Third Party Logistics Market Share Is Anticipated to Hit Around USD 2,448.06 Billion by 2034, Expanding at A CAGR of 7.5% | PMR

New York, USA, Dec. 19, 2024 (GLOBE NEWSWIRE) — Market Estimates

Polaris Market Research’s latest report, titled “Third Party Logistics (3PL) Market” 2025-2034. The report covers key success factors, market performance, risk factors, project costs and economics, expected ROI, and profit margins. The global market was valued at USD 1184.48 billion in 2024 and is expected to grow to USD 2448.06 billion by 2034 at a CAGR of 7.5% during the forecast period.

Market Overview

A third party logistics donor provides outsourced logistics services which circumscribe anything that includes handling of one or more dimension of acquisition and realization ventures. In business, 3PL has wide denotation that applies to any service arrangement that includes reserving or shipping items. A 3PL service might be a solitary donor such as a conveyor or warehouse preservation, or it can be a structure-wide package of services competent to handling supply chain management.

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Key Insights from Report

• The market for third party logistics (3PL) is significantly shaped by it offering discretely handling stock regulation, warehousing, IT framework and conveyance solutions.
• The third party logistics market segmentation is mainly based on service, mode of transport, end use and region.
• Based on service, the domestic transportation segment is expected to experience the highest CAGR during the forecast period.
• By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

3PL Market Scope

Market’s Growth Drivers

Rise in Worldwide Trading Ventures: The surge in global trading ventures as an outcome of extensive globalization serves as a critical element powering market advancement. Manufacturers and retailers identifying the significance of concentrating on their elemental capacities are growingly depending on exterior businesses to execute several logistics operations contributing to the third party logistics (3PL) market growth.

Significant Internal Regulations: The truancy of important internal regulations has encouraged several intermediate firms to outsource logistics services to get control of provocations. Simultaneously, the escalating assortment in conveyance potential and growing shipping demand sanction service donors to enhance their supply chain operations. Therefore, as more service donors move to provide industry-particular services, the demand for 3PL is anticipated to rise.

Growing Inclination for Online Shopping: The growing aggregate of consumers favoring online shopping has forced businesses to maximize their supply chains to oblige the growing demand for speedy and productive services. As e-commerce demand proceeds to grow globally, businesses encounter the provocation of conveying orders speedily and economically which frequently needs the outsourcing of logistics from specific 3PL service donors.

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List of Third Party Logistics Market Key Players

• Burris Logistics
• DSV
• BDP International
• DB Schenker Logistics
• Burris Logistics
• FedEx
• J.B. Hunt Transport, Inc.
• C.H. Robinson Worldwide, Inc.
• CEVA Logistics
• Kuehne + Nagel
• XPO Logistics, Inc
• Yusen Logistics Co. Ltd.

Geographical Analysis

In 2024, Asia Pacific accounted for the largest third party logistics (3PL) market share. The market was strengthened by growing demand for 3PL from the manufacturing and retail sectors in surfacing nations. Apart from that, the escalating trans regional trade corridors and gateway are expected to offer gainful possibilities for regional 3PL donors and push the regional market size.

North America is also expected to grow at the highest CAGR during the forecast period owing to the initiation of contemporary economic policies and superior infrastructure of rail, road, sea, and air transport. 

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Market Segmentation

By Service Outlook

• Dedicated Contract Carriage
• Domestic Transportation Management
• International Transportation Management
• Distribution and Warehousing
• Others

By Mode of Transport Outlook

• Roadways
• Railways
• Waterways
• Airways

By End Use Outlook

• Retail
• Manufacturing
• Healthcare
• Others

By Region Outlook

• North America
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

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