NEW YORK, July 16, 2021 /PRNewswire/ —
Technavio’s latest report on the third-party logistics market in China projects a growth of USD 73.78 billion, registering a CAGR of almost 7% during 2021-2025. According to the report, the Air Freight & Logistics industry will have a NEGATIVE impact due to the continued spread of the COVID-19 pandemic. Also, the report provides a detailed analysis of the pre-and post-impact of COVID-19 on businesses.
Based on the end-user, the manufacturing segment offered significant growth opportunities for market players in 2020. The growth of various industries including electronics, metal, wood, commercial machinery, paper, rubber, textile, tobacco, and transportation equipment played a crucial role in driving the growth of the segment.
Third Party Logistics Market in China: Major Growth Drivers
The following factors are expected to drive the growth of the market during the forecast period:
- Rise in e-commerce market demand
- Growing consumption of frozen and perishable foods
In addition, the report identifies the growing focus on the development of logistics-related infrastructure as a major trend in the third-party logistics market in China. The Chinese government is increasing its focus on the development of the logistics infrastructure in the country. The Government of China is also introducing several regulations to strengthen the logistics network. For instance, in 2020, The National Development and Reform Commission of China issued several regulatory changes. Some of these policies reduced transportation costs and standardized port charges. Many such developments are creating new opportunities for vendors.
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Third Party Logistics Market in China: Key Vendor Offerings
COSCO Shipping Co. Ltd.: The company offers 3PL services such as warehousing and freight forwarding.
CTSI Logistics: The company offers 3PL services such as warehousing, pick and pack, and cross-docking services, track, and trace services.
DEPPON LOGISTICS Co. Ltd.: The company offers 3PL services such as warehousing, Full Truckload, and Less-than-Truckload services.
FedEx Corp.: The company offers 3PL services such as warehousing, specific packaging, and tracking and tracing services.
Fulfillment Bridge: The company offers 3PL services such as warehousing, pick and pack, and cross-docking services.
Reasons to Buy Third-party Logistics Market in China Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist third-party logistics market growth in China during the next five years
- Estimation of the third-party logistics market size in China and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of third-party logistics market vendors in China
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Related Reports on Industrials Include:
Third-party Logistics Market in India – Third party logistics market in India is segmented by end-user (manufacturing, consumer goods, food and beverages, automotive, and others) and service (transportation services, warehousing and distribution services, and VAS).
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Third-Party Logistics Market in Europe – Third party logistics market in Europe is segmented by end-user (manufacturing, retail, consumer goods, healthcare, and others), service (transportation, warehousing and distribution, and others), and geography (Germany, France, UK, Italy, and rest of Europe).
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