Green/Sustainable Logistics Market Set to Exceed USD 1,972.7 Billion by 2031.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Green/Sustainable Logistics Market Size, Share & Trends Analysis Report By Business Type (Transport, Warehouse, Distribution, Value-Added Services), Mode Of Operation (Storage, Airways Distribution, Railways Distribution, Roadways Distribution, Seaways Distribution), And End Use (Healthcare, Manufacturing, Automotive, Banking And Financial Services, Retail And E-Commerce), Region, Market Outlook And Industry Analysis 2031"

The Global Green/Sustainable Logistics Market is estimated to reach over USD 1,972.7 Bn by 2031, denoting a CAGR of 7.70% during the forecast period.

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The term "sustainable logistics," sometimes known as "eco-logistics," is incorporating environmental factors into supply chain management and logistics procedures to reduce environmental impact and advance sustainability. To achieve sustainability, companies must adapt their supply chain management processes to make more efficient use of resources. This idea extends beyond the environmental footprint to include the economic and social sustainability of a company's logistics activities. The goal is to minimize the negative externalities associated with business activities for the environment, the economy, and society as a whole. The expansion of the green/sustainable logistics market share is driven by factors like the rise in EV adoption in the logistics sector and the increase in corporate social responsibility (CSR) efforts by logistics organizations.

Furthermore, the green/sustainable logistics industry is boosting due to the spike in EV use in the logistics sector. However, the market's expansion is hampered by the growing reliance on fossil fuels for transportation.

List of Prominent Players in the Green/Sustainable Logistics Market:
• Agility Public Warehousing Company K.S.C.P.
• ARK India
• Bollor SE
• CEVA Logistics
• Deutsche Post DHL Group.
• DSV
• FedEx Corporation
• GEODIS
• Go Green Logistics
• Gosselin Logistics
• Green Logistics LLC
• States Logistics Services, Inc
• The Green Group
• United Parcel Service of America, Inc.
• Westerman Multimodal Logistics
• XPO Logistics, Inc.
• YUSEN LOGISTICS CO., LTD.
• Other Prominent Players

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Market Dynamics: -
Drivers-
Since electric cars (EVs) have the potential to produce less pollution and motor noise than conventional internal combustion vehicles (ICVs), their adoption in city logistics has accelerated in recent years. This move towards electric vehicles is consistent with logistics' growing emphasis on eco-friendly methods. Additionally, logistic firms have taken aggressive steps to reduce their environmental impact as businesses prioritise sustainable practices. Due to its historical reliance on oil and other fossil fuels, goods transportation has made shippers' and logistics businesses' operating costs much higher. Additionally, it adds to the emissions of harmful substances such as particulate matter, nitrogen oxides, carbon dioxide, and black carbon. Communities close to ports and freight hubs face health hazards as a result of these emissions, which are significant contributors to climate change.

Challenges-
The primary obstacles that deter potential investors include reliance on fossil fuels, namely for transportation, a lack of infrastructure, and the high costs associated with adopting green procurement. The costlier green procurement is anticipated to be the main obstacle facing the Green/Sustainable Logistics Market. The time-consuming process of measuring carbon emissions and producing reports on them is hindering the demand for sustainable logistics in the global market.

Regional Trends:
In terms of worldwide Green/Sustainable Logistics Market share, Asia Pacific led. Growing countries like India are embracing new digital technologies and embracing the fourth industrial revolution, which is driving the expansion of the region's market. Regional market expansion will also be fueled by integrated end-to-end logistics operations in nations like India over the projection period. If environmental criteria are not met, fines are enforced by the government. Because electric cars emit no emissions into the environment, their use is increasing in this region, which is driving the global sustainable logistics business.

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Recent Development-
• In Jan 2024, DSV developed and launched an industry-first multimodal shipping strategy that uses sustainable aviation fuels (SAFs) to improve supply chain agility while reducing environmental impact. DSV and Schneider Electric have successfully deployed two unique multimodal shipping bridges-between Singapore and France and Shanghai to France-to minimize Scope 3 carbon emissions from air freight.
• In Aug 2023, CEVA Logistics said that it has signed an agreement to purchase Stellar Value Chain Solutions, which is based in Mumbai. The Stellar acquisition will allow CEVA to broaden its presence in India by increasing its local personnel, assets, client base, and skills. The transaction complements CEVA's objective of offering complete supply chain solutions to its customers. In addition to India, the acquisition adds to CEVA's recent development in contract logistics in Asia Pacific. The transaction is also expected to assist CEVA's freight management and customs operations in the region.
• In June 2023, the division of Deutsche Post AG, which specialises in air and ocean freight, DHL Global Forwarding, and IAGIAG Cargo in Sustainable Aviation Fuel (SAF), established a strategic collaboration. DHL has contracted to purchase 11.5 million litres of SAF as part of this agreement, which will help reduce transport emissions that fall under Scope 3 in 2023.
• In April 2023, a commercial electric vehicle was added to Bolloré Logistics' fleet in India, a division of Bollore SE. With its great mobility and minimal carbon footprint, it is perfect for last-mile delivery.

Segmentation of Green/Sustainable Logistics Market -
By Business Type
• Transportation
• Warehousing
• Distribution
• Value added Services
By Mode of Operation
• Storage
• Airways Distribution
• Railways Distribution
• Roadways Distribution
• Seaways Distribution
• Others
By End-user
• Healthcare
• Manufacturing
• Automotive
• Banking and financial services
• Retail and E-Commerce
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.