The dangerous/ hazardous goods logistics market is witnessing rapid traction. The growth is majorly led by the rising activities of hazardous materials handling, storing, and transportation. With improving amendments to the hazardous material regulations (HMR) and Dangerous Goods Regulations (TDG Regulations), the market is estimated to grow exponentially in the next few years.
Market Research Future (MRFR) states that the global dangerous/ hazardous goods logistics market is estimated to grow at a 6.15% CAGR during the review period (2020 – 2028). Besides, rising automation across the logistic industry has positively impacted the market growth.
Logistic industries worldwide are realizing the digitization and automation benefits. Moreover, technological advances and production & manufacturing process upgrades have scaled market revenues. Also, the rising focus on improving the productivity, performance, and security of logistics-intensive businesses bolsters market size.
Furthermore, the increasing adoption of dangerous/ hazardous goods logistics to execute shipments and rates, audit, and pay transportation invoices, push the market shares. The rise in global trade and imports & exports of dangerous materials substantiate the market revenues.
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Dangerous/ Hazardous Goods Logistics Market – Segments
The market is segmented into services, destinations, and regions. The service segment is bifurcated into transportation, warehousing & distribution, value-added services, and others. The destination segment is bifurcated into domestic and international. The region segment is sub-segmented into Europe, North America, Asia Pacific, and the Rest-of-the-World.
Dangerous/ Hazardous Goods Logistics Market – Geographical Analysis
Europe accounts for the largest hazardous goods logistics market shares. Road freight transport is the primary mode of transport in the region. The transport of dangerous goods (DG) in the European Union has been growing year by year, contributing to the hazardous goods logistics market size.
Flammable liquids take over more than half of the total market shares, followed by gases and corrosives in terms of the commodity. Besides, rising demand for explosive, flammable, radioactive, oxidizing, biohazardous, corrosive, pathogenic, asphyxiating, and
toxic or allergenic materials substantiates the hazardous goods logistics market value. The vast presence of dangerous material experts and stringent regulations for chemicals transport drive the hazardous goods logistics market industry in the region.
Dangerous/ Hazardous Goods Logistics Market – Competitive Landscape
Highly competitive, the hazardous goods logistics market appears to be fragmented due to the presence of several well-established players. Service providers focus on new service launches and geographical expansion initiatives.
Major Players:
Players leading the global dangerous & hazardous goods logistics market include Bollore Logistics (France), Ceva Logistics (Switzerland), DHL (Germany), DB Schenker (Germany), DSV (Denmark), Hellmann Worldwide Logistics (Germany), Toll Group (Australia), DGD Transport (US), YRC Worldwide Inc. (US), GEODIS (France), United Parcel Service (US), Rhenus Logistics (Germany), Kuehne + Nagel (Switzerland), Agility Logistics (Kuwait), and XPO Logistics (US), among others.
Industry/ Innovation/ Related News
Sept. 17, 2021 — CHCA International, the representative of global cargo handling operators and International Vessel Operators Dangerous Goods Association (IVODGA), announced
their collaboration on dangerous goods transport safety.
CHCA and IVODGA have agreed to work jointly to improve standards across numerous common safety issues affecting the transport of dangerous goods, consisting of the world’s ocean carrier membership. The collaboration would help produce clearly defined guidelines to best practice based on years of practical experience in handling dangerous goods.
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