Green and Sustainable Logistics Market to Reach $2,529.3 Billion by 2034, Fueled by EV Adoption and Eco-Friendly Supply Chain Initiatives

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 2034"

The Global Green/Sustainable Logistics Market is estimated to reach over USD 2529.30 Bn by the year 2034, denoting a CAGR of 7.9% during the forecast period.

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The concept of sustainable logistics, also referred to as eco-logistics, involves integrating environmental considerations into supply chain management and logistics operations to minimize ecological impact and promote overall sustainability. Achieving this objective requires organizations to optimize their supply chain processes for more efficient resource utilization. Sustainable logistics encompasses not only environmental performance but also the economic and social dimensions of a company's logistics activities, aiming to mitigate negative externalities across environmental, economic, and societal spheres.

The growth of the green logistics market is being driven by factors such as increasing adoption of electric vehicles (EVs) within logistics operations and heightened corporate social responsibility (CSR) initiatives among logistics providers. Nonetheless, market expansion faces constraints due to the continued dependence on fossil fuels in transportation and related logistics processes.

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:
The adoption of electric vehicles (EVs) in urban logistics has accelerated in recent years due to their potential to reduce both emissions and noise compared to conventional internal combustion vehicles (ICVs). This shift aligns with the logistics industry's increasing focus on sustainable and environmentally responsible practices. Logistics companies are proactively implementing measures to minimize their environmental footprint, reflecting broader corporate priorities on sustainability.

Traditional goods transportation, heavily reliant on oil and other fossil fuels, has historically contributed to higher operating costs for shippers and logistics providers. Additionally, it generates harmful emissions, including particulate matter, nitrogen oxides, carbon dioxide, and black carbon, which pose health risks to communities near ports and freight hubs and exacerbate climate change.

Challenges:
The widespread adoption of sustainable logistics faces several barriers, primarily the continued reliance on fossil fuels for transportation, insufficient infrastructure, and the high costs associated with green procurement initiatives. The elevated expense of environmentally sustainable solutions is expected to remain a significant constraint for the Green/Sustainable Logistics Market. Furthermore, the labor-intensive processes involved in measuring carbon emissions and generating compliance reports hinder the broader implementation of sustainable practices across the global logistics sector.

Regional Trends:
The Asia-Pacific region currently leads the global Green/Sustainable Logistics Market in terms of market share. Emerging economies, such as India, are increasingly adopting digital technologies and integrating Fourth Industrial Revolution (Industry 4.0) solutions, which is driving regional market growth. The expansion of end-to-end integrated logistics operations in these countries is further supporting market development.

Government regulations enforcing compliance with environmental standards, coupled with the growing adoption of emission-free electric vehicles, are key factors propelling the sustainable logistics industry in the region and contributing to its global market prominence.

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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.