It’s fair to say that we depend on the top logistics companies now more than ever before. In an era of international ecommerce and speedy delivery expectations, these businesses work tirelessly behind the scenes to coordinate the storage and transportation of everything from food to electronics to cars.
The logistics industry was rocked by the pandemic in 2020 but benefited from the ecommerce boom in the two years that followed. 2023 represented a return to normal for most logistics companies, equating to a real terms, year-on-year decline. This article from our experts at Business2Community brings you an up-to-date look at the largest logistics companies in the world and how they’re performing now.
The World’s Biggest Logistics Companies
The logistics industry was worth an estimated $8.96 trillion in 2023 and is forecast to grow to $21.91 trillion by 2033 at a CAGR of 9.35%.
Data from Precedence Research reveals the following regional market share as of 2023:
- Asia Pacific: 44.09%
- North America: 24.47%
- Europe: 21.81%
- Latin America: 5.60%
- Middle East & Africa: 4.03%
Rapid growth in the retail industry paired with strong infrastructure investment is driving growth in Asia Pacific, but for now, only one of the 10 top logistics companies is headquartered in this region.
Let’s take a look at the biggest logistics companies in the world, what they do, and how they are performing.
Note that because we use market cap as a measure, we have only included publicly traded companies on this list. This excludes private French firm CMA CGM, whose annual revenue of $47.02 billion in 2023 places it in strong competition with the others listed here.
1. Amazon.com, Inc. – $1.79 Trillion
The first company on this list does much more than logistics, but its revenue from third-party logistics solutions exceeds the next-largest logistics company, UPS, by over 50%.
Amazon made $118 billion from third-party seller services in 2022, making it the world’s leading logistics company according to Supply Chain Digest.
In 2023, Amazon’s revenue in this category jumped to $140 billion, while UPS fell to $91 billion.
Amazon has two main business units that provide logistics services: Fulfillment by Amazon (FBA), which handles fulfillment for Marketplace customers, and Amazon Multi-Channel Fulfillment, which lets sellers fulfill orders from other sales channels. Both are part of its wider supply chain management services.
This video explains some of the systems and technology that go into shipping millions of packages a day at Amazon if you’re interested in learning more:
| Company Name | Amazon.com, Inc. |
| Founded | 1994 |
| Headquarters | Seattle, Washington, USA |
| Market Cap | $1.79 trillion |
| Traded On | Nasdaq (AMZN) |
2. United Parcel Service, Inc. (UPS) – $108.29 Billion
United Parcel Service, Inc., more commonly known as UPS, started life in 1907 as the American Messenger Company. Packages were delivered on foot and by bicycle until 1913, when the Ford Model T was introduced as the first delivery vehicle.
The company changed its name to United Parcel Service in 1919 and adopted its signature brown color to represent “class, sophistication, and professionalism”.
Now, operating in over 220 countries and territories worldwide, UPS employs a workforce of around half a million people.
It operates a fleet of around 135,000 delivery vehicles, including 18,000 that use alternative fuel and advanced technology – part of its goal to reach carbon neutrality by 2050.
UPS delivered an average of 19 million domestic packages per day in 2023, as well as over 3 million international deliveries daily.
| Company Name | United Parcel Service, Inc. |
| Founded | 1907 |
| Headquarters | Atlanta, Georgia, USA |
| Market Cap | $108.29 billion |
| Traded On | Nasdaq (UPS) |
3. FedEx Corporation – $69.41 Billion
FedEx is another global leader in package delivery, specializing in overnight courier services and international freight logistics.
On its first day of operations in 1973, Federal Express Corporation (as it was then known) delivered 186 packages to 25 US cities using 14 aircraft. As of FY24, it had a fleet of around 700 aircraft and delivered an average of 14.7 million packages per day.
The company’s business segments include:
- FedEx Express: Air freight services offering overnight, time-definite deliveries to every US street address and international express shipping.
- FedEx Ground: Day-certain B2B and residential delivery in the US and Canada.
- FedEx Freight: Less-than-truckload (LTL) freight services in North America with Priority and Economy options, including for bulky ecommerce deliveries.
- FedEx Logistics: Integrated air and ocean freight logistics management and solutions.
FedEx is working to become carbon neutral by 2040 and has already introduced 7,000 electric vehicles to its network. By modernizing its aircraft fleet, it has been able to conserve fuel and reduce emissions.
In 2019, FedEx introduced a same-day delivery robot named Roxo. This program was ended in 2022 as it “did not meet necessary near-term value requirements”. A FedEx plane supplied by Boeing had a hard landing at Istanbul Airport when its front landing gear failed to deploy. Investigations are ongoing as to the reasons for the crash.
