Contract Logistics market grows double digit in 2005
published: cw 23, 2006 in Logistics & ShippingThe global contract logistics market grew by 10.3% in 2005 to ?117bn according to the latest report published by Transport Intelligence.
The research undertaken for Global Contract Logistics 2006 showed that all regions contributed to the double digit growth, which confounded many expectations in the industry. The fastest growing market was China which soared by 31% as out-sourcing and increased volumes buoyed this nascent market. However, even more established markets, such as the United States, also experienced exceptional rates of development driven by the strong economy and distribution of imported consumer goods.
Europe, which has been affected by economic slowdown in the past few years, had the weakest expansion but still managed to grow in the high single digits. Markets, such as Germany, benefited from out-sourcing such as the major deal agreed between DHL and retailer KarstadtQuelle which ran into many hundreds of millions of euros.
The next few years will see continued strong growth in the global contract logistics industry, increasingly influenced by the Asia Pacific region. There is little sign that the impact of the key drivers of the market (eg US, China economic growth; out-sourcing; globalisation) will diminish, resulting in further opportunities for logistics service providers. Added to this, Japan’s economy looks set to re-awake as it becomes increasingly liberalised. Growth in the Indian market will also become an important factor. Consequently Transport Intelligence forecasts that the global market will grow at a Compound Annual Growth Rate (CAGR) of 13.8% between 2005 and 2009.
TI?s benchmark report, Global Contract Logistics 2006, combines the in-depth analysis of industry-transforming trends, such as out-sourcing and collaboration, with comprehensive market sizing, forecasting and out-sourcing penetration rates on a global, European, US and Asia Pacific basis. It also includes market shares and rankings for the world?s leading contract logistics players as well as information on their growth rates and profitability. In addition the report includes over 20 profiles of the largest companies looking specifically at their financial performance over the past few years.
Source: Transport Intelligence
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