Nigeria Freight and Logistics Market 2021-2026 skyrocketed revenue with key players DHL, ABC Transport, UPS (United Postal Services), BHN Logistics, Maersk Line, Redstar Logistics, TSL Logistics

Latest research on Nigeria Freight and Logistics Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Nigeria Freight and Logistics market. This report included a special section on the Impact of COVID19. Also, Nigeria Freight and Logistics Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Nigeria Freight and Logistics industry.

Nigeria Freight and Logistics market is growing at a CAGR of 4% during the forecast period (2021-2026).

The Nigeria Freight and Logistics market is highly competitive and consists of a number of major players. Top Companies like DHL, ABC Transport, UPS (United Postal Services), BHN Logistics, Maersk Line, Redstar Logistics, TSL Logistics, MSC (Mediterranean Shipping Company), Nipost (Nigerian Postal Service), Bollore Transport and Logistics, GMT Logistics, MDS logistics, GIG logistics*

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Scope of the Report

he current growth in Nigeria logistics Market has been due to the Infrastructural developments in Railways and Airways, improvement in foreign ties with other countries, developing manufacturing and export sector and the rising e-commerce sector.

Key Market Trends

Growing E-commerce sector to boost the Nigerian Logistics Market

The E-Commerce market has developed quite late in the African continent as compared to the US and China. In the last decade online grocery shopping has become a thing and has changed the way Nigerians shop. All kinds of items are now available online such as books, food, toiletries, clothes, electronics, furniture etc. In 2019, the revenue of the Nigerian E-Commerce market amounted to US$ 4,885.7 million. The revenue is expected to grow at a CAGR of 20.5% in the period of 2019-2023, resulting in a market volume of around US$ 10,290.6 million by 2023. In 2019, the market's largest segment was Fashion with a market volume of US$ 1,761.9 million and User penetration was 52.2% and is expected to reach 75.2% by 2023. With the ease of payments through mobile money and debit cards, increasing internet penetration is expected to help this sector to grow further in Nigeria and also give a boost to the logistics and freight market.

Development of Manufacturing and Export Sector in Nigeria

The Nigerian government has prohibited the imports of 41 products due to recession in 2016-17 and has been focusing on building manufacturing and industrial units thereby increasing logistics demand. The project MINE is an initiative by the Nigerian president to develop special economic zones and promote the goods that are made in the country. The first round of funding will concentrate on developing Funtua Cotton Cluster, Enyimba Economic City and Lekki-Epe Model Industrial Park in Katsina, Abia and Lagos State respectively. This will increase the domestic demand as well as exports in the market giving a boost to the warehousing sector. Currently most warehouses are in and around Lagos State due to the presence of industrial parks and proximity to seaports and airports in the country. With the developing manufacturing industry and increasing demands for logistics, some companies have entered the market recently like Dangote, Vicampro Farm, BlackPace and Kiremko, as a result the costs incurred by the logistics market has started increasing since 2017.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Nigeria Freight and Logistics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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