In 2020, the global logistics market was worth almost 8.6 trillion U.S. dollars. North America was the second largest region in that year, accounting for approximately two trillion U.S. dollars.
Logistics in Asia-Pacific
With roughly 3.9 trillion U.S. dollars in size, the logistics market in the Asia Pacific region is the largest one globally. The Asia-Pacific region has the most postal offices in the world as well. The leading position of the region in the logistics industry could be explained mostly because of the importance of the region in supplying most of the necessary trade goods globally. Since it was highly cost-effective for western companies to start moving the entire production of goods to less-developed countries in Asia, most of the companies today have their entire facilities performing from Asian countries. The expansion of trade routes and the shift of industrial production towards Asian countries contributed to the logistic market’s development immensely. Yet, when one looks at the distribution of leading logistics firms by the origin of the country, the leading firms are non-Asian headquartered. Besides, the Asia Pacific region has the world’s largest ports which grow at a continuous rate. PSA International, Hutchison Port Holdings, China Cosco Shipping and China Merchants Ports are four major marine terminal operators from the region.
Singapore-based marine terminal operator, PSA International was founded in 1964 and improved its global reach strategically since then. For instance, PSA International was the leading marine terminal operator globally in 2019. During that period, the company handled some 60.4 million twenty-foot equivalent units (TEUs) during that period. The marine operator experienced a slump in its assets between 2009 and 2015. Yet, since 2016, the company recovered its level of assets held and by 2020 reaching its peak value of over 23.3 billion Singapore dollars. On the other hand, the revenue generated by PSA International has not recovered its peak value from 2011. Between 2009 and 2020 fiscal years, PSA International’s revenue fluctuated around four billion Singapore dollars, generating just over 4.1 billion Singapore dollars in the fiscal year of 2020.
Size of the global logistics market in 2020, by region
(in billion U.S. dollars)
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Statista. (October 20, 2021). Size of the global logistics market in 2020, by region (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 09, 2021, from https://www.statista.com/statistics/1069868/total-global-logistics-market-size-region/
Statista. "Size of the global logistics market in 2020, by region (in billion U.S. dollars)." Chart. October 20, 2021. Statista. Accessed December 09, 2021. https://www.statista.com/statistics/1069868/total-global-logistics-market-size-region/
Statista. (2021). Size of the global logistics market in 2020, by region (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 09, 2021. https://www.statista.com/statistics/1069868/total-global-logistics-market-size-region/
Statista. "Size of The Global Logistics Market in 2020, by Region (in Billion U.S. Dollars)." Statista, Statista Inc., 20 Oct 2021, https://www.statista.com/statistics/1069868/total-global-logistics-market-size-region/
Statista, Size of the global logistics market in 2020, by region (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1069868/total-global-logistics-market-size-region/ (last visited December 09, 2021)