Revolutionizing Risk Management: Hazardous Goods Logistics Market to Soar to $382.9 Billion by 2031, Allied Market Research Reports

According to the report published by Allied Market Research, the global hazardous goods logistics market generated $200 billion in 2021, and is projected to reach $382.9 billion by 2031, growing at a CAGR of 7% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

There are prominent key factors that drive the growth of the hazardous goods logistics market, such as stringent rules and regulations for hazardous goods transportation & storage, surge in digitization, increase in use of drones for delivering hazardous goods and rise in oil & gas industry. The global logistics has experienced tremendous transformation in the past few years. The COVID-19 pandemic is making the shippers are focusing on using faster and cost-effective method of shipping the cargo which is expected to fuel the market for hazardous goods logistics. Moreover, several chemical companies requires transport of raw materials and finished chemical products that are used in several industries such as oil & gas, pharmaceuticals, process industries, and others. Manufacturers and 3PL logistical companies are adopting federal and state safety regulations while transporting dangerous goods to minimize the risk involved during transportation. For instance, 3PL providers offer chemical shipment that includes services such as non-asset logistics management that includes shippers to choose carriers and manage their goods in enhanced manner. Thus, rise in need for handling and distributing dangerous chemical products drives the growth of the hazardous goods logistics market.

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List of Key Players in Hazardous Goods Logistics Market:
Agility, Bollore Logistics, CEVA Logistics, DB Schenker, DGD Transports, DHL Supply Chain, DSV, GEODIS, Hellmann Worldwide Logistics, Kuehne + Nagel, Rhenus Logistics, Toll Holdings Ltd., YCH Group, United Parcel Service of America, Inc., XPO Logistics, Inc., Yellow Corporation, and Yusen Logistics Co., Ltd.

The report analyzes these key players in the global hazardous goods logistics market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.

The report offers detailed segmentation of the global hazardous goods logistics market based on Business Type, Operation, Product, Application, and Region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

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Based on business type, the transportation segment held the largest market share in 2021, accounting more than nearly three-fifths of the global market share, and is expected to maintain its leadership status during the forecast period. Furthermore, the same segment, on the other hand, is expected to cite the fastest CAGR of 7.2% during the forecast period. The report also includes other segments such as warehousing and value-added services.

Based on product, the flammable segment held the largest market share in 2021, holding nearly one-third of the global market share. Moreover, the flammable segment is set to maintain its dominant position during the forecast period. Nevertheless, the bio-hazardous segment, on the other hand, is expected to cite the fastest CAGR of 8.1% during the forecast period.

In terms of application, the industrial segment held the highest market share in 2021, holding more than one-third of the global market share, and is anticipated to maintain its number one position during the forecast timeline. However, the healthcare segment, on the other hand, is expected to cite the fastest CAGR of 7.8% during the forecast timespan.

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Based on region, the market across Asia-Pacific held the largest market share in 2021, holding one-third of the global market share. However, Asia-Pacific is set to dominate the global market share in 2031. The Asia-Pacific hazardous goods logistics market is expected to cite the fastest CAGR of 8.5% during the forecast period. The report also covers other regions including LAMEA, Europe, and North America.

KEY FINDINGS OF THE STUDY

By operation, the seaways segment is projected to lead the global hazardous goods logistics market
By business type, the transportation segment is expected to register a significant growth during the forecast period.
By product, the Bio-hazardous segment is projected to lead the global hazardous goods logistics market
By application, the healthcare segment is projected to lead the global hazardous goods logistics market
Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Similar Reports We Have on Logistics Industry:

https://www.alliedmarketresearch.com/automotive-logistics-market-A31507 - Global Opportunity Analysis and Industry Forecast, 2021-2031

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