Shipping and Logistics Market Report 2024 (Global Edition)

Global Shipping and Logistics Market Report 2024 Market Size Split by Type (Second-party logistics (2PL), Third-party logistics (3PL), Fourth-party logistics (4PL)), by Industry (Manufacturing Industr...

Shipping and Logistics Market Report Description

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Competitive Landscape of the Shipping and Logistics Market

The shipping and logistics market features intense competition among global players vying for market share and innovation leadership. Key competitors include established logistics giants like UPS, FedEx, and DHL, as well as emerging digital disruptors such as Flexport and ShipBob. Competitive strategies focus on technological advancements, network expansion, service differentiation, and sustainability initiatives to meet evolving customer demands and gain competitive advantage.

Shipping and Logistics Industry News

In May 2023, Austrian logistics company Cargo-Partner announced that Nippon Express Co., Ltd. will purchase it for up to $150 million. Nippon Express's capacity to provide a range of logistical services between Asia and Europe has been strengthened by the acquisition of Cargo-Partner. 

(Source: https://www.cargo-partner.com/press/article/notice-of-completion-of-acquisition-of-shares-subsidiarization-of-cargo-partner)

 

In May 2023, FedEx Express introduced one-stop logistical solutions for dangerous commodities in Cebu. Hazardous Materials are chemicals or products that, if not handled carefully, could endanger human health, public safety, or the environment.

(Source: https://newsroom.fedex.com/fedex-launches-one-stop-shop-logistics-solution-for-dangerous-goods)

Top Companies Market Share in Shipping and Logistics Industry: (In no particular order of Rank)

• United Parcel Service Inc (UPS)
• MOLLER – MAERSK
• DSV (DSV Panalpina)
• Robinson Worldwide Inc
• FEDEX
• Kuehne+Nagel
• GEODIS
• Nippon Express
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Shipping and Logistics Market

Which Region will dominate the Shipping and Logistics Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. In North America, the shipping and logistics market is robust and dynamic, driven by factors such as extensive trade activity, advanced infrastructure, and technological innovation. Key players in this region benefit from strategic locations, well-developed transportation networks, and efficient supply chain management systems. Major ports along the East and West coasts facilitate international trade flows, while inland hubs ensure seamless distribution across the continent. Additionally, a growing emphasis on sustainability and digitalization is shaping the future trajectory of the industry in North America.

Which Region is Expanding at the Fastest CAGR?

The European region is witnessing an increase in the sales of reagents. A robust infrastructure network, including extensive road, rail, and waterway systems, characterizes this shipping and logistics market. Major ports like Rotterdam, Hamburg, and Antwerp serve as vital gateways for international trade. The region benefits from strategic geographical positioning, facilitating trade between Europe, Asia, and North America. Additionally, stringent environmental regulations drive innovation in sustainable transportation solutions. With a focus on efficiency and sustainability, Europe remains a key player in the global shipping and logistics industry.

The current report Scope analyzes Shipping and Logistics Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Shipping and Logistics Market

According to Cognitive Market Research, the global Shipping and Logistics Market size was estimated at USD XX Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031. In North America, the shipping and logistics market is driven by several factors. These include the region's robust economic activity, extensive trade networks, and growing e-commerce sector. Additionally, the adoption of advanced technologies such as IoT, AI, and blockchain enhances operational efficiency and customer service. Moreover, increasing consumer expectations for fast and transparent delivery services contribute to the market's growth. Regulatory developments and sustainability initiatives also shape the industry landscape, influencing companies' strategies and investments to meet evolving market demands.

• According to Cognitive Market Research, the US had a major share in the Shipping and Logistics Market with a market size of USD XX million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. These drivers, operating trucks, vans, and other vehicles, form the backbone of the transportation sector, ensuring timely delivery of cargo to destinations nationwide.

• The Canada Shipping and Logistics Market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. Challenges such as driver shortages, regulatory compliance, and fluctuating fuel prices persist, prompting industry stakeholders to focus on driver recruitment.
• The Mexico Shipping and Logistics Market is projected to grow at a CAGR of 9.7% during the forecast period, reaching a market size of USD XX million in 2024.

 

Europe Shipping and Logistics Market

According to Cognitive Market Research, with a market value of USD XX million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD XX million. Europe, the shipping and logistics market thrives amidst dynamic regulatory landscapes and evolving consumer demands. Key drivers shaping the industry include the continent's strategic geographic position, fostering extensive trade networks, and the rapid growth of e-commerce, driving demand for efficient last-mile delivery solutions. Moreover, advancements in technology, such as automation and digitization, enhance operational efficiency and customer experience. To stay competitive, companies in Europe focus on sustainability initiatives, innovation, and regulatory compliance to navigate complexities and seize growth opportunities.

