BRICS Hazardous Goods Logistics Market (Services - Transportation, Warehousing, Distribution, and Value Added Services; Destinations - Domestic, and International): Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report ongoing study by Infinium Global Research on the hazardous goods logistics market provides an in-depth analysis of segments and sub-segments in the BRICS as well as regional hazardous goods logistics market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional hazardous goods logistics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the BRICS hazardous goods logistics market. According to the report, the BRICS hazardous goods logistics market is projected to grow at a significant CAGR over the forecast period of 2022-2028.

Market Insight

Depending on their nature, dangerous goods can be anything from liquids, gases, and solids. Nine classes distinguish their classifications. Hazardous goods can be categorized as flammable, explosive, radioactive, biohazardous, or allergenic. They usually require special authorization to store, use, and transport. Countries regulate dangerous goods by law, requiring special labeling and packaging. Please read more information about this topic on our page discussing hazardous goods. These goods need to handle with utmost care and consideration of their dangerous nature, and any mis-declaration, miscommunication, or incorrect documentation could have severe consequences and could prove disastrous to human lives onshore or on a ship.

Rise in the oil & gas industry, stringent government rules & regulations for hazardous goods transportation, and an increase in the transportation of nuclear medicines, virus samples, and similar products during the COVID-19 pandemic drives the market’s growth. Oil demand in BRICS nations like China, India, and South Africa has increased since a sharp change in the United States has been. Furthermore, the need for gasoline is reduced by large petrochemical projects. The oil & gas industry ultimately depends on shipping companies to transport their products across the globe. This is subsequently expected to drive the hazardous goods logistics market growth in BRICS nations. Moreover, dangerous goods should have their identification mark or a label, which can be used on the goods carriers while transporting hazardous goods; this would make transportation much safer. Packaging of dangerous goods should be done according to safety regulations and standards. For instance, every good unsafe package should have a distinct class label. Goods carriers carrying dangerous goods should be fitted with a tachograph, which is used to measure time speed, acceleration, and other vitals. Therefore, adhering to these norms, safer transportation of hazardous goods is expected to propel BRICS market growth. However, potential risks and the high cost of transportation are expected to hamper the market’s growth. Moreover, new market players entering the hazardous logistics goods market and shifting toward nuclear energy require a vehicle, which acts as an opportunity for market growth.

Geographically, China leads the hazardous goods logistics market in BRICS nations by holding the most significant revenue share. With the rapid development of the national economy and the ever-growing consumer spending, there has been an annual increase in the demand and volume of transporting dangerous goods. In China, waterborne transport is the immediate shipping of over ten thousand dangerous goods in nine categories, including explosives, compressed gases, flammable liquids, flammable solids, and oxidized, toxic and infectious, radioactive, corrosive, and miscellaneous substances. An exploration into the existing regulations and standards concerning the safety risk control will help detect any weaknesses and strengthen relevant management and capacity. Furthermore, in China, the Guidelines of Emergency Rescue for the Transport of Dangerous Goods guide the personnel working on transportation and production safety based on the above international standards and guidelines. Moreover, it offers evidence for the contingency plans, drills, and training concerning emergency rescue for accidents in transporting dangerous goods. Additionally, China has more detailed rules for easier law enforcement as China has more transport volume and consequent complicated conditions, making China a dominating region in BRICS nations.

Segment Covered

The report on the BRICS hazardous goods logistics market covers segments such as services, and destinations. On the basis of services, the sub-markets include transportation, warehousing, distribution, and value added services. On the basis of destinations, the sub-markets include domestic, and international.

Companies Profiled:

The report provides profiles of the companies in the market such as LYRO Robotics, AiSeed Inc., Sayurbox, Cogoport, and Wiz Freight.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the BRICS hazardous goods logistics market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.