Global Hazardous Goods Logistics Market

Global Hazardous Goods Logistics Market Size Set to Touch Whopping USD 344 Billion by 2029

Published | 26 July 2023

Global hazardous goods logistics market is gaining traction because of a spurring demand for hazardous goods due to industrial growth and stringent regulations and compliance requirements for the transportation of hazardous goods.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global hazardous goods logistics market size at USD 211.3 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global hazardous goods logistics market size to grow at a CAGR of 7.4% reaching a value of USD 343.93 billion by 2029. Along with strict rules that demand particular handling, packing, and safety precautions for hazardous commodities, the booming oil sector and international fuel commerce are major growth factors for the global hazardous goods logistics market.

Global Hazardous Goods Logistics Market – Overview

Hazardous goods logistics refers to the transportation of dangerous items by air, sea, or land while using the utmost safety precautions. Transporting hazardous chemicals has the potential for groundwater and land pollution in the case of an accident. Additionally, it poses a health danger to both local wildlife and people. There are nine categories of hazardous goods assigned by the United Nations. Approximately 3,000 items and chemicals that are often delivered by air are listed in the Dangerous Goods Regulation Manual (DGR) by the International Air Transport Association.

Global Hazardous Goods Logistics Market – By Product

Based on product, the global hazardous goods logistics market is segmented into flammable, explosive, radioactive, bio-hazardous, and others. Flammable products account for the highest share of the global hazardous goods logistics market. The growth of this segment is mainly attributed to the flourishing trade of petroleum products such as crude oil, natural gas, and gasoline. These products are highly flammable and carry a high risk of accidents through leaks, explosions, and pollution. The high risk of accidents occurring during loading and unloading, combined with the loss of cargo and the expense of restoration due to environmental damage, is driving market growth.

Impact of COVID-19 on Global Hazardous Goods Logistics Market

The COVID-19 pandemic halted the growth of the global hazardous goods logistics market due to the temporary restrictions on international trade and the cross-border supply of goods. The oil and industrial sectors were particularly impacted due to the constraints on their operations as a result of the lockdown and the high risk of the virus spreading through logistics to other countries. Since coronavirus is one of the most dangerous viruses, it must be transported with the utmost care. The transportation of the new coronavirus and medications from the sites of outbreaks to healthcare facilities and research institutions for the purpose of investigation, however, gave the market a boost from the healthcare sector.

Competitive Landscape

Major players operating in the global hazardous goods logistics market include Deutsche Post DHL Group, DSV, Ceva Logistics, Bollore Logistics, DGD Transport, Toll Group, YRC Worldwide Inc., DB Schenker, Hellmann Worldwide Logistics, Agility Logistics, Kuehne + Nagel, XPO Logistics, United Parcel Service, and GEODIS.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Hazardous Goods Logistics Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Hazardous Goods Logistics Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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