• The United Kingdom Shipping and Logistics Market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 10.3% during the forecast period. Companies are implementing measures to attract and retain drivers, including competitive wages, improved working conditions, and training programs.
• The France Shipping and Logistics Market is projected to grow at a CAGR of 8.7% during the forecast period, reaching a market size of USD XX million in 2024.
• According to Cognitive Market Research, the size of the Germany Shipping and Logistics Market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 9.7% during the forecast period. The industry faces challenges, including driver shortages due to demographic shifts and regulatory constraints.
• The Italy Shipping and Logistics Market is projected to grow at a CAGR of 8.9% during the forecast period and reach a market size of USD XX million in 2024.
• The Russian shipping and Logistics Market is projected to grow at a CAGR of 8.5% during the forecast period, reaching a market size of USD XX million in 2024.
• The Spanish shipping and Logistics Market is projected to grow at a CAGR of 8.6% during the forecast period and reach a market size of USD XX million in 2024.
• The Luxembourg Shipping and Logistics Market is projected to grow at a CAGR of 9.6% during the forecast period, reaching a market size of USD XX million in 2024.
• The Portugal Shipping and Logistics Market is projected to grow at a CAGR of 9.3% during the forecast period and reach a market size of USD XX million in 2024.
• The Greece Shipping and Logistics Market is projected to grow at a CAGR of 9.8% during the forecast period, reaching a market size of USD XX million in 2024.
• The rest of Europe's Shipping and Logistics Market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD XX million in 2024.

 

Asia Pacific Shipping and Logistics Market

According to Cognitive Market Research, the global Shipping and Logistics Market size was estimated at USD XX Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.0% from 2024 to 2031. In the Asia-Pacific region, the shipping and logistics market is driven by several factors. Rapid economic growth, particularly in emerging markets like China, India, and Southeast Asia, fuels demand for efficient transportation and distribution services. The region's strategic location as a global trade hub enhances its significance for maritime and air freight operations. Additionally, infrastructural developments, technological advancements, and increasing e-commerce penetration contribute to the market's growth trajectory, presenting opportunities for both domestic and international logistics providers.

• According to Cognitive Market Research, the China Shipping and Logistics Market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 12.5% during the forecast period. The country's robust manufacturing sector, expansive infrastructure investments, and strategic geographic location contribute to its prominence in global trade.
• The Japan Shipping and Logistics Market is projected to grow at a CAGR of 11.5% during the forecast period, reaching a market size of USD XX million in 2024.
• The India Shipping and Logistics Market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 14.8% during the forecast period. With a vast geographical landscape and diverse transportation infrastructure, the sector faces challenges such as inadequate last-mile connectivity, regulatory complexities, and inefficient port operations.
• The South Korean Shipping and Logistics Market is projected to witness growth at a CAGR of 12.1% during the forecast period, with a market size of USD XX million in 2024.
• The Australian Shipping and Logistics Market is projected to grow at a CAGR of 12.7% during the forecast period, reaching a market size of USD XX million in 2024.
• The Southeast Asia Shipping and Logistics Market is projected to grow at a CAGR of 14.0% during the forecast period and reach a market size of USD XX million in 2024.
• The Rest of the Asia Pacific Shipping and Logistics Market is projected to witness growth at a CAGR of 12.8% during the forecast period, with a market size of USD XX million in 2024.

 

South America Shipping and Logistics Market

According to Cognitive Market Research, the global Shipping and Logistics Market size was estimated at USD XX Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031. In Latin America, the shipping and logistics market is driven by several factors. Rapid urbanization, expanding e-commerce, and increasing trade volumes are primary drivers, leading to a growing demand for efficient supply chain solutions—infrastructure development initiatives, such as port expansions and transportation upgrades, further fuel market growth. Additionally, regulatory reforms aimed at improving trade facilitation and reducing bureaucratic hurdles contribute to market expansion. These dynamics present opportunities for both domestic logistics providers and international players seeking to capitalize on the region's evolving logistics

• According to Cognitive Market Research, the Brazil Shipping and Logistics Market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 11.0% during the forecast period. To address this issue, companies are investing in driver retention strategies, technology-driven solutions like route optimization, and partnerships with local communities.
• The Argentina Shipping and Logistics Market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 11.3% during the forecast period. Despite these challenges, drivers play a critical role in navigating these complexities, ensuring goods are delivered timely and efficiently, albeit amidst considerable challenges.
• The Colombia Shipping and Logistics Market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD XX million in 2024.
• The Peru Shipping and Logistics Market is projected to grow at a CAGR of 10.6% during the forecast period and reach a market size of USD XX million in 2024.
• The Chile Shipping and Logistics Market is projected to grow at a CAGR of 10.7% during the forecast period, reaching a market size of USD XX million in 2024.
• The Rest of Latin America's Shipping and Logistics Market is projected to grow at a CAGR of 9.5% during the forecast period, reaching a market size of USD XX million in 2024.

