The research company TransportIntelligence has drawn up a report on global logistics, which estimates the global value of this sector at 5,275 billion euros in 2020, with the forecast of significant growth this year, due to the recovery after the emergency caused from the Covid-19 pandemic. These data hold true the forecast of average annual growth of 4.7% between 2020 and 2024, as TransportIntelligence had predicted before the pandemic.
A sector that in 2020 showed a strong increase is that of express transport, driven by the surge in electronic commerce. "The closure of stores selling non-essential products has moved consumers to the web to purchase goods, such as electronics, office supplies, health and wellness equipment," explains the company, which leads the example of DHL. The Express segment of the German company produced a turnover of 19.12 billion euros, an increase of 12%. TransportIntelligence predicts that the growth of national and international express transport will continue at least until 2024 with an annual average of 7.9% and 6.8% respectively.
The pandemic has had a different impact on air and sea transport. The former has suffered a drastic reduction in the hold offer since the initial phase of the pandemic, which in turn has caused an increase in tariffs when traffic has resumed. According to WorldACD, global volumes fell 12.6% year-on-year in November 2020, resulting in a 79% increase in tariffs.
Maritime transport records an even greater increase in freight rates. TransportIntelligence reports the data of Freightos, according to which the transport of a teu from China to the west coast of the United States was 4261 dollars as of January 22, 2021, against 2102 dollars on the same day of the previous year (with an increase of 103%) . TransportIntelligence predicts that air transport will record an average annual growth of 5.4% and maritime transport of 5% between 2020 and 2024.
As for third party logistics, TransportIntelligence expects growth of 5.4% for 2021. the pandemic had a major impact on this business, due to the closure of numerous factories and non-essential stores, leading to a decline of 4.1%. "Contract logistics will have to face profound changes," say TransportIntelligence analysts. This will happen both for those serving retail sales and for those serving the supply of factories in certain sectors, such as the automotive one.
In the automotive sector, TransportIntelligence points out, "the days of the internal combustion engine are numbered and the transition to electric vehicles will require a fundamental rethinking of the automotive supply chain in the coming years. Already experiencing the decline in global sales before the pandemic, and forced to close during the pandemic, automotive production may never be the same again ”. In 2020, automotive logistics fell by 20.4%.
Source: TrasportoEuropa
