Project Logistics Market size to increase by USD 59.41 billion during 2023-2028- Technavio

NEW YORK, Oct. 31, 2023 /PRNewswire/ — The Project Logistics Market size is expected to grow by USD 59.41 billion, accelerating at a CAGR of almost 4.3% during the forecast period. The market is experiencing significant growth driven by the increasing demand for project logistics within the automotive industry. The automotive supply chain operates on a global scale, requiring seamless logistics operations to deliver a wide range of pre-assembled products, from small components like screws to spare parts. This complexity is set as a substantial challenge in the automotive logistics sector. Automotive manufacturers and suppliers face elevated costs due to the ever-changing customer demands and competitive pressures in a dynamic environment. As the automotive sector expands, the number of production units is expected to rise. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

Project Logistics Market 2024 – 2028: Key Highlights:

The report recognizes the following as some of the key players in the project logistics market: Balmer Lawrie and Co. Ltd., C H Robinson Worldwide Inc., CEVA Logistics S A, CJ Darcl Logistics Ltd., CJ Logistics Corp., Crowley Maritime Corp., Deutsche Bahn AG, Deutsche Post AG, DSV AS, EMO Trans Inc., FedEx Corp., Hellmann Worldwide Logistics SE and Co KG, Kerry Logistics Network Ltd., Kintetsu World Express Inc., Kuehne Nagel Management AG, Nippon Express Holdings Inc., United Parcel Service Inc., XPO Inc., Mainfreight Ltd., and Fracht AGProject Logistics Market is fragmented in nature.Market to observe 3.2% YOY growth in 2024.

Project Logistics Market 2024 – 2028: Market Dynamics:

Trend

Digitization of logistics shaping market growth.Integration of digital practices enhances logistics operations in the supply chain.Internet of Things (IoT) plays a crucial role in logistics by facilitating automated data transfer.IoT benefits include warehouse management, resource monitoring, fleet route optimization, and cost reduction.Digitization offers connected warehouses, process efficiencies, improved customer interaction, and intelligent logistics solutions.Expected positive influence of logistics digitization on the global project logistics market during the forecast period.

Challenge

Stringent regulations for project logistics service providers impede market growth.Time and financial resources needed to navigate diverse country rules and international laws.Varying rules and regulations exist within countries, adding complexity.Increasing global regulations are expected to hinder market growth during the forecast period.

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

Project Logistics Market 2024 – 2028: Key Segments:

The market is segmented by End-user (Oil and gas/mining/and quarrying, Construction, Energy and power, and Others), Service (Transportation, Warehousing, and Inventory management and others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). 

Significant market share growth is anticipated in the oil and gas, mining, and quarrying segment during the forecast period. In 2022, this segment of end-users held a dominant position in the market and is expected to continue with steady growth. The driving force behind this trend is the increasing demand for oil and gas exploration and production projects.

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Related Reports:

Freight Logistics Market: The freight logistics market is estimated to grow at a CAGR of 5.74% between 2022 and 2027. The size of the market is forecast to increase by USD 319.65 million.

Third Party Logistics Software Market: The Third-Party Logistics Software Market is projected to grow by USD 579.54 million with a CAGR of 9.48% during the forecast period 2021 to 2026.

TOC:

Executive SummaryMarket LandscapeMarket SizingHistoric Market SizesFive Forces AnalysisMarket Segmentation by End-UsersMarket Segmentation by ServiceMarket Segmentation by GeographyCustomer LandscapeGeographic LandscapeDrivers, Challenges, & TrendsCompany LandscapeCompany AnalysisAppendix

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