Despite the company’s success, it often comes under criticism for its poor service. In fact, it has become the unfortunate joke of many memes on social media:
https://www.tiktok.com/@josh.zilberberg/video/6820837027035090181
| Company Name | FedEx Corporation |
| Founded | 1971 |
| Headquarters | Memphis, Tennessee, USA |
| Market Cap | $69.41 billion |
| Traded On | NYSE (FDX) |
4. Deutsche Post AG (DHL Group) – $47.42 Billion (€43.07 Billion)
Deutsche Post (DHL Group) is headquartered in Bonn, Germany. It has its roots in the state-owned German postal system, Deutsche Bundespost, which was reformed and privatized in 1995, resulting in Deutsche Post and two other companies.
Deutsche Post began acquiring shares in courier company DHL in 1998 and gained a majority interest in 2002. Later that year, DHL became a fully-owned subsidiary of Deutsche Post.
The rebrand to DHL Group came in July 2023 to reflect the fact that 90% of the logistics company’s revenue came from the brand. Its stock ticker changed from DPW to DHL to reflect the new trading name.
The group is organized into five divisions:
- Express: Door-to-door transportation of urgent documents and goods, with 295 aircraft servicing 220 countries and territories.
- Global Forwarding, Freight: Overland, air, and ocean freight forwarding internationally. 1.7 million tons of export air freight and 3.1 million 20-foot container units were transported in 2023.
- Supply Chain: Contract logistics services and supply chain management in 50+ countries. DHL holds a 6% market share, around double that of its nearest competitor.
- Ecommerce: Domestic and international parcel transport operating in North America, Europe, and parts of Asia.
- Post & Parcel Germany: German postal services handling 46 million letters and 6.3 million parcels per working day.
DHL Group recorded revenue of $81.76 billion, which was down 13.4% from the previous year but flat compared to 2021.
| Company Name | Deutsche Post AG (DHL Group) |
| Founded | 1995 |
| Headquarters | Bonn, Germany |
| Market Cap | $47.42 billion (€43.07 billion) |
| Traded On | XETRA (DHL.DE) |
5. Old Dominion Freight Line, Inc. – $41.36 Billion
Founded in 1934 by a husband and wife with a single truck, Old Dominion Freight Line (ODFL) has grown to one of the world’s largest logistics companies with a fleet of over 57,000 tractors and trailers.
ODFL’s core business is less-than-truckload (LTL) shipping, including expedited shipping regionally and nationally within the US. This accounted for 99% of its $5.87 billion revenue in 2023, with the remainder coming from other services such as truckload brokerage and supply chain consulting.
ODFL has 23,000 full-time employees and operates 260 service centers across 48 states. Through its growth, it has managed to retain a small business approach to customer experience, with a 99.4% on-time delivery rate.
In 2024, it received its 15th consecutive Quest for Quality Award from Logistics Management, ranking #1 in the National LTL category. ODFL also features in Forbes’ list of America’s Best Large Employers 2024, coming in 50th place overall and #2 in the Transportation and Logistics category.
| Company Name | Old Dominion Freight Line, Inc. |
| Founded | 1934 |
| Headquarters | Thomasville, North Carolina, USA |
| Market Cap | $41.36 billion |
| Traded On | Nasdaq (ODFL) |
6. DSV A/S – $38.48 Billion (260.81 Billion DKK)
In 1976, nine independent trucking companies in Denmark joined forces to become DSV. The name is an acronym of De Sammensluttede Vognmænd, which translates as “The joint Hauliers”.
The company initially only handled contract haulage and deliveries, but soon expanded into the international transport market through a series of acquisitions. In 2001, it split into three divisions: road, air and sea, and solutions.
DSV now has a strong presence on all five continents and is the third-largest global freight forwarder in the world with a 4% market share.
DSV is one of the most innovative companies in the market when it comes to sustainability, with a focus on “Green Logistics” that includes sustainable warehousing, CO2 reporting, and sustainable fuel offerings. Its automated fulfillment warehouses use robots that generate their own energy as they lower bins or reduce speed, and the space needed for these facilities is about a quarter of that of traditional warehousing.
In 2023, DSV Energy was launched to focus on green energy production at DSV facilities, primarily by installing rooftop solar panels.
| Company Name | DSV A/S |
| Founded | 1976 |
| Headquarters | Hedehusene, Denmark |
| Market Cap | $38.48 billion (260.81 billion DKK) |
| Traded On | Nasdaq Copenhagen (DSV.CO) |
7. Kuehne Nagel International AG – $35.12 Billion (30.40 Billion CHF)
Headquartered in Switzerland, Kuehne + Nagel is a global transportation and logistics company with 1,300 locations in over 100 countries. It is the oldest of the 10 top logistics companies, having been founded in 1890 in Germany.
Kuehne + Nagel is the world’s top global freight forwarder, according to Armstrong & Associates, Inc, with 4.34 million 20-foot equivalent units (TEUs) shipped and 1.98 million metric tons transported by air in 2023.
Kuehne + Nagel’s efforts in sustainability extend beyond its own operations to those of its customers. For instance, by using sustainable aviation fuel (SAF) in its air freight transportation services for Mercedes-Benz, it has reduced the vehicle manufacturer’s CO2 emissions by 11,000 tonnes in 12 months.
