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Report Overview
The global third-party logistics (3PL) market reached a value of nearly USD 1061.95 Billion in 2023. The market is assessed to grow at a CAGR of 5.30% during the forecast period of 2024-2032 to attain a value of around USD 1690.28 Billion by 2032. The expanding cross-border trade, the increasing volume of shipments, the flourishing e-commerce sector, the rise of omnichannel retailing, and the growing demand for customised logistics services are driving the market.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The increasing volume of shipments is surging the demand for specialised logistics services tailored to diplomatic shipments, international relocation, and travel-related logistics. 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. This highlights the growing demand for inventory management, warehouse space, and secure storage solutions as well as efficient supply chain management. 3PL providers are expanding their offerings to include long-term storage solutions and investing in advanced technologies to meet the growing demand for international and relocation-related logistics.
- Governments are promoting the adoption of logistics information platforms to streamline their logistics infrastructure with global trade networks and promote innovation and economic growth. For instance, the Chinese government promotes LOGINK adoption by global ports, freight carriers, forwarders, and other countries by offering it for free. This is prompting 3PL providers to integrate logistics information platforms to streamline their processes, ranging from inventory management to shipment tracking, reducing manual work, minimising errors, and improving operational efficiency.
- With logistics contributing to a significant portion of a country’s GDP, the demand for 3PL services such as transportation, warehousing, customs clearance, and inventory management, by businesses to streamline supply chains, reduce costs, and improve operational efficiency is increasing. The Indian logistics sector represents approximately 14% of the country’s GDP. Significant investments in infrastructure such as airports, roads, railways, and ports are prompting 3PL providers to offer more competitive services, optimise operations, and enhance their service offerings.
Global Third-Party Logistics (3PL) Market Regional Insights
North America Third-Party Logistics (3PL) Market Overview
The rapid growth of the e-commerce sector is fuelling the third-party logistics (3PL) market expansion. With the increasing demand for rapid delivery solutions, retailers and manufacturers are partnering with 3PL providers for fast and efficient delivery solutions. In Q3 2024, the retail e-commerce sales in the United States reached USD 1,849.9 billion, a 1.3% (±0.2) surge from Q2 2024. The expansion of 3PL facilities in the region is aiding the market development. In November 2023, Innomar Strategies announced the opening of a new, 92,000-square-foot, and GMP-compliant facility third-party logistics (3PL) centre in Halton Hills, Ontario, expanding its capacity to handle and store medical devices and pharmaceutical products.
| CAGR 2024-2032 - Market by | Country |
| India | 6.3% |
| Saudi Arabia | 5.8% |
| China | 5.7% |
| Mexico | 5.6% |
| UK | 5.2% |
| USA | 5.0% |
| Canada | XX% |
| Germany | XX% |
| France | XX% |
| Italy | XX% |
| Japan | XX% |
| Australia | XX% |
| Brazil | XX% |
Europe Third-Party Logistics (3PL) Market Dynamics
The increasing globalisation of trade and surging cross-border trade activities in the region are driving the third-party logistics (3PL) market development. In 2023, trade in goods between EU countries was valued at EUR 4,102 billion in terms of exports, with Germany (21%) boasting the highest level of intra-EU trade, followed by the Netherlands (15%) and France (12%). Furthermore, the growing focus on sustainability in the region is pushing 3PL providers to provide carbon-neutral transportation solutions, green logistics, and sustainable warehouse management. With the increasing emphasis on carbon-neutral supply chains, European businesses are collaborating with 3PL providers to meet environmental sustainability goals.
Asia Pacific Third-Party Logistics (3PL) Market Outlook
The third-party logistics (3PL) demand forecast in the Asia Pacific is being fuelled by the increasing manufacturing and export activities, especially in countries such as India, Vietnam, and China, surging the demand for international shipping, logistics, and warehousing services. The increasing adoption of advanced solutions by 3PL providers to automate warehouse operations is driving the market. In February 2023, Prozo launched the Mini-Load Automated Storage and Retrieval System (mini-load ASRS), becoming the first Indian 3PL company to automate its warehouses and fulfil B2C and D2C orders in a faster and more efficient manner around the clock.
Opportunities in the Latin America Third-Party Logistics (3PL) Market
As per the third-party logistics (3PL) market regional analysis, the expansion of the online retail sector, especially in countries such as Brazil, Mexico, and Argentina, is surging the demand for efficient logistics solutions such as inventory management, warehousing, and last-mile delivery. Latin America has established its position as a significant trading partner for various economies, particularly in sectors such as automotive, agriculture, and electronics. This is surging the demand for cross-border logistics services. In addition, rapid infrastructure development activities of ports, highways, and airports are creating lucrative opportunities for 3PL providers to integrate into the supply chain by offering efficient transportation, warehousing, and distribution services.
Middle East and Africa Third-Party Logistics (3PL) Market Drivers
The Middle East, especially countries such as Saudi Arabia and the UAE, is strategically positioned as a trade hub connecting Europe, Africa, and Asia. Robust transportation infrastructure, including airports, ports, and rail systems, is boosting the demand for 3PL services. Moreover, the robust growth of the e-commerce sector, buoyed by evolving customer behaviours and high internet penetration, is increasing the demand for last-mile delivery and efficient warehousing solutions. In addition, with companies in the region seeking ways to optimise supply chains to reduce costs, manage inventory, and improve delivery times, 3PL providers are offering advanced technologies such as warehouse automation, IoT, and artificial intelligence.
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
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1061.95 Billion.
The third-party logistics (3PL) market is assessed to grow at a CAGR of 5.30% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 1690.28 Billion by 2032.
The market key players are DHL Global Forwarding, Kuehne + Nagel International AG, DB Schenker, DSV A/S, 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.
Based on end use, the global third-party logistics market is broken down into food and beverage, automotive, consumer and retail, IT and telecom, healthcare, energy, and others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124