Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.