Market Overview
The Dangerous Hazardous Goods Logistic Market is estimated to grow by USD 2.00,845.30 million in the following year.
Dangerous goods are any product or material that is not normally considered safe to handle and transport. They can include hazardous chemicals, prescription drugs, biological agents, explosives, and other high-risk materials.
Hazardous goods logistics is moving these materials safely from their origin to their final destination; this includes everything from transporting them in bulk on trucks or ships to tightly controlling the temperature and humidity throughout the shipment process.
The main drivers for this market include growing awareness about environmental hazards posed by hazardous materials and increasing demand for efficient and sustainable solutions for handling these materials safely and effectively. Additionally, growth in the transportation sector due to rising population, urbanization, and economic development is fuelling this market segment.
Several players are vying to capture a share of this lucrative market, including increased demand for flammable liquids. Expand petroleum industries in the developing industries have been driving market growth.
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Market Segment
The main drivers for this market include growing awareness about environmental hazards posed by hazardous materials and increasing demand for efficient and sustainable solutions for handling these materials safely and effectively. There are three major market segments of the dangerous goods logistics market: destination, service type, and container type.
The destination can divide the logistics into domestic and international segments. Domestic logistics accounts for the largest market share because it handles moving products from manufacturers to retailers and transporting hazardous materials across state lines. Surplus goods produced are then transported into the international market. Domestic shipping is way cheaper than international transportation.
Services can divide dangerous goods logistics into transportation, warehousing, distribution and value services segments. Transportation providers offer shipping, transportation management, and related services to transport dangerous goods; Warehousing is the second most important segment, as it helps companies store these products securely until they are shipped out by transport or delivered to the final destination.
Containers can divide the logistics into insulated containers, bolster shipping containers, refrigerated containers etc. they prevent any kind of accident from the hazardous substance and keep a constant temperature internal.
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Regional Analysis
The market for dangerous goods logistics is growing fast, as more and more products need to be handled safely and correctly; This is especially true for products that may cause environmental or health hazards if not transported correctly.
Report on the logistics industry for dangerous/hazardous goods, segmented by region (North America, Europe, Asia-Pacific).
Asia Pacific region has the highest share in the market and is expected to reach USD 675.51 billion. And china owing to be at the lead being the lead contributor due to the extensive production of chemicals and petrochemicals.
The market for hazardous goods logistics is growing rapidly as more companies become aware of how important it is to protect their employees and customers from potential health risks posed by dangerous cargo. Additionally, stringent safety regulations enacted recently have made this sector a target for investment opportunities.
Market Key Players:
Ceva Logistics AG (France), Bollore Logistics (France), DHL (Germany), DSV (Denmark), DB Schenker (Germany), Toll Holdings Ltd. (Australia), Suttons Group (UK), Ellmann (Germany), DGD Transport (US), YRC Worldwide, Inc. (US), Geodis (France), Eastrex Logistics SDN BHD (Malaysia),Rhenus Group (Germany), Agility (Kuwait), SGS SA (Switzerland)
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Industry News
26-08-22
The EPA proposes new law for the protection of human health by making a list of substances like PFAS chemicals and listing them as hazardous substances.
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