Soaring Demand Set to Propel Hazardous Goods Logistics Market to $337.09 Billion by 2029

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What Is the Expected CAGR for the Hazardous Goods Logistics Market Through 2025?
There has been a substantial expansion in the hazardous goods logistics market size in the past few years. Its growth is projected to escalate from $233.66 billion in 2024 to $252.44 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.0%. Factors such as the surge in industrialization, rise of globalization, and increasing cognizance of safety and security concerning hazardous goods have contributed to the growth observed in the historical period.

What's the Projected Size of the Global Hazardous Goods Logistics Market by 2029?
The market size for hazardous goods logistics is anticipated to witness substantial growth in the upcoming years, with a forecasted value of $337.09 billion in 2029 and a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this growth during the forecast period are expansion of e-commerce, sustained global economic growth, resilience in the supply chain, and environmental sustainability. Emerging trends expected during this period include the digitalisation and application of blockchain, innovations in hazardous material packaging, the formation of collaborative partnerships, multimodal transportation, and preparation for emergency responses.

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Top Growth Drivers in the Hazardous Goods Logistics Industry: What's Accelerating the Market?
The anticipated growth in the oil and gas sector is set to fuel the expansion of the hazardous goods logistics market. This sector involves global activities such as exploration, extraction, production, refining, distribution, and marketing of hydrocarbon resources such as crude oil and natural gas. Due to the dangerous materials involved in these processes, hazardous goods logistics play a crucial role in this industry. An International Energy Agency report from June 2023 predicts that global oil demand will see a 6% rise from 2022 to 2028, hitting 105.7 million barrels per day. This surge would primarily be due to heightened demand from the petrochemical and aviation sectors, thereby contributing to the growth of the hazardous goods logistics market. The hazardous goods logistics market is also set to benefit from the increasing demand for e-commerce. This involves online buying and selling of goods and services, and these businesses rely on hazardous goods logistics for the secure, compliant and efficient transportation of potentially dangerous goods to their consumers. According to a report by the U.S. Census Bureau in August 2024, e-commerce sales represented 16.0% of all retail sales in the second quarter of 2024. On an unadjusted basis, U.S. retail e-commerce sales for this period hit $282.3 billion, a 5.3% increase compared to the first quarter of 2023. Therefore, the growing prominence of e-commerce is also a significant driver of the hazardous goods logistics market.

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What Trends Will Shape the Hazardous Goods Logistics Market Through 2029 and Beyond?
Leading operators in the hazardous goods logistics market are creating innovative logistics solutions, such as the all-in-one logistics solutions, in a bid to boost market profitability. An all-in-one logistics solution is a kind of business or service delivery model which offers a comprehensive collection of logistics services under the same umbrella, thus ensuring enhanced convenience and efficiency for customers. Take for example FedEx Corporation, an American transportation firm, which in May 2023, introduced a comprehensive logistics solution for hazardous materials specifically for local firms in Cebu. Such an all-in-one logistics solution can save time and costs by providing a single point of connection for all logistic needs. This solution allows local businesses in Cebu to export all nine categories of hazardous goods.

What Are the Main 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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Which Top Companies are Driving Growth in the Hazardous Goods Logistics Market?
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.

Which Regions Will Dominate the Hazardous Goods Logistics Market Through 2029?
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.

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