3PL market in the US to grow at a CAGR of 8.42% from 2022 to 2027: Increasing use of multimodal transport to drive growth - Technavio

NEW YORK, May 9, 2023 /PRNewswire/ -- The 3PL market size in the US is estimated to grow by USD 117.1 billion during 2022-2027. Moreover, the growth momentum will progress at a CAGR of 8.42% during the forecast period. The market is segmented by end-user (retail, manufacturing, automotive, food and beverages, and others) and service (transportation, warehousing and distribution, and others). In 2017, the 3PL market in US was valued at USD 172.54 billion. The retail segment will account for a significant share of the market's growth during the forecast period. The retail industry covers organized retail and consumer goods. The growth of consumer goods is attributed to factors such as the adoption of various appliances, including air conditioners, refrigerators, washing machines, and hairstyling devices. Due to changing consumer preferences, companies use 3PL services to deliver products to customers. The increasing use of multimodal transport is driving market growth. Multimodal transport refers to the combination of two or more modes of transport, such as road, rail, air, or sea. This type of transport helps reduce storage and transport costs. For instance, FedEx Corp. (FedEx) uses various modes of transport to ensure the safe transportation of goods. These factors will fuel market growth during the forecast period. To leaarn more about the market, request a sample report.

Market insights -

• Vendors: 15+, including Americold Realty Trust Inc., Blu Logistics, Burris Logistics Co., C H Robinson Worldwide Inc., Crete Carrier Corp., Expeditors International of Washington Inc., FedEx Corp., Hub Group Inc., J B Hunt Transport Services Inc., Kenco Group Inc., Kuehne Nagel Management AG, M and W Logistics Group Inc., NFI Industries Inc., Ryder System Inc., Taylor Logistics Inc., Total Quality Logistics LLC, United Parcel Service Inc., Wagner Logistics Inc., XPO Inc., Deutsche Post AG, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: End-user (retail, manufacturing, automotive, food and beverages, and others) and service (transportation, warehousing and distribution, and others)

3PL market in US - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• For highlights on customer landscape analysis, download a sample!

3PL market in US - Vendor insights

The 3PL market in US is fragmented, with a large number of international and regional logistics vendors. There are various growth opportunities for vendors in the market, especially due to the rising demand for green logistics and digital transformation. Vendors would be able to enhance their services and increase their market shares by incorporating such solutions. They differentiate themselves based on service quality and innovations. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including

• C H Robinson Worldwide Inc. - The company offers 3PL services that provide control of the required stock in warehouses with flexible storage solutions, such as temperature-controlled spaces for bonded and non-bonded goods.
• Expeditors International of Washington Inc. - The company offers 3PL services that provide procurement, warehouse management, transportation of goods, and distribution, along with freight consolidation.
• FedEx Corp. - The company offers 3PL services that provide order capturing, tracking, and fulfilling customer orders.
• Hub Group Inc. - The company offers 3PL services that manage order fulfillment by holding inventory warehouses and packing orders and sending them out for delivery as per client requirements.

3PL market in US – Market dynamics

Major trends – 

• Growing demand for green logistics
• Emergence of blockchain and RFID in logistics
• Digital transformation in logistics

Global warming is compelling suppliers to adopt green logistics solutions to reduce carbon footprint. Vendors are coming up with eco-friendly strategies to generate profits. Such approaches help improve brand image at low costs. Some vendors are also opting for electric vehicles for logistics. For instance, Deutsche Post has partnered with StreetScooter GmbH to develop a new electric vehicle with hydrogen technology. These factors will fuel the growth of the 3PL market in US during the forecast period.

Key challenges

• Rise in cargo theft
• High impact of trade war
• Shortage of truck drivers

Most movement of goods and freight within the US is by road. However, in various states in the US, the rise in cargo theft has compelled 3PL service providers and companies to choose logistics services. Businesses are spending significantly to insure their goods, which is increasing the demand for various insurance plans. This increases the cost of insurance premiums, which further raises operating costs incurred by 3PL service providers. Companies also follow various strategies, such as click and collect, to reduce the threat of cargo theft. Such factors will, in turn, restrict the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on businesses. Find more insights in a
sample report!

