Hazardous Goods Logistics Market Size- By Business Type, By Operation, By Product, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Global Hazardous Goods Logistics Market Overview

According to SPER Market Research, the Global Hazardous Goods Logistics Market is estimated to reach USD 431.92 billion by 2032 with a CAGR of 7.25%.

A Hazardous good or dangerous good is any item or material that poses a risk to health, property, or the environment. Hazardous items account for a sizable fraction of international freight and include commonly used commodities and commodities such as cell phones, chemicals, bio-hazardous materials, and fuel. Special training is necessary for those who carry and store hazardous commodities such as explosives, radioactive materials, combustible liquids, and biohazardous materials. When chemically controlled products are transported in the form of hazardous commodities, they endanger persons, property, and the atmosphere. Electronics and fuel, for example, are among the most commonly sent goods around the globe. As a result, necessary measures, appropriate treatment, and appropriate packaging are essential while shipping hazardous materials. There are also severe legislation and requirements in place to ensure the safe movement of hazardous goods through pipelines, train, highway, air, and sea. As a result, shipping hazardous materials necessitates extra precautions, cautious handling, and proper packing.

Furthermore, there are unique safety laws and requirements in place for hazardous products movement through pipeline, train, highway, air, and sea. International bodies, domestic institutions, aviation, and shipping divisions have all implemented stricter regulations to improve harmful commodities management. Stringent rules and regulations for hazardous goods being moved and stored, a surge throughout digitization, an increase in the use of drones for delivering potentially dangerous goods, and an increase in the oil and gas industry are expected to drive the global hazardous goods logistics market during the forecast period. Nevertheless, the potential risk connected with unsafe products transit and storage, as well as the high cost of transportation, are projected to stymie worldwide market expansion throughout the projected timeframe. A growth in demand for medical waste management and a move towards nuclear energy are projected to offer opportunities in the radioactive products logistics business in the near future.

The execution of these rules is likely to support the growth of the hazardous products logistics industry. The International Maritime Organization (IMO), for example, created the International Maritime Dangerous Goods (IMDG) Code. The International Maritime Dangerous Goods Code (IMDG Code) is being established as an international code for the maritime transport of dangerous products in packaged form in order to improve and unify the safe transportation of dangerous goods and to reduce contamination to the environment.

Impact of COVID-19 on the Hazardous Goods Logistics Market

The COVID-19 pandemic's shutdown caused hurdles for transportation chemicals and other risky items, stifling the expansion of the hazardous goods logistics business. The demand from the pharmaceutical industry, on the other hand, had a beneficial influence on the market during COVID-19. For the safer transit of harmful commodities in shipping, worldwide and local organizations, institutions, and aviation and transporting authorities have published strict recommendations for safer dangerous program management. The execution among these rules is expected to fuel the hazardous products logistics market development throughout the projected timeframe. Factors that include the rising oil and gas sector, more regulatory laws and regulations regulating the transportation of hazardous commodities, and an increase in the delivery of nuclear pharmaceuticals, virus samples, and associated products during the COVID-19 pandemic are driving market growth.

Scope of the Report

Report Metric Details:

Market size available for years 2019-2032

Base year considered 2021

Forecast period 2022-2032

Segments covered

By Business Type, By Operation, By Product, By Application

Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America

Companies Covered

Agility Logistics, Bollore Logistics, Ceva Logistics, DB Schenker, DGD Transport, DHL, DSV, GEODIS, Hellmann Worldwide Logistics, Kuehne + Nagel, Rhenus Logistics, Toll Group, United Parcel Service, XPO Logistics, Ych Group, YRC Worldwide Inc, Yusen Logistics

Global Hazardous Goods Logistics Market Segmentation:

By Business Type: Based on the Business Type, Global Hazardous Goods Logistics Market is segmented as; Transportation, Warehousing, Value Added Services

By Product: Based on the Product, Global Hazardous Goods Logistics Market is segmented as; Flammable, Explosive, Radioactive, Bio-Hazardous, Others

By Application: Based on the Application Global Hazardous Goods Logistics Market is segmented as; Industrial, Healthcare, Agriculture, Others

By Region: The United States is the region's largest donor. Rapid industrialisation, rising energy demands, more trade among neighbouring nations, and greater internationalization have all contributed to regional market expansion. Europe's largest income sources are Germany, France, and the United Kingdom.