Market Size of thailand road freight transport Industry
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 20.37 Billion |
|
|
Market Size (2030) | USD 28.91 Billion |
|
Largest Share by End User Industry | Wholesale and Retail Trade |
|
|
CAGR (2024 - 2030) | 6.01 % |
|
|
Fastest Growing by End User Industry | Wholesale and Retail Trade |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Thailand Road Freight Transport Market Analysis
The Thailand Road Freight Transport Market size is estimated at 20.37 billion USD in 2024, and is expected to reach 28.91 billion USD by 2030, growing at a CAGR of 6.01% during the forecast period (2024-2030).
20.37 Billion
Market Size in 2024 (USD)
28.91 Billion
Market Size in 2030 (USD)
3.68 %
CAGR (2017-2023)
6.01 %
CAGR (2024-2030)
Largest Market by Distance
73.27 %
value share, Long Haul, 2023
The demand for long-haul trucking remained high during the review period, and it is expected to remain high during the forecast period.
Largest Market by Goods Configuration
61.31 %
value share, Solid Goods, 2023
As liquid goods only cover a limited range of items like oil, chemicals, and pharmaceuticals, they make up a relatively smaller part of the market. The solid goods sector is the largest product type segment in Thailand's road freight transport market.
Largest Market by End User Industry
36.79 %
value share, Wholesale and Retail Trade, 2023
The e-commerce market in Thailand is expected to record a CAGR of 10.88% during 2023-2027, driving the growth of the end-user industry.
Fastest Growing Market by Truckload Specification
6.73 %
Projected CAGR, Less than-Truck-Load (LTL), 2024-2030
During the forecast period, the LTL segment is anticipated to grow due to the booming e-commerce market that is expected to register a CAGR of 10% during 2023-2027.
First Leading Market Player
2.69 %
market share, Kerry Logistics Network Limited, 2022
Kerry (subsidiary of SF Express) operates more than 1,000 distribution centers and over 36,000 service locations in Thailand. The company manages facilities that cover more than 9.6 million sq ft.
Growing sales of retail products through the online distribution channel are driving the demand for road freight services
- Thailand's automotive industry has established itself as a major player in the global market, with auto parts and accessories accounting for a significant portion of its exports. In 2022 alone, the manufacturing segment earned a total of USD 37.6 billion, with auto parts and accessories contributing USD 15.6 billion. Thailand is also 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.
- Sales of retail products through the online distribution channel have grown substantially in recent times. Thailand has around 48.6 million internet users, an increase of 5.9 million between 2021 and 2022. Along with the rapidly increasing number of internet users in Thailand, the e-commerce market has shown significant growth and the ability to meet trendy online shoppers over the past years. During 2017-2021, the e-commerce market in Thailand recorded a CAGR of 46.14%. Online shopping in Thailand has become easier as various online payment platforms were introduced to Thai spenders, providing more convenience and swiftness to the e-commerce market.
- The rise in construction activities is also likely to drive the construction end-user segment. Large projects such as Southern Motorway (USD 2.19 billion), Western Motorway 9 (USD 1.5 billion), and the high-speed train project (USD 8.4 billion) are expected to drive construction in the country. Growth may continue to be supported by government plans to attract foreign investment and develop affordable housing, which is expected to drive the demand for road freight services.
Thailand Road Freight Transport Industry Segmentation Thailand 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.
- Thailand's automotive industry has established itself as a major player in the global market, with auto parts and accessories accounting for a significant portion of its exports. In 2022 alone, the manufacturing segment earned a total of USD 37.6 billion, with auto parts and accessories contributing USD 15.6 billion. Thailand is also 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.
- Sales of retail products through the online distribution channel have grown substantially in recent times. Thailand has around 48.6 million internet users, an increase of 5.9 million between 2021 and 2022. Along with the rapidly increasing number of internet users in Thailand, the e-commerce market has shown significant growth and the ability to meet trendy online shoppers over the past years. During 2017-2021, the e-commerce market in Thailand recorded a CAGR of 46.14%. Online shopping in Thailand has become easier as various online payment platforms were introduced to Thai spenders, providing more convenience and swiftness to the e-commerce market.
- The rise in construction activities is also likely to drive the construction end-user segment. Large projects such as Southern Motorway (USD 2.19 billion), Western Motorway 9 (USD 1.5 billion), and the high-speed train project (USD 8.4 billion) are expected to drive construction in the country. Growth may continue to be supported by government plans to attract foreign investment and develop affordable housing, which is expected to drive the demand for road freight services.
| 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 |
Thailand Road Freight Transport Market Size Summary
The Thailand Road Freight Transport Market is poised for significant growth, driven by the country's robust automotive industry and expanding e-commerce sector. Thailand's position as a leading automotive manufacturer in Southeast Asia, coupled with its strategic Electric Vehicle Policy, underscores the importance of road freight in supporting both domestic and international trade. The surge in internet users and the rapid expansion of e-commerce have further fueled the demand for efficient logistics and transport services. This growth is bolstered by substantial investments in infrastructure, including major construction projects and government initiatives aimed at attracting foreign investment and developing affordable housing. The logistics sector's contribution to the national GDP highlights its critical role in enhancing supply chain reliability and competitiveness across various industries.
Road freight remains the dominant mode of goods transport in Thailand, accounting for a significant portion of domestic transport activities. The government's commitment to investing in new transportation projects, including road and railway developments, reflects its focus on improving logistics capabilities. However, the market faces challenges such as fluctuating energy costs and global oil price volatility, which impact fuel prices and operational costs. Despite these challenges, the market is characterized by a fragmented landscape with key players like DHL Group, GC Logistics Solutions, GEODIS, Kerry Logistics Network Limited, and NYK Line leading the charge in adopting sustainable practices. Initiatives such as the introduction of electric vehicles for freight transport demonstrate a growing commitment to reducing carbon emissions and promoting environmental sustainability within the industry.
Thailand Road Freight Transport Market Size - Table of Contents
-
1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)
-
1.1 End User Industry
-
1.1.1 Agriculture, Fishing, and Forestry
-
1.1.2 Construction
-
1.1.3 Manufacturing
-
1.1.4 Oil and Gas, Mining and Quarrying
-
1.1.5 Wholesale and Retail Trade
-
1.1.6 Others
-
-
1.2 Destination
-
1.2.1 Domestic
-
1.2.2 International
-
-
1.3 Truckload Specification
-
1.3.1 Full-Truck-Load (FTL)
-
1.3.2 Less than-Truck-Load (LTL)
-
-
1.4 Containerization
-
1.4.1 Containerized
-
1.4.2 Non-Containerized
-
-
1.5 Distance
-
1.5.1 Long Haul
-
1.5.2 Short Haul
-
-
1.6 Goods Configuration
-
1.6.1 Fluid Goods
-
1.6.2 Solid Goods
-
-
1.7 Temperature Control
-
1.7.1 Non-Temperature Controlled
-
1.7.2 Temperature Controlled
-
-
Thailand Road Freight Transport Market Size FAQs
How big is the Thailand Road Freight Transport Market?
The Thailand Road Freight Transport Market size is expected to reach USD 20.37 billion in 2024 and grow at a CAGR of 6.01% to reach USD 28.91 billion by 2030.
What is the current Thailand Road Freight Transport Market size?
In 2024, the Thailand Road Freight Transport Market size is expected to reach USD 20.37 billion.
