According to our latest market study on "Event Logistics Market Forecast to 2031 - Global Analysis - by Type (Inventory Management, Delivery Management, Freight Forwarding, Pallets and Packaging Services, Others), and End User (Media and Entertainment, Sports Events, Corporate Events and Trade Fairs, Cultural Events, Others), and Geography," the market is expected to reach US$ 122.20 billion by 2031 from US$ 75.86 billion in 2023. It is expected to register a CAGR of 6.1% from 2023 to 2031.
Several companies are focusing on event logistics services to cater to the requirements of end users such as media & entertainment, sports events, corporate events & trade fair/shows, and cultural events. A majority of companies have been focusing on expanding their service range in inventory management, freight forwarding, and focusing on adopting green logistics to remain competitive in the market. For instance, in 2023, DHL Group introduced DHL Supply Chain's Green Transport Policy, which became a part of the company's investment in decarbonized transport solutions. The continuous development and innovation in logistic services such as inventory management, distribution, pallets & packaging, freight forwarding, and aftermarket services are anticipated to boost the global event logistics market growth. DSV A/S; CH Robinson; KUEHNE + NAGEL; CEVA Logistics; DB SCHENKER; DHL International GmbH; FedEx; UPS; XPO Logistics, Inc.; and GEODIS are among the major event logistics service providers in the world.
Economic factors such as interest rate, inflation rate, foreign exchange rate, and economic cycle determine the investment and demand for event logistics globally. Recession after the COVID-19 pandemic in Europe, North America, and other regions also affected the sponsored events and decreased profit margins, which further affected event logistics market growth globally.
Due to economic instability, there is an impact on the exchange rates, tax policies, and an increase in the cost of raw materials. Such instances are expected to result in the cancellation of events and affect the growth of the event logistics market in the region.
Key Findings of Market Study:
The event logistics market is segmented into North America, Europe, Asia Pacific, and Rest of the World (Middle East & Africa and South America). Europe and Asia Pacific are major regions in the event logistics market globally. Currently in Europe, Further, the rising geopolitical tensions among the countries and ongoing war between Russia-Ukraine has also impacted the international business operations that has also hampered the corporate events sector along with the sports organizing industry. His has impacted the event logistics market in 2023 and is likely to show some negative impact in the 2024 as well. Such factors have been impacting the growth for event logistics in the European region.
Germany is a hot spot for several major event logistics industries in Europe. Kuehne+Nagel, DHL, DEKRA, GEODIS, HEED-Logistics, and Hamburg Messe + Congress are among the key vendors operating in the event logistics market in Germany. With over 4 million businesses operating across the country, a large number of trade fairs and corporate events are conducted annually at international levels. Companies operating in the German event logistics market further focus on increasing their footprint through partnerships and collaborations with different event organizers to remain competitive. For instance, in March 2023, The International Bobsleigh and Skeleton Federation (IBSF) signed a multi-year contract with DHL Global Event Logistics to provide organizational support for the governing body's events. Similarly, in October 2023, DHL entered into a multi-year agreement with the International Luge Federation (FIL) to offer logistical support for athletic equipment, marketing, and hospitality materials.
Moreover, the UK has a strong logistics sector and great potential for the event industry. Most of the major event organizing and logistics companies, such as Kuehne+Nagel, DHL, and Clarion Events, have their bases across the country, which is one of the factors driving the growth of the event logistics market in the UK. Further, the rising number of developments in the UK event logistics industry is another major factor supporting the event logistics market growth. For instance, in January 2024, Clarion Events announced that it had signed a long-term partnership agreement with Kuehne+Nagel as its official global event logistics partner. Similarly, in February 2024, Air Business, an event logistics company, announced a wider expansion of its global event logistics services. In addition, in April 2023, Event Leaders Exchange (ELX), a peer-to-peer community of senior event professionals, and ExCeL London unveiled a new strategic partnership. Such developments have been catalyzing the event logistics market size across the country.
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