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

  • Published : May, 2022

  • Rep Id : CM00907

  • Category : Chemicals & Materials

  • Status : Published

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 global as well as regional hazardous goods logistics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global 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 global hazardous goods logistics market. According to the report, the global hazardous goods logistics market is projected to grow at a significant CAGR over the forecast period of 2022-2028.

 

Market Insight

Hazardous goods consist of materials subjected to chemical regulations, which, when transported, can be a risk to health, property, safety, and the environment. Hazardous goods cover a significant portion of the global freight, including widely used commodities and products such as batteries and gasoline. People handling the transportation of dangerous goods such as explosives, radioactive, flammable, and biohazardous products must have special training. Therefore, transporting hazardous goods requires special precautionary measures, careful handling, and good packaging. In addition, there are noteworthy safety regulations and standards for the transportation of dangerous goods via pipeline, rail, highway, air, and marine vehicles. International organizations, domestic institutions, aviation, and shipping divisions have issued stringent guidelines for better dangerous goods management. These policy implementations are expected to boost the growth of the hazardous goods logistics market in the coming years.

 

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. Global oil demand has increased since there has been a sharp change in the U.S. The need for gasoline is reduced by large petrochemical projects. For instance, the increase in petrochemical demand in the U.S. has increased the demand for trucking services for transportation of oil & gas, which is a hazardous good. Additionally, The International Energy Agency projected that the U.S. would drive the global oil supply for the next five years, making it the leading oil producer by overtaking Russia and Saudi Arabia. The oil & gas industry ultimately depends on shipping companies to transport their products across the globe. This is subsequently expected to drive the growth of the hazardous goods logistics market. Dangerous goods should have their identification mark or a label, which can be used on the goods carriers while transporting hazardous goods. Moreover, this would make transportation much safer. Packaging of dangerous goods should be done according to safety regulations and standards. For instance, every good hazardous 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 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 goods logistics market and shifting toward nuclear energy require a vehicle, which acts as an opportunity for market growth.

 

Europe will command the global hazardous goods logistics market over the forecast period. Road freight transit being the necessary means of transportation, increasing the movement of dangerous products in the European Union, and increasing transfer of flammable liquids, corrosives, and gases are adding to the global logistics of the hazardous goods logistics market’s development in the global hazardous goods logistics market the region. Furthermore, North America will have phenomenal growth in the global hazardous goods logistics market over the forecast period. The presence of industry players in the United States coupled with robust infrastructure adds to the development of the dangerous goods logistics market in the region. In addition, the developing oil trade in the United States is also contributing to the market’s growth.


Hazardous Goods Logistics Market

 

Segment Covered

The report on the global 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 DHL, DSV, Ceva Logistics, Bollore Logistics, DGD Transport, DB Schenker, Hellmann Worldwide Logistics, Toll Group, and YRC Worldwide Inc, and United Parcel Service.

 

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 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.


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