PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1194915
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1194915
According to SPER Market Research, the China Logistics and Warehousing Market is estimated to reach USD xx billion by 2032 with a CAGR of xx%.
Due to the country's developing industrial and retail sectors, rising disposable income, expanding number of investments, and rising value of exports and imports, it was noticed that the Chinese logistics market was in a boom stage at this time. On the basis of revenue, the China Logistics Industry has had low single digit CAGR growth. Due to increased digital advances, expanding infrastructure spending, and rising logistical demand in China, the industry is thriving. The logistics industry's biggest income generator is the freight forwarding sector, which is followed by courier and package services, and warehousing. Additionally making up a large share of China's overall logistics business are value-added services.The logistics sector in China will continue to be dominated by the freight forwarding business. The government has started a number of initiatives to improve the nation's infrastructure, which will help the logistics business thrive in the next years. The country's expanding retail and FMCG sectors will drive up demand for warehouses, storage, and transportation and logistics facilities. With the advent of cloud logistics, drone facilities, automation, and other technologies, industry will transition to a digital growth.
Logistics firms, which are engaged in the movement, storage, and transfer of goods, have been directly impacted by the COVID-19 outbreak. As a crucial link in value chains that extend both locally and internationally, logistics companies help businesses reach their customers and facilitate trade and commerce. Increased industrial activity, growing foreign investment, initiatives to promote exports, and the influx of international companies into China will all be positive factors for the logistics and warehousing industry. The government's extensive infrastructure initiatives, particularly those related to the transportation infrastructure, have played a significant role in the market's ongoing expansion.Chinese logistics market has been changing as a result of factors like rising logistics demand caused by factors like higher e-commerce penetration because of shifting consumer spending patterns; bettering transportation and warehousing infrastructure because of numerous government projects; rising investment in technologies like IoT, Big Data Open Data, AI, Automation, and more; and expanding international trade.