Vietnam Freight and Logistics Market Size

The Vietnam Freight and Logistics Market is projected to experience significant growth over the forecast period, driven by substantial investments in infrastructure development. The government's focus on enhancing the railway network, road freight industry, and airport facilities is expected to play a crucial role in expanding the market's capacity and efficiency. These initiatives aim to position Vietnam as a key logistics hub in Southeast Asia, addressing current infrastructure gaps and supporting increased freight and logistics activities.

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Market Size of vietnam freight and logistics Industry

Vietnam Freight and Logistics Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 48.57 Billion
svg icon Market Size (2030) USD 71.88 Billion
svg icon Largest Share by Logistics Function Freight Transport
svg icon CAGR (2024 - 2030) 6.75 %
svg icon Fastest Growing by Logistics Function Courier, Express, and Parcel (CEP)

Major Players

Vietnam Freight and Logistics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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Vietnam Freight and Logistics Market Analysis

The Vietnam Freight and Logistics Market size is estimated at 48.57 billion USD in 2024, and is expected to reach 71.88 billion USD by 2030, growing at a CAGR of 6.75% during the forecast period (2024-2030).

48.57 Billion

Market Size in 2024 (USD)

71.88 Billion

Market Size in 2030 (USD)

5.21 %

CAGR (2017-2023)

6.75 %

CAGR (2024-2030)

Fastest Growing Market by Mode of Transport

8.63 %

Projected CAGR, Pipelines, 2024-2030

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The Thi Vai terminal project, an investment of Petrovietnam Gas, was officially put into operation in October 2023. It is equipped with a storage tank, a gas pipeline, and an operating center.

Largest CEP Market by Destination

62.81 %

value share, Domestic, 2023

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E-commerce, a major driver for domestic CEP growth, was valued at USD 11.1 billion as of 2023, and domestic CEP volume grew in 2023.

Largest Market by End User Industry

35.36 %

value share, Manufacturing, 2023

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The added value of industrial production in Vietnam rose by 3.02% during 2023, with the manufacturing and processing sector registering an increase of 3.62%.

Largest Warehousing Market by Temperature Control

92.18 %

value share, Non-Temperature Controlled, 2023

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In Q4 2023, Thang Long II Industrial Property (IP) in Hung Yen province expanded its offerings, adding 121 hectares of warehouse land to the market.

Fastest Growing Warehousing Market by Temperature Control

6.48 %

Projected CAGR, Temperature Controlled, 2024-2030

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The southern region of Vietnam established a more developed market for temperature-controlled warehousing, primarily due to increasing demand from seafood exporters.

Rising GDP contribution, along with trade flows, leading freight and logistics market demand

  • In December 2023, Vietnam announced a USD 70 billion investment to establish a comprehensive high-speed railway network across the country. This move is crucial as Vietnam's current railway infrastructure lags behind its Southeast Asian counterparts. The proposed national network will feature a double-track system capable of speeds up to 350 kilometers per hour. It will adhere to a standard gauge of 1,435 millimeters and support an axle load of 22.5 metric tons.
  • Infrastructure development has played a pivotal role in bolstering the Vietnamese road freight industry. Collaboratively, Ho Chi Minh City and Dong Nai Province are spearheading the construction of the Cat Lai bridge, linking District 2 in Ho Chi Minh City with Nhon Trach district in Dong Nai. Despite facing notable delays, this project, with a capital investment of USD 288 million, is now in progress. Furthermore, the Ministry of Transport has actively invested in the My Thuan - Can Tho expressway. Stretching 23.6 km, this expressway, with a total investment of approximately USD 216 million, was completed by the close of 2023.
  • Vietnam is channeling substantial funds into airport renovations and constructions, with the aim of establishing itself as a leading regional hub for international travelers in Southeast Asia. As per the 2023 plan by the Ministry of Transport (MoT), Vietnam is on track to have 30 airports by 2030, and that number is projected to rise to 33 by 2050. Hanoi and Ho Chi Minh City are poised to become the country's major aviation hubs. The government is expected to allocate over USD 4 billion to expand Hanoi's Noi Bai International Airport, enabling it to handle 60 million passengers by 2030, a 2.5-fold increase from its current capacity.
Vietnam Freight and Logistics Market

Vietnam 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.

