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Insights from Future Market Research
The Dangerous-Hazardous Goods Logistics Market was estimated at USD 200.97 billion in 2021. With a compound annual growth rate (CAGR) of 6.45% during the projection period, the risky hazardous products logistics market sector is expected to increase from USD 212.87 billion in 2022 to USD 351.09 billion by 2030. (2022 – 2030). Chemically controlled substances endanger people’s property. harm the environment when they are transported as dangerous goods.
Batteries and petrol are two of the commodities that are transported throughout the world the most. Hence, while shipping hazardous materials, extra safety precautions, careful handling, and sufficient packaging are needed. There are also strict legislation and standards in place for the safe movement of hazardous goods via pipeline, train, motorway, air, and sea. There are stringent regulations governing the handling and storage of hazardous items.
Workers must complete significant training to securely transport and store hazardous goods, such as explosives, radioactive materials, flammables, and biohazardous waste. Hence, while shipping hazardous materials, extra safety precautions, careful handling, and sufficient packaging are needed. Transport of hazardous materials through pipeline, rail, road, air, and sea is subject to extra safety norms and regulations.
International organisations, local institutions, aviation, and shipping divisions, among others, have developed new, stringent regulations to enhance the management of risky goods.
International and domestic organisations, institutions, aviation, and shipping agencies have made stringent suggestions for safer dangerous product management for the transfer of dangerous items in shipping. While the projection period, it is predicted that the adoption of these policies would fuel the rise of the hazardous products logistics market. An increase in the transportation of nuclear pharmaceuticals, virus samples, and associated products during the COVID-19 pandemic, as well as increased government laws and regulations regulating the transit of hazardous commodities, are some of the causes driving the market expansion.
For these reasons, it is anticipated that the market for hazardous waste management and, therefore, hazardous products logistics, would grow quickly. Due to factors including stringent rules and regulations for transporting and storing hazardous goods, a fissure in digitization, an increase in the use of drones for delivering hazardous goods, and a rise in the oil and gas industry, the hazardous goods logistics market is anticipated to expand during the forecast period. The expanding need for medical waste management services as well as the increasing acceptance of nuclear power are both expected to boost the hazardous materials logistics industry. Due to the aforementioned factors, the logistics sector for dangerous/hazardous commodities is expected to increase at a market CAGR of 6.45% from 2022 to 2030.
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Regional Analysis:
Europe to Remain Forerunner at Dangerous/Hazardous Goods Logistics Market
Europe will remain forerunner at the dangerous/hazardous goods logistics market over the forecast period for the prime mode of transport being road freight transport. Concerning road transport, transporting dangerous goods in the European Union continued in increasing year by year in the last five years. In fact, in more than half of the European countries, more than two-thirds of the transport of dangerous goods had been performed within the national territory. With regards to commodity group, flammable liquids took over more than half of the total, followed by corrosives and gases.
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Market Segmentation:
According to the kind of products, the dangerous hazardous goods logistics market is segmented into flammable liquids, compressed gases, composites, oxidizing compounds, and others. An increase in the transport of flammable liquids is driving the industry. Recent market figures show that the share of hazardous products in total freight is quickly rising due to the thriving chemical sector. Kerosene, gasoline, LPG, naphtha, and other volatile petroleum liquids are all transported by two-thirds of the hazardous goods carriers. Compared to other forms of shipping, accidents involving such items are more frequent. A traffic collision can result in a variety of horrible consequences, including fire, explosion, injury, property loss, and environmental harm.
Most of the demand is caused by moving flammable substances. For instance, in Europe, flammable liquids, compressed gases, and corrosives will make up more than half of the dangerous commodities transported by road in 2021.
Based on service type, the market data for dangerous/hazardous commodities logistics is divided into three subsets: transportation, warehousing & distribution, and value-added services. Transportation logistics is by far the most popular service category, with a 2022 market value of USD 123,08 billion. Just a few businesses, such as those in the medical, nuclear, oil and gas, and petrochemical sectors, use hazardous materials extensively, whether in a developing or developed country. used. It takes the right personnel, the appropriate equipment, and the right trucks to transport hazardous materials safely.
The logistics of dangerous/hazardous commodities Three categories of end users may be found in the market: industrial, medical, and others. The highest market share among these three end users belongs to the medical sector. Hospitals and other healthcare institutions create a lot of potentially harmful and infectious trash every day. If handled improperly during disposal or exposure, biomedical and hospital waste pose serious dangers to both human and environmental health. Become. The pandemic’s consequences on the production of testing kits, transportation, testing, and waste disposal also led to an increase in medical waste.
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Key Players:
Ceva Logistics, Bollore Logistics, DHL, DSV, DB Schenker, Hellmann Worldwide Logistics, DGD Transport, Toll Group, YRC Worldwide Inc., United Parcel Service, GEODIS, Rhenus Logistics, Agility Logistics, Kuehne + Nagel and XPO Logistics.
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