 

Middle East and Africa Shipping and Logistics Market

According to Cognitive Market Research, the global Shipping and Logistics Market size was estimated at USD XX Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031. Middle East and Africa, the shipping and logistics market is driven by several factors. Economic growth and increasing international trade are propelling demand for efficient transportation and distribution services. Strategic geographic location, particularly in the Gulf Cooperation Council (GCC) countries, enhances the region's significance as a global logistics hub. Moreover, infrastructure development initiatives, such as port expansions and transport network enhancements, further stimulate market growth, attracting investments and fostering innovation in supply chain management technologies.

• According to Cognitive Market Research, the GCC Countries Shipping and Logistics Market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 11.5% during the forecast period. The region's strategic location as a global trade hub enhances its significance in the shipping industry.
• The Egypt Shipping and Logistics Market is projected to grow at a CAGR of 11.0% during the forecast period and reach a market size of USD XX million in 2024.
• The South Africa Shipping and Logistics Market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD XX million in 2024. The country's logistics sector relies heavily on a skilled workforce of drivers who navigate diverse terrains and logistical challenges.
• The Turkey Shipping and Logistics Market is projected to grow at a CAGR of 10.2% during the forecast period, reaching a market size of USD XX million in 2024.
• The Nigeria Shipping and Logistics Market is projected to grow at a CAGR of 9.8% during the forecast period, reaching a market size of USD XX million in 2024.
• The Rest of the MEA Shipping and Logistics Market is projected to grow at a CAGR of 9.7% during the forecast period, reaching a market size of USD XX million in 2024.

 

Shipping and Logistics Market Analysis

Shipping and Logistics Type Segment Analysis

Second-party logistics involves the direct relationship between a company and its shipping providers or carriers. This typically includes activities such as transportation, warehousing, and freight forwarding, with the company managing these functions internally or through contracted services.

Third-party logistics (3PL) refers to outsourcing these logistics functions to specialized service providers. 3PL providers offer a comprehensive range of services, including transportation, warehousing, inventory management, and distribution, allowing companies to focus on their core business activities while benefiting from the expertise and efficiency of external logistics partners.

• Second-party logistics (2PL)
• Third-party logistics (3PL)
• Fourth-party logistics (4PL)

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Shipping and Logistics Industry. Request a Free Sample PDF!

Shipping and Logistics Application Segment Analysis

The Manufacturing Industry primarily deals with the transportation of raw materials, components, and finished products within its supply chain. This segment often requires specialized handling and expedited delivery to meet production schedules.

The Consumer Goods Industry focuses on distributing finished products directly to end consumers through various channels such as retailers, e-commerce platforms, and wholesalers. This segment demands efficient inventory management, last-mile delivery solutions, and a robust network to cater to diverse consumer demands.

• Manufacturing Industry
• Consumer Goods Industry
• Automotive Industry
• Food and Beverages Industry
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Shipping and Logistics Product type Segment Analysis

Freight and shipping services involve the transportation of goods via various modes such as air, sea, rail, or road, catering to both domestic and international supply chains. This segment includes freight forwarding, warehousing, customs brokerage, and related services, crucial for facilitating the movement of goods efficiently and cost-effectively across borders and regions.

Materials handling focuses on the equipment, systems, and services involved in the movement, storage, control, and protection of materials throughout the manufacturing, distribution, consumption, and disposal stages. This segment encompasses conveyors, cranes, forklifts, automated storage and retrieval systems (AS/RS), and other technologies aimed at optimizing the handling and flow of materials within facilities and supply chains.

• Freight and Shipping
• Materials Handling
• General Logistics
• Express Shipping
• Warehouse and Storage
• Internet Purchasing

Shipping and Logistics End User Segment Analysis

Residential shipping primarily serves individual consumers, encompassing parcel deliveries, household goods transportation, and personal vehicle shipping. This segment is characterized by smaller shipment sizes, diverse delivery locations, and a focus on meeting individual needs efficiently.

Commercial logistics caters to businesses and involves the transportation of bulk goods, inventory management, and supply chain optimization. It demands tailored solutions to handle large volumes, optimize routes, and ensure timely deliveries, often involving complex networks and specialized services such as warehousing and distribution.

• Residential
• Commercial
• Industrial

Shipping and Logistics Route Types Segment Analysis

Airways represent a fast and efficient mode suitable for time-sensitive shipments, high-value goods, and long-distance international transport. This segment is characterized by its speed, reliability, and global connectivity, making it preferred for perishable goods, high-tech products, and urgent deliveries.

Railways provide a cost-effective and environmentally friendly alternative, especially for large-volume cargo and domestic transportation. Railways excel in transporting bulk goods, heavy machinery, and commodities over land, offering competitive pricing and sustainability advantages.

• Airways
• Railways
• Roadways
• Waterways
• Others

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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