The report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the 3PL market in US between 2023 and 2027
• Precise estimation of the size of the 3PL market in US and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the 3PL market in US
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of 3PL market vendors in US

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Related Reports:

The third-party logistics (3PL) market is estimated to grow at a CAGR of 7.87% between 2022 and 2027. The size of the market is forecasted to increase by USD 532.65 billion. This report extensively covers market segmentation by application (transportation services, warehousing and distribution services, and other services), end-user (manufacturing, retail, consumer goods, healthcare, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

The Europe third-party logistics (3PL) market is estimated to grow at a CAGR of 24.7% between 2022 and 2027, and the size of the market is forecasted to increase by USD 458.87 billion. This report extensively covers market segmentation by end-user (manufacturing, retail, consumer goods, healthcare, and others) and service (transportation, warehousing and distribution, and others).

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 3PL market in US 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on 3PL market in US 2017 - 2021 ($ billion)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)

• 4.3 Service Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – Service Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 25: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 26: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 27: Chart on Comparison by End-user
• Exhibit 28: Data Table on Comparison by End-user

• 6.3 Retail - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Retail - Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Retail - Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Retail - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Retail - Year-over-year growth 2022-2027 (%)

• 6.4 Manufacturing - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Manufacturing - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Manufacturing - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%)

• 6.5 Automotive - Market size and forecast 2022-2027 
• Exhibit 37: Chart on Automotive - Market size and forecast 2022-2027 ($ billion)
• Exhibit 38: Data Table on Automotive - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Chart on Automotive - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Automotive - Year-over-year growth 2022-2027 (%)

• 6.6 Food and beverages - Market size and forecast 2022-2027 
• Exhibit 41: Chart on Food and beverages - Market size and forecast 2022-2027 ($ billion)
• Exhibit 42: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Chart on Food and beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 44: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027 
• Exhibit 45: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 46: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 48: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 49: Market opportunity by End-user ($ billion)
• Exhibit 50: Data Table on Market opportunity by End-user ($ billion)

7 Market Segmentation by Service

• 7.1 Market segments
• Exhibit 51: Chart on Service - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Service - Market share 2022-2027 (%)

• 7.2 Comparison by Service 
• Exhibit 53: Chart on Comparison by Service
• Exhibit 54: Data Table on Comparison by Service

• 7.3 Transportation - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Transportation - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Transportation - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Transportation - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Transportation - Year-over-year growth 2022-2027 (%)

• 7.4 Warehousing and distribution - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Warehousing and distribution - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Warehousing and distribution - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Warehousing and distribution - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Warehousing and distribution - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Service 
• Exhibit 67: Market opportunity by Service ($ billion)
• Exhibit 68: Data Table on Market opportunity by Service ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 70: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 71: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 72: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 73: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 74: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 75: Matrix on vendor position and classification

• 11.3 Americold Realty Trust Inc. 
• Exhibit 76: Americold Realty Trust Inc. - Overview
• Exhibit 77: Americold Realty Trust Inc. - Business segments
• Exhibit 78: Americold Realty Trust Inc. - Key offerings
• Exhibit 79: Americold Realty Trust Inc. - Segment focus

• 11.4 Burris Logistics Co.
• Exhibit 80: Burris Logistics Co. - Overview
• Exhibit 81: Burris Logistics Co. - Product / Service
• Exhibit 82: Burris Logistics Co. - Key offerings

• 11.5 C H Robinson Worldwide Inc. 
• Exhibit 83: C H Robinson Worldwide Inc. - Overview
• Exhibit 84: C H Robinson Worldwide Inc. - Business segments
• Exhibit 85: C H Robinson Worldwide Inc. - Key news
• Exhibit 86: C H Robinson Worldwide Inc. - Key offerings
• Exhibit 87: C H Robinson Worldwide Inc. - Segment focus

