Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 415 Billion | USD 1,126 Billion | 10.50% | 2024 |
FrequentlyAsked Questions
Third party logistics, or 3PL, are businesses that focus on specific components of a company's supply chain or perhaps the whole thing. This can include managing inventory, warehousing, processing orders, reverse logistics, shipping and receiving services, and managing a distribution center 3PL.
The North American third party logistics market is flourishing by several variables, including growing e-commerce, demand for last-mile capacity & fulfillment flexibility, automation, robotics, and warehouse technology adoption, cold chain & healthcare logistics growth, and others.
The regulatory and trade policy complexity poses a major challenge to industry expansion.
Based on the application, the retail segment is expected to dominate the industry growth during the projected period.
The increasing investment in advanced technology and the growing cold chain and healthcare logistics growth are impacting the industry growth over the projected period.
According to the report, North America third party logistics market size was worth around USD 415 billion in 2024 and is predicted to grow to around USD 1126 billion by 2034.
North America third party logistics market is expected to grow at a CAGR of 10.5% during the forecast period.
North America third party logistics industry growth is expected to be driven by the US region. It is currently the world’s highest revenue-generating market due to the growing e-commerce and presence of major players.
North America third party logistics market is dominated by players like JB Hunt Transport Services Inc, Burris Logistics, Yusen Logistics, CEVA Logistics, Nippon Express Holdings Inc, DSV AS, DB Schenker, Kuehne + Nagel International AG, C.H. Robinson Worldwide Inc, FedEx Corp, United Parcel Service Inc, Amazon, GXO Logistics, J.B. Hunt, Ryder System, Total Quality Logistics, DHL Supply Chain, Echo Global Logistics, Americold, Knight-Swift Transportation, Arrive Logistics and Universal Logistics Holdings, among others.
The market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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