Press release
Hazardous Goods Logistics Market Trends, Top Companies, Share, Growth And Forecast 2033
Hazardous Goods Logistics Market
Hazardous Goods Logistics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $311.27 billion In 2028 At A CAGR Of 7.4% :
The hazardous goods logistics market size has grown strongly in recent years. It will grow from $215.63 billion in 2023 to $233.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to growth of industrialization, growing globalization, increasing awareness of the importance of safety and security in hazardous goods, .
The hazardous goods logistics market size is expected to see strong growth in the next few years. It will grow to $311.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to e-commerce growth, continued growth of the global economy, supply chain resilience, environmental sustainability. Major trends in the forecast period include digitization and blockchain, hazardous materials packaging innovation, collaborative partnerships, multimodal transportation, emergency response preparedness.
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Hazardous Goods Logistics Market Major Segments
The hazardous goods logistics market covered in this report is segmented -
1) By Product: Flammable; Explosive; Radioactive; Bio-Hazardous; Other Products
2) By Business Type: Transportation; Warehousing; Value-Added Services
3) By Operation: Seaways; Roadways; Railways; Airways; Storage And Services
4) By Application: Industrial; Healthcare; Agriculture; Other Applications
Key Driver - Rising Demand From The Oil And Gas Industry Drives The Hazardous Goods Logistics Market
The rise in the oil and gas industry is expected to propel the growth of the hazardous goods logistics market going forward. The oil and gas industry refers to the sector of the global economy involved in the exploration, extraction, production, refining, distribution and marketing of hydrocarbon resources, primarily crude oil and natural gas. Hazardous goods logistics are extensively used in the oil and gas industry due to the nature of the materials involved in exploration, production, refining and distribution processes. For instance, in June 2022, according to The Office for National Statistics, a UK-based government department, gas imports into the UK reached $24.92 billion in 2021, a significant rise of 312% from $6.10 billion in 2020. Moreover, the UK gas exports reached $4.32 billion in 2021, a 167% increase from $1.65 billion in 2020. Therefore, the rise in the oil and gas industry is driving the growth of the hazardous goods logistics market.
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Prominent Trend - One-Stop Logistics Solutions Revolutionize Hazardous Goods Logistics For Efficiency And Cost Savings
Major companies operating in the hazardous goods logistics market are developing innovative new logistic solutions, such as one-stop-shop logistics solutions, to increase their profitability in the market. A one-stop-shop logistics solution refers to a business or service provider that offers a complete portfolio of logistics services under the same denominator, providing convenience and efficiency to clients. For instance, in May 2023, FedEx Corporation, a US-based transportation company, launched a one-stop-shop logistics solution for hazardous commodities for local Cebu firms. One-stop-shop logistics solutions may save time and money by offering a lone point of contact for all logistical requirements. This solution enables local companies in Cebu to export all nine kinds of risky commodities.
Hazardous Goods Logistics Market Players
Major players in the hazardous goods logistics market are Deutsche Post DHL Group, YRC Worldwide Inc., FedEx Corporation, A.P. Moller - Maersk, Kühne + Nagel International AG, DSV A/S, United Parcel Service Inc. (UPS), DB Schenker, C.H. Robinson Worldwide Inc., Nippon Express Co.Ltd., Expeditors International of Washington Inc., Panalpina Welttransport Holding AG, Geodis Logistics LLC, Kerry Logistics Network Limited, Bollore Logistics, XPO Logistics Inc., Kawasaki Kisen Kaisha Ltd., Hitachi Transport System Ltd., Hellmann Worldwide Logistics SE & Co. KG, Yusen Logistics Inc., Nishi-Nippon Railroad Co. Ltd., MOL Logistics Co. Ltd., Agility Public Warehousing Company K.S.C.P., Ceva Logistics, Toll Group, Rhenus Logistics S.A., DGD Transport LLC, Sagawa Express Co. Ltd.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the hazardous goods logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hazardous Goods Logistics Market Report Structure
3. Hazardous Goods Logistics Market Trends And Strategies
4. Hazardous Goods Logistics Market - Macro Economic Scenario
5. Hazardous Goods Logistics Market Size And Growth
…..
27. Hazardous Goods Logistics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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