Canada 3PL Market Share, Revenue, Trends, Growth Drivers, Key Players, Challenges and Future Investment Strategies Till 2033


Canada 3PL Market Share, Revenue, Trends, Growth Drivers, Key Players, Challenges and Future Investment Strategies Till 2033: SPER Market Research

 Published: May-2024
 Author: SPER Analyst

Canada Third Party Logistics (3PL) Market is projected to be worth USD 32.34 billion by 2033 and is anticipated to surge at a CAGR of 4.86%. 

A third-party logistics (3PL) provider manages the flow of goods in a business's supply chain and ensures that products are delivered on schedule from the manufacturer to the customer. These services extend beyond logistics to offer value to every step of the process, from acquiring supplies to distributing finished items to clients, creating a productive and successful supply chain. A 3PL service can be a single supplier, such as shipping or warehouse storage, or it can be a system-wide group of services that are capable of managing the supply chain.

Canada Third Party Logistics (3PL) Market Driving Factors and Challenges

Drivers: The rise in demand for effective logistics services, such as inventory management, last-mile delivery, and warehousing, is a result of the growing popularity of online shopping. In addition, the expansion of cross-border trade brought about by Canada's involvement in international trade agreements has increased the demand for dependable and effective logistics services. Additionally, in order to focus on their core business functions and increase overall operational efficiency, companies are increasingly outsourcing their logistical services to third-party logistics (3PL) providers. Furthermore, technological developments The 3PL sector has seen a transformation thanks to the introduction of cutting-edge technologies like automation, robots, and artificial intelligence, which have allowed businesses to increase productivity and cut expenses.

Challenges: Some businesses may be discouraged by the expense of outsourcing their logistical operations to third-party logistics (3PL) providers, particularly small and medium-sized businesses with tight budgets. Additionally, organizations who prefer to have complete visibility and control over their operations may find it concerning as outsourcing logistical functions involves giving up some control over the supply chain. Furthermore, there may be a risk involved in outsourcing logistical activities since it entails disclosing private information and giving third companies control over security and risk management.

Impact of COVID-19 on Canada Third Party Logistics (3PL) Market
The COVID-19 epidemic and the lockdown that followed had a significant negative impact on the supply chain, financial and liquidity management, and logistical issues. The limitations on commutes and the unsatisfactory financial performance of market participants had a significant impact on Canada's 3PL sector. Due to a shortage of workers and inadequate health and safety precautions, the overall production activities of various industries, including those that produce pet accessories, home décor items, and health and nutrition products, decreased.

Canada Third Party Logistics (3PL) Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Mactrans Logistics, CEVA Logistics, TSI Group, DSV, Polaris Worldwide Logistics, Kuehne + Nagel, DHL Supply Chain, DB Schenker, and Ryder Supply Chain Solutions.

Canada Third Party Logistics (3PL) Market Segmentation:

By Mode of Transport: Based on the Mode of Transport, Canada Third Party Logistics (3PL) Market is segmented as; Railways, Roadways, Waterways, Airways.

By Services: Based on the Services, Canada Third Party Logistics (3PL) Market is segmented as; Domestic Transportation Management, International Transportation Management, Dedicated Contract Carriage, Warehousing and Distribution.

By End User: Based on the End User, Canada Third Party Logistics (3PL) Market is segmented as; Automotive, Consumer & Retail, Energy, Healthcare, Industrial & Aerospace, Technology, Others.

By Region: This research also includes data for Ontario, Quebec, Alberta, British Columbia, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Newfoundland & Labrador.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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