Authored By: Sarah
15 Jul 2024

 Third-Party Logistics (3Pl) Market in US Size to grow by USD 120.1 billion between 2024-2028

According to a research report “ Third-Party Logistics (3Pl) Market in US” by End-user (Retail, Manufacturing, Automotive, Food and beverages, Others) Service (Transportation, Warehousing and distribution, Others) Geography (North America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 120.1 billion, at a CAGR of over 8.08% during the forecast period. In the context of the US market, the surge in cross-border trade has led to a significant increase in demand for third-party logistics (3PL) services. Cross-border trade, which involves the exchange of goods and services across international land borders, enables enterprises to broaden their reach in terms of geography and consumer demographics. This economic activity contributes positively to a country's economy, generating tax revenue and boosting the Gross Domestic Product (GDP). Consequently, an increasing number of manufacturers are expanding their cross-border trade activities, necessitating the need for reliable and efficient 3PL solutions. Furthermore, the development of new trade corridors and the expansion of existing ones are facilitating the growth of cross-border trade, creating more opportunities for 3PL providers in the US market. Trade corridors, which are integrated transport networks between geographical regions, play a crucial role in promoting economic development and enhancing the efficiency of international trade.

Browse market data tables, figures, and in-depth TOC on “Third-Party Logistics (3Pl) Market in US” by End-user (Retail, Manufacturing, Automotive, Food and beverages, Others) Service (Transportation, Warehousing and distribution, Others) Geography (North America) Global Forecast to 2028. Download Free Sample

 

By End-user, the Retail segment is projected to dominate the market size in 2024

In the US third-party logistics (3PL) market, transportation of goods is executed via multiple modes, including road, rail, air, and water. Among these, road transport dominates, accounting for over half of the revenue generated by 3PL service providers. The outsourcing of logistics services, which necessitates substantial investment and expertise, has led many companies to engage 3PL providers. Railways represent the second-largest contributor to the 3PL market's revenue in the US. However, there is a pressing need for infrastructure enhancement to optimally cover extensive territories through roadways.

By Service, Transportation  segment is expected to hold the largest market size for the year 2024

The Third-Party Logistics (3PL) market in the US is experiencing significant growth, driven by increasing demand for cost savings, improved efficiency, and enhanced supply chain visibility. Companies are outsourcing their logistics functions to 3PL providers to focus on core business activities. Key trends include automation, e-commerce integration, and real-time data sharing, offering competitive advantages and customized solutions.

North America is forecasted to hold the largest market size by region in 2024

ai_geographic_landscape

The Third-Party Logistics (3Pl) Market in US growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Americold Realty Trust Inc.
  • Blu Logistics
  • Burris Logistics Co.
  • C H Robinson Worldwide Inc.
  • Crete Carrier Corp.
  • Deutsche Post AG
  • Expeditors International of Washington Inc.
  • FedEx Corp.
  • Hub Group Inc.
  • J B Hunt Transport Services Inc.
  • Kenco Group Inc.
  • Kuehne Nagel Management AG
  • M and W Logistics Group Inc.
  • NFI Industries Inc.
  • Ryder System Inc.
  • Taylor Logistics Inc.
  • Total Quality Logistics LLC
  • United Parcel Service Inc.
  • Wagner Logistics Inc.
  • XPO Inc.
.

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Research Analysis Overview

The Third-Party Logistics (3PL) market in the US is experiencing significant growth, driven by the increasing demand for efficient and cost-effective supply chain solutions. The market is expected to be valued at over USD1 trillion by 2025, with key sectors such as consumer electronics, manufacturing, healthcare, energy, aerospace, and ecommerce merchants leading the way. One of the most significant trends in the 3PL market is the adoption of IT solutions, including blockchain technology, to enhance supply chain transparency and security. Fourth-party logistics (4PL) providers are also gaining popularity, offering end-to-end supply chain management services that go beyond traditional 3PL offerings. Last-mile delivery is another area of focus, with the need for door-to-door delivery solutions becoming increasingly important in an omni-channel retail environment. Cross-docking and inventory management are also critical components of the 3PL value proposition, enabling efficient logistics infrastructure and reducing transportation costs. Global trading activity is also driving growth in the 3PL market, with the transportation sector playing a key role in facilitating the movement of goods across borders. Key challenges include managing the complexities of international regulations and ensuring compliance with various standards. In summary, the 3PL market in the US is a dynamic and evolving landscape, driven by the needs of various industries, including consumer and retail, manufacturing, healthcare, energy, and aerospace. The adoption of IT solutions, the rise of 4PL providers, and the focus on last-mile delivery are just a few of the trends shaping the future of the market.

Market Research Overview

The Third-Party Logistics (3PL) market in the US is a dynamic and evolving industry that caters to various sectors, including Airways, Roadways, and Waterways. The market is significantly influenced by free trade agreements, technological advancements, and global trading activity. In the Airways segment, 3PLs provide air cargo and airfreight services, leveraging predictive analytics, artificial intelligence, and blockchain for real-time monitoring and tracking capabilities. The Roadways segment benefits from cloud-based technologies, AI, automation, and workplace robotics for efficient inventory management services and last-mile delivery. The E-commerce sector's growth has led to an increase in demand for omni-channel operations, door-to-door delivery, cross-docking, and inventory management. Third-party logistics companies offer software solutions to help e-commerce merchants manage their supply chain and track items in real-time. The logistics infrastructure for exporting goods, such as metal, rare earth elements, and consumer electronics, is crucial for the Technological industry, Retailing industry, and Manufacturing sectors. 3PLs provide dedicated contract carriage, warehouse management systems, and Electronic Data Interchange to facilitate cross-border trade and streamline global logistics operations. The Shipping industry and Transportation sector also benefit from the digital transformation, with AI and Big Data enabling predictive maintenance and optimizing routes for efficient delivery. Healthcare and Energy sectors rely on 3PLs for temperature-controlled warehousing and transportation services. Overall, the 3PL market in the US continues to grow, offering innovative solutions to various industries and sectors.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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