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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Vietnam Freight Logistics Market Outlook
The Vietnam freight logistics market size is projected to grow at a CAGR of 5.90% between 2024 and 2032, aided by the expansion of the e-commerce sector.
Key Takeaways:
- The increasing global demand for various commodities from ASEAN is expected to aid the market growth.
- The manufacturing sector is expected to constitute a major portion of the Vietnam freight logistics market share.
- With the rapid technological progress, the adoption of warehouse management systems is expected to increase.
According to the World Bank rankings of 2018, Vietnam ranked at 39th position out of 160 countries on the Logistics Performance Index (LPI). This is because of a growth of 5% in its roadways freight carrying capacity. In the first three quarters of 2020, Vietnam’s earnings from its export-import industry reached USD 390 billion and recorded a growth of 1.8% from the same period in 2019. This bodes well for the future of Vietnam freight logistics market which is assessed to grow positively during the forecast period.
Due to its strategic location, Vietnam is well suited to act as East Asia’s chokepoint to ASEAN markets (Singapore, Malaysia, Thailand, and the Philippines, among others). The export of electronics, automobiles, machines and mechanical parts are crucial for the development of developing economies of ASEAN (like Myanmar) and help countries like Japan and South Korea in earning foreign exchange for importing food and fuel. This is making Vietnam an important trading partner on a global scale, which, in turn, is expected to bode well for its freight logistics market.
The e-commerce industry of Vietnam recorded a growth of 18% from 2019 to 2020. Because of government support, Vietnam became the sole country in Southeast Asia where the e-commerce industry flourished even during lockdown periods. This impacted the growth of its freight logistics market directly, which has been recording a positive growth rate ever since.
Market Segmentation
Vietnam Freight Logistics Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Logistics Function
- Courier Express and Parcel
- Freight Forwarding
- Freight Transport
- Warehousing and Storage
- Others
Market Breakup by End Use
- Agriculture, Fishing, and Forestry
- Construction
- Manufacturing
- Oil and Gas
- Mining and Quarrying
- Wholesale and Retail Trade
- Others
The key market players are Viettel Logistics Company Limited, Petrovietnam Transportation Corporation, A.P. Moller Maersk Group, FedEx Corporation, Aviation Logistics Corporation, Gemadept Corporation, Deutsche Post AG, Ring International Transport JSC., DB SCHENKER, and T&M FORWARDING Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Logistics Function |
|
| Breakup by End Use |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5.90% between 2024 and 2032.
By logistics function, the market includes courier express and parcel, freight forwarding, freight transport, and warehousing and storage, among others.
By end-use, the market is divided into agriculture, fishing, and forestry, construction, manufacturing, oil and gas, mining and quarrying, and wholesale and retail trade, among others.
The key market players are Viettel Logistics Company Limited, Petrovietnam Transportation Corporation, A.P. Moller Maersk Group, FedEx Corporation, Aviation Logistics Corporation, Gemadept Corporation, Deutsche Post AG, Ring International Transport JSC., DB SCHENKER, and T&M FORWARDING Ltd., among others.
The major factors driving the growth of the market are the increasing cross-border trade, economic growth, rapid globalisation, and improving transportation infrastructure of the country.
The notable trends in the market include the growing e-commerce sector, rapid technological advancements, and the growing deployment of warehouse management systems.
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