  • In December 2023, Vietnam announced a USD 70 billion investment to establish a comprehensive high-speed railway network across the country. This move is crucial as Vietnam's current railway infrastructure lags behind its Southeast Asian counterparts. The proposed national network will feature a double-track system capable of speeds up to 350 kilometers per hour. It will adhere to a standard gauge of 1,435 millimeters and support an axle load of 22.5 metric tons.
  • Infrastructure development has played a pivotal role in bolstering the Vietnamese road freight industry. Collaboratively, Ho Chi Minh City and Dong Nai Province are spearheading the construction of the Cat Lai bridge, linking District 2 in Ho Chi Minh City with Nhon Trach district in Dong Nai. Despite facing notable delays, this project, with a capital investment of USD 288 million, is now in progress. Furthermore, the Ministry of Transport has actively invested in the My Thuan - Can Tho expressway. Stretching 23.6 km, this expressway, with a total investment of approximately USD 216 million, was completed by the close of 2023.
  • Vietnam is channeling substantial funds into airport renovations and constructions, with the aim of establishing itself as a leading regional hub for international travelers in Southeast Asia. As per the 2023 plan by the Ministry of Transport (MoT), Vietnam is on track to have 30 airports by 2030, and that number is projected to rise to 33 by 2050. Hanoi and Ho Chi Minh City are poised to become the country's major aviation hubs. The government is expected to allocate over USD 4 billion to expand Hanoi's Noi Bai International Airport, enabling it to handle 60 million passengers by 2030, a 2.5-fold increase from its current capacity.
End User Industry
Agriculture, Fishing, and Forestry
Construction
Manufacturing
Oil and Gas, Mining and Quarrying
Wholesale and Retail Trade
Others
Logistics Function
Courier, Express, and Parcel (CEP)
By Destination Type
Domestic
International
Freight Forwarding
By Mode Of Transport
Air
Sea and Inland Waterways
Others
Freight Transport
By Mode Of Transport
Air
Pipelines
Rail
Road
Sea and Inland Waterways
Warehousing and Storage
By Temperature Control
Non-Temperature Controlled
Temperature Controlled
Other Services
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Vietnam Freight and Logistics Market Size Summary

The Vietnam Freight and Logistics Market is poised for significant growth, driven by substantial investments in infrastructure and a strategic focus on becoming a manufacturing and export powerhouse. The government's commitment to developing a high-speed railway network and expanding road and airport infrastructure underscores its ambition to enhance the logistics landscape. Key projects, such as the Cat Lai bridge and the My Thuan - Can Tho expressway, are set to improve connectivity and efficiency in the transport sector. Additionally, Vietnam's efforts to establish itself as a regional aviation hub, with plans to increase the number of airports and expand existing ones, are expected to bolster its logistics capabilities. The transportation and storage sector has already shown impressive growth, with a surge in new businesses and a significant increase in cold chain capacity, reflecting the rising demand for efficient logistics solutions.

The market is characterized by a fragmented landscape, with major players like Bee Logistics Corporation, Kuehne + Nagel, and ViettelPost leading the charge. These companies are leveraging innovative technologies and strategic partnerships to enhance their service offerings and reduce carbon emissions. The introduction of new shipping vessels and the expansion of air freight services highlight the industry's focus on improving inter-continental connectivity and meeting growing customer demands. Despite challenges such as fluctuating fuel prices and infrastructure delays, the Vietnam Freight and Logistics Market is expected to continue its upward trajectory, supported by government initiatives and private sector investments.

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Vietnam Freight and Logistics Market Size - Table of Contents

  1. 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)

    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 Logistics Function

      1. 1.2.1 Courier, Express, and Parcel (CEP)

        1. 1.2.1.1 By Destination Type

          1. 1.2.1.1.1 Domestic

          2. 1.2.1.1.2 International

      2. 1.2.2 Freight Forwarding

        1. 1.2.2.1 By Mode Of Transport

          1. 1.2.2.1.1 Air

          2. 1.2.2.1.2 Sea and Inland Waterways

          3. 1.2.2.1.3 Others

      3. 1.2.3 Freight Transport

        1. 1.2.3.1 By Mode Of Transport

          1. 1.2.3.1.1 Air

          2. 1.2.3.1.2 Pipelines

          3. 1.2.3.1.3 Rail

          4. 1.2.3.1.4 Road

          5. 1.2.3.1.5 Sea and Inland Waterways

      4. 1.2.4 Warehousing and Storage

        1. 1.2.4.1 By Temperature Control

          1. 1.2.4.1.1 Non-Temperature Controlled

          2. 1.2.4.1.2 Temperature Controlled

      5. 1.2.5 Other Services

Vietnam Freight and Logistics Market Size FAQs

The Vietnam Freight and Logistics Market size is expected to reach USD 48.57 billion in 2024 and grow at a CAGR of 6.75% to reach USD 71.88 billion by 2030.

In 2024, the Vietnam Freight and Logistics Market size is expected to reach USD 48.57 billion.

Vietnam Logistics Market Report Snapshots

Vietnam Freight and Logistics Market Report - Industry Analysis, Size & Forecast up to 2030