Revenue generated by the global third party logistics (3PL) service providers is forecast to break the trillion dollar barrier by 2022
A recent report published by Armstrong and Associates estimates that the 3PL market will increase from USD 802 billion to a whopping USD 1.1 trillion by 2022.
The increase in E-commerce order fulfillment activity is a key driver of the growth.
According to the report – 2016 gross revenue from 3PL’s in Asia Pacific is currently USD 305 billion with China making up close to 55% of the regions third party logistics market.
The Australian market represents 3.6% or nearly USD 11 billion
The USA 3PL market is worth approximately USD 167 billion while the gross revenue generated by third party logistics service providers in Europe was approximately USD 172 billion
The report also ranks the top 50 Global 3PL’s by 2016 Gross Revenue. The top 10 are listed below.
- DHL Supply Chain and Global Forwarding (Head Office in Germany)
- Khune and Nagel (Switzerland)
- Nippon Express (Japan)
- DB Schenker (Germany)
- C.H. Robinson (USA)
- DSV (Denmark)
- XPO Logistics (USA)
- Sinotrans (China)
- GEODIS (France)
- UPS Supply Chain Solutions (USA)
The only 3PL service provider with a head office in Australia that makes the 2016 top 50 Global 3PL List is the Toll Group