Press release
Hazardous Goods Logistics Market Size Forecasted To Achieve $337.09 Billion By 2029 With Steady Growth
Hazardous Goods Logistics Market Size
What Is the Hazardous Goods Logistics Market Size and Projected Growth Rate?
The size of the hazardous goods logistics market has seen significant growth in the past few years. Its expansion from $233.66 billion in 2024 to a projected $252.44 billion in 2025, at a compound annual growth rate (CAGR) of 8.0%, is notable. This escalating trend during the historic period can be credited to the surge in industrialization, intensifying globalization, and a heightened understanding of safety and security protocols associated with hazardous items.
The market size of hazardous goods logistics is predicted to witness substantial expansion in the upcoming years. The expectation is for it to escalate to $337.09 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this anticipated growth in the forecasted span include the rise of e-commerce, consistent global economic growth, supply chain stability, and environmental sustainability. Developments expected to trend within this timeframe encompass digitalization and blockchain, innovation in hazardous materials packaging, cooperative partnerships, multi-modal transportation, and readiness for emergency response.
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What Are the Major Segments in the Hazardous Goods Logistics Market?
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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What Are The Driving Hazardous Goods Logistics Market Evolution?
The anticipated ascend in the oil and gas sector is projected to expedite the development of the hazardous goods logistics market. This sector contributes significantly to the global economy through various functions like exploration, extraction, refining, distribution, and marketing of hydrocarbon assets like crude oil and natural gas. Due to the inherent precariousness of the materials used in these processes, hazardous goods logistics find substantial application in this industry. For example, the International Energy Agency, an intergovernmental organization based in France, indicated that there would be a 6% increment in the worldwide oil demand from 2022 to 2028, culminating at 105.7 million barrels per day (mb/d) in June 2023. The surge is likely due to the escalating requirements from the petrochemical and aviation industries. Consequently, the oil and gas sector's expansion is augmenting the hazardous goods logistics market's growth. In another important market driver, the hazardous goods logistics market is expected to flourish due to a surge in e-commerce. E-commerce, an abbreviation for electronic commerce, relates to online trading of products and services. Transporting hazardous or dangerous products safely, abiding by regulations, and efficiently to consumers is pivotal in e-commerce, hence the use of hazardous goods logistics. For instance, during the second quarter of 2024, the U.S Census Bureau, a U.S based government agency reported that e-commerce sales accounted for 16.0 percent of the overall retail sales. They marked an unadjusted retail e-commerce sales record of $282.3 billion in this timeframe, a 5.3 percent hike (±0.7) from the first quarter of 2023. Thus, the escalating demand in e-commerce is fuelling the hazardous goods logistics market's expansion.
Which Firms Dominate The Hazardous Goods Logistics Market Segments?
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.
What Trends Are Driving Growth in The Hazardous Goods Logistics Market?
Key businesses in the hazardous goods logistics field are creating unique logistic methods such as comprehensive logistics solutions, to boost their commercial gain. The term "comprehensive logistics solution" implies a company or service entity that provides a full suite of logistics services under one umbrella, offering both convenience and effectiveness to their customers. For example, FedEx Corporation, an American transportation company, unveiled a complete logistics solution for hazardous items specifically for local businesses in Cebu in May 2023. Comprehensive logistics solutions can reduce costs and save time by providing a single point of touch for all logistics needs. This solution facilitates local Cebu companies to export all nine types of hazardous goods.
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Which Is The Largest Region 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hazardous Goods Logistics Market?
2. What is the CAGR expected in the Hazardous Goods Logistics Market?
3. What Are the Key Innovations Transforming the Hazardous Goods Logistics Industry?
4. Which Region Is Leading the Hazardous Goods Logistics Market?
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