Hazardous Goods Logistics Market Research Report 2024-2033 | Size, Share, and Overview Insights

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Overview and Scope

Hazardous goods logistics are specialized processes and procedures that involve the transportation, storage, handling and management of commodities that are considered hazardous or dangerous due to their potential to cause harm to individuals, property, or the environment. Hazardous goods logistics help ensure that materials are transported to production facilities safely and the waste products are managed and disposed of properly.

Sizing and Forecast

The hazardous goods logistics market size has grown strongly in recent years. It will grow from $215.63 billion in 2023 to $233.66 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to growth of industrialization, growing globalization, increasing awareness of the importance of safety and security in hazardous goods, .

The hazardous goods logistics market size is expected to see strong growth in the next few years. It will grow to $311.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to e-commerce growth, continued growth of the global economy, supply chain resilience, environmental sustainability. Major trends in the forecast period include digitization and blockchain, hazardous materials packaging innovation, collaborative partnerships, multimodal transportation, emergency response preparedness.

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Segmentation & Regional Insights

The hazardous goods logistics market covered in this report is segmented –

1) By Product: Flammable; Explosive; Radioactive; Bio-Hazardous; Other Products

2) By Business Type: Transportation; Warehousing; Value-Added Services

3) By Operation: Seaways; Roadways; Railways; Airways; Storage And Services

4) By Application: Industrial; Healthcare; Agriculture; Other Applications

North America was the largest region in the hazardous goods logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The rise in the oil and gas industry is expected to propel the growth of the hazardous goods logistics market going forward. The oil and gas industry refers to the sector of the global economy involved in the exploration, extraction, production, refining, distribution and marketing of hydrocarbon resources, primarily crude oil and natural gas. Hazardous goods logistics are extensively used in the oil and gas industry due to the nature of the materials involved in exploration, production, refining and distribution processes. For instance, in June 2022, according to The Office for National Statistics, a UK-based government department, gas imports into the UK reached $24.92 billion in 2021, a significant rise of 312% from $6.10 billion in 2020. Moreover, the UK gas exports reached $4.32 billion in 2021, a 167% increase from $1.65 billion in 2020. Therefore, the rise in the oil and gas industry is driving the growth of the hazardous goods logistics market.

Key Industry Players

Major players in the hazardous goods logistics market are Deutsche Post DHL Group, YRC Worldwide Inc., FedEx Corporation, A.P. Moller – Maersk, Kühne + Nagel International AG, DSV A/S, United Parcel Service Inc. (UPS), DB Schenker, C.H. Robinson Worldwide Inc., Nippon Express Co.Ltd., Expeditors International of Washington Inc., Panalpina Welttransport Holding AG, Geodis Logistics LLC, Kerry Logistics Network Limited, Bollore Logistics, XPO Logistics Inc., Kawasaki Kisen Kaisha Ltd., Hitachi Transport System Ltd., Hellmann Worldwide Logistics SE & Co. KG, Yusen Logistics Inc., Nishi-Nippon Railroad Co. Ltd., MOL Logistics Co. Ltd., Agility Public Warehousing Company K.S.C.P., Ceva Logistics, Toll Group, Rhenus Logistics S.A., DGD Transport LLC, Sagawa Express Co. Ltd.

The hazardous goods logistics market report table of contents includes: