$ 32.15 Billion Growth in Global Project Logistics Market 2020-2024 | 55% Growth to Come from APAC | Technavio

NEW YORK, March 2, 2021 /PRNewswire/ -- The project logistics market is expected to grow by USD 32.15 billion, progressing at a CAGR of almost 3% during 2020-2024. The report identifies APAC as the key growth region for the market and the region is expected to offer significant opportunities for market vendors over the forecast period.

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"One of the primary growth drivers for this market is the rising demand for project logistics from the automotive industry," says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the project logistics market size to grow by USD 32.15 billion during the period 2020-2024.

Project Logistics Market Segment Highlights for 2020

• The project logistics market is expected to post a year-over-year growth rate of 2.53%.
• Based on the segmentation by service, the market witnessed maximum growth in the transportation services segment in 2019.
• The transportation services segment is driven by the increased number of customized and innovative transportation solutions offered by major vendors in the market.
• The market growth in the transportation services segment will be significant over the forecast period.

Regional Analysis

• 55% of the growth will originate from the APAC region.
• The establishment of new manufacturing plants by international players will be crucial in the growth of the market in APAC during the forecast period.
• China and India are the major markets in the region. Over the forecast period, market growth in APAC will be faster than that of other geographies.

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Related Reports on Industrials Include:
Global Logistics Market - Global logistics market is segmented by end-user (consumer goods, automotive, food and beverage, healthcare, and others) and geography (APAC, North America, Europe, MEA, and South America). Get an Exclusive Free Sample Report

Global E-Commerce Logistics Market - Global e-commerce logistics market is segmented by service (transportation, warehousing, and others) and geography (APAC, Europe, MEA, North America, and South America). Get an Exclusive Free Sample Report

Notes:

• The project logistics market size is expected to accelerate at a CAGR of almost 3% during the forecast period.
• The project logistics market is segmented by Service (Transportation, Warehousing, and Others) and Geographic Landscape (APAC, Europe, MEA, North America, and South America).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including C.H. Robinson Worldwide Inc., CEVA Logistics AG, DB Vertrieb GmbH, Deutsche Post AG, DSV AS, FedEx Corp., Kuehne + Nagel International AG, Nippon Express Co. Ltd., United Parcel Service Inc., and XPO Logistics Inc.

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Report Page: https://www.technavio.com/report/project-logistics-market-industry-analysis

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