonal variations of products, and increase in demand for reducing overall operational cost and focus on managing timely delivery.

Increase in demand for minimizing overall operational cost and manufacturer's focus on timely delivery of products are projected to escalate the market growth at a CAGR of 5.6%.

Asia-Pacific is the dominant region in the third party logistics market and this region is expected to continue its lead during the forecast period. Where, China dominated the demand for third party logistics services with the increase in business expansion. Asia-Pacific is contributing to the highest revenue globally due to robust economic growth along with growing retail enactment owing to the rising disposable income in this region. Further, fast growth in e-commerce sector and rise in foreign direct investment are boosting the market for third party logistics in this region. North America is expected to be the fastest growing region in third party logistics market owing to the service integration, data management, expansion of service offerings, and inclination towards offering more flexible solutions to customers.

The major players operating in the third party logistics market are Deutsche Post DHL Group, Kuehne + Nagel International AG, Nippon Express Co., Ltd., DB Schenker, C.H. Robinson, DSV, XPO Logistics, Sinotrans, GEODIS, and UPS Supply Chain Solutions.

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