Market Size of asia pacific freight and logistics Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 2.52 Trillion |
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Market Size (2030) | USD 3.67 Trillion |
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Largest Share by Logistics Function | Freight Transport |
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CAGR (2024 - 2030) | 6.46 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Freight and Logistics Market Analysis
The Asia Pacific Freight and Logistics Market size is estimated at 2.52 trillion USD in 2024, and is expected to reach 3.67 trillion USD by 2030, growing at a CAGR of 6.46% during the forecast period (2024-2030).
2.52 Trillion
Market Size in 2024 (USD)
3.67 Trillion
Market Size in 2030 (USD)
5.30 %
CAGR (2017-2023)
6.46 %
CAGR (2024-2030)
Fastest Growing Market by Mode of Transport
7.42 %
Projected CAGR, Air, 2024-2030
India's Airports Authority and private operators are set to invest a staggering USD 11 billion by 2025. Thanks to the expanding Regional Connectivity Scheme, plans are in motion to develop smaller airports.
Largest CEP Market by Destination
64.62 %
value share, Domestic, 2023
E-commerce has been the key catalyst for the growth of the domestic CEP segment. The e-commerce market in the region grew by 6.8% YoY and reached USD 1.65 trillion in 2023.
Largest Country
48.61 %
value share, China, 2023
China mapped the 14th Five-Year Plan (2021-2025) to enhance transportation and logistics. Also, from January to August 2022, investments in transportation increased by 6.6% YoY.
Largest Market by End User Industry
36.04 %
value share, Manufacturing, 2023
In 2023, the investment in China's electronic information manufacturing sector witnessed a 9.3% YoY growth. Notably, mobile phone production surged by 6.9% YoY, reaching 1.57 billion units.
Fastest Growing Warehousing Market by Temperature Control
6.23 %
Projected CAGR, Temperature Controlled, 2024-2030
The pharmaceuticals market has been a significant driver of cold storage demand. The OTC pharmaceuticals market in India is expected to register a CAGR of 10.95% from 2024 to 2029.
Asian Development Bank assists the infrastructure development in the country, boosting freight transport demand
- Since March 2023, two major container truck yards in Zhejiang province, China, near Ningbo, have grappled with an excess of nearly 3,000 idle vehicles. These yards, Hengpu and Beilun, are closely tied to the port's operations. However, they have experienced a notable decline in traffic over the past two years. The accumulation of containers can be attributed to factors such as China's low storage costs, a surge in container supply during the pandemic's export boom, and a significant number of containers returning after the boom subsided.
- In the twelve months leading up to June 2022, the Asia-Pacific transportation, infrastructure, and logistics sectors witnessed the announcement of 36 equity offering deals, both pending and completed. These deals collectively accounted for a value exceeding USD 13,046.6 million. June 2021 emerged as the standout month, boasting a total deal value of USD 4,609.7 million, translating to an average deal value of USD 1,152.4 million for that month. Conversely, August 2021 recorded the highest deal volume, with nine deals and an average value of USD 255.4 million.
- The Asian Development Bank (ADB) is actively supporting Pacific DMCs (Developing Member Countries) in their endeavors related to connectivity infrastructure, including planning, construction, and maintenance. Transport projects alone account for over 59% of the ADB's portfolio in the Pacific. This robust support from the ADB is fostering a more robust and sustainable growth trajectory in the Pacific region. Looking ahead, ADB's investments in the Pacific's transportation sector are projected to surpass USD 1.6 billion, with 22 projects slated for funding during 2022–2024, including a notable USD 115 million in co-financing.
Building a sustainable and resilient freight and logistics sector in the Asia Pacific region
- In India, transportation costs dominate the logistics landscape, accounting for 62% of overall logistics costs and 14% of the country's GDP. Given that diesel fuel costs make up the lion's share of transportation expenses, the adoption of zero-emission trucks (ZETs) can significantly slash fuel costs by up to 46% over the vehicle's lifespan. This has far-reaching implications for India's economy. Notably, road freight, which already accounts for over a quarter of oil import expenses, is projected to surge fourfold by 2050. By embracing ZETs, India could potentially save a staggering 838 billion liters of diesel by 2050, translating to a reduction of USD 140.17 billion in oil expenditures.
- The logistics market in Asia-Pacific, valued at around USD 3.9 trillion, holds the global crown. Bolstered by rising demand from the manufacturing sector and a projected uptick in e-commerce space requirements, India is poised to spearhead warehousing growth in the region. In 2023, India was set to add a substantial 30 million square feet of warehousing space, accounting for over a third of the region's total of 86 million square feet. Meanwhile, Australia was expected to lead the pack with a rental growth of approximately 12% in 2023. The region's warehouse demand is further fueled by its robust digital sales, which surpassed USD 2.992 trillion in 2021.
- With a confluence of factors such as limited new supply, outdated facilities, and evolving consumer preferences driven by the surge in online retail, investments in cold storage properties in the Asia-Pacific were projected to hit USD 5 billion annually by 2032. This surge is primarily driven by the escalating demand for cold chain warehousing in the region.
Asia Pacific Freight and Logistics 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. Courier, Express, and Parcel (CEP), Freight Forwarding, Freight Transport, Warehousing and Storage are covered as segments by Logistics Function. Australia, China, India, Indonesia, Japan, Malaysia, Thailand, Vietnam are covered as segments by Country.