• 11.6 Deutsche Post AG
• Exhibit 88: Deutsche Post AG - Overview
• Exhibit 89: Deutsche Post AG - Business segments
• Exhibit 90: Deutsche Post AG - Key news
• Exhibit 91: Deutsche Post AG - Key offerings
• Exhibit 92: Deutsche Post AG - Segment focus

• 11.7 Expeditors International of Washington Inc. 
• Exhibit 93: Expeditors International of Washington Inc. - Overview
• Exhibit 94: Expeditors International of Washington Inc. - Business segments
• Exhibit 95: Expeditors International of Washington Inc. - Key offerings
• Exhibit 96: Expeditors International of Washington Inc. - Segment focus

• 11.8 FedEx Corp.
• Exhibit 97: FedEx Corp. - Overview
• Exhibit 98: FedEx Corp. - Business segments
• Exhibit 99: FedEx Corp. - Key offerings
• Exhibit 100: FedEx Corp. - Segment focus

• 11.9 Hub Group Inc.
• Exhibit 101: Hub Group Inc. - Overview
• Exhibit 102: Hub Group Inc. - Product / Service
• Exhibit 103: Hub Group Inc. - Key offerings

• 11.10 J B Hunt Transport Services Inc. 
• Exhibit 104: J B Hunt Transport Services Inc. - Overview
• Exhibit 105: J B Hunt Transport Services Inc. - Business segments
• Exhibit 106: J B Hunt Transport Services Inc. - Key offerings
• Exhibit 107: J B Hunt Transport Services Inc. - Segment focus

• 11.11 Kenco Group Inc.
• Exhibit 108: Kenco Group Inc. - Overview
• Exhibit 109: Kenco Group Inc. - Product / Service
• Exhibit 110: Kenco Group Inc. - Key offerings

• 11.12 Kuehne Nagel Management AG 
• Exhibit 111: Kuehne Nagel Management AG - Overview
• Exhibit 112: Kuehne Nagel Management AG - Business segments
• Exhibit 113: Kuehne Nagel Management AG - Key offerings
• Exhibit 114: Kuehne Nagel Management AG - Segment focus

• 11.13 M and W Logistics Group Inc. 
• Exhibit 115: M and W Logistics Group Inc. - Overview
• Exhibit 116: M and W Logistics Group Inc. - Product / Service
• Exhibit 117: M and W Logistics Group Inc. - Key offerings

• 11.14 NFI Industries Inc.
• Exhibit 118: NFI Industries Inc. - Overview
• Exhibit 119: NFI Industries Inc. - Product / Service
• Exhibit 120: NFI Industries Inc. - Key offerings

• 11.15 Ryder System Inc.
• Exhibit 121: Ryder System Inc. - Overview
• Exhibit 122: Ryder System Inc. - Business segments
• Exhibit 123: Ryder System Inc. - Key news
• Exhibit 124: Ryder System Inc. - Key offerings
• Exhibit 125: Ryder System Inc. - Segment focus

• 11.16 United Parcel Service Inc. 
• Exhibit 126: United Parcel Service Inc. - Overview
• Exhibit 127: United Parcel Service Inc. - Business segments
• Exhibit 128: United Parcel Service Inc. - Key offerings
• Exhibit 129: United Parcel Service Inc. - Segment focus

• 11.17 XPO Inc.
• Exhibit 130: XPO Inc. - Overview
• Exhibit 131: XPO Inc. - Business segments
• Exhibit 132: XPO Inc. - Key offerings
• Exhibit 133: XPO Inc. - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 134: Inclusions checklist
• Exhibit 135: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 136: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 137: Research methodology
• Exhibit 138: Validation techniques employed for market sizing
• Exhibit 139: Information sources

• 12.5 List of abbreviations 
• Exhibit 140: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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