COVID-19 Impact on Logistics & Supply Chain Industry Market to Reach $3,215 billion in 2021

June 08 11:50 2020
COVID-19 Impact on Logistics & Supply Chain Industry Market to Reach $3,215 billion in 2021

Logistics & Supply Chain Industry
The major drivers of this market are increasing the supply of essential commodities, creation of supply chain stabilization task force to fight COVID-19, and growing demand and distribution of personal protective equipment.

The report “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” The global logistics market size is estimated to be USD 2,734 billion in 2020 and projected to reach USD 3,215 billion by 2021, at a Y-O-Y growth of 17.6%. The market is driven primarily by the increasing demand for the supply of essential commodities.

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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FMCG and healthcare industries to remain the largest in the logistics market.

Countries have exempted the manufacturing services regarding medical machinery and their supplies. The manufacturing of ventilators has increased as the number of COVID-19 positive cases continues to grow. For example, on April 14, 2020, Royal Philips planned to increase its hospital ventilator production to 4,000 units/week by Q3 2020 and introduced its new Philips Respironics E30 ventilator with immediate production of 15,000 units/week. Furthermore, the production and distribution of masks, gloves, medicines like HCQ has increased. The supply of essentials and the manufacturing of medical equipment is expected to drive the pharmaceutical and healthcare industry, and this will further boost the growth for the logistics and supply chain industry.

FMCG is one of the industries facing significant logistics challenges. Countries having a huge consumer base are facing major challenges when it comes to ensuring the continued supply of essential commodities. With limited availability of fast-moving consumer goods, consumers are experiencing a change in their lifestyle as they are receiving fewer products because of COVID-19 impact on the logistics and supply chain industry. However, 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 the 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 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 citizen’s 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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Roadways are the largest segment for the logistics market

Roadways and railways are relatively less affected by the COVID-19’s impact on the logistics sector when compared with airways and waterways. Due to heavy restrictions on international transport, roadways and railways have emerged highly important to maintain the optimum supply chain, especially for essential commodities. Being the preferred mode of transportation for essential goods, road transport is heavily relied upon for the continued supply of food, medicine, and other essential products.

Key Questions Addressed by the Report:

  • What is the impact of COVID-19 on the logistics and supply chain industry?
  • What would be the impact of COVID-19 on the logistics industry by 2021?
  • What are the business opportunities for global logistics companies?
  • Which players of the logistics and supply chain ecosystem would get impacted? (Positive/Negative)
  • Who are the major competitors in the logistics market, and what are their growth strategies?

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