DHL (Germany) and UPS (US) are the Key Players in the COVID-19 Impact on Logistics & Supply Chain Industry Market
Post COVID-19, the global logistics market size is projected to grow from USD 2,734 billion in 2020 to USD 3,215 billion by 2021, at a Y-O-Y of 17.6%. The major drivers for the market high emphasis on the supply of essential commodities, creation of supply chain stabilization task force to fight COVID-19, and increasing demand and distribution of personal protective equipment.
The logistics market is dominated by global players and comprises several regional players. Some of the key players in the logistics and supply chain industry are DHL (Germany), UPS (US), FedEx (US), Kuehne+Nagel (Switzerland), CEVA Logistics (Switzerland), DB Schenker (Germany), SNCF (France), XPO Logistics (US), Kenco Group (US), and Hitachi Transport System (Japan).
Partnerships and supply chain contracts are the most prevailing strategies in this market. For instance, on April 14, 2020, the UPS announced that it helped QIAGEN deploy its products worldwide at a faster rate, including the first syndromic testing solution that can differentiate novel coronavirus from 20 other serious respiratory infections in approximately one hour.
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Some of the global logistics companies also announced new product launches as their strategy. For instance, on April 15, 2020, Kuehne+Nagel launched an enhanced version of its SeaExplorer online platform. SeaExplorer supports shippers not only with realistic lead times for routings but also aids with service updates and up-to-date sailing schedules, showing alternative departures for blanked sailings. This allows customers to compare options across all liner services to easily adjust routings according to their requirements for speed and reliability.
DHL, one of the leading logistics companies in the world, has started communicating operational updates in specific countries on a country-by-country basis. The company has been able to successfully send emergency medical equipment and supplies to healthcare workers, deliver the necessary goods to private customers, and find solutions for companies to continue their operations.
Some of the companies from the FMCG and automotive industries also adopted partnership and collaboration as a strategy. For instance, in March 2020, Nestlé partnered with the International Federation of the Red Cross and Red Crescent Societies (IFRC). The two entities announced to work together to provide assistance to emergency services and caregivers and strengthen healthcare systems. The organizations agreed to donate food, medical nutrition products, and bottled water; deploy logistics capacities to support the needs of the IFRC in various countries, and donate approximately USD 10 million in countries where it is most needed. Similarly, Maruti Suzuki announced that it would support AgVa Healthcare, an authorized manufacturer of ventilators, to help meet the existing demand. Ford is also working with 3M and General Electric to make ventilators and masks that are currently in short supply. The company joined other companies such as Tesla and General Motors in helping the medical community after their plants halted operations because of the pandemic, which is having a significant impact on both consumer demand and the global supply chain.
Related Reports:
COVID-19 Impact on Logistics & Supply Chain Industry Market by Industry Verticals (Automotive, FMCG, Healthcare, Energy & Utilities,Industrial Machinery & Equipment), Mode of Transport (Roadways, Railways, Airways, Maritime), Region - Global Forecast to 2021
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