Market Size of Hungary Freight And Logistics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Hungary Freight & Logistics Market Analysis
The Hungary Freight And Logistics Market is expected to register a CAGR of greater than 6% during the forecast period.
- The net turnover of the logistics service providers in Hungary is around HUF 3,400 billion (USD 9.8 billion), which accounts for nearly 5% of the total net turnover of the national economy. Currently, there are 40,000 logistics companies in Hungary, of which a significant portion are small and medium-sized enterprises. The Hungarian logistics sector employs 259 thousand people, which is around 6.5% of the total employment in the country's labor force. The logistics sector accounts for 6.3% of the Hungarian gross domestic product.
- Due to its geographical position, Hungary occupies a central position in Europe. The country is crossed by four Trans-European Transport Corridors (TEN-T), each reaching the capital. Hungary currently has four fully operational rail freight corridors: Orient-East Med, Mediterranean, Amber, and Rhine-Danube. It is also located at the intersection of two European Rail Traffic Management System (ERTMS) lines.
- Therefore, the country is acting as a ferry linking the European Union with the rest of Europe from the south (Serbia) and the north (Ukraine). This makes Hungary one of the most important transport hubs, providing easy access to all parts of Europe by rail, road, air, and water transport.
- Over the years, the government has made huge investments in all modes of transport (rail, road, air, and water) to develop them to their most efficient level of functioning. Further, the Hungarian government has budgeted to spend HUF 3,200 billion (USD 8.64 billion) on road development and HUF 1,500 billion (USD 4 billion) on railway development in 2022. So, for the next few years, extraordinary developments are expected on the entire Hungarian road and rail network, which drives the freight and logistics industry.
Hungary Freight & Logistics Industry Segmentation
The freight and logistics industry is associated with the movement and transportation of goods, whether by truck, car, rail, ocean liner, or any other form of transportation. Logistics is the management of the flow of things between the point of origin and the point of consumption to meet the requirements of customers or businesses.
The Freight and Logistics Market in Hungary is segmented by Function, by end-user, others. By function the market is segmented by freight transport, freight forwarding, warehousing, value-added services, and other functions and by end-user the market is segmented by manufacturing and automotive, oil and gas, mining and quarrying, agriculture, fishing, and forestry, construction, distributive trade (wholesale and retail segments - FMCG included), others (telecommunications, pharmaceuticals, and healthcare, food and beverage). The report offers market size and forecasts in value (USD) for all the above segments.
| By Function | ||||||
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| Freight Forwarding | ||||||
| Warehousing | ||||||
| Value-added Services and Other Functions |
| By End User | |
| Manufacturing and Automotive | |
| Oil and Gas | |
| Mining and Quarrying | |
| Agriculture, Fishing, and Forestry | |
| Construction | |
| Distributive Trade (Wholesale and Retail Segments - FMCG included) | |
| Other End Users (Telecommunications, Food and Beverage, and Pharmaceuticals) |
Hungary Freight And Logistics Market Size Summary
The Hungary freight and logistics market is poised for significant growth, driven by its strategic geographical position in Europe and robust infrastructure developments. The country serves as a crucial transport hub, linking the European Union with neighboring regions through its extensive network of rail, road, air, and water transport corridors. The Hungarian logistics sector is a vital component of the national economy, contributing substantially to GDP and employment. The government's substantial investments in transport infrastructure, including road and railway enhancements, are expected to further bolster the industry's efficiency and capacity. This growth is also supported by the increasing penetration of e-commerce, which is generating heightened demand for logistics services, thereby presenting lucrative opportunities for market players.
The market landscape in Hungary is characterized by a high degree of fragmentation, with numerous small and medium-sized enterprises alongside larger players. The ongoing developments in both indoor and transport logistics are creating new opportunities for existing and new entrants in the market. The government's initiatives to improve logistics capabilities are attracting foreign investments and encouraging the establishment of logistics centers, such as the one by Yusen Logistics in Budapest. Additionally, the expansion of intermodal transport options and the establishment of logistics bases, like the one in Trieste, are facilitating more efficient goods movement across Europe. Major companies, including C.H Robinson and Dachser, are actively expanding their operations in Hungary, further underscoring the market's growth potential.
Hungary Freight And Logistics Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Market Scenario
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1.2 Technological Trends
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1.3 Government Regulations and Initiatives
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1.4 Insights into the E-commerce Industry (Domestic and Cross-border E-commerce)
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1.5 Insights into Intermodal Transportation and Dry Ports
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1.6 Brief on Freight Transportation Costs/Freight Rates, Warehousing Rents in Hungary
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1.7 Elaboration on the E-commerce Logistics and Courier, Express, and Parcel (CEP) Industry in Hungary
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1.8 Brief on Transport Corridors
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1.9 Spotlight on Regional Logistics Markets
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1.10 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Function
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2.1.1 Freight Transport
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2.1.1.1 Road
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2.1.1.2 Shipping and Inland Water
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2.1.1.3 Air
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2.1.1.4 Rail
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2.1.2 Freight Forwarding
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2.1.3 Warehousing
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2.1.4 Value-added Services and Other Functions
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2.2 By End User
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2.2.1 Manufacturing and Automotive
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2.2.2 Oil and Gas
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2.2.3 Mining and Quarrying
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2.2.4 Agriculture, Fishing, and Forestry
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2.2.5 Construction
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2.2.6 Distributive Trade (Wholesale and Retail Segments - FMCG included)
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2.2.7 Other End Users (Telecommunications, Food and Beverage, and Pharmaceuticals)
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Hungary Freight And Logistics Market Size FAQs
What is the current Hungary Freight And Logistics Market size?
The Hungary Freight And Logistics Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Hungary Freight And Logistics Market?
C.H Robinson, Rohlig Logistics, Yusen Logistics, ADR Logistics Ltd and BI-KA Logisztika Kft are the major companies operating in the Hungary Freight And Logistics Market.