- Since March 2023, two major container truck yards in Zhejiang province, China, near Ningbo, have grappled with an excess of nearly 3,000 idle vehicles. These yards, Hengpu and Beilun, are closely tied to the port's operations. However, they have experienced a notable decline in traffic over the past two years. The accumulation of containers can be attributed to factors such as China's low storage costs, a surge in container supply during the pandemic's export boom, and a significant number of containers returning after the boom subsided.
- In the twelve months leading up to June 2022, the Asia-Pacific transportation, infrastructure, and logistics sectors witnessed the announcement of 36 equity offering deals, both pending and completed. These deals collectively accounted for a value exceeding USD 13,046.6 million. June 2021 emerged as the standout month, boasting a total deal value of USD 4,609.7 million, translating to an average deal value of USD 1,152.4 million for that month. Conversely, August 2021 recorded the highest deal volume, with nine deals and an average value of USD 255.4 million.
- The Asian Development Bank (ADB) is actively supporting Pacific DMCs (Developing Member Countries) in their endeavors related to connectivity infrastructure, including planning, construction, and maintenance. Transport projects alone account for over 59% of the ADB's portfolio in the Pacific. This robust support from the ADB is fostering a more robust and sustainable growth trajectory in the Pacific region. Looking ahead, ADB's investments in the Pacific's transportation sector are projected to surpass USD 1.6 billion, with 22 projects slated for funding during 2022–2024, including a notable USD 115 million in co-financing.
| End User Industry | |
| Agriculture, Fishing, and Forestry | |
| Construction | |
| Manufacturing | |
| Oil and Gas, Mining and Quarrying | |
| Wholesale and Retail Trade | |
| Others |
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| Other Services |
| Country | |
| Australia | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Thailand | |
| Vietnam | |
| Rest of Asia Pacific |
Asia Pacific Freight and Logistics Market Size Summary
The Asia Pacific Freight and Logistics Market is poised for significant growth, driven by increasing demand from the manufacturing sector and the expansion of e-commerce. The region, which holds a dominant position globally, is experiencing a surge in warehousing needs, particularly in India, where substantial new space is being added. This growth is further supported by investments in connectivity infrastructure, with the Asian Development Bank playing a crucial role in enhancing transport projects across the Pacific. The market is characterized by a fragmented landscape, with major players like DHL Group and NYK Line leading the charge. The adoption of zero-emission trucks in India highlights the region's commitment to sustainable logistics solutions, aiming to reduce fuel costs and environmental impact.
The logistics sector in Asia Pacific is also navigating challenges such as rising oil prices and geopolitical uncertainties, which have implications for freight costs and operational expenses. Despite these challenges, the region's strategic importance is underscored by its role in global trade, with two-thirds of seaborne trade and a significant portion of surface freight transport flows originating from Asia Pacific. The market's growth trajectory is supported by policy measures and infrastructure developments, including networks like the Asian Highway and Trans-Asian Railway, which enhance land transport connectivity. As the region continues to evolve, investments in cold storage and digital sales are expected to drive further expansion, reflecting changing consumer preferences and the increasing demand for cold chain warehousing.
Asia Pacific Freight and Logistics Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes 1. Market value in USD for all segments 2. Market volume for select segments viz. freight transport, CEP (courier, express, and parcel) and warehousing & storage 3.Forecasts up to 2029 and analysis of growth prospects)
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1.1 End User Industry
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1.1.1 Agriculture, Fishing, and Forestry
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1.1.2 Construction
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1.1.3 Manufacturing
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1.1.4 Oil and Gas, Mining and Quarrying
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1.1.5 Wholesale and Retail Trade
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1.1.6 Others
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1.2 Logistics Function
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1.2.1 Courier, Express, and Parcel (CEP)
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1.2.1.1 By Destination Type
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1.2.1.1.1 Domestic
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1.2.1.1.2 International
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1.2.2 Freight Forwarding
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1.2.2.1 By Mode Of Transport
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1.2.2.1.1 Air
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1.2.2.1.2 Sea and Inland Waterways
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1.2.2.1.3 Others
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1.2.3 Freight Transport
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1.2.3.1 By Mode Of Transport
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1.2.3.1.1 Air
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1.2.3.1.2 Pipelines
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1.2.3.1.3 Rail
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1.2.3.1.4 Road
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1.2.3.1.5 Sea and Inland Waterways
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1.2.4 Warehousing and Storage
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1.2.4.1 By Temperature Control
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1.2.4.1.1 Non-Temperature Controlled
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1.2.4.1.2 Temperature Controlled
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1.2.5 Other Services
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1.3 Country
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1.3.1 Australia
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1.3.2 China
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1.3.3 India
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1.3.4 Indonesia
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1.3.5 Japan
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1.3.6 Malaysia
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1.3.7 Thailand
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1.3.8 Vietnam
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1.3.9 Rest of Asia Pacific
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Asia Pacific Freight and Logistics Market Size FAQs
How big is the Asia Pacific Freight and Logistics Market?
The Asia Pacific Freight and Logistics Market size is expected to reach USD 2520.13 billion in 2024 and grow at a CAGR of 6.46% to reach USD 3669.70 billion by 2030.
What is the current Asia Pacific Freight and Logistics Market size?
In 2024, the Asia Pacific Freight and Logistics Market size is expected to reach USD 2520.13 billion.
