Press release
Global Hazardous Goods Logistics Market Projected to Surpass $337.09 Billion by 2029 with 7.5% Annual Growth
Hazardous Goods Logistics Market
The upward trend in the oil and gas industry is anticipated to boost the expansion of the hazardous goods logistics market in the future. The oil and gas industry pertains to the global economy's sector that revolves around the discovery, extraction, manufacturing, refinement, distribution, and promotion of hydrocarbon resources, predominantly crude oil and natural gas. Due to the nature of the materials engaged in extraction, production, refinement, and distribution processes, hazardous goods logistics are highly used in the oil and gas industry. For example, the International Energy Agency, a French intergovernmental organization, predicted in June 2023 that the global oil demand is expected to rise by 6% from 2022 to 2028, peaking at 105.7 million barrels daily. The petrochemical and aviation sectors will chiefly drive this increase. Hence, the oil and gas industry's escalation contributes to the hazardous goods logistics market's growth. The hazardous goods logistics market's augmentation is anticipated to be fired up by the escalating demand for e-commerce. E-commerce, meaning electronic commerce, revolves around online trading of goods and services. For the safe, complying, and efficient transport of dangerous or hazardous goods to their buyers, e-commerce enterprises utilize hazardous goods logistics. For instance, in August 2024, the U.S. Census Bureau, an US governmental agency, stated that the total retail sales for the Q2 of 2024 had 16.0 percent represented by e-commerce sales. On an unadjusted measure, the retail e-commerce sales of U.S. hit $282.3 billion in the same period, indicating a 5.3 percent augmentation (±0.7) as compared to Q1 of 2023. Consequently, the increasing demand for e-commerce prompts the expansion of the hazardous goods logistics market.
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How will the growth rate of the hazardous goods logistics market shape industry trends by 2034?
There has been notable expansion in the hazardous goods logistics market over the previous years. This market is projected to escalate from $233.66 billion in 2024 to $252.44 billion in 2025, boasting a compound annual growth rate (CAGR) of 8.0%. Factors such as industrial growth, the rise of globalization, and heightened consciousness regarding the critical role of safety and security in the hazardous goods sector have fueled the growth seen during the historic period.
Over the coming years, a substantial growth is anticipated for the hazardous goods logistics market, which is predicted to reach $337.09 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.5%. This business growth for the projected period is speculated to be fueled by the expansion of e-commerce, ongoing global economic growth, resilient supply chains, and environmental sustainability. Noteworthy trends for this period include the advent of digitization and blockchain, innovative packaging for hazardous materials, collaborative partnerships, multimodal transportation methods, and being prepared for emergency responses.
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What trends are poised to drive the future success of the hazardous goods logistics market?
Major players in the hazardous goods logistics market are developing creative new logistics solutions, like one-stop-shop logistics services, to bolster their market profitability. The term one-stop-shop logistics solution refers to a single entity that offers a broad range of logistics services, thereby offering convenience and efficiency to its clients. For instance, FedEx Corporation, an American transportation company, introduced a one-stop-shop logistics solution for hazardous commodities specific to local firms in Cebu in May 2023. This solution gives clients a single point of contact for all logistics needs, saving both time and money. It enables Cebu's local businesses to export all nine categories of high-risk commodities.
Which primary segments of the hazardous goods logistics market are driving growth and industry transformations?
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
Subsegments:
1) By Flammable: Liquids, Solids, Gases
2) By Explosive: Detonators, Ammunition, Other Explosive Materials
3) By Radioactive: Medical Isotopes, Nuclear Fuel, Other Radioactive Materials
4) By Bio-Hazardous: Medical Waste, Pathological Waste, Sharps Waste
5) By Other Products: Corrosive Materials, Toxic Substances, Compressed Gases
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Which geographical regions are pioneering growth in the hazardous goods logistics market?
North America was the largest region in the hazardous goods logistics market in 2024. 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.
Who are the influential players reshaping the hazardous goods logistics market landscape?
Major companies operating 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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What Is Covered In The Hazardous Goods Logistics Global Market Report?
•Market Size Forecast: Examine the hazardous goods logistics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the hazardous goods logistics market for a structured understanding.
•Key Players Overview: Analyze major players in the hazardous goods logistics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hazardous goods logistics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the hazardous goods logistics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hazardous goods logistics market.
•Industry Challenges: Identify potential risks and obstacles affecting the hazardous goods logistics market.
•Competitive Landscape: Review strategic developments in the hazardous goods logistics market, including expansions, agreements, and new product launches.
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