The global contract logistics market grew by just under 10% last year, according to the latest report from Transport Intelligence, ‘Global Contract Logistics 2007’.
The market was driven by growth in the Asia Pacific region, which overtook North America for the first time to become the world’s second largest market. Europe, the most mature market, experienced solid if unspectacular growth. In Asia Pacific, China, India and South Korea experienced the highest levels of growth, in contrast with Japan, where economic stagnation held back the industry.
The Middle Eastern market is also proving to be buoyant due to the region’s development as a major transport hub, investment in oil and construction projects, and the growth of consumer markets. The report also analyses which logistics companies are best exploiting these positive market conditions. In total the top ten companies account for just over 25% of the global market despite a decade of consolidation. The fragmentation hints at the likelihood of further mergers and acquisitions and market consolidation.
