ASEAN Road Freight Transport Market Size

The ASEAN Road Freight Transport Market is projected to experience significant growth over the forecast period, driven by various factors across the region. Indonesia leads in trade volumes, with its manufacturing sector contributing substantially to economic growth, while Thailand's automotive industry, supported by favorable government policies, enhances its position as a key manufacturing hub. Malaysia is also strengthening its logistics infrastructure to boost competitiveness. The expansion of e-commerce and increased exploration activities further support the market's expansion, indicating a robust trajectory for the ASEAN road freight transport sector.

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Market Size of asean road freight transport Industry

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ASEAN Road Freight Transport Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2030
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 111.90 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2030) USD 160.11 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by End User Industry Manufacturing
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2030) 6.15 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country Indonesia

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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ASEAN Road Freight Transport Market Analysis

The ASEAN Road Freight Transport Market size is estimated at 111.90 billion USD in 2024, and is expected to reach 160.11 billion USD by 2030, growing at a CAGR of 6.15% during the forecast period (2024-2030).

111.90 Billion

Market Size in 2024 (USD)

160.11 Billion

Market Size in 2030 (USD)

4.84 %

CAGR (2017-2023)

6.15 %

CAGR (2024-2030)

Largest Market by Distance

73.38 %

value share, Long Haul, 2023

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A significant rise in exports and imports is a prominent factor that is driving the demand for long-haul trucking. For instance, exports registered a growth of 22.32% YoY in 2022.

Largest Market by Goods Configuration

64.53 %

value share, Solid Goods, 2023

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Solid goods dominate the market, as industries such as construction, textiles, machinery, electronics, and automobiles, majorly contribute to the demand for road freight services.

Largest Market by End User Industry

32.70 %

value share, Manufacturing, 2023

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Indonesia’s government aims to attract over USD 50 billion in foreign investments over the next decade, particularly for special economic zones (SEZ)-oriented manufacturing.

Fastest Growing Market by Truckload Specification

6.88 %

Projected CAGR, Less than-Truck-Load (LTL), 2024-2030

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The LTL segment's growth is attributable to the booming e-commerce industry. Asia-Pacific’s e-commerce is expected to register a CAGR of 11.16% during 2023-2027.

First Leading Market Player

1.06 %

market share, Kerry Logistics Network Limited, 2022

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Kerry Express (a subsidiary of SF Express) has offices across Thailand, Vietnam, Hong Kong, Taiwan, Malaysia, and Indonesia and handles more than 15 million boxes per month.

Thailand aims for 30% of the total vehicle production to account for electric cars by 2030 through the Electric Vehicle Policy

  • Indonesia’s manufacturing industry grew by 5.01% in 2022. It was the strongest component of the country’s economic growth in terms of productivity. Moreover, Thailand is one of the largest automotive manufacturers in Southeast Asia, producing over 2 million vehicles annually for various household brands. The country's Electric Vehicle Policy aims for 30% of the total vehicle production to account for electric cars by 2030. The Thai government successfully attracted major automotive brands, such as Japanese, European, and US manufacturers, to set up production and export bases in Thailand.
  • The retail sales of consumer goods and services in Vietnam reached USD 242 billion in 2022, a surge of 19.8% compared to the same period in the previous year. This was also a 15% increase from 2019. Despite the pandemic’s impact, the retail industry in Vietnam recovered fully and is expected to grow. Both domestic and foreign retailers sped up their businesses in 2022 with post-pandemic plans to further tap the country’s growing middle-income group, creating a booming year for the industry. For instance, Aeon, Japan’s largest retailer, is accelerating the opening of malls and stores in Vietnam to expand its presence.
  • During the period 2023-2027, the ASEAN e-commerce market is projected to register a CAGR of 11.11%. This growth in the e-commerce market is expected to boost the wholesale and retail trade end-user segment. Moreover, the increase in exploration and production activities is expected to drive the growth of the oil and gas, mining, and quarrying segment. For instance, Indonesia aims to increase its crude oil lifting to 1 million bpd by 2030 and boost efforts to attract investment.
ASEAN Road Freight Transport Market

Growing demand for trucking services is supported by rising e-commerce sales and infrastructure development in the industry

  • Indonesia is the leader in the ASEAN region in terms of trade volumes. In June 2023, DHL Express expanded its electric fleet in Indonesia with 24 electric transporter vans. The new electric delivery vans will be used in the capital, Jakarta and Bandung. The delivery fleet will also be electrified beyond this. The 24 electric transporters will not be the first electric vehicles in the logistics company's Indonesian fleet. So far, DHL Express has four electric vans and six electric bikes in operation in Indonesia, serving areas in Jakarta and Surabaya.
  • Thailand holds the second position in the ASEAN region in terms of trade volumes. Thailand offers excellent investment potential as a leading automotive production base in the ASEAN region, a fast-developing region for the automotive manufacturing industry. Over 50 years, the country has developed from an assembler of auto parts and components into a top automotive manufacturing and export hub. With shipments bound for around 100 countries, Thailand is the 13th-largest automotive parts exporter, the sixth-largest commercial vehicle manufacturer globally, and the largest in the ASEAN region.
  • Malaysia comes third in the ASEAN region in terms of trade volumes. Malaysia's transport infrastructure and logistics services will be further strengthened under the 12th Malaysia Plan (12MP) during 2021-2025. Under the plan, as part of efforts to drive the transport and logistics industry toward competitiveness, the government aims to be in the top 10 rankings of the World Container Port's Report and top 30 ranks in the World Bank Logistics Performance Index by 2025. Putrajaya (a city in Malaysia) is aiming for a 10% increase in cargo volume via rail in the northern, central, and southern regions of the country.

