The global urban logistics market is growing due to rise in urbanization, E-commerce growth, technology advancement, government regulation, sustainability initiatives, infrastructure development, and supply chain optimization.
WILMINGTON, Del., Sept. 6, 2024 /PRNewswire/ — Allied Market Research published a report, titled, ” Urban Logistics Market by Type (Express Logistics, LTL Logistics, Hazardous Chemical Logistics) , by Application (Electric Logistics Vehicle, Fuel Cell Logistic Vehicle) : Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the urban logistics market was valued at $25.7 billion in 2023, and is estimated to reach $77.9 billion by 2033, growing at a CAGR of 12% from 2024 to 2033.
Prime Determinants of Growth
The global trend of urbanization, with more people moving to cities, has resulted in higher population densities in urban areas. This increases the demand for goods and services that need efficient logistics solutions to manage the supply and distribution within these confined spaces. Furthermore, the integration of advanced technologies such as automation, artificial intelligence (AI), Internet of Things (IoT), and data analytics into logistics operations enhances efficiency, reduces costs, and improves delivery times. Innovations like real-time tracking, route optimization, and autonomous delivery vehicles are pivotal in transforming urban logistics.
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Report Coverage & Details:
Report Coverage
Details
Forecast Period
2024–2032
Base Year
2023
Market Size in 2023
$25.7 billion
Market Size in 2032
$77.9 billion
CAGR
12.0 %
No. of Pages in Report
456
Segments Covered
Type, Application and Region.
Drivers
Rise in Urbanization
E-commerce Growth
Technological Advancement
Opportunities
Integration of IoT
Restraint
Infrastructure Challenges
High Initial Costs
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By Type
The express logistics segment is expected to grow faster throughout the forecast period.
The express logistics segment is anticipated to experience faster growth in the urban logistics market as modern consumers demand quick and efficient delivery services. Express logistics providers cater to this need by offering speedy and reliable delivery solutions, often featuring real-time tracking and flexible delivery windows, which significantly contribute to their market dominance. Moreover, express logistics is crucial for businesses that require time-sensitive deliveries, such as perishable goods, pharmaceuticals, and urgent documents. The ability to provide expedited shipping options makes express logistics indispensable for many industries.
By Application
The electric logistics vehicle segment is expected to grow faster throughout the forecast period.
The electric logistics vehicle segment is anticipated to experience growth in the urban logistics market, due to the fact that electric vehicles (EVs) are more technologically mature than fuel cell vehicles. EV technology has been developed and refined over many years, leading to widespread adoption, better infrastructure, and more competitive pricing. Furthermore, there is a more extensive and developed infrastructure for charging electric vehicles compared to hydrogen refueling stations for fuel cell vehicles. The proliferation of charging stations in urban areas makes it more feasible for logistics companies to deploy and operate electric logistics vehicles efficiently.
By Region
North America to maintain its dominance by 2033.
North America is expected to maintain its dominance in the urban logistics market by 2032 owing to North America, especially the U.S., experiencing a significant surge in e-commerce activity. The region is home to some of the largest e-commerce companies in the world, including Amazon, which has heavily invested in urban logistics infrastructure to meet the growing demand for fast and reliable delivery services. The region boasts well-developed transportation and logistics infrastructure, including an extensive network of highways, airports, and seaports. This advanced infrastructure supports efficient urban logistics operations, allowing for the quick and effective movement of goods within urban areas.
Players
AmazonAlibaba GroupDHLFedExJD.comMaerskSF ExpressUber FreightUPSXPO Logistics
The report provides a detailed analysis of these key players in the global urban logistics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Industry News
In January 2024, Global Village Shipping (GVS) partnered with BITS Pilani in the field of transportation and logistics. The objective of this partnership is to address key challenges and explore opportunities in the transportation and logistics sectors. This could involve studying emerging technologies, optimizing supply chain processes, or analyzing market trends to drive innovation and efficiency.In February 2023, Paloma, a well-established logistics company, made the strategic decision to sell its Amazon unit to a rapidly growing urban logistics platform. This move reflects Paloma’s focus on optimizing its business portfolio and aligning with emerging trends in the logistics industry. By divesting its Amazon unit, Paloma aims to streamline its operations and allocate resources more effectively to areas of growth and innovation. Meanwhile, the urban logistics platform, poised for expansion in the dynamic urban logistics market, sees the acquisition of Paloma’s Amazon unit as an opportunity to strengthen its presence and capabilities in last-mile delivery and e-commerce logistics.In May 2024, Patrizia has acquired a 10-property urban logistics portfolio in Sweden, which will serve as the foundational asset for a EUR 300 million platform aimed at the Nordic urban industrial and logistics market. This investment is part of a strategic joint venture partnership with Broadgate Asset Management, a leading Nordic real estate operating partner. The collaboration leverages Patrizia’s investment expertise and Broadgate’s local market knowledge to capitalize on the growing demand for urban logistics in the Nordic region.
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