Global Third-Party Logistics (3PL) Market Report and Forecast 2024-2032

Third-Party Logistics (3PL) Market Size

The global third-party logistics (3PL) market reached a value of approximately USD 1,061.95 billion in 2023. The market is projected to grow at a CAGR of 5.30% between 2024 and 2032, reaching a value of around USD 1,685.54 billion by 2032.

Third-Party Logistics (3PL) Market Outlook

• The U.S. Department of State reports yearly totals of 30,000 shipments, 26 million pounds of stored household effects, and 50,000 travel transactions.

• China's government promotes LOGINK adoption by global ports, freight carriers, forwarders, and other countries by offering it for free.

• NITI Aayog reported that in 2022, India's logistics sector had reached a market value in excess of USD 15 billion.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Third-Party Logistics (3PL) Market Growth

3PL providers offer a range of logistics solutions tailored to meet the needs of businesses, allowing companies to focus on their core competencies while outsourcing complex logistics operations. 3PL companies help with customs clearance and documentation for international shipments. They manage the movement of goods across borders, ensuring adherence to international regulations. Moreover, Increased spending on transportation and warehousing is a key driver for the growth of the 3PL market, as businesses seek efficient, scalable, and cost-effective logistics solutions to meet the demands of a dynamic and competitive marketplace.

According to the National Freight and Supply Chain Strategy, freight volume in Australia is expected to grow by over 35 per cent between 2018 and 2040, increasing by 270 billion tonnes. This indicates the growth of the third-party logistic market in the country.

Key Trends and Developments

E-commerce expansion, technological advancements, focus on sustainability, and collaborative partnerships are the major trends impacting global third-party logistics (3PL) market growth.

May 28, 2024

Reliance Industries began constructing India’s first Multimodal Logistics Park at Mappedu near Chennai, aiming to provide efficient, cost-effective logistics services like cargo handling, distribution, intermodal transfer, sorting, packing, and repacking.

February 2024

Bengaluru-based e-commerce platform Meesho launched Valmo, a logistics marketplace aimed at democratizing third-party logistics and cutting delivery costs, particularly benefiting smaller players.

January 20, 2024

A new international trade and logistics centre started operating on the Kazakh-Chinese border near Dostyk village, aiming to enhance cross-border logistics infrastructure and increase Alakol customs post capacity.

August 22, 2023

CEVA Logistics acquired a 96% stake in Stellar Value Chain Solutions, a tech-driven third-party warehouse and distribution service provider, from an affiliate of private equity firm Warburg Pincus and other entities.

E-commerce Expansion

3PL providers are leveraging technology and infrastructure to meet the unique requirements of online retail, including last-mile delivery and reverse logistics.

Technological Advancements

Innovations such as automation, artificial intelligence, IoT, and blockchain are transforming the logistics landscape. These technologies enhance efficiency, visibility, and accuracy in supply chain operations.

Focus on Sustainability

3PL providers are implementing eco-friendly practices, such as energy-efficient transportation, green packaging, and reverse logistics for recycling and waste reduction.

Collaborative Partnerships

Collaborations between 3PL providers and other stakeholders, including shippers, carriers, technology firms, and industry associations, are fostering innovation and driving continuous improvement in logistics processes and services.

Third-Party Logistics (3PL) Market Trends

The demand for third-party logistics (3PL) is increasing due to the rising specialized logistics services, such as temperature-controlled transportation for perishable goods or hazardous material handling for chemicals. 3PL providers offer specialized expertise and infrastructure to cater to these unique requirements, making them indispensable partners for businesses in such sectors.

There is a growing emphasis on real-time visibility and transparency across the supply chain. 3PL providers are offering advanced tracking and monitoring solutions, allowing businesses to optimize inventory management, improve forecasting accuracy, and enhance customer service.

Third-Party Logistics (3PL) Industry Segmentation

“Third-Party Logistics (3PL) Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Service

• Domestic Transportation

• International Transportation

Market Breakup by End Use

• Food and Beverage

• Automotive

• Consumer and Retail

• IT and Telecom

• Healthcare

• Energy

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Leading Manufacturers in the Third-Party Logistics (3PL) Market

The companies  provide various solutions including sea freight, rail freight, logistic solutions, transport, digital service hub and others.

DHL Global Forwarding: Established in 1815 and based in Bonn, North Rhine-Westphalia. DHL is the world’s leading logistics company. The company’s divisions include DHL Express, DHL Global Forwarding, DHL Freight, and others.

Kuehne + Nagel International AG: Founded in 1890 and based in Schindellegi, Schwyz. The Group dominates global air and sea logistics and holds significant market shares in road and contract logistics.

DB Schenker: Established in 1872 and is headquartered in Essen, Germany. The businesses of the company include transport, contract logistics, supply chain solutions, Industry solutions, and digital services hub.

DSV A/S: Founded in 1976 and is headquartered in Copenhagen (Denmark). The solutions provided by the company include air freight, sea freight, road transport, rail freight, courier, logistic solutions, and others.

Other global third-party logistics (3PL) market key players are Sinotrans Changhang Group, Panalpina, Nippon Express Co., Ltd., Expeditors, UPS Supply Chain Solutions Inc., Hitachi Transport System, C.H. Robinson, Hellmann Worldwide Logistics SE & Co. KG, Bolloré Logistics, CEVA Logistics, and Yusen Logistics Co., Ltd. among others.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Third-Party Logistics (3PL) Market Analysis by Region

North America is the frontrunner in driving the global 3PL market growth. This is fueled by the e-commerce boom, expanding economies in the region, and government support for logistics infrastructure. Additionally, North America tech adoption in logistics is creating a dynamic environment for 3PL providers to thrive.

According to USDT, in the United States, by 2045, the Demand for freight is expected to grow by about 40 per cent which will further boost the third-party logistics (3PL) market growth.

Increasing international trade in Europe has amplified the demand for efficient transportation services to move goods across borders. 3PL providers facilitate the complex logistics networks required for global trade, ensuring timely and cost-effective delivery.

This growing demand is reflected in data from Statistics Poland, which shows the volume of goods transported increased from 2,253,377 thousand tonnes in 2021 to 2,277,093 thousand tonnes in 2022. Further, indicates the rise in the demand for the third-party logistics (3PL) market.

Key Highlights of the Report

Third-Party Logistics (3PL) Market Report Snapshots

Third-Party Logistics (3PL) Market Size

Third-Party Logistics (3PL) Market Growth

Third-Party Logistics (3PL) Market Trends

Third-Party Logistics (3PL) Manufacturers

Third-Party Logistics (3PL) Market Regional Analysis