Growth of 3PL logistics, growing requirement for inverse logistics, technological modernization of warehouses and growing mergers & acquisitions in logistics sector were the key factors driving growth of Spain Logistics Market.
Spain ranked 23rd according to Global Logistics Performance Index and it is one of the most significant logistics markets in Europe. Optimum geographic position of Spain as an entry point into Europe and connection with Africa and Latin America acts as a good strategic position for its ports for commerce with Asia. Additionally, existence of logistics know-how, business awareness and high quality of living standards has aided the logistics industry of the country over the years. To provide better logistics services 3PL companies have been focusing on increasing their employee size, implementing information & data-driven solutions and expanding their geographical coverage. Recently, logistics service providers have turned to mergers & acquisitions to fill service gaps and expand their coverage across the nation.
Spain has been witnessing rising demand for modern warehousing and this demand has been majorly witnessed from logistics, e-commerce, 3PL and other distribution firms. The use of more advanced technology in warehouse management such as automation, robotics, bar-coding, ASRS, cross-docking, internet-enabled warehouse management systems have gained prominence in the market. Additionally, increasing urbanization and growth in FMCG and retail sectors backed with robust growth of manufacturing sector in Spain have aided the overall logistics industry of the country. Logistics development in recent years has placed Spain in a prominent position in the European market and with possible opportunities such as globalization of economy, falling logistics cost, improvement in quality of service and incorporation of new high added value services, the logistics market of Spain will grow at a modest growth rate.
The report titled “Spain Logistics Market by Service Mix (Freight Forwarding Market, Warehousing Market and Value Added Services), by Third Party Logistics, by Cold Chain Logistics, By Express Delivery Logistics and by Industries (Oil & Gas, Engineering Equipment, Food & Beverages, Metals, Automotive and Others) – Outlook to 2022” by Ken Research suggested that increasing technological innovations backed up with improvement in distribution networks will majorly contribute to the overall revenue growth of Spain logistics market in next 5 years till 2022.
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Ankur Gupta, Head Marketing