India Third-Party Logistics (3PL) Market Size Set to Cross USD 94.2 Billion by 2029

Published | 08 June 2023

India third-party logistics (3PL) market is flourishing due to deepening globalization, thriving e-commerce, infrastructure development, government initiatives such as Make in India and GST implementation, cost reduction benefits, and the need for efficient supply chain management in various industries.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India third-party logistics (3PL) market size at USD 58.63 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India third-party logistics (3PL) market size to grow at a CAGR of 7.74% reaching a value of USD 94.22 billion by 2029. The increased adoption of 3PL services across various industries, such as e-commerce, retail, automotive, and pharmaceuticals, is a major factor driving the growth of the India third-party logistics (3PL) market. The development of e-commerce has driven the demand for efficient logistics solutions in particular. In addition, there is an increasing emphasis on 3PL operations on technological integration, such as the use of automation, artificial intelligence (AI), and cloud-based platforms for greater tracking and real-time visibility. Government’s supportive measures, such as the implementation of Goods and Services Tax (GST), have streamlined logistical operations, resulting in increased efficiency and cost savings. Furthermore, there is an increase in demand for value-added services, such as packaging, reverse logistics, and supply chain consultancy, which is propelling the India 3PL market forward.

India Third-Party Logistics (3PL) Market – Overview

Third-Party Logistics (3PL) is the practice of contracting out logistics and supply chain management to a specialized external service provider. 3PL service providers handle many parts of a company's supply chain, such as transportation, warehousing, inventory management, and order fulfillment. 3PL service providers have experience, infrastructure, and resources to help organizations streamline and optimize their logistics operations, allowing them to focus on their core capabilities. They frequently rely on technology and networks to deliver efficient and cost-effective solutions. 3PL services can help businesses increase operational efficiency, cut costs, improve customer service, and gain a competitive advantage in the market.

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Impact of COVID-19 on India Third-Party Logistics (3PL) Market

The COVID-19 pandemic significantly affected the India third-party logistics (3PL) market, causing disruptions across the supply chain. With nationwide lockdowns, restricted movement of goods, and reduced industrial activities, the demand for 3PL services witnessed a sharp decline. The logistics industry faced challenges, such as labor shortages, transportation constraints, and operational complexities. Further, the shifting consumer behavior towards online shopping and e-commerce resulted in a surging demand for last-mile delivery and warehousing services. 3PL providers had to swiftly adapt to new safety protocols, implement contactless delivery, and enhance their digital capabilities to ensure business continuity and meet changing customer needs. The pandemic reshaped the landscape of the India 3PL market, emphasizing the importance of agility and resilience.

India Third-Party Logistics (3PL) Market – By End Use

On the basis of end use, India third-party logistics (3PL) market is divided into Manufacturing, Retail, Healthcare, and Automotive segments. The India third-party logistics (3PL) market is comprised of several segments, including manufacturing, retail, healthcare, and automotive. Among these segments, the largest one in terms of size and scope is the manufacturing sector. The manufacturing segment accounts for a significant portion of the 3PL market in India, driven by the country's robust manufacturing industry. With the rise of e-commerce and globalization, manufacturers require efficient and streamlined logistics solutions to manage their supply chains effectively. This has led to an increased demand for third-party logistics services in the manufacturing sector, making it the largest segment within the Indian 3PL market.

Competitive Landscape

India third-party logistics (3PL) market is fiercely competitive. Major companies in the market include DHL Supply Chain India Pvt Ltd, Blue Dart Express Ltd., FedEx Express Transportation and Supply Chain Services (India) Pvt Ltd, Gati Ltd, Mahindra Logistics Ltd, Safexpress Pvt Ltd, Allcargo Logistics Ltd, and Transport Corporation of India Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in India third-party logistics (3PL) market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Third-Party Logistics (3PL) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Third-Party Logistics (3PL) 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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