Vietnam Logistics and Warehousing Market is expected to reach around USD 86.7 Billion by the year ending 2022
According to a report byKen Research, Vietnam logistics and warehousing market by service mix (Freight Forwarding, Warehousing and Value Added Services), By Regions (Red River Delta, Da Nang, Ho Chi Minh City and Others) and By End Users (Foods and Beverages, Engineering Equipment and Others); Vietnam freight forwarding market by normal and express delivery, by freight movement (sea freight, road freight, air freight and rail freight), by international and domestic freight forwarding and by flow corridors (Asian Countries, European Countries, America and African Countries); Vietnam warehousing market by number of warehouses (Southern Vietnam and other regions), by end users (retail, electronic devices, textile and footwear, wooden products and others), by international and domestic companies and by business model (industrial freight/retail, container freight, cold storage, agriculture and others);Vietnam express market by international and domestic express, by air and ground express and by market structure (B2C, B2B and B2C);Vietnam e-commerce market by channel (3PL companies and e-commerce merchants), by speed of delivery (2 day delivery, 1 day delivery, same day delivery, within 2 hours and others), by area of delivery (intercity, intracity and same region) and by payment method (cash on delivery and others) and Vietnam 3PL market by market (freight forwarding and warehousing) and by international and domestic companies; Company Profile of Major Players (DHL Express Vietnam, FedEx Vietnam, GHN, Damco Vietnam, Sotrans Vietnam, Vinafco, Kerry Logistics Vietnam, Bac Ky Logistics Vietnam, Nippon Express Vietnam, Vietnam Airlines, Transimex Saigon Corporation, Sea and Air Freight International, Vinalink Logistics, PetroVietnam Transport Corporation, Noi Bai Cargo Terminal Services and Others)
Analysts at Ken Research in their latest publication “Vietnam Logistics and Warehousing Market Outlook to 2022 – By Service Mix (Freight Forwarding, Warehousing, Cold Chain, Express Delivery, E-commerce Logistics, Third Party Logistics)” believe that promoting resource expansion or diversification, automation in warehousing, infrastructural development, E-commerce tie-ups, focus on untapped market and location preferences for setting up a logistics Hub will have a positive impact on market. Vietnam logistics and warehousing market is expected to register a positive CAGR of 13.3% during the forecast period 2018-2022. The market is further expected to be driven by expanding industrial activities, growing E-commerce industry, upcoming infrastructure in the country & continuous investment by the government in development of logistics infrastructure and consistent economic growth.
Express services are likely to become more significant in near future as Vietnam’s economy becomes increasingly integrated owing to rapid growth in international trade services. HCMC region is one of the ideal locations for Vietnam’s exports and imports, which is expected to deliver expertise in the ocean and air forwarding industry. Many distribution / warehousing centers in Vietnam are turning to technology and robotics to help them increase efficiency, accuracy and overall productivity in the near future.
The logistics sector in Vietnam is expected to escalate its way in the urban cities where a huge share of traffic is coming from the tier 2 and tier 3 cities. Modern technologies like ERP, electronic data interchange; customs and accounting software, GPS, bar code system, RFID, automatic retrieval system, robotics, drones and other technologies are anticipated to improve the logistics services in near future. Various Free Trade Agreements (FTAs) signed between Vietnam and the ASEAN Economic Community (AEC) in 2015 will lead to boost the country’s trade relations in long term. Additionally, foreign investments are estimated to rise strongly in Vietnam as many logistics enterprises in ASEAN countries are keen to invest and have a better understanding of the laws, customs and culture of Vietnam. The country will focus on attracting investment in logistics infrastructure development, constructing regional and international logistics service centers, improving the efficiency of connection between Vietnam and other countries, thereby becoming a modern logistics hub in upcoming years.
For more information on the research report, refer to below link:
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