Following the trend of much of the logistics industry as it normalizes post-pandemic, Kuehne + Nagel’s revenue peaked in 2022 and fell significantly to $30.82 billion (26.69 billion CHF) in 2023.
| Company Name | Kuehne + Nagel International AG |
| Founded | 1890 |
| Headquarters | Schindellegi, Switzerland |
| Market Cap | $35.12 billion (30.40 billion CHF) |
| Traded On | SIX (KNIN.SW) |
8. Hapag-Lloyd Aktiengesellschaft – $29.51 Billion (€26.80 Billion)
Hapag-Lloyd was founded in 1970 through the merger of two German shipping companies, Hamburg-American Line (HAPAG) and Norddeutscher Lloydwhich, which had both been operating since the mid-1850s.
Today, Hapag-Lloyd ranks #1 of the top 10 shipping companies and is the 8th largest logistics company in the world by market value.
The firm has 287 vessels in operation with a capacity of 2.2 million TEU and a container capacity of 3.2 million TEU.
Hapag-Lloyd aims to keep a competitive edge by focusing on quality, ensuring that customers receive best-in-class service at reasonable costs. Its live tracking technology lets businesses view the real-time location of their shipments, aiding inventory management and allowing for data-driven decisions.
It is also working to achieve a net-zero carbon footprint by 2045 by introducing biofuels and other initiatives for a sustainable supply chain.
| Company Name | Hapag-Lloyd Aktiengesellschaft |
| Founded | 1970 |
| Headquarters | Hamburg, Germany |
| Market Cap | $29.51 billion (€26.80 billion) |
| Traded On | XETRA (HLAG.DE) |
9. A.P. Møller – Mærsk A/S – $24.27 Billion (164.52 Billion DKK)
A.P. Møller – Mærsk is a Danish shipping and logistics company usually just called Maersk. It employs over 100,000 people and services customers in 130 countries with a fleet of 700 container vessels. It is so widespread in the logistics industry that you have probably seen the Maersk logo on a shipping container before.
As well as international shipping, Maersk operates 65 terminals and offers logistics services and warehousing, with 7,800k+ sqm capacity across 460 sites worldwide.
66% of Maersk’s 2023 revenue came from its ocean operations, while 27% came from logistics and services.
Until 2016, Maersk also operated profitable oil, gas, and drilling businesses. However, after a decision to focus on becoming a full-service logistics company, it began selling its energy businesses in 2017. The final divestment was completed in 2023, with a further sale of its maritime services division, Maersk Supply Service, agreed in June 2024 with DOF Group.
Maersk is another company investing in a sustainable future. In 2021, the company spent $1.4 billion to purchase 8 container ships that could run on green methanol as well as conventional fuels. The first of these, named Laura Mærsk, began service in 2023 as the world’s first methanol-enabled container vessel.
| Company Name | A.P. Møller – Mærsk A/S |
| Founded | 1904 |
| Headquarters | Copenhagen, Denmark |
| Market Cap | $24.27 billion (164.52 billion DKK) |
| Traded On | Nasdaq Copenhagen (MAERSK-B.CO) |
10. China COSCO Shipping Corporation Limited – $26.29 Billion (204.854 Billion HKD)
COSCO Shipping is the youngest of these logistics companies, having been founded in 2016 from the merger of China Ocean Shipping (Group) Company (COSCO) and China Shipping (Group) Company. It is also the only one headquartered in Asia.
COSCO is a state-owned Chinese multinational company focused on maritime transportation and logistics. Its revenue in 2023 was $24.9 billion with a net profit of $3.4 billion, compared to $58.1 billion with a net profit of $16.3 billion in 2022.
The company operates a fleet of over 1,400 vessels with a total capacity of 116 million deadweight tonnage (DWT) and a container capacity of 3.05 million TEU.
In its efforts to expand internationally, COSCO purchased a 51% share in Greece’s largest port, Piraeus, in 2016. In 2021, it increased this share to 67%. The company processed 135.8 million TEUs through its ports in 2023, of which 24% was through its overseas ports.
COSCO’s efforts towards sustainability include installing solar panels at its ports and launching the world’s first fully electric 700 TEU container ship, which can cover up to 600 nautical miles without having to recharge.
| Company Name | COSCO SHIPPING Holdings Co., Ltd. |
| Founded | 2005 |
| Headquarters | Shanghai, China |
| Market Cap | $26.29 billion (204.85 billion HKD) |
| Traded On | HKSE (1919.HK) |
Learning From the Biggest Logistics Companies in the World
Despite Asia Pacific holding a 44% market share of the logistics industry by revenue, only one of the top logistics companies listed here is headquartered in the region. As the region’s infrastructure catches up with North America and Europe, and its ecommerce industry continues to develop, perhaps we will see some changes in this ranking in the years to come.
The transportation and logistics industry accounts for over one-third of global CO2 emissions, which means these companies have a crucial role to play in the transition to a zero-carbon world. It’s promising to see that so many of them are investing in sustainable supply chain solutions such as renewable energy, biofuels, electric vehicles, and distribution efficiencies.