Europe Logistics Market size to increase by USD 51.35 billion during 2022-2027| Growing demand for 3PLs is to drive the market growth - Technavio

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Nov 02, 2023, 19:35 ET

NEW YORK, Nov. 2, 2023 /PRNewswire/ -- The Europe - Logistics Market size is expected to grow by USD 51.35 billion, accelerating at a CAGR of 3.86% during the forecast period, according to Technavio's market analysis. A significant driver of growth in the European logistics market is the rising demand for Third-Party Logistics (3PL) services. Many companies are increasingly turning to 3PL providers to outsource various operations, including transportation and warehousing, among other strategic activities. This trend is primarily motivated by the aim of reducing costs and enhancing the quality of services provided to customers. The market is segmented by Type (3PL and 4PL), End-user (Manufacturing, Automotive, Consumer goods, Retail industry, and Others), and Geography (Europe). The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample Report

Technavio has announced its latest market research report titled Logistics Market in Europe 2023-2027

Europe - Logistics Market 2023 – 2027: Key Highlights:

The report recognizes the following as some of the key players in the logistics market: AP Moller Maersk AS, BDP International Inc., Bertelsmann SE and Co. KGaA, C H Robinson Worldwide Inc., CEVA Logistics S A, Deutsche Bahn AG, Deutsche Post AG, DSV AS, Expeditors International of Washington Inc., FedEx Corp., Hellmann Worldwide Logistics SE and Co KG, International Distributions Services plc, Kintetsu World Express Inc., Kuehne Nagel Management AG, Nippon Yusen Kabushiki Kaisha, Rhenus SE and Co. KG, SDK FREJA A S, SF Express Co. Ltd., XPO Inc., and Bollore SE
Logistics Market is fragmented in nature.
Market to observe 3.21% YOY growth in 2023.

Europe - Logistics Market 2023 – 2027: Market Dynamics:

Trend

Customer-centric logistics is a key factor shaping the growth of the European logistics market.
Empowered consumers are driving logistics providers to focus on customer-centric approaches.
Analyzing historical data, including sales forecasts, weather predictions, and customer sentiments, helps providers understand customer behavior.
Data from point-of-sales, traffic reports, and market share data is being used for informed decision-making.
The adoption of predictive analytics has increased, enhancing the impact on the European logistics market. This trend is expected to drive market growth during the forecast period.

Challenges

Environmental concerns is a key challenge to Europe's logistics market growth.
Oil supply issues, climate change, congestion, and pollution are significant factors.
The European transport sector accounts for around 30% of total energy consumption.
Emphasis on sustainable transportation is growing to address energy security and environmental protection, despite the logistics market being hindered by these challenges.

The report also covers information on the upcoming trends and challenges. Explore detail information by purchasing report

Europe - Logistics Market 2023 – 2027: Key Segments:

The 3PL (Third-Party Logistics) segment is expected to contribute substantial growth in the logistics market in Europe during the forecast period. Within the 3PL services segment, there are offerings such as transportation, warehousing, distribution, freight forwarding, inventory management, and packaging. The key advantage of 3PL services lies in their ability to tailor solutions to individual client requirements, optimizing routes, reducing costs, and enhancing operational efficiency. Moreover, these services benefit from economies of scale and specialized expertise, allowing companies to concentrate on their core strengths while entrusting logistics intricacies to seasoned professionals.

Get a glance at the market contribution of the segments, Request Sample Report Here

Related Reports:

Asia Pacific (APAC) Logistics Market: The Asia Pacific (APAC) Logistics Market size is estimated to grow at a CAGR of 5.25% between 2022 and 2027. The market size is forecast to increase by USD 145.4 million.

UAE - Logistics Market: The UAE - logistics market size is estimated to grow at a CAGR of 7.23% between 2022 and 2027. The market size is forecast to increase by USD 10,375.52 million.

TOC:

Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by End-User
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix

About Technavio

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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SOURCE Technavio