CHICAGO, May 1, 2020 /PRNewswire/ -- The report titled, "COVID-19 Impact on Logistics & Supply Chain Industry Market by Industry Verticals (Automotive, FMCG, Healthcare, Energy & Utilities, Industrial Machinery & Equipment), Mode of Transport (Roadways, Railways, Airways, Maritime), Region - Global Forecast to 2021", published by MarketsandMarkets™, states that the COVID-19 impact on the global logistics market size is estimated to result in revenues worth USD 2,734 billion in 2020. The market is projected to reach USD 3,215 billion by 2021, at a Y-O-Y growth of 17.6%.
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18 – Tables
06 – Figures
60 – Pages
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FMCG is expected to have the largest sizing in the global Logistics Market during the forecast period
FMCG companies are continuously tracking the current situation and are coming up with new strategies to contain the pandemic. The agriculture sector has been exempted from the restrictions laid by the countries. This has ensured sufficient supplies of food and other daily needs products. E-groceries continue to meet the increasing demand for daily supplies by consumers. Amid the COVID-19 pandemic, Walmart Grocery application hit all-time high downloads in the US.
Railways are estimated to have the second-largest Logistics Market share, by mode of transport
Like roadways, railway transport too is relatively less affected when compared with waterways and airways. Amid the lockdown, countries have made sure that the mobility of doctors, sanity workers, and government employees is not hampered. The transport of essential commodities through rail has also allowed countries to meet their citizens demands during the pandemic. For example, according to the Indian Railways, on an average, around 20,000 wagons of coal; 1,700 wagons of petroleum products; and 25,000 wagons are being loaded daily with essential commodities such as food grains, salt, edible oil, sugar, milk, fruits, and vegetables.
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Asia Pacific to have the largest Logistics Market size during the forecast period
Asia Pacific is expected to have the largest market sizing as the region has taken stringent measures to contain the virus. China has started to recover from the COVID-19 pandemic faster than any other country. Only some provinces of the entire country are in lockdown after the second wave of COVID-19.
The World Health Organization has appreciated India's control over the spread of the pandemic. This has allowed the logistics and supply chain companies to meet consumer demands during the pandemic situation. The supply of vital products in Singapore, South Korea, and Japan has also regained normalcy. Thus, the Asia Pacific region is expected to show positive signs in the near future as the supply chain industry recovers gradually.
The Logistics Market is dominated by global players and comprises several regional players. Some of the key players in the logistics and supply chain industry are DHL (Germany), UPS (US), FedEx (US), Kuehne+Nagel (Switzerland), CEVA Logistics (Switzerland), DB Schenker (Germany), SNCF (France), XPO Logistics (US), Kenco Group (US), and Hitachi Transport System (Japan).
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