Market Size of Qatar Third-Party Logistics (3PL) Industry
|2020 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2020 - 2022
|> 5.00 %
*Disclaimer: Major Players sorted in no particular order
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Qatar Third Party Logistics (3PL) Market Analysis
The Qatar Third-Party Logistics (3PL) market is estimated to register a CAGR of greater than 5% during the forecast period (2023-2028).
- Qatar's economy undoubtedly experienced some challenges throughout 2020 and the first half of 2021, due to the dual shock of the drop in oil prices and the impact of the pandemic, which led to an overall decline in economic output of -3.7%. This also had a similar impact on 3PL sector in the country. However, the rise in the eCommerce sector during the pandemic had a positive impact on the market. The economic recovery is now gaining pace supported by a range of factors, including energy price recovery, which will contribute to 3PL market as well.
- The fact that the country is one of the largest LNG suppliers in the world has supported the growth of the logistics market. Moreover, the country's LNG expansion plans and growth in the eCommerce sector are expected to support the growth of the 3PL market through the forecast period. Qatar tops all GCC countries for domestic logistics and is the 7th most competitive of the world's leading emerging markets, a performance driven by its strong business conditions and digital readiness.
- The country's strategic location, world-class infrastructure, and experienced workforce make it an ideal partner for businesses that need to move goods around the globe. Therefore, many businesses are partnering with transport and logistics companies in Qatar. Qatar's transportation and logistics sector is proliferating, and the government is investing heavily in developing the country's infrastructure. This is making it an increasingly attractive destination for businesses that need to transport goods internationally.
- Qatar has a strategic location that makes it an ideal partner for transport and logistics companies. The country is situated on major shipping routes and is within easy reach of markets in Asia, Africa, and Europe. Qatar also has world-class infrastructure, including an extensive network of highways, railways, and airports.
- Qatar is expected to become a global center for technology, life sciences, health care, logistics, and a hub for temperature and time-sensitive commodities with its well-developed airport infrastructure and services. The Qatari government aims to develop the country into a new logistical and regional center, with the country's peninsular geography allowing its ports to offer significant competitive trade advantages, particularly for oil and gas exports. These plans will fuel the market growth. Despite the many benefits of transport and logistics in Qatar, there are also some challenges that could hamper the market growth. These challenges include the high cost of transport and logistics services and the time-consuming process of customs clearance.