Press release
Green Logistics Market to Reach $1744.57B by 2028, Fueled by Technological Advancements
Green Logistics Market Report
The green logistics market size is expected to see strong growth in the next few years. It will grow to $1744.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to government policies and regulations, technological advancements in green transportation, increasing consumer awareness and demand, corporate sustainability commitments, rising fuel prices and carbon taxes. Major trends in the forecast period include integration of artificial intelligence and machine learning, expansion of electric and alternative fuel vehicles, adoption of blockchain technology for transparency, development of circular economy practices, emphasis on collaboration and partnerships.
Market Overview -
Green logistics refers to the implementation of sustainable practices in logistics operations to reduce the environmental impact. It involves optimizing storage space, reducing transport operations, using eco-friendly packaging, and considering the entire supply chain's environmental footprint. Green logistics aims to balance economic efficiency with environmental sustainability by measuring and minimizing the ecological impact of logistics activities.
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Surge In Electric Vehicle Adoption Propels Growth Of Green Logistics Market
The rise in the adoption of EVs is expected to propel the growth of the green logistics market going forward. An electric vehicle (EV) is a mode of transportation powered by electricity stored in rechargeable batteries or other energy storage devices. The adoption of electric vehicles is driven by increasing environmental awareness, government incentives, advancements in battery technology, and a growing demand for sustainable transportation solutions. Electric vehicles significantly contribute to green initiatives by reducing carbon emissions, improving energy efficiency, and aligning with sustainability goals. For instance, in April 2023, according to the International Energy Agency, a France-based intergovernmental organization, the worldwide sales of EV trucks in 2021 was 41000, which increased to 59500, including plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). Therefore, the rise in the adoption of EVs is driving the growth of the green logistics market.
Competitive Landscape -
Major companies operating in the green logistics market are Deutsche Post AG, United Parcel Service of America Inc., CEVA Logistics , Fujitsu Limited, FedEx Corporation, Bollore Logistics, GEODIS Yusen Logistics, XPO Logistics, YUSEN LOGISTICS CO. LTD., Agility Public Warehousing KSCP, Mahindra Logistics Ltd., KLG Europe, 20 cube Logistics Pte Ltd., Transervice Logistics Inc., DSV A/S, AI Futtaim Logistics, Hupac Group, Express Freight Management, Go Green Logistics, Peter Green Chilled, The Green Group, Westerman MultiModal Logistics, EcoTransIT World, Clean Cargo Working Group, Green Mountain Energy Company
Innovative AI Solutions Revolutionize Green Logistics Efficiency
Major companies operating in the green logistics market are focused on innovative, rapid technological advancements such as AI-powered carbon emission trackers to help companies meet their supply chain sustainability goals. AI-powered carbon emissions refer to the environmental impact of artificial intelligence technologies on carbon emissions and energy consumption. For instance, in October 2022, DispatchTrack Software Pvt. Ltd., a US-based web-based delivery and logistics management platform, launched AI-Powered CO2 tracking. This innovative system is designed to help companies meet their supply chain sustainability goals by providing real-time carbon emissions measurement and optimization capabilities. The AI-powered CO2 tracking feature enables companies to understand their carbon output on a per-route, per-stop, and per-vehicle basis, optimize routes to reduce CO2 emissions and visualize the impact of their sustainability initiatives. Through utilizing AI technology, DispatchTrack's route optimization engine identifies green delivery options that use efficient routes with fewer miles driven and less fuel spent, eventually helping last-mile delivery companies lower fuel consumption by at least 10%.
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Key Segments -
The green logistics market covered in this report is segmented -
1) By Service Type: Value Added Services, Warehousing, Distribution, Transportation, Reverse Logistics, Packaging
2) By Mode of Operations: Storage, Roadways Distribution, Seaways Distribution, Other Mode Of Operations
3) By Organization Size: Large Enterprises, Small and Medium Enterprise
4) By Industry: Retail Consumer Goods, Semiconductor and Electronics, Chemical and Material, Automotive, Energy and Utilities, Farming and Agriculture, Other Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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