Global Logistics Market Increased By 10.3% In 2005

The Global Contract Logistics 2006 report, by the transportation and logistics research and analysis firm of Transport Intelligence, detailed an increase of 10.3% in 2005 of the global contract logistics market to approximately $150 billion.

According to the research, the fastest growing market was China, with 31%, due to outsourcing and increased volumes lifting the market. The United States also experienced dramatic rates of development driven by the strong economy and distribution of imported consumer goods.

The weakest expansion in the report was Europe with high single digit growth despite an economic slowdown in the past several years. The German market benefited from outsourcing like the major deal between DHL and retailer KarstadtQuelle.

Transport Intelligence also reported that the coming years will see strong growth in the global contract logistics industry, nourished by influence of the Asia Pacific region. The increasingly liberalized Japanese economy seems to be set for development and growth, while the Indian market will become an important economic factor.

The Global Contract Logistics 2006 report forecasts the entire market will grow at a Compound Annual Growth Rate (CAGR) of 13.8% between 2005 and 2009.