ASEAN Road Freight Transport Industry Segmentation ASEAN Road Freight Transport Industry Segmentation

Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others are covered as segments by End User Industry. Domestic, International are covered as segments by Destination. Full-Truck-Load (FTL), Less than-Truck-Load (LTL) are covered as segments by Truckload Specification. Containerized, Non-Containerized are covered as segments by Containerization. Long Haul, Short Haul are covered as segments by Distance. Fluid Goods, Solid Goods are covered as segments by Goods Configuration. Non-Temperature Controlled, Temperature Controlled are covered as segments by Temperature Control. Indonesia, Malaysia, Thailand, Vietnam are covered as segments by Country.

  • Indonesia’s manufacturing industry grew by 5.01% in 2022. It was the strongest component of the country’s economic growth in terms of productivity. Moreover, Thailand is one of the largest automotive manufacturers in Southeast Asia, producing over 2 million vehicles annually for various household brands. The country's Electric Vehicle Policy aims for 30% of the total vehicle production to account for electric cars by 2030. The Thai government successfully attracted major automotive brands, such as Japanese, European, and US manufacturers, to set up production and export bases in Thailand.
  • The retail sales of consumer goods and services in Vietnam reached USD 242 billion in 2022, a surge of 19.8% compared to the same period in the previous year. This was also a 15% increase from 2019. Despite the pandemic’s impact, the retail industry in Vietnam recovered fully and is expected to grow. Both domestic and foreign retailers sped up their businesses in 2022 with post-pandemic plans to further tap the country’s growing middle-income group, creating a booming year for the industry. For instance, Aeon, Japan’s largest retailer, is accelerating the opening of malls and stores in Vietnam to expand its presence.
  • During the period 2023-2027, the ASEAN e-commerce market is projected to register a CAGR of 11.11%. This growth in the e-commerce market is expected to boost the wholesale and retail trade end-user segment. Moreover, the increase in exploration and production activities is expected to drive the growth of the oil and gas, mining, and quarrying segment. For instance, Indonesia aims to increase its crude oil lifting to 1 million bpd by 2030 and boost efforts to attract investment.
End User Industry
Agriculture, Fishing, and Forestry
Construction
Manufacturing
Oil and Gas, Mining and Quarrying
Wholesale and Retail Trade
Others
Destination
Domestic
International
Truckload Specification
Full-Truck-Load (FTL)
Less than-Truck-Load (LTL)
Containerization
Containerized
Non-Containerized
Distance
Long Haul
Short Haul
Goods Configuration
Fluid Goods
Solid Goods
Temperature Control
Non-Temperature Controlled
Temperature Controlled
Country
Indonesia
Malaysia
Thailand
Vietnam
Rest of ASEAN
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ASEAN Road Freight Transport Market Size Summary

The ASEAN Road Freight Transport Market is poised for significant growth, driven by the region's robust economic activities and strategic initiatives in various countries. Indonesia, Thailand, and Malaysia are key players in this market, with Indonesia leading in trade volumes and Thailand emerging as a major automotive manufacturing hub. The region's logistics and transport infrastructure is being bolstered by government plans and foreign direct investments, particularly in sectors like manufacturing and digital economy initiatives. The growth of e-commerce and the recovery of retail sectors, especially in Vietnam, further contribute to the increasing demand for road freight transport services. The market is characterized by a fragmented landscape with major logistics companies like DHL Group, K Line Logistics, and Kerry Logistics Network Limited playing pivotal roles.

The market's expansion is also influenced by advancements in infrastructure and the adoption of sustainable practices, such as the electrification of delivery fleets in Indonesia by DHL Express. However, challenges such as high logistics costs and fluctuating fuel prices pose obstacles to growth. Countries like Indonesia and Malaysia are investing heavily in infrastructure to enhance their logistics capabilities, aiming to position themselves as regional hubs. The ASEAN Road Freight Transport Market is expected to continue its upward trajectory, supported by ongoing investments, strategic partnerships, and the region's economic resilience.

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ASEAN Road Freight Transport Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Agriculture, Fishing, and Forestry

      2. 1.1.2 Construction

      3. 1.1.3 Manufacturing

      4. 1.1.4 Oil and Gas, Mining and Quarrying

      5. 1.1.5 Wholesale and Retail Trade

      6. 1.1.6 Others

    2. 1.2 Destination

      1. 1.2.1 Domestic

      2. 1.2.2 International

    3. 1.3 Truckload Specification

      1. 1.3.1 Full-Truck-Load (FTL)

      2. 1.3.2 Less than-Truck-Load (LTL)

    4. 1.4 Containerization

      1. 1.4.1 Containerized

      2. 1.4.2 Non-Containerized

    5. 1.5 Distance

      1. 1.5.1 Long Haul

      2. 1.5.2 Short Haul

    6. 1.6 Goods Configuration

      1. 1.6.1 Fluid Goods

      2. 1.6.2 Solid Goods

    7. 1.7 Temperature Control

      1. 1.7.1 Non-Temperature Controlled

      2. 1.7.2 Temperature Controlled

    8. 1.8 Country

      1. 1.8.1 Indonesia

      2. 1.8.2 Malaysia

      3. 1.8.3 Thailand

      4. 1.8.4 Vietnam

      5. 1.8.5 Rest of ASEAN

ASEAN Road Freight Transport Market Size FAQs

The ASEAN Road Freight Transport Market size is expected to reach USD 111.90 billion in 2024 and grow at a CAGR of 6.15% to reach USD 160.11 billion by 2030.

In 2024, the ASEAN Road Freight Transport Market size is expected to reach USD 111.90 billion.

ASEAN Road Freight Transport Market Report Snapshots

ASEAN Road Freight Transport Market Size & Share Analysis - Growth Trends & Forecasts Up To 2028