europe third party logistics Market

The Europe Third party logistics market accounted for US$ 210.0 Bn in 2017 and is expected to grow at a CAGR of 5.2% over the forecast period 2018-2027, to account for US$ 312.5 Bn in 2027. Factors including benefits in managing seasonal variations of products driving the Europe Third party logistics market. Third party logistic (3PL) firms have diversified resource network which help core companies to expand quickly and efficiently in a cost-effective manner. Depending on the needs of core companies, 3PL possess the capability to scale labor, space, and transportation needs irrespective of the fluctuation in inventory. 3PL firms deliver adequate resources and flexibility in services even in case of seasonal inventory or new product release. Many of the businesses experience seasonal fluctuation in customer demand and it is essential to handle such swings in business in order to maintain efficiency in operations. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the Europe Third party logistics market.

The Europe Third party logistics market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the Europe Third party logistics market further. For instance, Third party logistics is becoming important for many companies with the increase in industrialization and growth in customer demand. However, in 2016, European Union has implemented the General Data Protection Regulation (GDPR), which is applicable from the 25th May 2018 and this regulation may act as a challenge for the logistic industry in order to manage the data. GDPR is European Union's act for data protection for the companies which are based in Europe as well as for the companies that are based outside Europe & doing business in collaboration with European based companies. These initiatives are implemented to enhance the technologies that positively impact on the Europe Third party logistics market. These initiative provide various benefits to the Third party logistics based companies located in the region thus, increasing the growth of Europe Third party logistics markets. This is further expected to provide the Europe Third party logistics market players to cope up with the rapidly transforming automotive industry. This initiative provides multiple benefits to the companies present in this region and thus increasing the growth of Europe Third party logistics market.

On the basis of mode of transport, the roadways segment is leading the Europe Third party logistics market. However, the airways segment are anticipated to grow at a highest CAGR. Airways is often considered as an alternative for other mode of transport especially in case of flooding and conflict situations. The factors that influence the selection for airway mode of transport are availability & cost of different types of aircraft, the distance to be travelled & possible constraints on certain airspace, and securing landing & over-flight permission. The air waybill is the most important document when transporting goods by airfreight which is the carrier's receipt for the contact of carriage and is commonly non-negotiable. Currently, the market players are looking ahead to support Europe Third party logistics industry by innovating advanced technological components.

The overall Europe Third party logistics market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe Third party logistics market. It also provides the overview and forecast for the Third party logistics market based on all the segmentation provided with respect to Europe region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Third party logistics industry. Some of the players present in Third party logistics market are Deutsche Post AG, Kuehne + Nagel International AG, Nippon Express Co., Ltd., DB Schenker, C.H. Robinson Worldwide, Inc., DSV A/S, XPO Logistics, Inc., Sinotrans Co., Ltd., Geodis, and UPS Supply Chain Solutionsamong others.