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COVID-19 Impact on Logistics & Supply Chain Industry Insights

05-22-2020 08:37 AM CET | Logistics & Transport

Press release from: MarketsandMarkets

COVID-19 Impact on Logistics & Supply Chain Industry Insights

Post COVID-19, the global Logistics & Supply Chain Industry size is projected to grow from USD 2,734 billion in 2020 to USD 3,215 billion by 2021, at a Y-O-Y of 17.6%.

The major drivers for the market high emphasis on the supply of essential commodities, creation of supply chain stabilization task force to fight COVID-19, and increasing demand and distribution of personal protective equipment.

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The logistics market is dominated by global players and comprises several regional players. Some of the key players in the logistics and supply chain industry are DHL (Germany), UPS (US), FedEx (US), Kuehne+Nagel (Switzerland), CEVA Logistics (Switzerland), DB Schenker (Germany), SNCF (France), XPO Logistics (US), Kenco Group (US), and Hitachi Transport System (Japan).

FMCG and healthcare industries to remain the largest in the logistics market.

Countries have exempted the manufacturing services regarding medical machinery and their supplies. The manufacturing of ventilators has increased as the number of COVID-19 positive cases continues to grow. For example, on April 14, 2020, Royal Philips planned to increase its hospital ventilator production to 4,000 units/week by Q3 2020 and introduced its new Philips Respironics E30 ventilator with immediate production of 15,000 units/week. Furthermore, the production and distribution of masks, gloves, medicines like HCQ has increased. The supply of essentials and the manufacturing of medical equipment is expected to drive the pharmaceutical and healthcare industry, and this will further boost the growth for the logistics and supply chain industry.

FMCG is one of the industries facing significant logistics challenges. Countries having a huge consumer base are facing major challenges when it comes to ensuring the continued supply of essential commodities. With limited availability of fast-moving consumer goods, consumers are experiencing a change in their lifestyle as they are receiving fewer products because of COVID-19 impact on the logistics and supply chain industry. However, FMCG companies are continuously tracking the current situation and are coming up with new strategies to contain the pandemic. The agriculture sector has been exempted from the restrictions laid by the countries. This has ensured sufficient supplies of food and other daily needs products. E-groceries continue to meet the increasing demand for daily supplies by the consumers. Amid the COVID-19 pandemic, Walmart Grocery application hit all-time high downloads in the US.

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The Asia Pacific to have the largest logistics market size during the forecast period

The Asia Pacific is expected to have the largest market sizing as the region has taken stringent measures to contain the virus. China has started to recover from the COVID-19 pandemic faster than any other country. Only some provinces of the entire country are in lockdown after the second wave of COVID-19. The World Health Organization has also appreciated India's control over the spread of the pandemic. This has allowed the logistics and supply chain companies to meet consumer demands during the pandemic situation. The supply of vital products in Singapore, South Korea, and Japan has also regained normalcy. Thus, the Asia Pacific region is expected to show positive signs in the near future as the supply chain industry recovers gradually.

Key Questions Addressed by the Report:

o What is the impact of COVID-19 on the logistics and supply chain industry?
o What would be the impact of COVID-19 on the logistics industry by 2021?
o What are the business opportunities for global logistics companies?
o Which players of the logistics and supply chain ecosystem would get impacted? (Positive/Negative)
o Who are the major competitors in the logistics market, and what are their growth strategies?

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/covid-19-impact-on-logistics-supply-chain-industry-market-244593137.html

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About MarketsandMarkets(TM)

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

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